my. camera di commercio italia myanmar

I. MY.
B. C.
weekly articles from:
ANDREA GANELLI - Vicepresidente Camera di Commercio Italia Myanmar
LUCA SAPORITI - Segretario Generale Camera di Commercio Italia Myanmar
SIMONA VIARIZZO - Editor newsletter Camera di Commercio Italia Myanmar
CAMERA DI
COMMERCIO
ITALIA
MYANMAR
ater
se of the
onmental
chnology
umber by
eeded in
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ons. But,
s and 10
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sident of
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ff-spring
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16 - 22 MAY 2016
Comprehensive Plan of Action to promote
cooperation between ASEAN and Russia
This Comprehensive Plan of Ac- sia partnership in all areas of comtion is aimed at fostering and di- mon interest, taking into account
versifying mutually beneficial ASEAN 2025: Forging Ahead Tocooperation for the period of 2016- gether and its Blueprints, as well as
2020 between the Association of the results of the implementation
Southeast Asian Nations (ASE- of the Comprehensive Programme
AN) and the Russian Federation as of Action to Promote Cooperation
set forth in the Sochi Declaration between ASEAN and Russia 2005of the ASEAN-Russian Federation 2015. This Comprehensive Plan of
Commemorative Summit to Mark Action recognises the importance
the 20th Anniversary of ASE- of the promotion and protection of
AN-Russian Federation Dialogue human rights, including through
Relations. “Moving Towards a practical steps, exchange of best
Strategic Partnership for Mutual practices and closer cooperation,
enefit adopted on
ay
particularly in international fora.
in Sochi, the Russian Federation.
In accordance with their reThis Comprehensive Plan of Ac- spective international obligations
tion will work towards mutually and national legislation and polibeneficial ob ectives in the next cies, ASEAN Member States and
five years
building the Russian Federation shall enupon the strong cooperation be- deavour to pursue cooperation in
tween ASEAN and the Russian the following areas: political and
Federation since 1996.
Security, counter-terrorism and
This Comprehensive Plan of transitional crime; trade and investAction lays out priorities and meas- ment finance energy industry and
ures to be undertaken by both sides minerals, transport; food, agriculto further deepen and enhance their ture and forestry; information and
political-security, economic, so- communication technology (ICT);
cio-cultural and development co- tourism; science, technology and
operation as well as to realise the innovation; socio-cultural coopfull potential of the ASEAN-RusITALIAeration; disaster management and
I. MY.
MYANMAR
BUSINESS
import COUNCIL
of illegal
TheC.
B.
THE import of illegal rice from
Thailand is rising when compared to the previous years, according to the Myanmar Rice
and Paddy Traders Association.
The people in the border
between Myanmar and Thailand
are eating Thai rice and now
it has come to penetrate com-
Corso Re Umberto, 8
10121 – Torino
ITALY
emergency response; environment;
climate change and biodiversity;
health and pandemic preparedness and response; Environment,
climate change and biodiversity,
health and pandemic preparedness
and response; education, youth and
People-to-People Exchange, physical training and sports; cooperation
on narrowing the development gap
and connectivity and connectivity.
This Comprehensive Plan of
Action is to be implemented by
the relevant authorities of ASEAN Member States and the Russian Federation through the appropriate funding support by the
governments of ASEAN Member
States and the Russian Federation,
including the ASEAN-Russian
Federation Dialogue Partnership
Financial Fund (ARDPFF); regularly review the progress of implementation of the Plan of Action
through the existing mechanisms
of the ASEAN-Russia Dialogue
Relations; submit progress reports
on the implementation of the Comprehensive Plan of Action to the
annual PMC + 1 Session with the
Russian Federation.—GNLM
rice from Thailand rampant
mercial cities like Yangon, said
the central executive committee member of Myanmar Rice
and Paddy Traders Association
(MRPTA) U Nay Lin.
MRPTA would submit this
matter to the Ministry of Commerce in order that the latter can
take legal action against the ille-
phone: +39 011 506 1611
e-mail: segreteria@imybc.it
site: www.imybc.it
gal rice importers, said he, adding that local rice market is cool
now, that the illegally imported
Thai rice is competitive in terms
of both quality and price.
Thai rice is sold for Kyats
26,000 only per 108 lb bag which
is a lower price than locally produced rice. — Chan Chan
16 - 22 MAY 2016
Fish thievery rampant
in Ayeyawady Region
FISH thievery is rampant these
days in Ayeyawady Region, said
U Win Kyaing, general secretary
of the Myanmar Fishery Federation (MFF).
The owners of fish farming
lakes are being faced with difficulties because there has been a
spate of robberies by a gang operating in and around fish farming
lakes recently.
