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Thursday, September 27, 2012
ELECTRIC POWER MINISTRY LURES INVESTORS
Ministry of Electric Power wooed local and foreign investors at the elctricity development seminar at the ministry on 21 September.
The seminar aimed at inviting domestic and foreign investments was attended by
Union Ministers U Tin Naing Thein,U Khin Maung Soe and U Than Htay,deputy ministers U Aung Than Oo,U Myint Zaw and U Set Aung,representatives from local and foreign companies and officials.
The ministry has already organized regional seminars in each region and state and the national seminar in third week of August.
Union Minister U Than Htay said energy deposits in Myanmar should be tapped as soon as possible as energy exploration has to be done in limited time,poiting out that the hesitation could delay the country'sdevelopment.
Union Minister U Khin Maung Soe highlighted the environmentally friendliness of investmentsandthe need of comprehensive legislation for privatization.
The meeting focused on electricity sufficiency,incorporation of public companies and privatization.
The government has adopted policy to set schedules of projects sectorwise at Planning Commission meeting and international aids management central commitee meeting on 19 and June. MNA
MYANMAR BANKS MUST PREPARE FOR ASEAN ECONOMIC COMMUNITY
Indonesian and Phillipino Banks are developed very fastly. The citizens put trust on these banks.We have to see the data first.
Myanmar : 677000 km; Indonesia : 1905000 km; Phillipines: 300000 km
Myanmar : 60000000 ; Indonesia : 228500000; Phillipines:90500000
Myanmar: 27.2 billions US$;Indonesia:511.8 billions US$;Phillipines:168.6 billion dollars
GDP of Myanmar is the lowest.
Myanmar banks introduce Debit card and other asean countries have credit cards.
With the help of low interest loan of official development assistance(ODA) from Japan International Cooperation Agency (JICA),five-year plans of the State sector-wise and region-wise programmes would be effectively implemented for fulfilling people's needs.The today's coordination is to implemet people centered development in line with thepolicy of JICA and to draw priority plans agreed by two sides,said Union Minister at the President Office U Tin Naing Thein at the
coordination meeting for implementation projects in regions and states with the use of low interest loan assisted by official development assistance at the meeting hall of National Planning and Economic Development Ministry on 24 September.
The interest rate of the official development assistance(ODA) is 0.01 and repayment period is 20 years including pending period 10 years.
Then why not our banks can give low interest loans to entrepreneurs,workers and farmers.
Monday, September 24, 2012
NOTES ON MYANMAR TIMES
President U Thein Sein announced in June a "second wave of reforms",which will include the long awaited new foreign investment law,likely to be passed by parliament soon.Now this draft is in U Thein Sein's hand.How much we have to wait for it.?The EU has pledged 159 million euros (190 million dollars) over the next five years.Meanwhile the government hopes to meet an ambitious goal of 7.7 GDP growth between 2012 and 2016,and a 70 percent increase in per capita income during jthe same period.Japanese government is ready to grant aid.India is willing to give aid now.People's Republic of China has given many aid,but how about Republic of KOREA?
"We welcome foreign direct investment,but frankly speaking we have some worries about it,"said Zaw Min Win,Vice Chairman of Union of Myanmar Federation of Chamber of Commerce & Industry.Zaw Min Win said that he wanted to see more emphasis placed on infrastructure than on consumer products and light industries."Electricity,road transport,port development,and so on"',Zaw Min Win said.
Now Coca-Cola is in Myanmar market together with Pepsi Cola.Many are .coming.Therfore,we must be ready for competition
Friday, September 21, 2012
The Ministry of Finance and Revenue is implementing monetary reforms for development of monetary sector which plays a pivotal role in economic growth of the State, said Union Minister for Finance and Revenue U Win Shein at the Workshop on National Level Monetary Service Development and Investment
Opportunities held at Thingaha Hotel here on 18 September.
The Union Minister pointed out that the ministry has permitted to open new private banks and extend banks,has granted issued money changer license, authorize dealer license and has carried out deposit insurance,special drawing rights,managed floating exchange rate regime,foreign exchange auction,two way foreign exchange auction,with private banks which have gor license for foreign currency exchange.
