- The World Bank has announced a $2 billion development program in Myanmar focused on improving energy and healthcare.
- The program aims to help boost a country where less than 30% have reliable electricity access and large rural areas lack healthcare.
- China's foreign investment in Myanmar has reached $14 billion according to Myanmar's Investment Commission, making China the largest investor. Most Chinese investment is in electricity, mining, hydropower, oil and gas.
- Myanmar hopes to boost GDP growth to 7% in the current fiscal year, up from 6.5% last year, according to the minister for national planning and economic development. This is part of meeting several national targets.
Myanmar Business Today Covers Launch of Yangon Stock Exchange, Telco Licenses
1. Myanmar Business Today
mmbiztoday.com
February 6-12, 2014
MYANMAR’S FIRST BILINGUAL BUSINESS JOURNAL
mmbiztoday.com
February 6-12, 2014 | Vol 2, Issue 6
for Myanmar,
Htet Aung
Myanmar Summary
T
Myanmar, and will help boost
a country where less than 30
percent of the population has
reliable access to electricity and
large parts of the rural community have little or no access to
healthcare.
“We are increasing our supunder way in Myanmar because
we want to help the government
even more quickly,” Kim said
cess to electricity in a country
like Myanmar can help transform a society. Children will
be able to study at night, shops
will stay open and health clin-
urÇmhbPfrS jrefrmEdkifiHtwGuf zGHUNzdK;
wd k ; wuf a &;twG u f taxmuf t yH h
aumif;rsm;ay;aeNyD; ,cktcg pGrf;tif
zGHUNzdK;wdk;wufrIESifh usef;rma&;u@rsm;
wG i f t"d u tm½Hk p d k u f v k y f a qmif & ef
twGuf tar&duefa':vm 2 bDvD,H
wefzdk;&Sd zGHUNzdK;wdk;wufa&;tpDtpOfwpf
&yfudkvnf; xkwfjyefaMunmcJhonf/
,if;aMunmcsuftm; urÇmhbPf
Ouú|jzpfol Jim Yong Kim u
jrefrmEdkifiHokdY a&muf&SdvmpOftwGif;
xkwjf yefaMunmay;cJjh cif;jzpfum jrefrm
EdkifiHtaejzifhvnf; vlOD;a& 30
&mcdkifEIef;atmufom pdwfcs,HkMunf&
onfh vQyf p pf p G r f ; tif ukd &&Sd a eNyD;
aus;vufa'orsm;taejzifh usef;rm
a&;apmifha&SmufrIu@wGif tenf;i,f
omvufvSrf;rDjcif; odkYr[kwf vHk;0
vufvSrf;rrDrIrsm;vnf; &Sdaeonf/
jrefrmEdkifiHwGif aqmif&Gufaeaom
BuD;rm;vSonfh jyKjyifajymif;vJrIBudK;yrf;
csufrsm;twGuf taxmuftyHhrsm;udk
ydrw;kd íaxmufyunay;aeNy;D jynfol
k kd
hH l D
rsm ;tm; tusKd ; aus;Zl ; aumif ; rsm ;
vsifjrefpGm&&SdvmEdkifa&;twGuf tpdk;&
Contd. P 7...
Contd. P 7...
Soe Zeya Tun/Reuters
he World Bank has announced a $2 billion development programme in
Myanmar, which will focus on
improving energy and healthcare in one of Asia’s poorest
countries.
The announcement was made
during a visit by bank presi-
A man uses his mobile phone on a bridge in downtown Yangon. Last week, the government granted licenses to two international companies who are expected to begin operations within six months.
Telenor and Ooredoo given 15-year licenses, services expected within 6 months
Oliver Slow
W
hen UK-based businessman Ryan Taylor
arrived in Myanmar
in early 2012 looking for potential business opportunities
in the recently opened country,
it took him three days to track
down a SIM card.
cost me more than $100,” he
said. “I’d been in Thailand a few
days prior to that and had got
one for free.”
After a short visit, Ryan returned to Myanmar a few
months later and found that
the SIM card he had bought no
longer worked. “Apparently,
because I hadn’t used the SIM
one, I couldn’t believe that it
Contd. P 9...
Myanmar Summary
,lautajcpduf pD;yGm;a&;vkyief;&Sif
k
f
jzpfonfh Ryan Taylor onf jrefrm
EdkifiHodkY 2012 tapmydkif;wGif a&muf&Sd
vmcJhNyD; rMumao;rDurS zGHUNzdK;wdk;wufrI
vrf;aMumif;ay:odkY a&muf&Sdvmonfh
jrefrmEdkifiHwGif pD;yGm;a&;vkyfief;tcGifh
Contd. P 9...
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2. LOCAL BIZ
2
Myanmar Business Today
February 6-12, 2014
MYANMAR’S FIRST BILINGUAL BUSINESS JOURNAL
Board of Editors
Editor-in-Chief - Sherpa Hossainy
Reporters & Writers
Sherpa Hossainy,Kyaw Min, Shein Thu Aung,
Phyu Thit Lwin, Htet Aung,
Su Su, Aye Myat, Daisuke Lon, Yasumasa Hisada
mmbiztoday.com
Bangladesh Aiming to Court Neighbouring
Myanmar
ter Maung Maung Thein as saying, “The exchange will
be established with a starting capital of K32 billion with
tance on their country’s relationship with Myanmar
as its eastern neighbour emerges from decades of economic stagnation.
Speaking at the seventh meeting of the BangladeshMyanmar Joint Trade Commission (JTC), which was
percent stake,” before adding that the government is
May Su Hlaing
Hoque, vice president of Bangladesh-Myanmar Chamber of Commerce and Industry said that Bangladesh
needs to take its neighbour seriously in strengthening
economic ties in order to boost trade.
“Businesspeople should be involved very seriously in
designing any future plan,” he told Bangladeshi press.
Translators
Shwe Mann ‘would cooperate with Suu Kyi’
Art & Design
Zarni Min Naing (Circle)
DTP
Shein Thu Aung, Phyu Maung
Advertising
Tay Zar Zaw Win, Seint Seint Aye, Moe Hsann Pann
Advertising Hotline - 09 7323 6758
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pkajorn@hotmail.com
Email
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Editor - 09 42110 8150
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Parliamentary Speaker Thura Shwe Mann said last
week that he would cooperate with opposition leader
Aung San Suu Kyi if she becomes the country’s President following the 2015 elections.
However, Shwe Mann, who is also chairman of the ruling Union Solidarity and Development Party (USDP),
made it clear that amending the constitution to ensure
that Suu Kyi can legally become President, should she
win the election, is not at the top of his party’s priorities.
“If she was elected president, I would work together
with her for the sake of the country’s development,” he
said. “I have no objection to her becoming president.”
Aircraft Fuel Consumption Increases for Fifth
Consecutive Year in 12-13 Fiscal
Myanmar sold 28.58 million gallons of aircraft fuel
Across the country, there are 11 airports distributing
lay as well as smaller destinations such as Dawei, Myeik
and Mawlamyine.