The security of fish farming
has become worse for a lack of
law enforcement during the period of the transition after the 2015
election. The fish thieves are so
daring that they commit daylight
robbery and even operate a form
of organised crime. The farm
owners can’t help but to let them
steal as they are outnumbered and
threatened by the thieves, he added.
Complaints have already
been sent to the MFF which has
submitted them to the government, said U Win Kyaing.“There
are weaknesses in law enforcement, it will be hard to attract
more foreign direct investments
in fish farming lakes ”, said a
businessman who is engaged in
livestock breeding.
Only 0.56 per cent of the total
investment in fish farming is foreign direct investment. The reason for having less than one per
cent foreign investment is mainly
because of the weaknesses in law
enforcement and security, said
Dr. Myint Sein, vice chairman of
the MFF.—PTK/Union Daily
Price of 1300-CC cars
expected to rise by K1 million
THE price of cars with 1300-CC
Vehicles imported with old
engine power is expected to rise vehicle exchange receipts, vehiby between K1 million and 1.5ITALIA
cles imported under the allotted
million in the local car market budget of the union and regional
if income taxes are levied in ad-MYANMAR
governments, donated vehicles,
vance when imported cars areBUSINESS
vehicles provided for particular
registered, according to car deal-COUNCIL
purposes, vehicles used in fuers.
neral services, fire engines and
An advanced payment of vehicles used only for religious
the income tax will be conduct- purposes, imported vehicles for
ed by One Stop Service (OSS) embassies and diplomats, vehicentres, according to the Road cles imported by UN organisaTransport Administration De- tions and imported cars during
partment (Nay Pyi Taw).
the exemption period set by the
This service will be avail- Myanmar Investment Commisable at the Road Transport Ad- sion are not entitled to pay the
ministration offices in Nay Pyi tax. All the taxes collected are
Taw, Yangon and Mandalay required under the Union Tax
starting from 1 June.
Law.—200
I. MY.
B. C.
Corso Re Umberto, 8
10121 – Torino
ITALY
phone: +39 011 506 1611
e-mail: segreteria@imybc.it
site: www.imybc.it
UMFCCI to
hold three
more expos
with Yorkers
THE Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI)
will hold three more exhibitions
with Yorkers Trade and Marketing Service Co Ltd, said U Myo
Thant, the general secretary of
the UMFCCI.
This year, the UMFCCI held
a machinery exhibition in cooperation with Yorkers, featuring
construction materials, lighting
equipment and machines and
tools for making finished wood
products. UMFCCI has also
signed MoUs with Yorkers to
hold three more exhibitions in the
coming months.
The UMFCCI usually holds
between 10 and 12 trade fairs
every year, most of which involve MoUs with other organisations. The federation usually has
signed MoUs with entrepreneurs
from Taiwan, China, Thailand
and India, but exhibitions from
Japan and South Korea are held
without MoUs, according to the
UMFCCI.—MPPS/Union Daily
16 - 22 MAY 2016
IFC to invest in private sector development
THE International Finance Corporation (IFC) has announced
that it will invest in private sector
development programmes.
The World Bank and the IFC
plan to invest US$70 million in
private sector development programmes in Myanmar, Cambodia and Laos. They are preparing to make capital investments
of US$7.5 million in Myanmar,
according to the announcement.
The investment is mainly targeted at SMEs to effectuate the
development of local businesses. A Singapore-based emerging
markets investment consulting
company will supervise the investments. The IFC will seek to
meet the needs of the businesses
in which it invests and to provide
assistance to office automation
systems.
Investments will be priori-
tised for stable, strong companies.
The IFC will consider whether the
long-term investments will effectuate the companies’ long-term
development before investing.
The IFC has decided to extend its investment in the Myanmar Industrial Port upgrading
project, as well as in Myanmar
retail enterprises such as City
Mart Holding Co Ltd.—PPN/Union Daily
Solar drying machines to be installed in Mandalay
Drying machines will be installed
in Mandalay Region in order to
be used in drying agriculture and
fishery products.
“The project, called ‘We
Care’, will install solar drying
machines in order for products to
meet international quality standards. Sun-drying is time consuming and causing losses and wastages,” said Mr Mathieu Vergez,
the manager of the project.
“Solar drying machines are
required to be applied effectively
and efficiently for the products
to be marketable. Currently, the
drying machines have already
been installed in Pindaya, Wundwin and Myittha townships, and
they will be installed in other
townships, too,” he said.
It takes only two days to dry
crops using the solar drying machines, while it takes five days to
dry crops in the sun.
The crops can be dried with-
out causing any losses or wastages when the drying machines are
installed.
When farmers dry 10 baskets of crops in the sun, only
around eight are usable after the
process is completed.