The Microfinance Law was promulgated on 30-11-2012 and the Foreign Exchange Management Law on 10-8-2012.Plans are underway to implement banking network for promotion of payment system and Myanmar payment Union Card (MPU-Debit Card).Central Bank of Myanmar has signed MoUs with Tokyo Stock Exchange of Daiwa Research Institute and Policy Research Institute (PRI) of Japanese Finance and Revenue Ministry for capital market development.
The purpose of the workshop is to take advices from scholars,institutions and entrepreneurs in implementation monetary sector development for public convenience, he added. Policy and plan will be carried out based on the results from the workshop by seeking successful implementation tasks and investment opportunities explained.
Then resource persons including Deputy Minister for Finance and Revenue Dr. Maung Maung Thein read out their papers and those attendees participated in discussions.
Present at the workshop were Union Minster at the President Office U Hla Tun,
Union Minister for Transport U Nyan Tun Aung,Union Minister for National Planning and Economic Development Dr. Kan Zaw, Deputy Ministers for Finance and Revenue Dre. Lin Aung and Dr. Maung Maung Thein,Governor of Central Bank of Myanmar U Than Nyein,Representatives of Pyidaungsu Hluutaw and Amyotha Hluttaw,managing directors and directors-general and directors of Central Bank of Myanmar,scholars,entrepreneurs and media pwersons totalling 195,-MNA
THE KOREA-MYANMAR INDUSTRIAL COOPERATION FORUM 2012 AND ONE-TO-ONE BUSINESS MATCHING WITH KOREAN DELEGATES
DATE: 24th Sept,2012 Monday
Venue:Grand Ball Room,Chatrium Hotel,Royal Lake,Yangon
37 companies to be led by H.E. Mr. Jaedo Moon,Deputy Minister for
Organizers: Ministry of Knowledge Economy
Mineral Resources Cooperation Committee
Embassy of the Republic of Korea
KOTRA (Korea Trade Investment Promotion Agency
Group Meeting: For Myanmar entrepreneurs who have pianned projects and
look for Korean Investors
Invited guests have to arrive at before 8:30 am.
Wednesday, September 19, 2012
ASEAN ECONOMIC COMMUNITY (3RD) WORKSHOP
The ASEAN Economic Community (3rd) Workshop will be held on 22nd September 2012 08:30 AM at Grand Ball Room II,Chatrium Hotel,Natmauk Road,Yangon.
This workshop is organized by PT & MM EVENT CO.,LTD. and main sponsor by Parami Energy Group.
3.SMALL & MEDIUM ENTERPRISES
Experienced persons will lead the group discussion by Brainstorming.It will be an incredible workshop meeting.
SPIRAX SARCO ESTABLISHES MYANMMAR OFFICE
Leading British steam engineering services provider Spirax Sarco Engineering(UK) has set its foothold in Myanmarmopening a branch office in the Southeast Asia's emerging economy.
The accalaimed steam services and solution provider delivers more than 5000 ISO standard high-quality products for boiled control & systems, flow metering,
condensate pumps and energy recovery,and steamtraps and so on to oil and gas,
soft drink,brewery,pharmaceutical,garment and food manufacturing industries worldwide.
It has 1300 engineering services and 38 wolrd-class engineering schools in each and every corner of the world. The engineering schools with full teaching aids have equipped about 12 million engines from various parts of the world with considerable engineering expertise.
Spirax Sarco is a major steam services provider for Nestle,Glaxo Smith Kline's,Johnson & Johnson,Mitchelin Tyres,Guiness Stout,Daniel Thwaites Brewery, Petrobras,COAGAP Oil & Gas,Samsung,Electronics and many other manufacturing. The company's environmental-friendly services are proven to be fit for costing execises of the factrories with steam systems in operation.
Spirax Sarco's Myanmar partner Ray Myanmar Company may be reached for further details at 09 73049008.-NLM
SEMINAR ON SMALL & MEDIUM ENTERPRSE BANKING HELD
Central Bank of Myanmar and United Overseas Bank (UOB) branch of Singapore held the Seminar on Small & Medium Enterpris Banking at Park Royal Hotel,here,
this morning,with speeches of Vice-Governor of CBM U Maung Maung Win and UOB Managing Direcvtor Mr Cheo Chai Hong.