Publisher
U Myo Oo (04622)
year previously.
Printing
Shwe Naing Ngan Printing (04193)
No. 1A-3, Myintha 11th Street,
South Okkalapa Township, Yangon.
Tel: 951-850 0763,
Fax: 951-8603288 ext: 007
Yangon Stock Exchange ‘needs K32 billion in
start-up capital
change, which is being tipped to be implemented in
2015, will need K32 billion ($32.5 million) in starting
capital.
-
Chief Lawyer for the go ahead, and that Japan’s Daiwa
venture.
“There are standards for companies to be listed on
the exchange. Not every company will be listed, only
companies that meet the standards required,” Maung
Maung Thein said, according to the report.
Myanmar Summary
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wefYcJh&NyD;aemufzGHUNzdK;wdk;wufrIvrf;aMumif;ay:odkY jyefvnfa&muf&d S
vmonfhtwGuf jrefrmEdkifiHESifh qufqHa&;cdkifrmrIonfta&;ygonfh
tcsufwpfckjzpfaMumif; b*Fvm;a'h&EiirS tpd;k &trIaqmifrsm; u
fS kd f H
ajymMum;cJhonf/
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G f
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zGHUNzdK;wdk;wufvmap&ef?
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Munfomor®wjzpfvmcJhrnfqdkv QifjrefrmEdkifiH zGUH NzdK;wdk;wufrI
twGufy;l aygif;aqmif&uom;zG,&aMumif;ESihf a':atmifqef;pkMunf
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2012-2013b@ma&;ESpftwGif; jrefrmEdiirSav,mOfavmifpmqD
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xkwfj yefc suft& od&onf/ jrefrmEdkifiHwpf0ef;wGif NrKd UBuD;rsm;jzpf
ao&efukefESifh rEÅav;tjyif xm;0,f? NrdwfESifh armfv NrdKifwdkYtxd
tygt0if avmifpmjzefYjzL; ay;onfh avqdyfaygif; 11 ck&SdaMumif;
od&onf/
2011-2012 b@ma&;ESpfwGif av,mOfavmifpmqD a&mif;cs&rI
yrmPrSm*gvef 26.
52 rDvD,HjzpfaMumif;vnf; od&onf/
jynfwi;f rD',mrsm; owif; azmfjycsuft& &efukefpawmhtdyfcsdef;
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G f
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aiGvkH;aiG&if;rwnfrtjzpf vdtyfrnfjzpfaMumif; od&onf/
I
k
3. LOCAL BIZ
3
Myanmar Business Today
mmbiztoday.com
February 6-12, 2014
Joint Secretary of Myanmar’s Federation of
Chambers of Commerce
and Industry (UMFCCI),
U Aye Lwin.
The majority of Chinese
investments have been
in the areas of electricity,
mining, hydropower and
oil and gas. Oil and gas is
the area with the highest
Chinese investment, followed by electricity.
ures, in 11 sectors, Chinese companies are operating 381 enterprises,
Files
of income from foreignbacked projects.
The majority of Chinese investments in Myanmar are in the latter's growing oil and gas industry.
“China not only stands
at the top of investment
Phyu Thit Lwin and
Htet Aung
C
hina’s foreign investment in Myanmar has reached
mar Investment Commission, as it continues to be
the largest investor in the
formerly isolated nation.
Htet Aung
M
yanmar hopes to boost Gross Domestic
cal year to K66.2 trillion ($67 billion),
according to Dr Kan Zaw, minister for national
planning and economic development.
Speaking at the First Pyidaungsu Hluttaw
Ninth Regular Meeting, Dr Kan Zaw said that
trillion.
number of national targets. Among them, we are
than last year,” he said, revealing that the target
percent to 6.5 percent.
Myanmar Summary
2014-2015b@mESpfwGifjrefrmEdkifiH jynfwGif;tom;
wifxkwfvkyfrIGDPtm;usyf66'or235706x&Dv,zkd;
D H
txdjrifwufvm&efcefre;f xm;aMumif; trsK;d om;pDrue;f ESifh p;D
h
Y S
H d
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wmuHaZmfu ajymonf/
a'guf w muH a Zmf u yxrtBud r f j ynfaxmifpkvTwfawmf
e0ryHretpnf;ta0;wGif ,ckuokYd ajymMum;oGm;cJjh cif; jzpfNyD;
k S f
hJ
2013-2014 b@mESpfwGif jrefrmEkii GDP rSm usyf 59
d f H
'or 248953 x&DvD,H&SdNyD; vlOD;a&rSm 62 'or 177
oef;txd wdk;wufvmrnf jzpfum ESpfpOfwdk;wufEIef;rsm;udk
okn'or 98 &mcdkifEIef;txdv smxm;aMumif;a'gufwmuH
aZmfujynfaxmifpkvTwfawmftpnf;ta0;wGifajymMum;cJh
onf/
also seen an increase in
border trade and regular trade annually,” said
operations totaling $6.3
billion, or 18.65 percent
of the total, followed by
South Korea, with 71 opof $2.9 billion, or 8.69
percent.
cials revealed last month
that they are targeting
Myanmar-India border
trade to reach $3 billion
by 2015.
Myanmar’s
relatively
new quasi-civilian government has eased tax at
border stations, say border entrepreneurs, which
ish between the neighbouring countries.
“Due to the current
situation, border trade
has increased. Also, road
conditions have improved
which has helped the situation,” said one border
trader, revealing that the
majority of goods traded
were beans and forestry
products.
Myanmar Summary
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jr§KyErI jyKvyonfh Ediiaygif; 25
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EdkifiH&Sdonfhteuf w½kwfEdkifiH
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d
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k f H
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vma&muf&if;ESD;jr§KyfESHwJh EdkifiH
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S
tqifhrm &yfwnfae½Hkwifru
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f G f I kd
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f
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rSL; OD;at;vGifu qdkonf/
jynfyEdiirsm;rS pD;yGm;a&;u@
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&if;ESD;jr§KyfESHrIyrmPrSm a':vm
34. bDvD,H&SdaMumif; od&
2
onf/
4. 4
Myanmar Business Today
LOCAL BIZ
February 6-12, 2014
mmbiztoday.com
Aye Myat
M
yanmar has attracted
$1.92 billion dollars in
foreign investment to
boost its hotel and tourism sec-
revealed.
hotel rooms in 923 hotels, motels and guest houses across the
country, according to the Directorate of Hotels and Tourism.
The Ministry of Hotels and
Tourism has granted operation licenses to a total of 1,350
tourism companies including
one foreign company, 25 joint
panies.
It has also issued 196 tourismrelated transport licenses and 3,
667 tour guide licenses.
According to the Myanmar
Investment Commission, it has
allowed more investment in the
hotel building and manufacturing sectors this month, creating
new job opportunities.
