Myanmar Business Today - Vol 2, Issue 8

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Information about Myanmar Business Today - Vol 2, Issue 8
News & Politics

Published on February 18, 2014

Author: SherpaHossainy



Myanmar Business Today is Myanmar’s first bilingual (English-Myanmar) business newspaper, distributed in both Myanmar and Thailand. MBT covers a range of news encompassing local business stories, special reports and in-depth analysis focusing on Myanmar’s nascent economy, investment and finance, business opportunities, foreign trade, property and real estate, automobile, among others. MBT also provides detailed coverage of regional (ASEAN) and international business stories.

Myanmar Business Today’s target readers are foreign and local investors, businesspeople and government officials, and our advertisers are also those who try to reach this niche market in Myanmar. We provide best solutions for our advertisers with our content, outstanding print and paper quality, and superior distribution chain. We convey our advertisers’ messages to readers not only in Myanmar but also in Thailand, Southeast Asia’s second largest economy.

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Myanmar Business Today February 20-26, 2014 MYANMAR’S FIRST BILINGUAL BUSINESS JOURNAL February 20-26, 2014 | Vol 2, Issue 8 Myanma Airways Signs Nearly $1-b Aircraft Leasing Deal Kyaw Min S mar. Myanma Airways (MA), aisle jets, according to a joint statement from the GECAS, the commercial aircraft-leasing arm of US-based General Electric Co, said the deal had a list price of $960 million and the aircraft will be delivered through 2020. markets in the region, ofways told a news conference on the sidelines of 2014 Singapore Air Show. “Myanma Airways, which has suspended international operations since 1993, is now going to re-enter the international market with the support of our good friend and partner GECAS,” Minister for Transportation U Nyan Htun Aung said. “We hope that we could become well known again to international air travellers.” pand its international routes to Japan and South Korea. Currently, its only livered in June 2015 and by GECAS. Leasing companies rent change for a monthly fee. Each 737 aircraft is worth about $90 million at list prices when ordered directly from planemaker Boeing. dhist pilgrim destination Gaya in India. “We are delighted to work with GECAS to develop and upgrade our routes into key markets in the region,” said Captain Contd. P 6... Myanmar Summary Ediiyif jrefrmhavaMumif;vdi;f k f H kd k onf urÇmhtBuD;qHk; iSm;&rf;0ef aqmifrIrsm;udk jyKvkyfay;aom ukrPBD u;D jzpfonfh GE Capital Ü Aviation Services (GECAS) rS bdk;tif; 737 *sufav,mOf Soe Zeya Tun/Reuters tate-owned Myanma Airways has agreed to lease 10 new Boeing 737 jets from the world’s biggest leasing company GE Capital Aviation Services (GECAS), marking the largest single MA will work with GECAS to develop and up- opf 10 pif;tm; iSm;&ef;oGm;&ef twGuf oabmwlnDcsuf&&SdcJhNyD jrefrmEdkifiHtwGuf tBuD;rm;qHk; avaMumif;vkyfief;wdk;csJUaqmif &GufrIwpfckvnf;jzpfonf/ jrefrmh avaMumif; t a e jzif h bdk;tif; 737-800 *suav,mOf f 6 pif;ESifh 737-8MAX *suf av,mOf 4 pif;udk iSm;&rf;oGm; rnf[k o&onf/ tar&dueftajc d pdkuf General Electric Co vkyief;cGjJ zpfaom GECAS rS f ,ckoabmwlnDcsufukd tar&d uefa':vm oef; 960 jzifh oabmwlnDcJhjcif;jzpfNyD; yxr qHk;av,mOftm; 2015 Zlviv kd f wGif vTJajymif;ay;oGm;rnfjzpf aMumif;vnf; od&onf/ bdk;tif; 737 av,mOfwpfpif; wefzdk;rSm bdk;tif;av,mOf xkwfvkyfa&;ukrÜPDrS wdkuf½dkuf rSm,ly gu tar&d u ef a ':vm Contd. P 6... German President Joachim Gauck gives a speech at Yangon University. Germany Waives Half a Billion Euro of Myanmar’s Debt Phyu Thit Lwin G ermany has signed an agreement to slash more than half a billion euro in debt owed by Myanmar, in line with a debt forgiveness agreement the Southeast Asian nation made a year ago with the Paris Club, a group of creditor countries. The agreement was signed on February 10 in Myanmar’s capital Nay Pyi Taw, during a state visit by German President Myanmar Summary by a German head of state in 26 years, state-run media reported. The remaining debt of €542 million ($741 mil- jrefrmEdkifiHrS ay;qyf&efusef &Sdaeao;onfha<u;NrD ,l½dk 500 rDvD,Hausmftm; y,fzsufay;&ef *smrPD E d k i f i H u oabmwl v uf rSwfa&;xd k ; ay;cJ h N yD j zpf a Mumif ; od&onf/ jrefrmEdii zGUH NzKd ;wd;k wufrukd k f H I taxmuf t ul j yK&ef t wG u f Paris Club rS vGefcJhonfh 1 ESpfausmfwGif a<u;NrDrsm;udk y,fzsuay;&eftwGuf aqG;aEG;rI f rsm; jyKvyconf/tqdyg a<u;NrD k f hJ k paid with a three percent interest within a period of 15 years, according to the agreement. Myanmar negotiated the deal a year ago with Contd. P 6... Contd. P 6...