Deputy Director U Win Htein MIn of CBM read the paper on the role of SMEs in MYanmar,Excecutive Director MrChoo Kee Siong of UOB on overview of UOB and
Commercial Banking for Medium Enterprise,Excecutive Director Mr. Daniel Yeo of
UOB on Business Banking for Small Enterprises and Executive Director Mr Frankie Phua of UOB on Credit Risk Assessment for SME Lending.
They then replied toqueries raised by those present.MNA
Saturday, September 15, 2012
PYI DAUNG SU HLUTTAW PASSED MYANMAR INVESTMENT LAW
On September 7,Pyi Daung Su Hluttaw passed boldly and submitted to President U Thein Sein.The Pyi Daung Su Hluttaw cut the US$5-million minimum capital needed for Joint Ventures and put the maximum share which the foreign firms can hold in 13 restricted sectors by one percent up to fifty percent.The Hluttaw removed a clause that said Myanmar citizens had the right to offer to buy ou a foreign investor "if they have the ability to buy and acquire by way of compensation at market rate during the original life of the contract or its extended life if the extebded life is allowed."
This revised law is more favourable to foreign firms than the last draft.
But the investment in small-to medium-scale enterprises are still limited,because domestic businessmen urged to limit SME.
And it is confirmed that the foreign investments could not be nationalised
Arranged by KOTRA Yangon,one-on-one Business with Daegu-Gyeongbuk Korean Trade Mission was held in Ballroom-1,Park Royal Hotel 0n 14th September 2012.
1. Junghwa Tech Co.,Ltd.
2. Bo Gwang Textile Co. Ltd.
3. Mediway Korea Co. Ltd.
4. Han kook Fire Fighting Equipments Co Ltd.
5. SORISO Co. Ltd.
6. Jung An Synthetic Fiber Co. Ltd.
7. Mungyeong Omija Valley
8. DAEWON GSI
9. Ferrof Co. Ltd.
Head Office & Factory: 565-1 Seonwon-li,Seonnam-myeon Seongju-gun,Gyeongsanbukdo,South Korea zip code:719-832
Tel: 82-54-933-9322 Fax: 82-54-933-4254
* Seoul Office: Rm 812 LG Twintel II 157-3
Samseong-dong,Kangnam-gu . Seoul,South Korea. Zip code: 135-880
Tel: 82-2-557-9322 Fax: 82-2-557-5639
Feroof said,"With integrity and reliability as well as complete service,we are constantly building our reputation and being acknowledged for the highest quality domesticallyand abroad.
Daewon GSI has been developing,installing and processing while leading the new technical age in the rice processing industry.
Myanmar is agricultural-based country.So we can do business with Daewon GSI.
BO GWANG TEXTILE CO. LTD.
This company is doing functional fabrics for home,hotel,hospital,and military use.
Bo Gwang Textile Company can be our counterpart for Myanmar Textile Factory.
Tuesday, September 11, 2012
MYANMAR RICE INDUSTRY ASSOCIATION
Myanmar Rice Industry Association will start sale of reserve rice at Bayintnaung Brokerage an Wadan Street Brokerage as of early September with the aim of satisfying domestic rice demand.
"We prepare for more transparency in sale of rice.About 10,000 bags of rice will be sold directly at brokerage daily.It is aimed at controlling price of rice in domestic rice market as much as we can,"an official of MRIA.
In the previous sales through tender,the news spread out that only some rice merchants got the opportunities for sales of rice and it consequence raised the prices o frice.This time,the transparency of sale opportunity will be performed.
Rice merchants from regions and states have planned to sell out over 100,000 bags of rice at fair price for the people.
Last month,heavy rains and floods inundated over 200,000 acres of farmlands in Ayeyawady Region.