To meet the growing demand
for hotels, the ministry has approved the establishment of 11
more hotel zones in three regions of the country, namely
Aurelia Rusek
leased by the Ministry of Hotels,
the bulk of investment comes
from Singaporean companies,
which make up $880 million,
followed by Thailand ($235
million), Japan ($183 million)
and China ($150 million).
The investment is spread over
39 projects in the sector, some
of which have been completed,
while others are still under construction.
tharyi.
long been popular tourist destinations, but Tanintharyi is
growing in popularity due to
its pristine beaches and close
proximity to Thailand, which
is becoming more accessible as
Myanmar’s government opens
border stations as tourism interest in the country increases.
Meanwhile, the number of
tourist arrivals is expected to
rise this year as many foreign
visitors are destined to visit Mymits to be hosted by Myanmar
Last year, Myanmar attracted
over 2 million tourists, of whom
through airports.
Visa-on-arrival for
visitors
their travel to the country.
Myanmar Summary
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tvufrsm;t& jrefrmEdiionf 2013k f H
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c&D; oGm;u@zGHU NzdK ;wdk ; wuf r I twG uf
EdkifiHjcm;&if;ESD;jr§KyfEHSrIyrmP tar&d
uefa':vm 1.92 bDvD,Htxd &&Sd
atmif pGrf;aqmifEdkifcJhaMumif; od&
onf/
[dkw,fESifhc&D;oGm;vma&;0efBuD;Xme
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h
f
rsm;t& pifumylukrÜPDrsm;rSm &if;ESD;
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f HS I
k f
a':vm 880 rDvD,Htxd &if;ESD;jr§KyfEHS
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NyD; tar&duefa':vm 235 rDvD,H?
*syefEdkifiHrS tar&duefa':vm 183
rDvD,HESifh w½kwfEdkifiHrS tar&duef
a':vm 150 rDv,H &if;ESD;jrK§ yEcJonf/
D
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aygif; 39 ckü &if;ESD;jr§KyfESHcJhMuNyD; tcsKdU
pDrHudef;rsm;onf tNyD;owfvkyfqmif
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vuf&SdwGif taumiftxnfazmfaqmif
&Gufv suf&Sdonf/ [dkw,fESif h c&D;oGm;
vkyfief;ñTefMum;rIOD;pD;XmerS tcsuf
tvufr sm;t& jrefrmEdkifiHwGif [dkw,f
aygif; 923 vHk;rS [dkw,ftcef;aygif;
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ESifh {nfha*[mrsm;vnf;&SdaMumif; od&
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[dkw,fESifhc&D;oGm;vma&;0efBuD;Xme
rS c&D;oGm;vkyfief;aygif; 1350 udk vkyf
ief;aqmif&GufcGifhvdkifpifrsm;udk cGifhjyK
ay;cJhNyD; jynfyukrÜPD 1 ck ? zufpyf
vkyfief;aygif; 25 ckESifh jynfwGif;
ukrÜPDaygif; 1324 ck tygt0ifjzpf
aMumif; od&onf/
5. LOCAL BIZ
5
Myanmar Business Today
mmbiztoday.com
February 6-12, 2014
Reuters
key priority areas, those
being electricity, water
supply, agricultural development, employment,
opment and trade and investment.
The two-day forum,
organised by the Ministry of National Planning
ment, was also attended
by World Bank President
nomic and Social Commission for Asia and
President Thein Sein has called on development partners in the country to cooperate with the government.
Aye Myat
opment reform.
P
said, has created favourable conditions for national reconciliation with
mutual
understanding
built with ethnic minority groups, although his
comments come at a time
when his government is
coming under heavy criticism from the international community for another alleged massacre of
Rohingya Muslims in Rakhine State - something
the government is denying took place - as tensions continue between
Rohingya and Rakhine
Buddhists.
With regards to economic reform, Thein Sein
said that the country saw
a 7.3 percent GDP growth
in 2012-2013, up from
a predicted 6.7 percent
growth and the country
continues to attract foreign investment despite
some concerns regarding
creaking infrastructure
and high land prices.
He added that the reform of public administration would involve
reducing central control
and improving the capacity of local governments,
while the fourth referred
to improving conditions
for trade, as well as logistical and institutional infrastructure.
In
the
remaining
months of his term, Thein
Sein said that his government will focus on seven
resident Thein Sein
has urged development
partners
working in the country
to cooperate with the
government as Myanmar
continues its transition
towards genuine democracy.
Speaking at the Myanmar Development Cooperation Forum, which was
hosted in Nay Pyi Taw under the theme of “Accelerating Actions for Progress
sive Coordination”, Thein
Sein spoke of the need for
systematic management
in order to continue the
economy’s growth.
The government, he
said, is predicting a 9.1
percent GDP growth for
which will be aided by
velopment plan that will
streamline
Myanmar’s
aid, support and assistance needs in line with
development priorities,
making the country’s deAlmost three years into
his presidency, which
may be extended beyond
national elections cited
for 2015, Thein Sein said
that the government is
implementing four phases of its reform process,
notably political reform,
economic reform, public
administration
reform
and private sector devel-
Secretary Noeleen Heyzer
as well as other ministers
and businesspeople.
This year’s event is the
second of its kind, folment Cooperation Forum
which was hosted in Nay
Pyi Taw in January 2013.
Myanmar Summary
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twG uf yl ; aygif; aqmif & G u f ol
rsm;taejzifh tpdk;&ESif h yl;aygif;
aqmif&GufoGm;Mu&ef EdkifiHawmf
or®wBuD; OD;odef;pdefu wdkuf
wGef;ajymMum;vdkufonf/
aejynfawmfü jyKvkyfusif;ycJh
aom zGHUNzdK;wdk;wufa&;qdkif&m
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6. LOCAL BIZ
6
Myanmar Business Today
mmbiztoday.com
February 6-12, 2014
at a time that the two international companies, Telenor and
Ooredoo, roll out their services,
is likely to lead to further job
prospects.
“Ooredoo Myanmar requires
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pany will open sales centres
throughout the country,” said
Thiri Kyar Nyo, Ooredoo’s Public Relations Manager. “During
the most recent Ooredoo Myanmar job fayre, we had a great
Ooredoo
she said.
The government has also announced that it plans to host job
fayres in order to help create
job prospects as the country’s
economy opens up.
Myanmar's employment market is expected to see a growth in the coming years, particularly as international companies, such
as telecoms giant Ooredoo, move into the country.
Phyu Thit Lwin and
Htet Aung
Myanmar Business Today that
a mushroom in sales and ser-
ouths in Myanmar look
set to take advantage of
the increasing number of
businesses arriving in the country, as job opportunities will be
created, according to sources
within the employment industry.
U Than Soe, editor-in-charge
of Job Opportunity Journal told
local employment market.
Others in the employment industry urged young people looking for work to maintain professionalism if they want to gain
good jobs with international as
well as local companies.
Phyu Thit Lwin
tend to use much more traditional techniques to breed their
livestock and we need to change
that culture if we want our exports to grow,” she added.