A drying machine costs
about K20 million, and the warranty period is 15 years. The machines have polycarbonate sheets
and can dry any category of farm
products.—Zar Zar
I. MY. ITALIA
MYANMAR
China demandBUSINESS
for Cumin Seed raises prices
COUNCIL
B. C.
THE export price of black
cumin sesame seeds has risen during the second week of
May, as demand from China
rises. According to the sesame
merchants from Myanmar’s
northern border areas.
The border trade is reported to have risen than the sea
trade in sesame export to China, according to the statistics of
the Ministry of Commerce.
Black cumin sesame seeds
are offered higher prices more
so than other varieties of sesame. Yet prices of other varities
remain stable. Yangon merchants are also known to produce the product. Sesame seeds
are gorund up in order to make
sesame powder which is mainly exported by sea, U Thaung,
a sesame merchant from Mandalay noted.
Corso Re Umberto, 8
10121 – Torino
ITALY
In the second week of May,
export volumes of various sesames reached 662 tonnes worth
US$900,00 via Chin-ShweHaw trade terminal on the Myanmar/ China border. Small
export operations occur in
the Muse and Myawady trade
zones, according to the figures
of border commodity depots.
The black cumin sesame seeds trading is similar
phone: +39 011 506 1611
e-mail: segreteria@imybc.it
site: www.imybc.it
to last year’s but the price of
them increased this year, with
baskets of black cumin seeds
fetching Ks62,000 while red
sesame and the black sesame
fetch Ks23,000 and Ks33,000
at markets. White sesame is
worth Ks1,414,858 per tonne
while that of the black sesames is Ks2,126,601 per tonne,
according to merchants. —
MPPS/Union Daily
16 - 22 MAY 2016
The Netherlands
assists
Drafting of sugar and sugarcane products
law nears completion
onion and potato farmers
ne products law nears completion
IT is required that a policy be first draft of the Myanmar Sugar- meet international standards
formulated to allow for the emer- cane and Sugar Law is set to be
gence of rules and regulations on
sugar and sugarcane products to
ensure sustainable development
in the country’s sugar market and
its sugar production, said Deputy
Minister for Agriculture, Livestock and Irrigation Dr Tun Win
on Monday.
The deputy minister’s call
to have rules and regulations on
sugar and sugarcane products in
Myanmar introduced came at an
annual conference of the Myanmar Sugar Cane & Sugar Related
Products Producers Association
for 2016 in Mandalay.
At the meeting, the draft Myanmar Sugarcane and Sugar Law
was presented to those present.
He stressed the need of formulating a policy following discussions among all stakeholders
of the country’s sugar industry,
pointing out that Myanmar has
seen sudden rises and declines of
sugarcane production.
According to sources, the
revised by the ministry in cooper- AN aide fund from the NethThe foreign experts will proation with experts.
erlands government, will assist vide assistance in their related
The draft law that will serve onion and potato growers reach sectors in cooperation with the
as the legal foundation for the international standards through United Nations Industrial Deexpertise, said Daw Mu velopment Organisation. This
industry will be finished through technical
Mu Aung, Deputy Director of project will start at some time in
comprehensive discussions by Technology and Market Promo- October, she added.
all stakeholders, said U Soe Lin, tion Department for SME DevelMyanmar has already reopment Department.
ceived the technical assistance on
chairman of the association.
Improving the production of developing the tea leaf, mangoes
Market analysts pointed out
onions and potatoes will be demon- and coffees sectors helping them
that it is impossible to stabilise the
strated in Magwe and Sagaing Re- to be of a higher quality.—WWP/
sugar market by increasing taxes gions as well as Shan State.
Union Daily
on sugar and sugarcane products,
saying that a lack of emphasis on
the importance of the industry by
authorities led a decline in sugar
production in the country.
The imposition of taxes is
not the answer to the sustainability of the country’s sugar production sector, said vice-chairman U
San Thein of the association.
He called for participation
of all stakeholders including sugarcane growers and producers in
anmar
Industrial Port aupgrading
the process
of formulating
polproject,
well as in Myanmar
icy on sugar
andassugarcane
prodretail Thant
enterprises
such as City
ucts. —Aung
Khaing
A worker cuts sugarcane to transport to sugar mill near Nay Py
-
I. MY.
The draft law that will serve
omprehensive discussions by
l stakeholders, said U Soe Lin,
Market analysts pointed out
hat it is impossible to stabilise the
n sugar and sugarcane products,
The imposition of taxes is
on sector, said vice-chairman U
He called for participation
ITALIA
MYANMAR
BUSINESS es when the drying
machines are
COUNCIL
B. C.
kets of crops in the sun, only
around eight are usable after the
A drying machine costs
chines have polycarbonate sheets
and can dry any category of farm
Corso Re Umberto, 8
10121 – Torino
ITALY
Germany to import
Myanmar teas
LOCAL tea producers recently joined hands with Germany-based TeeGschwendner to
bring Myanmar teas to Western
European markets.