"Although reserve rice is being sold,price of rice is still high due to the fact that people buy rice based on jtheir worry.Regular consumers also purchaes rice more than their needs.If reserve rice is sold,anybody should not worry about problem of rice price in the market.Not only the association but also other rice companies will sell out their reserve rice if necessar,"said a general manager of rice company.-Myanma Alin.
INDIAN ENTREPRENEURS TO INVEST IN MYANMAR
Republic of the union of Myanmar Federation of Chambers of Commerce and Indutry and Indian entrepreneurs discussed bilateral trade, promotion of border trade,investment of Indian enterpreneurs in education,agriculture,health,services and transport infrastructures,cultivation of cotton and establishment of cotton ginning factory in Sagaing Region,direct flight of India-Myanmar aviation on 30th August,.
ASIAN CEMENT TRADE SEMINAR 13-14 SEPTEMBER
A seminar on cement trade and businesses of Asian countries will be held at Sedona Hotel on
13 and 14 September. The seminar will mainly be attended by entrepreneurs from China which is the top cement producing country ,Indian businesses and cement exporters from Thailand for enabling local cement entrepreneurs to have cement production and better techniques.
MYANMAR GLOBAL INVESTMENT FORUM
The Euromoney Myanmar Global Investment Forum will be held at Myanmar International Convention Ceter,Naypyidaw on 12 and 13 September.State digniteries,American Ambassador H.E. Mr. Derek Mitchell,CEO from S.E Asia of Standard Chartered Bank,Representatives from IFC,IMF.JICA,Bangkok Bank,Siam Bank,BNP Paribas,CIMB and Myanmar entrepreneurs.They will discuss on Future of Myanmar Economics,Marketing and Development of Banking Business,Myanmar Investment Laws,Land and Real-estate Business,Subject on Basic goods production,transportation,Development of infrastructure,Investment in Agriclulture Sector,etc.
UNION ENERGY MINISTER CALLS FOR BOLD REFORM
"The Ministry could achieve success in both upstreeam and downstream sections of energy sector.The operating ration stands at approximately 49.06 percent in five years beginning 2006-2007. The projected ratio for 2012-13 fiscal year is 57.17 per cent. The ministry should not be content with current success but is to exert greater efforts for contribution to national econonmic performance and better service delivery. The staff personnel are to make self-assessment while evaluating the objective conditions of own department and ministry in comparison with international norms and are to make reforms as necessary" said Union Minister for Enegy U Than Htay at coordination meeting of the ministry on national development planning at the ministry hereon 7 September.
The Union Minister said that there are only two driving forces in implementing a piece of work,priciple and personnel. The upper hiearchy needs to adopt proper policy and management system as necessary and the staff personnel are to try hard to change their mindset and ensure self-improvement. Energy sector development straegies are to be fromulated considering nthe present economic,politicaland social status of the country.
Then Deputy Minister U Htin Aung,director-genral and managing directors and participants made discussion and suggested for energy sector development and reform.
E. & O.E
Saturday, September 8, 2012
H.E. Mr. David L. Carden, U.S. Ambassador, said on September 7 that Coca Cola Company will invest in Myanmar US Dollars 100 million within three years.
This investment will give jobs to 2000 workers.Then with PACT Group,the company will search 20,000 jobs for women.
Coca Cola will be first American company invested in Myanmar.
MYANMAR AGRIBUSINESS PUBLIC CORPORATION LIMITED
Myanmar Rice Industry Association Information Officer
Dr. Soe Tun said that Myanmar Agribusiness Public Corporation Limited is arranging to make a Project of Rice Industry Complex on 1000 Acre Land at five main Rice Paddy areas. The project will cost US Dollars 10 million.
U Myo Thuya Aye of MAPCO said that tenders will be invited to Foreign Investors.Main job will be done by MAPCO.The mills included high quality Rice Mills,Full Boiled Rice Mills,Bran Oil Mills and Rice Vercimeli Mills.
15 places will be chosen in Yangon Province, Ayeyawady Province and Bago Province.
Vietnam signed MOU to share US Dollars 200 million for the said Project.