There are currently 130 freezer factories exporting marine
products abroad, but the majority of those only export the raw
materials as they do not have
the necessary or technology to
produce the value-added products,
Daw Toe Nandar Tin added
that another problem is that
D
ue to weak technology
and knowledge in the
breeding of livestock,
most of the marine products
exported by Myanmar abroad
are done so as raw materials,
according to sources in the industry.
Sources believe that entrepreneurs are losing a huge amount
of potential income as their
products lack value and if Myanmar can implement systems
to improve the quality of their
exported products, then the
eases due to the conditions in
many of the breeding grounds
and urged the government to
help the entrepreneurs and
contribute to advanced technology within the industry.
Many businesses operate
their own aqua-culture ponds
and cool storage facilities but
many have said that costs are
high, electricity power supply is
inadequate and technology and
knowledge are not good enough
to produce international quality
products.
Myanmar Summary
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a&xGuueypönf;rsm; jynfyodkY wifyYkd
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Myanmar Summary
Reuers
“Through using technology
other countries produce 500
tonnes for every one hectare of
land, but in Myanmar that number is more like 10 tonnes,” said
Daw Toe Nandar Tin, chairman
of the Myanmar Marine Products Dealers Association. “We
don’t have the necessary technology here. Many farmers here
high demand. For example.
CityMart is always looking for
or high school to apply. It is important that applicants present
themselves well, dress nicely
and speak in a good way, as the
jobs are in the customer service
industry,” said a responsible
person from ThuKaSuSan employment agency.
Meanwhile, the much-publicised reforms in the telecommunications sector, particularly
Zin, who operates an overseas
employment agency, respective
ministries will help to organise
job fayre where employers and
employees can communicate
directly.
“Myanmar will host job fayres in the future. These fayres
should be in the remote areas
where there are few job opportunities available,” U Thaung
7. LOCAL BIZ
7
Myanmar Business Today
February 6-12, 2014
mmbiztoday.com
Phyu Thit Lwin
M
yanmar’s intellectual
property law is ex-
by June, sources within the industry revealed recently.
Work began on implementing
IP law in 2003 and in 2010 the
Ministry of Science and Technology pushed further forward
the plans to have it up and running.
WM
continues to process the copyright law. In 2010, the Ministry took accountability and
urged parties to progress with
the law. We are waiting for approval from the President’s Of-
open the market to other operators.
Shein Thu Aung
T
he Myanmar and Japan
governments have agreed
to revise a bilateral aviation accord allowing more Japanese and Myanmar airlines
countries, it was announced last
week.
The original accord, signed
in 1972, stipulated that only
one airline from each nation
agreement was signed following a meeting between Japan’s
Ambassador to Myanmar Mikio
Numata and director general of
the Department of Civil Aviation under Myanmar’s Transport Ministry Tin Naing Tun.
Currently All Nippon Air-
ics will have lights and energy
to power life-saving technology.
poverty.”
About a tenth of the fund,
roughly $200 million, will contribute to programmes that will
supply universal healthcare to
the country by 2030. The funding, the bank says, will increase
access to essential health services for women and children and
provide much-needed healthcare to those who cannot afford it. Another $80 million in
grants is already helping rural
communities in schools, roads,
water and other infrastructure
and further promote bilateral
exchanges,” a release announcing the deal said.
Japan is a close ally of the current Myanmar government and
is involved in a range of projects within the country, most
notably in infrastructure as the
formerly-isolated nation continues unprecedented reforms
aimed at lifting the economy
and bringing genuine democracy to the country.
Japan has cleared much of
Myanmar’s debt to them and is
heavily involved in the Thilawa
lion dollar industrial project
as plans to upgrade Myanmar’s
transport network.
projects, while other aspects of
the projects include improved
access to telecommunications
cial management systems and
providing grants to schools and
poor students.
“World Bank’s support to
developing electrical power is
very good. Many places in the
supply, so this is needed,” said
economist U Thar Lwin.
However, during his address
Kim warned Myanmar against
corruption as increased international aid comes into the
country amid the unprecedented reforms currently taking
place.
Myanmar Summary
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Recalling an incident in Bangladesh when he was forced to
shut down a programme due to
corruption, Kim warned Myanfate.
“I would not hesitate to do
evidence of corruption in any
of the projects,” he said, adding
that the Bank will monitor the
programmes closely to ensure
that the funds go into the necessary areas.
World Bank ceased operations in Myanmar, then Burma,
in 1987 after the then-ruling
military junta stopped payments on debts worth hundreds
of millions of dollars. Through
Free Trade agreement, foreign
country and if copyright law
is not enacted properly, then
the state economy could lose
around 20 percent,”” Nyunt Tin
added.
Myanmar Summary
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2003 ckESpfrS pwifum a&;qGJcJhNyD;
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xifw,f}}[k MN Associates Intellectual
Property Law Firm rS Managing
Partner OD;rif;awZñGeUf wifuajymonf/
Reuers
nese cities. The new agreement
means that other airlines will
tries with Japan Airlines one of
the airlines expected to capitalise on the new agreement.
“The revision is expected to
respond to growing needs for
expecting it in June,” said U
Min Tayza Nyunt Tin, managing partner for MN Associates
Intellectual Property Law Firm.
Copyright extends to four
parts-creation copyright, trademark, literary and artist work
copyright and industrial patent
copyright. As Myanmar attracts
an increasing number of foreign
visitors and businesses, IP Law
is seen as a crucial law.
-
products and pharmacy products very much. When Myan-
aid from Japan, last year Myanmar was able to clear debts to
World Bank and Asian Development Bank, seeing a return
of the banks at a time of muchneeded development.
During his visit, Kim also met
with President Thein Sein as
well as other government members, opposition leaders and
businesspeople in the capital
Nay Pyi Taw.
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8. LOCAL BIZ
8
Myanmar Business Today
mmbiztoday.com
February 6-12, 2014
Su Su
B
ritain’s Business Ambassador for Agriculture,
James Townshend, has
clarity on the issue of land titles
if the country is to attract further investment in the agricultural sector.
visit to the country last month,
which also saw him attend the
Townshend said that visibility
is needed when it comes to the
ownership of land and to avoid
problems such as land grabbing, something that has been
an issue for land owners in Myanmar since the country’s military-ruled days.
“It would be an impediment to
the development of the [agriculture] industry, not least because
the people who lease the land
wouldn’t have any security. If
investors don’t have security,
they can’t suitably make that
investment needed to deliver
a competitive agricultural sector,” he said, echoing a number
of points made by potential investors who have called on the
government to ensure a more
stable business environment if
they want to continue attracting
investors from abroad.
Townshend also spoke of the
importance the agricultural
sector has in terms of lifting the
economy as well as providing
jobs for the country’s citizens,
in a country where it is estimated that 70 percent of the working population are employed in
agricultural areas.