Mr Daniel Marck of
TeeGschwendner
said
his
company prefers Myanmar’s
high-quality specialty teas because of their delicious taste.
“The teas give a sparkling
amber infusion and have a light,
peaty taste,” he said.
Local green tea manufacturers already export their products to several ASEAN coun-
phone: +39 011 506 1611
e-mail: segreteria@imybc.it
site: www.imybc.it
- and to the US.
tries
“Exporting native green
teas to Germany will bring better prospects for the country’s
tea industry. It is a chance to
promote our made-in-Myanmar
product to the international consumers,” said Daw Nila Oo, a
member of a local group of tea
producers.
Myanmar is home to
200,000 acres of tea plantations
and produces 40,000 metric
tonnes of green, black and oolong teas annually, according to
a survey.—Chan Chan
16 - 22 MAY 2016
Myanmar
coffee
set for
ower
& Energy
Ministry
to Entrepreneurs need to
sale in
America
than
5,300
transformers utilise US Zero tax
MYANMAR Special Arabica coffee cultivated in townships of Shan
State and Pyin-Oo-Lwin in Mandalay Region will be first exported
to America, according to the Myanmar Coffee Association (MCA).
In April, a container load of
coffee was exported to Switzerland, allowing the exporters to earn
US$ 3,800-4,000 per tonne.
Winrock International helped
Myanmar coffee to meet the international export quality standard
with the assistance of USAID.
Currently, Japan and South Korea
purchase Myanmar coffee.
We aimed to export the two
container loads of coffee. The price
offered depends on the quality and
the market. The price offered to
the coffee growers and the production costs have to be transparent to
build trust with the buyers. Only
then, our market lasts longer, “The
higher the quality of the coffee is,
the more we earn”, said U Ye Myint, the chairman of MCA.
Myanmar coffee has attracted
the attention of the international
dealers at the international coffee
expo recently held in the American city of Atlanta, Georgia. The
stable market and assistance is required to develop Myanmar’s cof-
I. MY.
fee production.
MCA will also provide the
technical assistance and coffee
seeds for the coffee growers. The
Finnish government announced in
December 2015 that it will donate
US$3 million for farmers to buy
would seeds
assistand
local
companies
coffee
fertilizers
in order
to deter poor farmers from cultivating opium poppy.
Coffee is one of many crops
that groups use to encourage farmers in poor socio-economic areas to
grow coffee instead of opium poppy, which is largely grown in Shan
and Kachin States. The United Nations Food and Agriculture Organisation (FAO) said that the soil and
climate in northern Myanmar are
perfect for farming coffee.
Coffee plantations first started
in Myanmar in 1885 as ministries
set up plantations in Myeik and
Dawei, though these two project
finished a few years after they were
set up. Kayin tribes are known for
producing Robusta coffee, which
still carries on to this day, according to FAO. The International Coffee Association global notes that
demand for coffee has increased
2.5 per cent since 2012, with 150.2
million,
60kg bags were consumed
ITALIA
in 2014.—200 w/GNLM
“CONCERNING export of
aquatic products, the United
States will grant zero taxation,
and it is, therefore, necessary on
the part of entrepreneurs and the
authorities concerned to fully utilize this special chance,” said U
Aye Tun, Chairman of Myanmar
Aquatic Products Manufacturers
and Exporters’ Association and
Senior Vice President of Myanmar Fishery Federation (MFF).
“US have eased economic
sanctions even during the term of
previous government. But now,
we are granted zero taxation for
our export of aquatic products.
We need to take advantage of
this chance. But the problem is
we have no products to export
yet”, said U Aye Tun. He added
that last year witnessed an export
value of US dollar 502 millions.
But it is still a very small amount
when compared to that of neighbouring nations like Thailand
and Viet Nam.
Amidst this golden oppor-
tunity, we are being faced with
delays in the port, which urgently
requires a solution by Myanma
Port Authority, he continued,
adding that the entrepreneurs
and authorities from the departments concerned are required to
make concerted effort. Now, just
as the businessmen are evading
taxes, the government employees
are corrupt for reason of insufficient salary, playing tricks on
the entrepreneurs in the pretext
of redtapism. In this regard, the
government is badly in need of a
policy to address these problems.
“There are many things to
discuss. As storage fees are high
outside, entrepreneurs keep their
containers in the port, and this
causes delays, but the recent
problem can also be attributed
to long holiday during the water
festival. The delays can damage
our products. Another issue is the
construction of the dockyard,”
said joint secretary U Aye Lwin.