LOCAL BIZ 2 Myanmar Business Today February 20-26, 2014 Business News in Brief MYANMAR’S FIRST BILINGUAL BUSINESS JOURNAL Board of Editors Editor-in-Chief - Sherpa Hossainy Editor-in-Charge - Wai Linn Kyaw Parliament calls for nuclear energy to cope with chronic power shortage ment last week urged the government to generate nuout the country, local media reported. Reporters & Writers Sherpa Hossainy, Kyaw Min, Phyu Thit Lwin, Htet Aung, Su Su, Aye Myat, Daisuke Lon, Yasumasa Hisada Art & Design Zarni Min Naing (Circle) Naing Zaw Linn DTP May Su Hlaing The Myanmar government will announce the winblocks this month, a senior Energy Ministry has said. “'We are nearly at 100 percent evaluation of the 2013 in February,”' Win Maw, the deputy director general of with the bid winners could take months before they are Translators Shein Thu Aung, Phyu Maung Advertising Seint Seint Aye, Moe Hsann Pann, Htet Wai Yan Advertising Hotline - 09 420 237 625, 09 4211 567 05, 09 31 450 345 Subscription & Circulation Aung Khin Sint - 09 20 435 59 Nilar Myint - 09 4210 855 11 Managing Director Prasert Lekavanichkajorn Email Editor-in-Chief - Editor-in-Charge - Advertising - Designer - Myanmar imports 90pc of medicine requirements Myanmar has to import 90 percent of the medicine required for its population of over 60 million, the Kumtor has shown interest in manufacturing medicines in the country. Marubeni Corp plans to build fertiliser factory in Myanmar cluding construction of a chemical fertiliser factory, local media reported. A team led by Tetsuro Terasaka, Yangon, reportedly met with Win Tun, union minister for Environmental Conservation and Forestry, and Investment and Company Administration, in Nay Pyi Taw recently. Phone Editor - 09 42 110 8150 Designer - 09 7310 5793 Publisher graded with aid from India and will produce 92 Ron (unleaded gasoline), a Myanma Petrochemical Enterprise source was quoted as saying in local media. My- U Myo Oo (04622) 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 yarkan – Thanlyin and Chauk. Myanmar to send workers to Taiwan permitting Myanmar workers to move to Taiwan’s manucials from the Federation of Myanmar Overseas Employment Agencies. If all goes well, workers from Myanmar will be sent to Taiwan after May, the report added. Myanmar to import minicars through border gates Myanmar will soon allow imports of minicars, which have less than 1,000cc engine power, through border gates, local media reported Commerce Minister Win Myint as saying in Tamu Town, on Indian Border, recently. GIZ to assist Myanmar banks The German Agency for International Cooperation (GIZ) will assist three Myanmar private banks in terms small and medium-sized enterprises. Under the government to government aid program, GIZ will provide Bank. The aid program will run from March 2014 to September 2015. India, Myanmar, Thailand road project at feasibility stage A feasibility report is being prepared for the proposed highway to connect India with neighbouring Myanmar and Thailand, an Indian minister said. “Presently, projects are at feasibility-report stage,” Minister of State for Road, Transport and Highways, Sarvey Sathyanarayana, told the Indian parliament, Indian media reported. “India agreed to undertake upgradation of the KalewaYagyi section of trilateral highway and construction of 71 bridges in the Tamu-Kalea section,” Sathyanarayana said. Myanmar Summary vQyfppf"mwftm;udk vHkavmufpmaxmufyHhay;Edkif&efEsL;uvD;,m; G pGrf;tifoHk;vQyfppf"mwftm;ay;vkyfief;rsm;udkaqmif&Guf&efjynf axmifpkvTwfawmfjynfolUa&;&maumfrwDutpdk;&odkYwdkufwGef; ajymMum;cJhaMumif; od&onf/ urf;vGefa&eHESifhobm0"mwfaiGUvkyfuGufopfaygif; 30 wGifpGrf; tift&if;tjrpf&mazGrrsm;udk jyKvyEi&eftwGuwif'gtEdkif&&Sdol S I k f kd f f rsm;udk,ckvtwGif; xkwfjyefaMunmrnf[k pGrf;tif0efBuD; XmerS od&NyD; wif'gpdppfrIrsm;udk 100 &mcdkifEIef;eD;yg; aqmif&GufNyD;jzpfNyD; azazmf0g&DvwGif wif'gatmifjrifonfvkyfief;rsm;tm; xkwfjyefaMu h nmay;oGm;rnfjzpfaMumif; od&onf/ jrefrmhvO;D a& oef;ajcmufq,ftwGuf vdktyfaom aq;0g;yrmP l 90&mcdkifEIef;tm;wifoGif;oGm;&rnfjzpfaMumif;od&onf/ jrefrmEdkif iHaq;0g;xkwfvkyfrIu@wGifjynfy&if;ESD;jr§KyfESHolrsm;updwf0if pm;rIr&Sdao;aMumif; od&onf/ *syefEdkifiHtBuD;qHk;ukefoG,fa&;vkyfief;BuD;rsm;xJrwpfckjzpfonfh S rm½lbDeDaumfydka&;&Sif;onf jrefrmEdkifiH ü "mwk"mwfajrMoZmpuf½kH wnfaqmufrItygt0ifvkyfief;rsm;udkwdk;csJUaqmif&GufoGm;&eft wGuf pDpOfxm;aMumif; od&onf/

LOCAL BIZ 3 Myanmar Business Today February 20-26, 2014 APR Energy Clinches Myanmar Power Contract recent installation of 130MW of new power generation in Indonesia, the Myanmar project is a tion we are seeing in the Asia Malaysia hub and Singapore bassador to Myanmar, said in a statement that doing business in an emerging market economy “does not come without its challenges, including the need to implement key economic reform policies, address infrastructure challenges, and make try’s economic potential.” APR Energy perience and commitment to principled and transparent approaches, will make a tangible An APR Energy project site in Peru. Sherpa Hossainy U S-based APR Energy has landed a contract to build a “fast-track” 100-megawatt power plant in upper Myanmar, becoming the a power generation agreement with the government since the lifting of sanctions in 2013. The facility will provide the Myanmar Electric Power Enterprise (MEPE) with a “guaran(MW) of power generation, with plant capacity to deliver up to 100MW,” APR Energy said in a statement. “The products we have are ideally suited to the needs of Myanmar’s power market. We plan to work with the ministry to provide solutions