Also during his trip, Townshend made a visit to the town
of Pathein in Ayeyrwaddy region to inspect the site of a
joint-venture between local
which will produce export-qualMyanmar Summary
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a&muf&SvmcJNh yD; Livestock Myanmar
d
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Sand and Stone
Htet Aung
T
he sand and stone markets have performed well
ment and private constructions as well as apartments and
housing complexes continue to
thrive in Myanmar, sources in
the industry say.
According to construction accessory businessmen U Kyaw
Kyaw and Ko Than Htay, while
sand and stone have seen a rise
in popularity for the construction of buildings and properties, demand for brick has seen
a slight fall.
“The prices for bricks at
construction accessory shops
Files
because there is so much of it
available. However, sand and
stone orders are high, particu-
An estimated 70 percent of Myanmar's work in the agricultural industry.
Ko Than Htat, who added that
a high amount of demand for
sand and stone comes from
Thanintharyi Region in Myanmar’s south and close to the
border with Thailand.
He added that, due to the
brick market being seasonal,
many brick traders manufacture the product in bulk, which
leads to a fall in the price of the
product.
The price for units of pricks
has fallen from K125 each to
K115 given the current climate.
Myanmar Summary
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9. LOCAL BIZ
9
Myanmar Business Today
February 6-12, 2014
mmbiztoday.com
for so long, it had just expired.
With all the challenges already
presented from operating within Myanmar, the last thing you
need is trouble using a phone.”
Thankfully, woes like Ryan’s
will soon be a thing of the past
as last week the government
Daisuke Lon
I
(FMI) last week announced that it has successfully com-
shares at a price of K10,000. The shares were issues on Jan-
demand after the successful completion of issuing 2.5 million shares to existing shareholders and the company announced that it expects total gross proceeds from the sale
to reach K27.5 billion ($27.9 million), of which the proceeds
two international companies
looking to roll out their services
across the country.
Qatar’s Ooredoo and Telenor
of Norway were announced
as the bid winners on June 27
2012, but had to wait seven
months, while the Ministry of
Communications and InformaTelecommunications Law, to be
granted the 15-year licenses.
According to a press release
from the ministry, the licenses
will “authorise each operator
to build, own and operate a
telecommunications network
and to provide the full range
team up with other international companies in order to make
themselves more competitive in
the market.
Telenor, which is part owned
by the Norwegian government,
plans to launch its services
within eight months and is
looking to achieve 90 percent
years. The group also said in a
release last week that it plans
to breakeven on its investment
within three years.
“A major milestone has been
passed with the acceptance of
the nationwide telecommunications license agreement with
the Myanmar government. Telecommunications is a strategic
sector in enabling the advancement of key industries, and
this license agreement marks
the beginning of an exciting
journey in Myanmar’s development,” said Jon Fredrik Bak-
tenders for services including
to private companies.
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Myanmar Summary
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Su Su
cantly since then, but even today on the black market they
are rarely available for less than
$100.
It is thought that when Ooredoo and Telenor role out their
services within the next few
months, SIM cards will be
available for K1,500 ($1.70). In
a country where an estimated
10 percent of the 60 million
population has access to a mobile phone, clearly there is huge
potential for growth for the two
companies, who will also compete alongside local operators
Myanmar Posts and Telecom-
attended the ceremony to sign
the license in Nay Pyi Taw. “The
government of Myanmar can be
proud of a well-run license process. We look forward to continuing to work alongside the Union Government as Myanmar
develops socially, economically
and technologically.”
The licenses were granted prior to approval of the telecommunications rules and regulations, which will be released in
February, U Than Thun Aung,
director at Telecommunications
Department of the ministry told
local research group Thura
Swiss. The drafted rules and
regulations include licensing,
spectrum, access and competi-
arpon, both who are planning to
the Myanmar arm of the project.
Other projects from the country including development of
its FMI Air operations following the granting of a temporary
the ministry said it will invite
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ecommunications services on a
nationwide basis.”
During the country’s militaryrun era, the telecommunications industry was tightly controlled and SIM cards would
often cost upwards of $1,000.
eastern neighbour. The current
boost tourism development,”
he added.
aim for visa exemption agreements not just for tourists but
also to help grow the export
and import sectors between the
countries in order for trade to
Myanmar Summary
Myanmar is planning to reach
AN countries on visa exemptions by 2015, sources from the
Ministry of Immigration and
Population revealed last week.
Currently, Myanmar has visa
exemption agreements with
Laos, Vietnam, the Philippines
and Cambodia, while an agreement with Thailand was agreed
in late 2012 but has been put
on hold due to the current unrest taking place in Myanmar’s
Than, director of the ministry.
of people from within the region will come for the meetings.
An agreement would also help
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enor Group.
Ooredoo have revealed that
they plan to roll out their services within six months.
“We are delighted to be here
today to accept our license,”
10. LOCAL BIZ
10
Myanmar Business Today
February 6-12, 2014
mmbiztoday.com
Waltraut Ritter
Myanmar Summary
T
he Worldbank Knowledge
move up fast. The growth of internet access in Myanmar will
predominantly be mobile internet access. Seven percent of the
population use mobile phones;
the lowest cost for an Android
smartphone (with Myanmar
font) is $60-70 and a SIM card
with data services cost between
$5 and $130, depending on the
channel through which one
gets access to a SIM. Huawei’s
smartphones are the market
leader at the moment, followed
by Samsung.
With the opening of the country in the past two to three
years, what are the prospects
for building the foundations for
a knowledge society, a society
where knowledge and expertise become the most critical
resource and asset for national
development?
Recent reports and studies
about Myanmar (ADB 2012,
Cheesman 2012, McKinsey
2013) describe the backward-
Reuters
Myanmar as second lowest among 157 countries across
all key variables relating to ICT,
innovation, education as well as
economic incentive and institutional regime; Transparency
International’s 2013 Corruption Perception Index lists Myanmar in the bottom group of
countries, and the most recent
Internet World Statistics report
(2012) shows that internet penetration is around one percent,
although with the entry of two
international telecom operators, Telenor and Ooredoo, rolling out voice and data services
nationwide starting this month,
ness of everything related to
information, from information
laws, information access, ICT
infrastructure to internet governance.
Building the soft infrastructure, capacity, skills and mindset is another challenge. Nwe
Nwe Aye says that the government in Myanmar is still heavily
circumscribed by secrecy and
lack of transparency, and that
there is “no sense of political
rule as a participative process”
(Nick Cheesman et. al. (ed.)
Myanmar’s Transition: Openings, Obstacles and OpportuThe culture of an authoritarian
technology may act as a catalyst, but there are quite a few
countries with excellent ICT
infrastructure and non-existing
or low civic rights and public
transparency as well.
Reporters without Borders
and the Burma Media Association claim that “the structure
of the new Burmese Internet as
thorities more surveillance options, while reserving the fastest and best-quality access for
the government and military”.
They say that Myanmar’s use
of Blue Coat technologies (the
Silicon Valley tech company
providing internet censorships
equipment and services such as
Deep Packet inspection) in government agencies raises quespolicy and surveillance.