—Win oo
MYANMAR
Putao freshwater BUSINESS
hatchery to breed new and peculiar fish
COUNCIL
A FRESHWATER hatchery in sponsible person from the Minis- fish and introduce the species into supply of aquatic feedstuff which have been discovered and record-
B. C.
Auk San Gong village, Putao District will breed an apparently as yet
unnamed and peculiar local fish,
according to the Ministry of Agriculture, Livestock and Irrigation.
This area is suitable for the
breeding of rare fish species. Freshwater fish production has risen and
the export of freshwater products
has increased in volume as well.
We have not managed to upgrade
saltwater farming yet, said a re-
try.
It takes three months for the
strange local fish to reproduce and
the aquatic feedstuffs are exclusively prepared for the period of
egg hatching and include protein.
The fish in question that is being bred on a commercial scale is
reportedly totally unique to Putao,
according to reports. Local authorities will make efforts to produce
a greater number of the mystery
Corso Re Umberto, 8
10121 – Torino
ITALY
rivers and creeks to prevent extinction. To maintain the fish resource,
baby fingers and fingerlings will be
cared for with extra delicacy.
The efforts to maintain fish
resources will be in accordance
with geological and weather conditions. The fingerlings of the as-yet
unnamed fish will be distributed
to fish farming businesses. All authorities concerned have said they
will ensure they have a sufficient
includes the prescribed quota of
protein.
Putao District has been found
to be home to strange, unique and
hithero unknown-to-western-science freshwater fish species which
have never been recorded, according to a survey. The news of discoveries of previously unknown or
unrecorded wildlife in Myanmar
does not come as a surprise. A total of 139 new plants and animals
phone: +39 011 506 1611
e-mail: segreteria@imybc.it
site: www.imybc.it
ed since the opening of the country in 2011 including, famously,
the scribbled arowana fish and the
chocolate-spotted frog.
Over 70 per cent of the annual fish export volume traditionally
came from the fish catching industry and over 20 per cent of fish
export volume came from the fish
farming business. Now that number is closer to 50-50, it has been
reported.—Zar Zar
16 - 22 MAY 2016
FMI shares plummet to below original value
A CONTINUED decline in the
value of First Myanmar Investment (FMI) company shares on the
nascent Yangon Stock Exchange
(YSX) during this month of May
have resulted in shares plummet
to below their original value at
the start of trading, according to a
press release of the exchange.
FMI began selling shares on
the YSX on 25 March this year
with an initial price tag of K26,000
per share, but as of the middle of
this month of May shares prices currently stand at K25,000 a
thousand kyats lower than original
trading value.
“Purchasers of stocks are
looking for a bargain, some have
sold off their stocks out of fear;
it’s a mixed bag. It’s difficult in
the absence of institutional investors. Institutional investors make
investments based on systematic calculations of future values.
ry exporters
cline in the
ry products.
the situation
er for Agrid Irrigation.
require cold
ead to drops
of the rising
the waiting
s Processors
may reject
-
Without these actors, people
just buy and sell as they like.
Everything is concerned
with the stock market: the
country’s economy, financial inflation; interest; exchange rates; it’s all there.”
said U Thet Htun Oo, executive senior director of the
YSX.
Trading on 2 May of FMI
shares saw shares fetch K30,000
each with a total of 3,488 traded,
while the market looked different
on May 16 with shares selling for
just K25,000 each with as many as
5,425 being traded.
Despite the price per FMI
share on May 17 fetching K25,000,
it didn’t affect the trading of shares
with more than 10,000 shares traded on the market floor that day.
“People from the countryside
bought shares after hearing the
prices had increased. But interest
has withered now with the complete depreciation in share prices. Profits aren’t shown so it’s
not exactly known what activities are being conducted.” said
U Tin Ko, a businessmen from
Pyawbwe township.
This coming May 20 will
see Thilawa SEZ Holding commence sales of shares in its
company on the YSX, joining
FMI as the only two permitted
companies of the six listed companies to trade shares.—Myitmakha News Agency
Samsung smartphones, tablets to be
purchased in instalments through KBZ
I. MY.
SAMSUNG MyanmarITALIA
has an- plan in cooperation with KBZ.
nounced that seven Samsaung The current accounts will have
MYANMAR
products will be available
for no access to interest from the
purchase in six-month
instal- bank, whereas other accounts
BUSINESS
ments with zero interest through that pay interest will remain
COUNCIL
Kanbawza (KBZ) starting from unchanged. We have a plan to
16 May.
add other Samsung products to
These seven Samsaung this programme,” said Ko Zarni
products include five smart- Win Htet, head of the IT and
phones—Galaxy S7 Edge; Mobile Department of SamGalaxy S7; Galaxy Note5; Gal- saung Myanmar.
axy A5 (2016); and Galaxy A7
Those who wish to buy
(2016); and two tablets—the these Samsung products in in8-inch Galaxy Tab S2 and the stalments can do so by opening
9.7-inch Galaxy Tab S2.
a Current Account as well as a
“Samsung Myanmar has Call Account. Owners of these
introduced the new purchase accounts will be able to pur-
B. C.
Corso Re Umberto, 8
10121 – Torino
ITALY
phone: +39 011 506 1611
e-mail: segreteria@imybc.it
site: www.imybc.it
chase up to two smartphones or
tablets per account.