MYANMAR INDUSTRIAL DEVELOPMENT BANK CHANGES
U Thein Zaw,Deputy Director General of Union Bank of Myanmar said that Myanmar Industrial Development Bank will be turned to Myanmar Small and Medium Scale Enteprises Development Bank.
Friday, September 7, 2012
MODEL MAIZE PLOTS HARVESTED IN NAY PYI TAW
A ceremony to harvest hybrid maize plantation of Agriculture Department and Agricultural research Department was held at Thabyebin Village of Zeyathiri Township,Nay pyi taw Council Area on 2 September morning.
Staff of the departments showed off hybrid maize strains on theplots of farmers Daw Hmu and U Khaing Min Aung.After thatmthey harvested Yezin-6 Maize plantations of 13 farmers.
The farmers and guests assessed their best strains of Maize. They selected Yezin-10 strain as the first prize that produced 169 baskets per acrem Yezi-04 strainthe third that produced 145 baskets per acre and Yezi=6 strain the fourth that produced 141 baskets per acre. those wishing to buy maize strains may contact Agricultural Research Department (Yezin),said in-charge of maize and cereal crops section deputy Director U Thant Lwin Oo.
So far so good. Yellow Maize is our third kind of exportable commodity.We welcome hybrid crop which produce good quality and more quantity output per acre.
EXPORT OF MAIZE
YEAR QUANTITY(THOUSAND METRIC TON) VALUE ( US$ MILLION)
2008-2009 120.2 26.4
2009-2010 10.4 2.1
2010-2011 44.8 11.2
2011-2012 166.5 46.6
2012-2013 (April-June) 9.9 2.8
Our hope is that we can break the record of last year export.
Monday, September 3, 2012
MYANMAR AGRIBUSINESS PUBLIC CORPORATION LIMITED (MAPCO)
Chairman U Chit Khaing stated : "As we are all aware, our blessed country has once again emerged with its hidden vibrancy, charm and economic potentials that are all blossoming. Thanks to the sincere efforts by the government in putting the country at the forefront."
"Our people for the long have toiled the earth of our golden land to support their living. This however, as noble as it is; may no longer be adequate a the nation is in preparation to embark to the journey of greatness."
"With our government's continuous effort in ensuring the nation's agribusiness return to the zenith, it is imperative for everyone to consolidate their strength to pave the way for a greater national agro-economy."
"The formation of MAPCO is a testimony of this effort. The set of ideals that MAPCO carries is a paradigm shift from the previous agribusiness model to a more robust and comprehensive system. Esseential aspects for the country's generator of wealth, such as education, legislation,private businesses and the public,are brought together through MAPCO to contribute to a greater overall wealth of our beloved Myanmar."
GOALS AND AIMS
To stand sucessfully as the most vibrant,dynamic and profitable public corporation in Myanmar.
To develop and sustain agribusiness activities so as to ensure prosperity for all stakeholders in the interests of national food security and rapid economic development.
To implement private sector led development in agriculture and agrobased Indutries.
To develop and improve infrastructure and logistics with regard to economic development of Myanmar.
To be a market leader in Myanmar and in global marketplace.
To be the vanguard of agriculture and agribusiness sectors
To reform the agro-based industry into a more vibrant and competitive sector
To catalyse the agriculture segment to become the nation's engine of growth
To place MAPCO as a prominent and preferred agribusiness investment avenue
To position MAPCO as a major global agro-commodities trading entity
* National stockpile (Emergency Reserve)
* Guaranteed Minimum Price (Selective Intervention)
* Safety Nets for Vulnerable Groups (Food Security}
* Contract Farming (Rural Development)
* Trade Activities
* Processing Activities
* Investment Activities
* Infrastructure Development Activities
* Service Provider
MAPCO is our dream and our prospect.
MAPCO will render us regularly
* Guidance and Supporting
* Advisory and Observations
* Safeguard farmers and Consumers'Interests
* National Agricultural Development Objectives
MAPCO WEB :www.mapco.com.mm for your perusal and information.
Therefore,we must join MAPCO together to promote our Rice Business and get profit surely.
Chairman U Chit Khaing said "To a successful new beginning and beyond,I welcome you to MAPCO".