The Asian Development Bank
(ADB), which resumed operations in Myanmar in 2013, is
advising the government on ICT
strategy and public administration reform. Following their
tender for the development of
an e-Governance Master Plan, it
was just announced a few days
ago that IT services provider Infosys will be appointed as advisor for the $1.5 million project,
which also includes six months
training for 100 engineering
students. Building ICT capacity
is the basis for information and
data management across the
public sector, and also the basis for any Open Data initiative.
All major global tech companies
urÇmbPf Knowledge Economy
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11. FEATURE
11
Myanmar Business Today
February 6-12, 2014
Tan Ren Rong
M
yanmar has undergone huge changes
in recent years in an
attempt to open the country’s
doors to foreign investment and
catch up with the increasingly
modernised world. Looking at
Myanmar, women are traditionally taught to be gentle and
obedient, and were discouraged
from being career-minded as
it is thought to be the business
of the men. According to information from the International
Monetary Fund (IMF) website,
while two-thirds of women
work, which is often at roadside
stores and sometimes building
roads in rural areas, they are
engaged mainly in unskilled
work at a low, unstable salary.
With a meagre 18 percent of
women in the country having
secondary education or higher,
the vast majority of women,
usually in rural parts of the
vant skills for white- collar jobs
that earn better pay. This contributes to a widening income
gap between the rich and poor,
especially with the opening up
of Myanmar’s markets to foreign investment, which usually
provides better paying jobs for
skilled workers.
usually requiring military experience or connections that
women may lack in comparison
to men, as well as the capabilities of women not being given
as much recognition by senior
executives as it is in the private
sector. Improvements in these
sectors are slowly making their
way through the changing of
laws to allow women ministers
in previously all-male ministerial roles.
At universities in central Myanmar, while the amount of fe-
“In terms of hiring staff, according to several business women, they revealed that
while the basics of education are important,
most employers will hire based on the candidate’s willingness to work and be trained”
male attendees and applicants
are higher than that of males,
entrance marks for certain
courses, such as Medicine, are
males than for males. However,
with the education sector slowly
changing and being improved,
as well as previously male-only
courses being opened up to include females, gender equality
in terms of education is on its
terviewees, noted that an engineer in charge of renovations
for her recently opened fastfood restaurant, Harleys, was a
young woman. Hence, evident
Soe Zeya Tun/Reuters
obvious that modernisation is
creeping into the country, with
multinationals including Mercedes, Chevrolet and Hilton
entering the market, with many
new hotels opening to accomeigners each year.
While these new foreign companies undoubtedly create new
jobs for the local people, it usually favours those who have had
the privilege to pursue a higher
education, particularly those
who have studied or worked
In order to gain an insight into
the challenges faced by women
in the workforce, I interviewed
a number of career women
within the country who have
climbed their way to the top of
come successful entrepreneurs,
professionals, managers and directors.
With gender discrimination
prevalent across much of Asia,
one may expect it to be rife in
Myanmar. However, the general consensus of the interviews
was that it is not seen as a huge
issue by the women I interviewed and, on the whole, women are well-respected by men
and are considered, on most
parts, equal to that of men. A
prominent example would be
that of the popular leader of the
opposition, Aung San Suu Kyi.
In the workforce, such as the
private sector, there appears to
be virtually no gender discrimination, especially in the upper management, as individuals tend to be more liberal and
open-minded. Performance, it
seems, is the most important
criteria for promotion in this
sector and an equal amount
of respect can generally be expected from the other party.
However, there are some limitations in the government and
public sector where gender may
play more of a role in deciding promotions. This is partly
mmbiztoday.com
A shopworker serves customers at a phone shop in downtown Yangon.
changes in the education sector are showing, where more
women are working and leaving
their marks in male-dominated
industries, such as engineering
and construction.
cording to several business
women, they revealed that
while the basics of education
are important, most employers
will hire based on the candidate’s willingness to work and
be trained. Though, of course,
like
accounting,
experience
deciding factor. For hotels like
Chatrium Hotel, as the Marketing Communications Manager
Myat Mon shared, ascending
to a senior executive level usually requires good experience
plus higher education beyond
a university degree, such as a
Master’s Degree in respective
areas such as Business Administration.
While there may be occasional
gender preference when hiring
for stereotypically male jobs,
chitecture or construction, it is
tions and experience is slowly
starting to have more emphasis.
Hence, many businesswomen
continues to grow and progress,
especially with more international businesses establishing
bring along their own work culture and norms that will lead to
increased foreign interaction.
With the introduction of more
international norms and work
culture, gender discrimination
will be lessened and as individual capability and contribution
will be given more focus.
When asked about how most
career women juggle family and
work responsibilities in Myanmar, it was shared that most
of them either work with their
husbands in their own business
or have husbands who do not
mind them working as long as
they are able to perform family
duties, such as looking after the
children, though some do hire
domestic help to assist them.
In some cases, it is the women
who become breadwinners of
the family, and many of them
between family and work.
“Successful women entrepreneurs are masters of this balancing act. I’m still trying to become a master,” said Veronica
Aw of Nervin Café, a mother of
three children.
The women I have interviewed all feel that they are
become career women, and feel
that they have accomplished
a lot. Being successful in their
careers and family life, they
feel that greater recognition is
also given to them as others acknowledge that they are capable
of handling both their work and
family life well.
While it cannot be expected
in Myanmar for there to be full
equality in marriage, Veronica
Aw, among other businesswomen and entrepreneurs, believes
that men and women should
aim to share family responsibil-
Myanmar Summary
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12. FEATURE
12
Myanmar Business Today
mmbiztoday.com
February 6-12, 2014
ities in a marriage, rather than
the woman being the only or
sole family caregiver. A working mother would be unlikely to
be able to devote 100 percent of
dren, so she believes responsibilities between both parents
should become more equalized
especially in a rapidly growing
economy that brings about rising costs of living.
As for the issue of unskilled
and lowly educated women in
more rural areas of Myanmar,
associations like the Myanmar
-
in the future, as she believes
Burmese women are hardworking, and would hence climb
their way to upper management
more easily.
“Women, or anyone for that
matter, who are determined
and hardworking in their goals
Daw Cho Cho Toe said, and her
ideals were also reinforced by
many successful women I had
the pleasure of talking to.
It is only when one dares to
chase their passion that one is
determined to pour their heart
into it, and have their passion
drive their careers and life, not
their way to the top,” the foundand
challenges
head-strong,
like the women I interviewed
have demonstrated, and from
it, success will come inevitably.
“Men are not prisoners of fate,
but only prisoners of their own
mind -Roosevelt”: this way of
with the assistance from associcouraged by families to ensure
upward social and economic
mobility of women in Myanmar.
Tan Ren Rong has interned
at Consult-Myamar Co Ltd,
a business consultancy based
in Yangon. She is planning to
pursue a Diploma in International Business in April 2014.