The minimum amount of
money that buyers must keep in
the accounts will vary by product, and money cannot be withdrawn from the account during
the duration of the six-month
programme.
The products have oneyear Samsung official warranties, and the programme
includes door-to-door service.
Buyers can also participate in
other promotion programmes
related to the products they
buy.—GNLM
16 - 22 MAY 2016
LPG license to be issued extensively
MINISTRY of Electric and Energy has announced that it will
begin issuing licenses for Liquefied Petroleum Gas (LPG) in
masse to ensure the regulation
and legal trade of LPG. The license will enable entrepreneurs
to engage in import, storage,
sale and distribution of LPG.
The business people who
wish to engage in LPG related businesses can apply for a
license which will be granted
before July, according to announcements from the Ministry.
There are five different
licenses for LPG related businesses. Currently, the import licenses have already been issued
to seven private companies, six
of which had previously held
licenses for storage, sale and
distribution, according to the
Ministry.
Mainly LPG is used in restaurants and the home. But the
future of LPG in Myanmar will
focus on producing energy in order to power Myanmar’s hunger
for electricity.
According to the United
Nations 2030 Sustainable Development Goals, along with a
US$400 million loan from the
World Bank in 2015 is to connect 60 per cent of Myanmar to
the nationwide grid, while 40
per cent will connect to off-grid
electricity by 2021, according to
a report released by the Center
for Strategic and International
Studies in October 2015.
The largest exporter of LPG
to Myanmar is Thailand.—NG/
Union Daily w/ GNLM
Car showroom sizes
reduced by 50 per cent
THE Supervisory Committee of rooms should be issued with the
Motor Vehicle Imports has an- permits depending on the numnounced that showroom space ber of cars they actually keep.
will be reduced by 50 per cent.
The space for showroom and sale
Car showrooms are current- centers is currently around 10,000
ly 10,000 square feet wide, but square feet and so there are the
are to be reduced to 5,000 square space difficulties setting up showfeet, in order to create more rooms downtown. “Our associaspace allowing business owners tion asked the authority to set up a
ITALIA
to expand into condense
areas.
space of around 4,800 square feet
Showrooms shouldMYANMAR
be given for showrooms,” said an importer.
extra if they are really using the
The number of the legal
BUSINESS
space for keeping cars.
Show- business people will increase
I. MY.
if the government relax regulations and reduce the size of
showrooms. The authority concerned should have reduced the
space of the showrooms rather
than reducing the storage space,
said one car dealer.
Currently, the space of the
showrooms was reduced only
10 per cent, rendering the showrooms and sale centers in Yangon with space difficulties.—
MLT/Union Daily
B. C. COUNCIL
Kaymu online shopping site hits 2,000 retailers
THE German online shopping
website Kaymu has announced
that it has successfully connected
with over 2,000 retailers in Myanmar over the last two years.
“We’ve seen an increase in
sales by approximately 20 per cent,
which is mainly to do with people
having more trust toward online
shopping,” said Alexander Wiederin, a business development exec-
utive for Kaymu Myanmar.
The Kaymu website features
over 2,000 stores, shopping transactions taking place between 200
and 500 of those stores every day.
Products purchased are sent daily
to 58 large urban centres around
the country through Kaymu’s delivery network.
“Business was slow at the
start of trading [with Kaymu], but
Corso Re Umberto, 8
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ITALY
we’ve now sold nearly 1,000 products. The main items we sell are
mobile phones, accessories and
gadgets,” said U Aung Ko Oo.
Myanmar is still a developing
country, but the increase in mobile
phone usage throughout the country has allowed its online market to
develop rapidly, with kitchen appliances soon to go on sale online.
“The main issue with online
shopping is discrepancies between the advertised photo of the
product and its actual quality. You
also can’t exchange shoes should
the size you purchase not fit properly. On top of that, I’ve experienced costly delivery fees because
of not living on the main road.
Even the township delivery agents
aren’t familiar with the roads in
the township, frequently calling
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me for directions and disrupting
my work,” said Ma Nan Chit from
Yangon’s Mingala Taung Nyunt
Township.
Kaymu is a venture of the
German Rocket Internet company,
which first started its operations in
Nigeria and Pakistan in 2013 before setting foot into the nascent
Myanmar market the following
year.— Myitmakha News Agency
16 - 22 MAY 2016
Agriculture, fishery products
exports rise at border trade camp
THE export volume of agriculture
and fishery products this April
through the Kawthaung border
trade camp was over US$3.254
million higher than last April, according to an official from the trade
camp.