for further power needs within the country,” Clive Turton, APR Energy’s head of business deMyanmar Business Today in a phone interview. Based in Kyaukse in Mandalay region, the plant will be run by natural gas, supplied through the Chinese-built Shwe gas pipeline, which runs from Myanmar’s Rakhine state to China’s Yunan province. “The key deliverable of APR is ... to deliver gas power generators in a very short time. Myanmar is unique in that sense that it has indigenous gas that can be used for power generation,” Turton said. The company said the plant Myanmar Summary will be “one of the largest thermal plants in the country and will provide power to more than try where about 70 percent of the population has no access to electricity, according to the World Bank. The contract, which is on a rental basis, is due to start in the second quarter of 2014 and The power solutions provider said it won the contract due to its ability “to deliver to a very challenging timeframe, as well power generation technology.” “We are delighted to have won this contract, based on our ability to optimise the use of natural John Campion, APR Energy’s late 2015, Turton said, declining to mention how much investment APR will make to install the power plant. Turton said: “From APR’s point of view Myanmar is a key market. We are very keen to develop our businesses in the market and we will be looking forward to making a lot of investments in this country in this particular sector. “There’s a growing demand for more power in the country So, we are looking at more potential projects and we believe that our products are ideal to address the demand.” APR said its turnkey plant, featuring mobile gas power modules (GPMs), will be “one of the cleanest power generation solutions in Myanmar and vestment” in the infrastructure of the country. “APR Energy will provide a bridging solution for the medium term while the country develops its long-term power generation infrastructure,” the company said in a release. “This contract will create one of the biggest thermal plants in the country ... Together with our tar&dueftajcpdkuf APR Energy onf jrefrmEdkifiHtxufydkif;wGif 100 r*¾g0yfyrmP&Sd vQyfppf"mwftm;xkwf vkyEirnfh "mwftm;ay;puf½tm; wnf f kd f kH aqmuf&ef jrefrmtpdk;&ESifh vufrSwf a&;xdk;cJhonf[k od&onf/ 2013 ckEpwif jrefrmEdiitm; pD;yGm; S f G k f H a&;ydwqrrsm;udk z,f&m;rIrsm;&SvmcJNh y;D f Ykd I S d aemufyi;f pGr;f tifxwvyru@wGif kd k f k f I jrefrmtpdk;&ESifh yxrqHk; oabmwl vufrwa&;xd;k vmEdionfh tar&duef S f k f ukrÜPDwpfckjzpfvmaMumif; od&onf/ tqdyg"mwftm;ay;puf½wif tenf; k kH G qHk; 82 r*¾g0yfrS 100 r*¾g0yftxd "mwftm;xkwfvkyfoGm;Edkifrnf[k od& onf/ jrefrmEdkifiHpGrf;tifaps;uGuf vdktyfcsufrsm;twGuf rdrdwdkYwGif&Sdae aom xkwfukefrsm;rSm tqifajyoifh avsmfNyD; vQyfppfpGrf;tm;0efBuD;XmeESifh yl;aygif;í jrefrmEdiitwGi;f aemufxyf k f H pGrf;tifvdktyfcsufrsm;udk ajz&Sif;Edkif&ef BudK;yrf;oGm;rnf[k APR Energy rS tBu;D tuJwpfO;D jzpfol Clive Turton u Myanmar Business Today zke;f ESifhqufo,ar;jref;csuukd jyefvnf G f f ajzMum;cJhonf/ ,if;pDrHudef;onf rEÅav;wdkif;a'o BuD; ausmufqnfwGifwnf&Sdrnfjzpfum ,if;"mwftm;ay;puf½Hktm; obm0 "mwfaiGUudtoH;k jyKí vnfywfom;rnf k G [k od&onf/ tqdygpuf½twGuf vdtyf k kH k onfh obm0"mwfaiGUudk a&Tobm0 "mwfaiGUydkufvdkif;rSwpfqifh axmufyHh &,loGm;rnf[k od&onf/ a&T o bm0"mwf a iG U yd k u f v d k i f ; onf jrefrmEdkifiH &cdkifjynfe,frS w½kwfEdkifiH ,leefjynfe,fodkY oG,fqufay;xm; onfh obm0"mwfaiGUydkufvdkif;wpfck vnf ; jzpf o nf / jref r mEd k i f i H t aejzif h obm0"mwfaiGU&&SdrIwGif NydKifbufuif; EdiiwpfEiijH zpfNy;D ,if;obm0"mwfaiGU k f H kd f rsm;udk pGr;f tifxwvyrwif taumif; k f k f I G qHk;toHk;jyKEdkifaMumif; Turton u ajymMum;cJhonf/ ukrÜPDtaejzifh ,ckuJhodkY vkyfief; aqmif&Guf&eftwGuf oabmwlnDcsuf &&S d c Jh o nf h t wG uf vG e fpGm0rf; ajrmuf aMumif;ESifhobm0"mwfaiGUtm; taumif; qHk; tusKd;&SdpGmtoHk;jyKí pGrf;tifxkwf vkyfrIrsm;udk jyKvkyfoGm;rnfjzpfaMumif; vnf; od&onf/ Myanmar Uses Int’l Gold Standard for The First Time Feng Xin M nounced last week that use international measurement standards to issue gold bars, adding that the change will further open their country’s gold market to the outside world. Myanmar will start selling gold with 99.99 percent purity in the international unit, gram, instead of local unit "tical". Myanmar is awash in a variety of minerals but has kept itself relatively closed to the global gold market as it was using diffying standards as well as local measurement units. The coun- try also restricted how much gold foreigners could buy. “Only after people in Myanmar become familiar with and understand such a standard, can the gold produced in Myanmar be sold in the international market. After a period of promotion, more than 60 million Myanmar people will be able to use the standard, and then we can adapt and enter the international market,” said U Khin Maung Han of Myanmar Federation of Mining Association. ban on selected minerals such as gold won’t happen in just one day, though. A 1994 law reContd. P 24... Myanmar Summary jrefrmEdiitaejzifh yxrOD;qH;k tBurf k f H d tjzpf a&Tacsmif;rsm;udk tjynfjynfqi&m kd f pHcse;f pHne;f rsm;ESitnD xkwvyom;rnf d T hf f k f G jzpfaMumif;od&onf/ ,if;odjYk yKvy&jcif; k f rSm jrefrmha&Taps;uGutm; tjynfjynf f qdi&ma&Taps;uGuEihf &ifabmifwef;vm k f f S Edi&ef&nf&,aMumif;od&onf/ k f G f jrefrmEdiionf ,cifu 99.99 &m k f H cdiEe;f oefpifNy;D a&Gacsmif;rsm;uda&mif; k f I Y T k 0,f&mwGif a&G;yJpepfjzifa&mif;0,frjI yK h vkycaomfvnf; ,cktcsewif EdiiH f hJ d f G k f wumpHcsepne;f rsm;twdi;f d f H T k *&rfjzifh wdkif;wmcsdefwG,frIrsm;jyKvkyfoGm;rnf[k od&onf/ Contd. P 24...