Views are author’s own, and do
not necessarily represent those of
Myanmar Business Today.
into the mindsets of current
and future generations of girls
by the government’s future
policies and actions, as well as
tvkyfvkyfudkifae&aom trsKd;orD;rsm;
oHk;yHkESpfyHkonf vrf;ab;qdkifrsm;ESifh
wpfcgwpf&HwGif aus;vufa'orsm;wGif
vrf ; rsm;azmuf v k y f r I w G i f 0if a &muf
formed in 1995, help organise
workshops and courses that
teach important and relevant
email correspondence for these
women, as well as try to ensure
more girls are able to continue
studying these skills.
When asked about their
thoughts on women’s role in the
are preparing their investment
plans for the country, many of
them coupled with educational
programmes or civil society collaborations.
Myanmar has an active civil
society working on various aspects of information society,
from press freedom to civicdriven public libraries, such as
Beyond Access, an organization that aims to transform the
country’s vast network of 5000
public libraries into connected
information and service hubs,
MIDO (Myanmar ICT development organization, which or-
The majority of interviewees said that gender discrimination is not a major problem in Myanmar.
formed. Currently there exist
a number of outdated but still
valid laws, such as the “Burma
instated by the British Colonial
regime, which is part of the ongoing discussions on constitutional reform ahead of the 2015
elections.
This year, however, there is a
great opportunity to introduce
open data initiatives in Myanmar: the country is conducting
years. Supported by UN organisations, the data collection will
take place in March and April,
and provide a sound basis for
all further socio-economic development.
Reliable information has been
a scarce resource in the past decades, and the country data compiled by various international
organisations such as UNDP,
ITU, and Worldbank has many
gaps or only shows estimates,
Building an inclusive knowlof data, information and knowledge are available for all. Building intalligible resources is a
strategic task for any country,
regardless of its state of socioeconomic development.
lished on Open Knowledge
Foundation Blog and has been
republished here with the author’s permission. The author
can be contacted at waltraut@
gmail.com.
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country’s population range beabout livelihood, economy, and
exact size of the many ethnic
groups in the country is vague.
The latter is widely discussed in
the media in the preparation of
the census. Some ethnic groups
are worried that the census surReuers
and the Myanmar Blogger Society, which now collaborates
with telecom provider Ooredoo.
These networks and organisations could play an important
role in building the soft infrastructure of the future information society. Another initiative
with potentially wide reach is
the introduction of Wikipedia
Zero, whereby the Wikimedia
Foundation, through a partnership with Telenor, gives free access to the encyclopedia’s vast
information.
The legal side of Myanmar’s
information and internet governance also needs to be re-
Soe Zeya Tun/Reuters
time, all interviewees were positive that women would play a
larger role in the workforce as
policies and mindsets are starting to become more equalised
and liberal, as well as increasing living costs putting pressure on both women and men
to achieve better-paying jobs. It
was also predicted by Daw Lynn
Lynn that there would be more
women managers and directors
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14. REGIONAL BIZ
14
Myanmar Business Today
February 6-12, 2014
Robin Emmott
B
eijing's top diplomat has
called on China and the
sider a multi-billion-dollar freetrade deal, a once unthinkable
step that shows a big improvement in relations between two
of the world's largest markets.
"There are bright prospects
tion," Chinese State Councillor
Catherine Ashton ahead of a
visit to Brussels by President Xi
Jinping in March.
"work jointly to create conditions for launching a feasibility
agreement."
British Prime Minister David
an "investment agreement" to
countries to do business in China.
Talks on that formally began
in Beijing last week, a big step
that many see as a potential
forerunner to a free-trade deal.
plain of poor treatment in
China, such as being forced to
Clare Baldwin
U
S retailer Wal-Mart
Stores Inc has said it
will upgrade its vendor
compliance process in China,
requiring more documentation
and making use of a computerbased system to help suppliers
manage associated paperwork.
The announcement came after state-owned China Central
Television (CCTV) criticised
the world's No. 1 retailer for circumventing its quality control
process and fast-tracking some
margins.
Wal-Mart will "ensure the
correct documents and other
required items are in place before the products are sold in
our stores," the retailer said in
share sensitive know-how to
win access to Chinese funding
and local contracts.
China has doubled since 2003
to more than 1 billion euros
($1.3 billion) a day, but China
receives just 2 percent of the
Talk of a free-trade deal,
which would create a market of
almost 2 billion people, seemed
unthinkable just a year ago,
when Brussels prepared to levy
punitive import duties on billions of dollars of Chinese solar
ever trade dispute between the
two partners.
A deal to set a minimum price
for the solar panels defused the
tensions.
Myanmar Summary
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tBu;D tuJwpfOD;jzpfol Yang Jiechi
a statement.
Documentation includes lagredients, government test
reports, China Compulsory
photographs, copies of manufacturing permits, details substantiating health claims and
claims such as "organic" and
codes and papers on intellectual
property.
"This process requires the colretention of well over one million documents annually," the
company said.
"Wal-Mart China has now invested in a computer-based system enabling vendors to upload
all required legal documents.
This system was piloted in
Reuters
in December he was a strong
advocate of such a free-trade
deal.
sion, which handles international trade negotiations on
mmbiztoday.com
u tD;,l EdiijH cm;rl0g'a&;&mqdi&m
k f
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tBuD;tuJjzpfol Catherine Ashton
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tm; ajymMum;cJhonf/
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twGuf tajctaeaumif;rsm;udk zefw;D
&eftwGuf yl;aygif;aqmif&uoifaMumif;
G f h
vnf; Yang u ajymMum;cJhonf/
September of 2013 and is now
ready for broad-based application across the supply chain."
Wal-Mart, which operates
houses in China, said immediately after the CCTV report last
week that it keeps a close watch
over its supply chain.
It said it only uses its expedited special approvals process
as when a supplier changes the
size of a product or switches
distribution agents.
In the statement on Wednesday, the company explained additional steps it would take to
address supply chain concern.
Wal-Mart is the latest in a series of foreign companies CCTV
has taken to task on issues ranging from pricing to poor quality
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products and shoddy customer
service.
Reuters
Myanmar Summary
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aom China Central Television
(CCTV) u urÇmheHygwf (1) vufvD
vkyfief;BuD;jzpfaom Wal-Mart tm;
a0zefrIjyKcJhaMumif; od&onf/
Wal-Mart
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15. 15
REGIONAL BIZ
Myanmar Business Today
mmbiztoday.com
February 6-12, 2014
William Mallard
A
fter falling by almost
Prime Minister Shinzo
Abe came to power just over a
year ago, the yen is in a sweetspot for the economy.
Companies have roared back
made exports more competitive
and while import prices, notably for fuel, have climbed, im-
Research. "Many companies
have already moved production
overseas and may also become
hesitant to boost exports for political considerations."
not clamoring for a further
drop and they believe the yen's
fall has largely run its course,
a new Reuters poll shows. For
years, a strong yen had sapped
Japan's export competitiveness
Corporate Survey said they
both expect and hope the yen
will be in its current narrow
range of 100-105 to the dollar
six months from now, while
more than 90 percent predict
and want to see the Japanese
currency in a broader 90-110
range. Only 5 percent wanted
the yen to weaken beyond 110
to the dollar.