The Kawthaung trade camp,
located along the Thailand-Myanmar border, saw an increase of
$880,000 from fishery exports this
April.
The border trade camp exported aquaculture products, including
various fish, prawns, eels and octopus. Coconut, rubber, timber and
other agriculture products were
also exported to neighbouring
countries.
The import volume at the
trade camp also rose last month
above the volume from the same
period last year. Myanmar mostly
imported construction equipment,
fertilisers, medicines, household
utensils and consumer products.
According to local exporters,
the export volume generally decreases when fish catching is strictly forbidden during the off season
announced by the fisheries department. Among the import materials,
imports of cement normally decline during bad weather.
Myanmar mainly trades with
Thailand, China, India and Bangladesh through its 15 cross-border
trade camps.—MPPS/Union Daily
Salt shake up conducted by UNICEF
UNITED Nations Children’s
Fund (UNICEF) has been providing the technical assistance
to improve the refining process
of raw salt in Mon and Rakhine
States, as well as the Ayeyawady
Region, said Mon States’s chairperson of the Salt Entrepreneurs
Association, U Win Htein.
UNICEF has been assisting
on developing refiners’ knowledge on the drying process. Under
its technique, the salt is placed on
a plastic tarp to dry. To produce
refined salt, the process of refining salt has to be changed. The
manufacturers need to use the
I. MY.
B. C.
drying pots, which has been the
process internationally for some
time, so in order for Myanmar to
meet international standards it is
ITALIA
necessary for the refiners to meet
these
standards in order to export
MYANMAR
the product, he added.
BUSINESS
Seventy salt factories in Myanma,
produce 180,000 tonnes of
COUNCIL
refined salt and 250,000 tonnes of
raw salt each year year. Around
30,000 to 50,000 tonnes of salt are
imported from other countries. Local salt production requires access
to more investments and to help establish factories and improve their
capacities.—WWP/Union Daily
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Myanmar exports over 40,000 tonnes
of rice up until beginning of May
MYANMAR’S rice export including broken rice up until the
beginning of May this fiscal year
has reached 43,753 tonnes, generating over US$15 million, according to the Ministry of Commerce.
The current export volume
is lower than during the same period last fiscal year. It is directly
linked to China’s crackdown in
March.
The majority of rice went
to China through border trade
camps.
A rice trader at the Muse
border trade camp said the cur-
rent rice market is down because
of transportation barriers that was
effectine after the end of China’s
crackdown at the border.
About 1,300 tonnes of rice
from different towns across the
nation have entered Muse market
during the last few days. Around
6,500 tonnes of rice entered the
market in the first week of this
month.
Myanmar earned over $11
million through rice export and $3
million from the export of broken
rice. That puts it at $36 million
less than during the same period
last FY.—ML/Union Daily
Junction City Tower in downtown
Yangon nearly complete
THE construction of Junction
City Tower in downtown Yangon is 70 per cent complete and
is expected to be finalised within
the first four months of next year
according to the pro ect manager
ointly organised by the
hwe aung roup of ompanies and Singapore-based Keppel
and td the pro ect is being implemented at the corner of hwe
Dagon Pagoda Road and Bogyo e oad
Designed by Singaporean
architects the tower will cover
office apartments a shopping
centre a five star hotel residential apartments and serviced
phone: +39 011 506 1611
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site: www.imybc.it
apartments
he tower has been built
with the use of ingapore’s stateof-the-art technology that will
help reduce environmental impacts and energy consumption
from 15 % to 70 % by use of energy-saving facilities
unction ity designed by
rchitects from ingapore
will include a five-star hotel to
be operated by an acific otels
and an office tower to be developed in collaboration with ingapore’s eppel and company in
addition to a shopping centre and
serviced apartments
ACM/
Union Daily
s the special
16 - 22 MAY 2016
Myanmar Citizens Bank to be third company listed on YSX
THE Myanmar Citizens Bank
will be the third listed company to trade stock on the Yangon
Stock Exchange (YSX) according to U Thet Htun Oo, executive senior manager.
Information relating to the
Myanmar Citizens Bank is currently under scrutiny by the relevant authorities. It is expected
to take three months before the
MCB will be allowed to commence stock trading, he added.
“We’ve been scrutinizing
the bank since April. We expect the stock exchange to start
in July”, said U Myint Win, the
managing director.
The Myanmar Citizens
Bank began operations and
banking services in 1992. It is
known to have capital in circulation amounting to K52 billion. Currently, there are a total
of 1,700 share holders in the
bank. To promote investment,
the bank began conducting share
trading in foreign countries in
May, it has been learned.