4 Myanmar Business Today LOCAL BIZ February 20-26, 2014 Myanmar’s Border Trade Hits $4b in 10 Months Aye Myat M Myanmar Summary yanmar’s border trade hit $4.01 billion in Myanmar’s border trade is done through 14 points with four neighbouring countries – China, Thailand, Bangladesh and India. Myanmar’s largest border trade point with China, Muse, accounted for $3.12 billion during the same period, accounting for more than 77 percent of the total border trade volume. Lewjie, Chin Shwe Haw and Kanbiketee stand are the other trade points with China, while Tachileik, Myawady, Kawthaung, Myeik, Nabule, Htikhee and Mawtaung are with Thailand, Sittway and Maungtaw are with Bangladesh and Tamu and Reed border points are Files (April-January) in the current A Thai-Myanmar border checkpoint. with India. According to official statistics, as of September 2013, Myanmar’s foreign trade totalled $15.27 billion, of which and import accounted for 2013-2014 b@ma&;ESpf yxr 10vwmumvtwGif; jrefrmEdkifiH e,fpyfukefoG,fa&;rSm tar&duefa': vm 4. bDvD,Htxd a&muf&SdcJh 01 aMumif; w&m;0if t csuf t vuf r sm; t& od&onf/ jrefrmEdii e,fpyfueo,a&;tm; k f H k f G f tdrfeD;csif;EdkifiH 4 EdkifiHjzpfonfh w½kwf? xdkif;? b*Fvm;a'h&SfESifh tdEd´,EdkifiHrsm; ESifh e,fpyfukefoG,fa&;*dwf 14 ckrS ukefoG,frIjyKvkyfcJhjcif;jzpfonf/ w½kwf EdkifiHESifh e,fpyfukefoG,frIjyKvkyfcJhaom tBu;D qHk;ukeo,a&;*dwrm f G f f S rlq,f jzpfNy;D tqdygumvtwGi;f tar&duef k a':vm 3.12 bDvD,Htxd ukefoG,frI jyKEdkifcJhum pkpkaygif;ukefoG,frIyrmP 77 &mcdiEe;f ausmukd tqdyge,fpyf k f I f k ukeo,a&;*dw ukeo,rrsm;rS wpf f G f f f G f I qifh&&S dcJhjcif;jzpfonf/ w&m;0ifpm&if; tif;tcsuftvufrsm;t& jrefrmEdkifiH EdiijH cm;ukeo,ryrmPonf tar k f f G f I &duefa':vm 15.27 bDvD,Htxd&Sd onf/ Gas Pipeline Has No Environmental Htet Aung T here would be no environmental impacts of the natural gas pipelines in Myanmar, a high ranking en- jrefrmEdkifiHwGif obm0"mwfaiGUydkuf vdi;f rsm;aMumifh obm0ywf0ef;usiqi&m k f kd f oufa&mufrrsm; r&SEiaMumif; pGr;f tif I d kd f 0efBuD;XmerS tqifhjrifht&m&SdwpfOD;u Shwe Gas Aung Htoo made the remarks at the ongoing session of the parliament’s Lower House in Nay Pyi Taw recently in response to a question about public safety concern over possible leak of the natural gas pipelines laid in the country. “Supervisory control and data stalled to tackle the possible leak problem as quick as possible,” he told the parliament. With foreign investment, several natural gas pipelines has been laid and are being laid in Myanmar including MyanmarThai and Myanmar-China gas pipelines as well as domestic ones. Myanmar Summary ajymcJhonf/ obm0"mwfaiGUydkufvdkif;rsm;aMumifh jzpfvmEkdifonfh xdcdkufrIrsm;? "mwfaiGU ,dkpdrfhrIrsm;aMumifh trsm;jynfolrsm; vHkNcHKpdwfcs&rIESifhywfoufí pdk;&drfzG,f &mrsm;jzpfvmEdioavm[lonfh ar;cGe;f k f tm; pGrf;tif0efBuD;Xme 'kwd,0efBuD; OD;atmifx;l u vTwawmftpnf;ta0; f wGif txufygtwdi;f ajymMum;cJjh cif;jzpf k onf/ tu,fí "mwfaiG,dkpdrfhrIrsm;jzpfay: ygu tjrefqHk;umuG,faqmif&Guf&ef twGuf Supervisory control and data acquisition (SCADA) tm; wyfqif xm;NyD;jzpfaMumif; od&onf/ People protest against the Chinese gas pipeline in Myanmar.

LOCAL BIZ 5 Myanmar Business Today February 20-26, 2014 Building Trust: Redemption for China’s Wanbao Mining compensation. “With increased compensation, I think there’s a greater possibility that villagers will take it,” he said. The company and the - Soe Zeya Tun/Reuters the livelihood of villagers, Hla Tun said. “Before Wanbao’s donation, villagers had neither water nor electricity, but now the company and the government have helped fund power and water Myanmar pro-democracy Leader Aung San Suu Kyi comforts a woman at a village in Sarlingyi township. People whose land was seized to allow the expansion of the copper mine in northwestern Myanmar prompted protests that were crushed by police last year. Wang Xinyuan T hrough a combination of land compensation and corporate social responsibility activities, the operator of one of China’s largest investments in Myanmar hopes to recommence operations after a year’s delays and wrangling. at the Yangon branch of Wanbao Mining, the Chinese State-owned company that operates the Letpadaung copper mine, wrote in an e-mail to the Global Times that the subsidies ranging from K300,000 to 1.2 million ($300-$1,200) for an acre of land to farmers who make way for the project, based on the instructions of the Myanmar government. This is the company’s With joint investment from Wanbao’s partner the Myanmar militarybacked Union of Myanmar Economic Holdings Ltd (UMEHL), the project requires relocating 442 households from four villages with land compensation for residents of 26 villages. Wanbao Mining has previously assisted in relocating people to new villages, rebuilt a monastery and roads, funded a hospital and four kindergartens. Boasting international standards of environmental protection, 2,000 jobs to villagers. ers K550,000 ($550) in 2011 for an acre of land, and paid additional subsidies between K700,000 and 1.25 million for an acre in June 2013. About 40 percent of villagers refused compensation, the company said. “Even though the project has resumed, we have no way to proceed due to the land issue,” said Zhuang Yongquan, an engineer at Myanmar Wanbao Mining Copper, standing atop a red rock mountain and pointing across plains dotted with trees and farmland. With an annual capacity of 100,000 tonnes of cathode copper on a planned square kilometres), the mine is located in the Monywa copper mining area of northern Myanmar’s Sagaing region, about three hours’ drive west of Mandalay, the country’s second-largest city. U Hla Tun, minister who also chairs the implementation committee working for the government’s Letpadaung investigation commission, told the Global Times that the committee had raised and villagers really appreciate it,” he said. “I feel that the villagers will trust us more as time passes. We believe strengthened communication will make the situation better over a period of time.” Social responsibility The former Myanmar military junta approved the Letpadaung project in 2010, with a total investment of $1.07 billion. Myanmar then began making its transition from military rule to a quasi-civilian democracy led by President Thein March 2011. In November 2012 the project was halted by demonstrations of villagers supported by activists and some opposition parties, protesting inadequate compensation and potential environmental damage. Contd. P 12... Myanmar Summary ajr,mavsmaMu;rsm;ESifh vra&; f l I qdi&mvkyief;rsm; jyKvyay;jcif; k f f k f jzifh jrefrmEdiiwif w½kwEii k f H G f kd f H tBuD; rm;qHk; &if ; ESD ; jr§K yf E SH rI rsm; teufrS &if;ESD;jr§KyfESHrIolwpfOD; jzpfonfh 0rf a ygif u k r Ü PDonf vufyHawmif;awmifaMu;eDpDrH ude;f tm; jyefvnfaqmif&uEif G f kd &ef arQmfvifhxm;aMumif; od& onf/ 0rfaygifurP refae*smjzpf k Ü D ol Dong Yunfei u Global Times owif;pmodkY ay;ydkYaom tD;ar;vfwif 0rfaygifurPtae G kÜ D jzifh pDrue;f aMumifh ajr,mqHk;½HI; H d rnfh v,form;rsm;twGuf 1 {u vQif usyfaiG 3 odef;rS 12 odef; (tar&duefa':vm 300 rS tar&duefa':vm 1200) txd Contd. P 12...