Japan. "For us the weaker the
yen gets, the tougher it gets,"
was "encouraging further depreciation of the yen by winking and nodding, if not overt
actions," said Truman, a senior
fellow at the Peterson Institute
Washington.
of Japan Airlines CO, which
pays for its aircraft and fuel in
dollars.
"But it is important for Japan's
economy to rebound, so a level
of around 100 yen is necessary"
and weakening a bit beyond 105
yen would be better, Ueki told
reporters at a new year's gathering of business leaders. "We
can adjust to it as long as there
is stability."Mitsubishi Heavy
Industries Ltd, Japan's leading
heavy-machinery maker and
Reuters
But should the yen keep falling, the drawbacks of higher
import prices and possible anger from Washington and other
trading powers could start to
er currency.
"I don't think many people
in Japan want a yen decline to
around 120 or 130 to the dollar," said Bank of Japan (BoJ)
economist Nobuyasu Atago,
who is now on a stint at the
aerospace company, would be
"grateful" for a yen slide to 115120 to the dollar, said chairman
Hideaki Omiya.
And yet, he said, "I think the
yen is balanced at the moment
around the 100-105 yen level.
From the viewpoint of both importers and exporters, a skewed
rate is not good. And with the
strong yen reversed, what we
need now is stability."
Both China and South Korea major trading rivals to Japan
which compete in a number of
markets such as auto and electronics - have raised concerns
about the slide in the yen in recent weeks.
The United States has welcomed Japan's economic rebound after Abe came to power
13 months ago promoting a
policy mix of massive BOJ easing and government spending
- dubbed Abenomics by the media.
If the yen's fall is the result,
rather than the aim, of these
growth policies, Washington
seems willing to tolerate a gentle yen decline - to a point.
"They need to get their domestic economy growing," Treasury
Secretary Jack Lew said this
month. But he said, taking questions at a forum, "their longterm growth can't be rooted in a
strategy that ultimately turns in
any way towards reliance on an
unfair advantage because of the
exchange rate.”
Ted Truman, a former senior
ment and the Fed, said that
as long as the Japanese "are
not deliberately acting to push
down the yen, I don't think, as a
matter of economics, the United States government would be
particularly unhappy."
But it was possible some US
If that is the case, "I'm sure
the Treasury is making clear to
the Japanese that if there is any
hint of that going on, it will be
a big problem," Truman said.
"And we have enough problems
with Japan as it is."
Still, current and former Japabout currency diplomacy say
a yen fall to 110 to the dollar
might not raise the heat on Tokyo - that the threshold might
be more like 120-130 yen.
Treasury and Japanese Ficlined to comment on their currency conversations.
IMF Deputy Managing Director Naoyuki Shinohara, who
concerns that the yen's weakness could lead to tensions between Tokyo and Washington.
"It is clear that what Japan
is trying to do now is beat deinterview. "There may be some
changes in the way (the U.S.
“Many companies have already moved
production overseas and
may also become hesitant to boost
exports for political considerations.”
government)
communicates
due to its relations with Congress. But I don't feel Japan's
weak yen is seen as a big problem.
Reuters
Myanmar Summary
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aMumif; Japan Airlines CO
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avmifpmrsm;twGuf aiGaMu;ay;aqmif
&rIrsm;wGif tar&duefa':vmESifh ay;
aqmif&aMumif; od&onf/
16. REGIONAL BIZ
16
Myanmar Business Today
February 6-12, 2014
Faith Hung
The group, which includes
sion Industry Co Ltd and Foxconn Technology Co Ltd, could
take advantage of geographical
proximity to open up new deals
with partners like Apple as they
develop new gadgets.
Best known for putting together iPhones, Foxconn honed its
skills by meeting Apple’s exacting standards and supply chain
rigor. It boasts a workforce of
more than 1 million, and the
scale to negotiate cheaper component prices than BlackBerry
could obtain on its own.
Gou placed emphasis on Indonesia for future development.
He said the country, rather than
India, will be best able to replace China as the world’s manufacturing hub in the future.
cials have said Hon Hai wants
to gradually invest as much as
$10 billion over 5 years with
-
T
aiwan’s Foxconn Technology Group, the major
supplier of Apple Inc’s
iPhone and iPad products, has
said it is considering expanding manufacturing to the United States in a move that could
open up new prospects for business with Apple.
Chairman Terry Gou also
said Indonesia will be a top priority for investment this year.
That would tie in with Foxconn’s deal to design and market phones in the country with
BlackBerry Ltd, as the Canadian company seeks to reverse
its decline in the smartphone
business.
“The US is a must-go market,” said Gou, speaking at the
group’s annual year-end party
last week. He said many customers and partners hope Foxconn, the world’s largest contract manufacturer of electronic
goods, will set up manufacturing facilities in the US.
Foxconn’s ambitious growth
plans could see it lift annual
revenue to T$10 trillion ($333
billion) a decade from now,
mmbiztoday.com
Myanmar Summary
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Reuters
age aimed at kickstarting the
plan. Hon Hai has yet to conReuters
Sui-Lee Wee
Su Su
Myanmar Summary
I
ndonesia’s budget carrier
Lion Air announced last
week that it is planning to
ing Co 787 aircraft and replace
them with smaller 737 models.
The carrier said it needed
widebody aircraft to accommodate more than the roughly 350
passenger capacity of the 7878, and will place a new order for
aircraft in 2015.
C
hina’s commerce ministry has called on the United States to
stop anti-dumping investigations into imports of solar power
products from China, expressing "serious concern" and vowing to defend its producers.
certain solar power products from China and Taiwan, a move that
could have a major impact on the nation's fast-growing solar market.
The US Department of Commerce said it initiated anti-dumping duty and countervailing duty investigations, which will assess
whether the products are being sold in the United States below
their fair value, or if their manufacturers receive inappropriate levels of foreign government subsidies.
"The Chinese side expresses serious concern," the commerce
ministry said in a statement on its website. "China urges the United
States again to carefully handle the current ... investigations, be
prudent in taking measures and terminate the investigation proceedings."
China will assess the impact on its solar industry and "resolutely
defend" itself through various mechanisms, the ministry said.
Myanmar Summary
Lion Air
already includes a large number
of that model. The widebody
aircraft it intends to order next
year will be used on domestic, high-frequency routes, the
company said.
The private carrier, which uses
Jakarta’s Soekarno-Hatta International Airport as its base,
has shown impressive growth
in recent years and some reports are tipping the airline to
closely challenge market leaders Air Asia. In January, Lion
Air announced a venture into
the Thai market, operating Thai
Lion Air from Bangkok’s Don
Mueang arport and also operates a Malaysian venture from
Kuala Lumpur.
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