The Stock exchange at YSX
was established with the First
Myanmar Investment (FMI)
Company on 15 March this year.
Myanmar Thilawa SEZ Holdings
(MTSH) Public Limited planned
to launch its stocks at YSX today
and it is recorded as the second
listed company on the YSX. The
decline in FMI share selling was
a result of the high attraction by
investors in MTSH’s shares.
There are six companies
which have been approved for
the YSX and the shares of the remaining companies will be sold
as soon as possible, according to
economist experts—PPN/Union
Daily
Price of mushrooms rises in Kyaukpadaung Township
THE price of mushrooms has increased in Kyaukpadaung Township, Mandalay Region because
of lower production, local green
grocers say.
Farmers can make a healthy
profit on deals this season because
of lower production, which is associated with the strong El Niño
weather front, which has hit Myanmar’s dry region this year.
The total production of all
mushroom plantations has decreased by 35 per cent this season
compared with the same period
last season. The current demand
for mushrooms is high in the local market. The selling price for a
viss (1.6 kilos) of mushrooms has
increased to K5,500 from K3,000.
Growers in the area usually
cultivate mushrooms on a small
scale every season. They mainly
distribute their products to Natmauk, Nyaung U, Chauk, Yenangyaung and Taungtha townships.—SS/Union Daily
Philippines
invites Myanmar to
ITALIA
I.carry
MY. outMYANMAR
paddy joint venture
BUSINESS
B. C.
THE Philippines-based agriculture Myanmar citizens through a conCOUNCIL
company SLAC has invited
local tract system. The company plans
Myanmar agribusiness operators to export their product to its native
to enter a joint venture in paddy country which currently faces aggrowing.
riculture losses because of climate
Currently, trial plantings of change. The new strains can better
two different strains of high yield- survive in bad weather and yield
ing paddy are being carried out in 30 per cent more than other strains.
Dagon in Yangon by the Filipino Myanmar enjoys fertile land that
company.
makes it suitable for growing padThe company attempted to dy nation-wide. This is one of the
form a strong business relation- given reasons for SLAC to make
ship by way of a joint venture with efforts to cooperate with local busi-
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ITALY
phone: +39 011 506 1611
e-mail: segreteria@imybc.it
site: www.imybc.it
nesspeople. The amount of rice
exported by Myanmar is also expected to rise in the future if the JV
project is successful.
The demand for Myanmar
rice in Europe has risen this year.
Myanmar exported about 1.8
million tonnes of rice, including
400,000 tonnes of broken rice, over
the 2014-2015 fiscal year, up from
1.27 million over the 2013-2014
FY and 1.46 million over the FY
2012-2013.—PPN/Union Daily
travel
sit the
Singagiveahance
lucky
Travel
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Airon and
weekly
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16 - 22 MAY 2016
Industrial Zones development
co-operation committee formed
AN industrial zones development co-operation committee
has been formed under the guidance of the Federation of Industrial Manufactures (FIM) with a
view to co-ordinating and aidding
co-operation between and among
industrial supervisory committees to find solutions to common
problems.
The industrial zones development cooperation committee
includes a chairman and seven
joint chairmen, four secretaries
and 52 members from 29 industrial zones of Yangon Region.
Small and medium sized enterprises are in the majority in Yangon industrial zones. The industrial
zones are faced with difficulties
relating to infrastructure. The committee has been formed to fulfill the
needs of the industrial zones and to
effectuate the economic development of the entrepreneurs of the
zones, said U Aung Thein, the vice
chairman of FIM.
The committee needs to
make efforts for the required laws
and policies to be formulated. It
will report on the difficulties of
SMEs to responsible persons. It
will conduct to build the new industrial zones. It will also have to
upgrade the zones to meet international industrial zones standards. The industrial development
committee will have to submit
reports to the ministry concerned
and the regional government in
a timely manner.—PTK/Union
Daily
Electric Power & Energy Ministry to
buy more than 5,300 transformers
ITALIA
I. for
MY.
electrification
plan
MYANMAR
THE Ministry of BUSINESS
Electric the World Bank to buy 5,370
Power and Energy COUNCIL
will buy transformers to in order to supmore than 5,300 transformers ply power to villages located
through the international com- within 2 miles of the national
petitive bidding system as part grid.
of its electrification plan for ruOfficials of the minisral areas.
try held talks in Nay Pyi Taw
The ministry has revealed yesterday with local compathat it will spend some of nies which produce and import
the US300 million loan from transformers, clarifying the
B. C.
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ITALY
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site: www.imybc.it
bidding system.
Officials of the ministry
reiterated that the World Bank
would assist local companies
in producing the transformers
through its loans granted to
Myanmar in order for the local
producers to find both domestic
and international markets.—
Myanmar News Agency