LOCAL BIZ 6 February 20-26, 2014 Myanmar Business Today Aye Myat met Parliament and Lower House Speaker U Shwe Mann and opposition leader and Chairperson of National League for lion). The rest planned to offer life and general insurance, which requires total capital of K46 billion ($53 million). “We studied the market for a long time in preparation for the ASEAN Economic Community, which is due to begin in late 2015. And now the time is ripe to make the big move. Thanks to reforms and abundant natural resources, the country has become the darling of foreign investors. The country is also forging ahead with several large-scale projects,” said CEO and president Sara Lamsam. She said the company is well prepared to start a T hailand-based Muang Thai Life Assurance Plc besurer to win a permit to set up a representative boasts a large population and a booming economy. Myanmar authorities granted the company a permit last month, makinsurer to set foot in the country. more than 50 years, the state-owned Myanma Insurance and the Insurance Business Supervisory Board (IBSB) has given insurance companies conditional approval to start operating in the country. Twelve companies met the criteria set by the IBSB and Myanma Insurance. Before the military government nationalised many businesses in 1963, 70 local and foreign insurance companies had been operating in the country. Only the governmentowned Myanma Insurance Enterprise has since remained in business. Of the 12 approved companies, three plan to offer life insurance, which requires paid-up capital of K6 billion ($6.09 mil- Myanmar either through a joint venture with a loonce it is allowed. “We will prepare our infrastructure and build our brand in Myanmar and we will study other neighbouring countries, because we believe life insurance will prosper from the coming of the AEC.” Myanmar is accelerating several infrastructure airline and for the development of Myanmar’s aviation industry.” bassador to Myanmar, reportedly described the agreement as the “largest commercial sale” by a US company to Myanmar in Than Tun, Myanma Air“Our collaboration with a leading multinational US company like GE will economy of Myanmar.” onf vl O D ; a&wd k ; wuf v mNyD ; pD;yGm;a&;zGHUNzdK;vmaom jrefrm EdkifiHwGif udk,fpm;vS,f½Hk;cGJwnf axmifcGifh&&SdcJhonfh yxrOD;qHk; xdkif;tmrcHvkyfief;wpfckjzpfvm cJhonf/ jrefrmEdkifiHrS wm0ef&Sdolrsm;u tqdygukrPtm; ud,pm;vS,f k Ü D k f ½H k ; cG J w nf a xmif E d k i f & ef t wG u f cG i f h j yKcsuf c say;cJ h j cif ; jzpf N yD ; jrefrmEdiiwi;f 5 ckajrmuf EdiiH k f H G k f jcm;tmrcHvyief;wpfcvnf;jzpf k f k vmcJhonf/ ESpfaygif; 50 ausmf twGif;yxrOD;qHk;tBudrftjzpf EdkifiHydkif jrefrmhtmrcHESifh tmrcH vk y f i ef ; BuD ; Muyf a &;bk w f t zG J U (IBSB) rS tmrcHukrÜPDrsm; tm; jrefrmEdkifiHwGif vkyfief;rsm; aqmif&GufEdkif&e f cGifhjyKcsufrsm; ay;cJhjcif;yifjzpfonf/ ukrÜPD 12 ckonf IBSB ESifh jrefrmhtmrcHvkyfief;rS owf rSwfxm;onfhpHEIef;rsm;ESifhudkuf nDcJhaMumif; od&onf/ ppftpdk;& u pD;yGm;a&;vkyief;rsm;udk 1963 f ckESpfwGif EdkifiHydkifrjyKvkyfrDu jynfwGif;tmrcHukrÜPDESifh EdkifiH jcm;tmrcHurPrsm;onf jrefrm k Ü D EdkifiHwGif tmrcHvkyfief;rsm;udk aqmif&ucMhJ uaomfvnf; pD;yGm; G f a&;vkyief;rsm;tm; Ediiyijf yKvyf f k f H kd k cJho nfht csd e f r S p í tpd k ; &yd k i f jrefrmhtmrcHvkyfief;wpfckwnf; om usef&SdcJhaMumif;vnf; od& onf/ vkyfief;aqmif&Guf&eftwnf jyKay;cJhaom ukrÜPD 12 ckwGif ukrÜPD 3 ckrSm touftmrcH vkyief;tm; aqmif&u&ef pDpOf f G f xm;aMumif;od&onf/ decades. “It is an important moment for both our countries and I assume it will be ments among American businesses and Myanmar.” Mitchell has been a strong supporter of GE’s Myanmar market. In addition, GECAS’ AviaSolutions consulting business has signed a memorandum of understanding with the airline and will work with its senior management to develop a projects apart from the port and industrial estate. They include oil and natural gas pipelines linking Myanmar’s port of Kyaukphyu (Sittwe) in the Bay of Bengal with Kunming in China’s Yunnan province, the Thilawa Special Economic Zone, and the planned highway project linking the country with India and China. Besides Myanmar, Muang Thai Life is conducting a feasibility study to invest in other ASEAN countries such as Laos, Vietnam, Cambodia, Indonesia and the Philippines. Myanmar Summary xdkif;EdkifiHtajcpdkuf touf tmrcHvyief;jzpfonfh Muang k f Thai Life Insurance Plc Myanma Airways currently connects major local destinations in Myanmar using 12 aircraft. GECAS currently leases two Embraer E190 aircraft to MA. The airline last year, compared with 230,000 in 2010. MA currently operates the smaller Beechcraft and Cessna plans, as well debt during the socialist regime of the late General Ne Win from 1962 under the military junta Last year, Japan agreed to provide a bridge loan to Myanmar to cover outstanding debt to the World Bank and the totalling about $900 million. Norway cancelled all the $534 million owed to it, while Japan cancelled more than $3 billion, adding up to $6 billion, more than 60 percent of the total debt, the government said. Following his meeting with U Thein Sein, Gauck strategic growth plan for the airline with a focus on route and network development. over 1,620 owned and serviced aircraft with over 230 airlines. After years of isolation, Myanmar is seen as one of the last frontiers for aviation in Asia, with passenger numbers surging as new airlines spring up and foreign carriers rush in. However, there are concerns about the lack of infrastructure and the safety record. Myanma Airways grounded its three Chi- David Ryder/Reuters ATR turboprops. “We are pleased at GE to work with Myanma Airways to provide new, state-of-the-art Boeing aircraft,” said Norman CT Liu, president and CEO of GECAS. “This is an important milestone for the the Paris Club, and Gauck said Germany could go ahead with its part of the deal after meeting President Thein Sein. “A sustainable agreement has been reached allowing Germany to forgive half a billion euro of