INVESTING IN MYANMAR

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.

1.Land Area

   Myanmar : 677000 km; Indonesia : 1905000 km; Phillipines: 300000 km

2.Population

   Myanmar : 60000000  ; Indonesia : 228500000; Phillipines:90500000

3.GDP 

   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.