debt,” Gauck said in a speech at the University of Yangon. Myanmar’s government said it had met the Paris Club on Januasry 25, and member countries had agreed to cancel half of the arrears Myanmar owed them in two stages, rescheduling the rest over 15 years, with seven years’ grace. Myanmar accumulated A Boeing 737 jetliner is pictured during a tour of the Boeing 737 assembly plant in Renton, Washington. in 2012 after two of the turboprop aircraft suffered accidents on landing within a month. Japan’s biggest airline All Nippon Airways last year bought a 49 percent stake in Myanmar’s Asian Wings Airways. Aung San Suu Kyi. He also inaugurated the Goethe Institute on February 11 in Yangon. y,fzsua&;oabmwlncsutm; f D f jrefrmEdkifiHNrdKUawmf aejynf awmfwGif azazmf0g&Dv 10 &uf aeYwGif *smrPDor®w Joachim Gauck u vufrSwfa&;xdk; ay;cJjh cif;jzpfonf/26 ESptwGi;f f jrefrmEdiio* smrPDEiirtBuD; k f H Ykd kd f H S tuJwpfOD; yxrOD;qHk;tBudrf a&muf&Sdvmjcif;jzpfonf/ jrefrm Ediiu ay;acs&rnfh ,l½kd 1. k f H 084 bD v D ,H (tar&d u ef a ':vm 1.48 bDvD,H) wGif usef&Sdonfh ,l½dk 542 rDvD,H (tar&duef a':vm 741 rDvD,H) tm; twd;k EIe;f 3 &mcdiEe;f jzifh 15 ESpf k f I wmumvtwGi;f jyefvnfay;qyf &rnfjzpfaMumif; tqdygoabm k wlnDc suft& od&onf/ *smrPDEdkifiHrS a<u;NrD ,l½dk bDvD,H0uftm; y,fzsufay;&ef twGuoabmwlncsuukd aqmif f D f &GuEifcJhaMumif; Gauck u f kd &ef u k e f w uú o d k v f w G i f r d e f Y c G e f ; ajymMum;cJhonf/ jref r mtpd k ; & taejzifhZefe0g&Dv25&ufaeY wGif Paris Club ESifhawGUqHkcJhNyD; tzGJU0ifEdkifiHr sm;taejzif ha<u;NrD xuf0uftm;y,fzsufay;&eft wGufoabmwlnDrI&&SdcJhNyD;usef &Sdonfha<u;NrDyrmPtm;15ESpf twG i f ; jyef v nf a y;qyf & rnf jzpfaMumif; od&onf/ oef; 90 eD;yg;&SdaeaMumif; od& onf/ jrefrmhavaMumif;vdi;f taejzifh k GECAS ESifhyl;aygif;í av,mOf ajy;qGJysoef;rsm;rIuk d tqif hjriwif H § fh wdk;wufvmap&ef pDpOfom;rnf G jzpfNy;D a'owGif; t"duavaMumif; aps;uGursm;wGif av,mOfajy;qGJ f ysHoef;rIrsm;udk wdk;csJUaqmif&Guf oGm;rnfjzpfaMumif; jrefrmhav aMumif;vdkif;rS wm0ef&SdolwpfOD; u ajymMum;cJhonf/ 1993 ckESpfrSpí tjynfjynf qdi&mavaMumif;0efaqmifrrsm; k f I udk &yfqdkif;xm;cJh&aom jrefrmh avaMumif;taejzifh GECAS taxmuftyHhaumif;rsm;jzifh ,cktcg tjynfjynfqdkif&maps; uGuoYkd jyefvnfa&muf&Svmawmh f d rnfjzpfaMumif;tjynfjynfqdkif&m c&D;onfrsm;twGuf jrefrmhav aMumif; onf emrnfausmfMum; aomavaMumif;vdkif;wpfckjzpf vmEdkif&efarQmvifxm;onf[ydk Y f h k aqmifqufo,a&;0efBuD;OD;ÓPf G f xGe;f atmif u ajymMum;cJhonf/

LOCAL BIZ 7 Myanmar Business Today February 20-26, 2014 German Industry and Commerce Delegation Launches in Myanmar minister for the PresiZypries said she will “personally push for an investment protection deal between the European Union and Myanmar” in a bid to attract more foreign investors to the formerly-reclusive Southing the legal framework and forming strong unions are necessary for Myanmar’s economic development, she added. later issued a joint stateKyaw Min willingness to intensify dialogue and cooperation through further business forums and targeted platforms for business to gon. Kyaw Min T German Industry and Commerce has launched its operation in Myanmar in a bid to boost business and bilateral ties between the two countries. funded by the Association of German Chambers of Commerce and Industry Ministry of Economic ment. The German Federal President Joachim Gauck on February 11 inaugugether with Win Aung, president of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI), and Ludwig Georg Braun, honorary president of “Myanmar is in a process of catching up,” said Braun. “In order to stand its ground in regional competition broad activiconcepts for productive value chains will be key. neurial infrastructure is essential in this respect. German companies can make a very valuable contribution here.” He said Germany is the most important supplying country from within the European Union, but while there is room for development in bilateral trade and investment activities, he sees “huge potential for bilateral business relations” and encouraged taking a longterm perspective. “German products and technologies traditionally enjoy high esteem in Myanmar. And I can see that our approach based on partnership and patience is much appreciated as well,” Braun said. He said further development of the Myanmar private sector would be another “worthwhile topic” for bilateral dialogue. “The whole of Asia enductive SME structures. Their success relies on the close cooperation with the big multinational corporations and a consequent focus on competition based free enterprise system. In Myanmar as well this concept might be a good basis for sustainable development.” Monika Staerk, who has been following developments in Myanmar and supported German business activities since 2003, will head the German Chamber operation Industry and Commerce. The launching took place during a bilateral a business forum with more than 150 German business representatives attending in the UMFCCI headquarters. “German businesses want to support and participate in economic growth potentials, based on Myanmar’s geostrategic position and its wealth in natural resources. For these potentials to deploy, infrastructure and energy supply will need to be developed further with German business being in a good position to make sustainable contrisaid in a statement. The forum was also attended by Brigitte Zypries, state secretary, Federal Ministry for Ecoand U Soe Thein, union The statement said that both sides will continue to “jointly work on promoting and further developing the spirit of partnership and trust, aiming at Both sides were aware that promoting foreign direct investment will be a key for economic development and social stability in Myanmar, the statement said, adding that development of infrastructure and power supply will be a prerequisite for this. Myanmar Summary *sm rPD p uf r I v uf r I E S i f h uk e f oG,fa&;udk,fpm;vS,ftzGJUonf jrefrmEdkifiHwGif &if;ESD;jr§KyfESHrIr sm; jyKvyf &efESifhESpfEdkifiHtMum;pD; k yG m ;a&;ESif h qufqHa&;wdk;wuf vmap&eftwGufBudK;pm;aeonf [k od&onf/ ESpfEdkifiH yl;aygif;wnfaxmif rnftqdygtoif;½H;k cef;tm; *smr h k PDueo,a&;ESipufrvufrt k f G f fh I I oif;BuD;ESif h *smrefpD;yGm;a&;&m ESifhpr;f tif0efBu;D XmewdYkrS yl;aygif; G axmufyrnfjzpfaMumif; tqdyg hH k udk,fpm;vS,ftoif;rSajymMum; cJhonf/ udk,fpm;vS,ftoif;ESifh twl *smrPDor®w Joachim Gauck onf azazmf0g&Dv 11 &ufaeYwGif jynfaxmifpkor®w jrefrmEdiiueonfrsm;ESihf pufrI k f H k f vufrIvkyfief;&Sifrsm;toif;csKyf Ouú|jzpfol OD;0if;atmif ? DIHK Ouú| Ludwig Georg Braun wdkYESifh awGUqHkcJh aMumif; od&onf/ jrefrmEdkifiHtaejzifh zGHUNzdK;wdk; wufrvrf;aMumif;ay:odYk a&muf&dS I aecseü a'owGi;f ,SONf yKd irwif df f I G tcditrm&yfwnfEi&ef t&nf k f kd f taoG;ydi;f qdi&mrsm; ydrwk;d wuf k k f k kd &ef vdktyfNyD; ukefacsmtqifh jr§ifhwifrIaqmif&GufEdkifrItcsuf rsm;onf t"duvdktyfcsufjzpf vmrnfjzpfonf/ pGefYOD;wDxGifrI vkyfief;qdkif&mtajccHtaqmuf ttHkrsm; zGHUNzdK;wdk;wuf&ef trSef wu,fvtyfaeNyD; *smrefurPD kd k Ü rsm;taejzif h jref r mEdkif iH w G i f taumif;qHk;taxmuftyhHay; Edkifvdrfhrnf[kvnf; DIHK Ouú|u ajymMum;cJhonf/ tD;,lEdkifiHrsm;wGif*smrPDEdkifiH onf jrefrmEdiitwGutaxmuf k f H f tyHhay;aeonfh ta&;tygqHk; Ediiwpfcjk zpfNy;D ESpEiiueo,f k f H f kd f H k f G rIzUHG NzKd ;wd;k wufa&;ESifh &if;ES;D jrK§ yEHS f rIaqmif&Gufcsufrsm;wGif tcGifh tvrf ; aumif ; rsm ;&Sd a eojzif h a&&SnftusdK;jzpfxGef;rIudk a&S;½I íaqmif&uom;&rnfjzpfaMumif; G f G

LOCAL BIZ 8 Myanmar Business Today February 20-26, 2014 India Needs to Pay Close Attention to Myanmar Trade Rupak De Chowdhuri/Reuters ed to connect it to Aizwal, the capital. It is imperative that no time is lost in calling for tenders to build this. No purpose will be really achieved if there is no road communication, of international standard, to transport the goods either way. Many of the Myanmar highways have been built by the Chinese. Myanmar, Bangladesh and Sri Lanka are important and close friends for India, who have to be handled with care. There can be great trade among all the three. As India now discusses the issues with Myanmar, which has bridge at the border town of Moreh, in the northeastern Indian state of Manipur. AK Ramdas M yanmar and India are neighbours, and have a 1,640 kilometre long border with Myanmar along with India’s eastern states, with Mizoram being the closest to them. As against this, Pakistan der. India’s relations with Myanmar have had their ups and downs and presently, the atmosphere is improving, thankfully, for the better. China, on the other hand, is fully entrenched in Myanmar, and has booming trade relations with them. India need to make its presence felt in as many areas as possible, and its current trade with Myanmar be increased. In the recent times, not long Myanmar closed its land border at International Gate Nos I & II with India and there was an organised rally where local people claimed that India was not honouring its international boundary. As usual, it had to be handled with care by the Union Home Minister. India’s trade and related project developments in Myanmar have been slow but this could have been increased manifold, if only the Indian government had regularly sponsored trade delegations and had held India international trade fairs in that country. Indians would rather take a holiday to other parts in the near east, but shudder to think of Yangon to visit. Trade development can take place when India has regular ships sailing between the two countries. At present, only when there are ship loads available, gon. Myanmar has three ports TEUs (twenty feet equivalent units) annually. But India doesn’t have a regular container vessel to carry its cargo. pears now, that the Shipping Corporation of India (SCI), a government undertaking, has volunteered to make available a vessel that can carry 1500 TEUs provided the Union government can give them a subsidy nually! If there are regular sailings, there is no doubt that this can increase to 36,000 TEUs over a period of time. Shipping Corp’s container vessel, if made available, under this condition, can cover Chennai, Yangoon and Colombo; and if there is adequate cargo, they can berth at Krishnapatnam also. The point at stake is, should the government accede to their demand and give them an annual subsidy of Rs30 crore? SCI has made this demand, as they are already a loss making concern, and if regular cargo was not available to the above ports, their loss will only mount. India’s stake in Myanmar is too important and large; the government must not dilly-dally willingness to subsidise the sailings to Yangon and back. In fact, they could include other ports such as Sittwe also, which has no objection. Right now, Essar Projects Ltd, a construction contractor from cum-inland waterway” and is building the Sittwe port and a jetty at Paletwa, besides being of the river Kaladan, between these two points, to make it more navigable than it is today. Essar hopes to complete this project by June this year, and sels. What’s important to note is that from the jetty at Paletwa, Mizoram border is only 109.2kms away, though another 250km highway would be need- it must move seriously in public relations campaigns in all the three countries; and promote trade by conducting fairs that can display products and services. India must remember that China is breathing down its neck in Myanmar, all because it has so far neglected to take serious interest in this country. AK Ramdas has worked with the Engineering Export Promotion Council of India’s Ministry of Commerce. He was also associated with various committees of the Council. His international career took him to places like Beirut, Kuwait and Dubai at a time when these were small trading outposts; and later to the US. Myanmar Summary jrefrmEdiiEifh tE,Ediiwonf tdre;D k f H S d ´d k f H Ykd f csi;f Ediirsm;jzpfNy;D tdE, ta&S Uydi;f k f H ´d k jynfe,frsm;ESihf e,ferwcsi;f xdpyfrrm d d f I S 1640 uDvdkrDwmtxd &Snfvsm;onf/ jrefrmEdkifiHESifh tdEd´,EdkifiHwdkY qufqH a&;rSm twuftus&ScJNh y;D ,cktcsewif d df G quf q H a &;ydkrdkaumif ; rGef vmcJ h o nf / tjcm;wpfzufwGif w½kwfEdkifiHtaejzifh jrefrmEdiiwif &if;ES;D jrK§ yErEif h ukeo,f k f H G f HS I S f G rI tjynft0tcditrm&SaeNyD; ukeo,f h k f d f G rIrSmvnf; ydkrdkwdk;wufvmcJhonf/ tdE,Ediitaejzifvnf; jrefrmEdiiH ´d k f H h k f wGif &yfwnfrItm; ydkrdkcdkifrmvmap&ef BudK;yrf;aqmif&uom;rnfh tvm;tvm G f G &Saeonf/ ,ckvuf&Sd jrefrmEdiiEifh ukef d k f H S oG,frIrSm tar&duefa':vm 1. 87 bDvD,Htxd&SdaeNyD; rMumrDtcsefwGif d xyfrHwkd;wufvmEdkifz,f&SdaMumif; od& G onf/ jrefrmEdiiwif tdE,Edii ukeo,rI kfH G ´d k f H f G f ESifh &if;ESD;jr§KyfESHrIzGHUNzdK;wdk;wufrIrsm;rSm aES;auG;aeaomfvnf; tdE,tpd;k &tae ´d jzifh ukeo,ru,pm;vS,tzGUJ rsm;ESihf f G f I kd f f tjynfjynfqdkif&m ukefoG,frItpDtpOf rsm;tm; jyKvycrnfqvQif wd;k wufvm k f hJ kd Edkifonfhtvm;tvmrsm;&Sdaeonf/ tdEd´,taejzifh ESpfEdkifiHtMum; a& aMumif;qufoG,frIr sm;yHkrSef&Sdvmygu ukefoG,frIzGHUNzdK;wdk;wufvmEdkifonf/ ,ckvuf&tcsewif a&aMumif;ukeo,f dS d f G f G rIu@ü ukefpnfrsm;jynfhrDrSom ydkYukef wifyowpfO;D taejzif h &efueokYd ukepnf Ykd l kf f wifydkYEdkifaMumif; od&onf/ jrefrmEdkifiHwGif qdyfurf;oHk;ck&SdaeNyD; tdE,taejzifh ukepnfrsm;tm; o,f,l ´d f &ef yHkrSefajy;qGJEdkifonfh uGefwdefem oabFmBu;D rsm;r&Sao;aMumif;vnf; od& d onf/ ,cktcg Shipping Corporation of India (SCI) u uketav;csef 1500 f d TEUs txd o,faqmifEirnfh oabFm kd f wpfpif;ukd pDpOfcJhNyD; yHkrSefa&aMumif; ajy;qGJrIr sm;&SdvmcJhygu ukeful;oef; a&mif;0,fEdkifrIydkrdkwdk;wufvmrnfrSm aocsmaeNyDjzpfonf/ Myanmar: Transactions After The Log Export Ban Htet Aung M ban is set to begin immediately as the 2014- will be midnight on the March 31. It is understood that at this time all loading of logs bound Myanmar Timber Enterprise (MTE) issued a statement on cedures recently. ment for log shipments must be of vessels must be concluded before March 31, the statement said. Buyers having outstanding balances on purchase contracts may conclude purchases at contracted FOB prices provided the logs are processed inside the country. In this case payments are to be made in full before June 30. From July 1, all remaining unisting contracts will become the property of the MTE and sold by open tender, MTE said. The Enterprise said after March 31 industrial raw logs will be sold by open tender to sawmills and factories operating under Myanmar Investment Contd. P 24... Myanmar Summary 2014-2015 b@ma&;ESprpwifNy;D f S jynfyodYk opftvH;k vduwifyrrsm;udk k f Ykd I &yfqi;f oGm;rnf[k jrefrmhopfvyief;rS kd k f xkwjf yefaMunmcJonf/ h opftvH;k vduf wifyrrsm;tm; &yfqi;f k Ykd I kd rI rjyKvycif opftvH;k tvduwifyrI k f k f Ykd rsm;twGuf aiGay;acsrrsm;udk azazmf0g&D I v 28 &ufaeYwiaemufq;kH jyKvyom; G f k f G &rnfjzpfNy;D rwfv 31 &ufaeYrwdirD k f opfv;kH rsm;udk tNy;D owf wif&rnfjzpf aMumif;vnf;od&onf/ Zlviv 1 &ufaeYrwdicif tNy;D owf kd f k f raqmif&uEiygu rwify&ao;aom G f kd f Ykd Contd. P 24...

LOCAL BIZ 9 Myanmar Business Today February 20-26, 2014 Myanmar Smugglers Get Rich on Yingluck’s £13 Billion Rice Subsidies A populist subsidy on rice by Thailand’s ruling party is enabling smugglers from neighbouring Myanmar to make a quick buck at the expense of Thai taxpayers David Eimer Myanmar Summary F or the rice smugglers of Myawaddy, business has never been better. A scrappy, dusty Burmese border town, Myawaddy has long been notorious as an illicit trading hub for drugs, guns and precious gems. Now, Myawaddy has become a more nutritious but scarcely smugglers take advantage of the substantially higher grain Nir Elias/Reuters Thailand. In Myawaddy, 50 kilos of rice sells for £16. But in Thailand, the same amount is worth £30, a consequence of the ruling Pheu Thai Party’s controversial subsidies to the rice farmers who make up much of its support base. Known as the “rice-pledging scheme”, the populist policy has cost the government more than £13 billion, prompting the IMF to warn that the scheme is undermining the economy. But the rice subsidies are also a huge source of anger among the largely middle-class anti-government protesters who have taken to the streets of Bangkok to try and topple Prime Minister Yingluck Shinawatra and her Pheu Thai party from power. They allege that not only has dered to buy votes for Pheu Thai, but that millions has disappeared into the pockets of the ing the scheme. Last month, Thailand’s National Anti-Corruption Commission (NACC) announced a probe into the rice-pledging policy, only adding to the pressure Yingluck is under. The prime minister was forced to call a snap election that took place on February 2 Workers at the Udon Permsin rice mill pile up sacks full of rice to for storage in the northeast province of Udon Thani, Thailand. – which was boycotted and labelled as illegitimate by the opposition – in a failed attempt to end the political crisis gripping Thailand. Results are yet to be announced. Yingluck’s role as head of the national rice committee means she could face criminal charges arising from the NACC’s investigation. The commission is ready to charge 15 other people, including a former commerce minister, with corruption linked to the rice programme, spokesman Vicha Mahakun told a news conference. This month, China ditched a huge rice deal to buy 1.2 million tonnes of rice from Thailand, tainty over its agricultural sector. While the subsidies have played a major part in causing the policy has resulted in huge gains. Boats loaded with what the smugglers coyly describe as “chicken feed” travel daily across the narrow stretch of the Moei River that separates Myawaddy in Burma from the neighbouring Thai town of Mae Sot. On the outskirts of Myawaddy, The Telegraph watched as lorries pulled into a compound close to the river bank guarded by Burmese soldiers. Sacks of rice were swiftly unloaded and transferred to waiting boats. “We started sending ‘chicken feed’ to Thailand in big quantities a couple of years ago,” said diers. “It’s transported mostly at night. Generally, we’ll send 100 sacks at a time. “Each sack is 50 kilos.” Some enterprising individuals sling sacks of rice on their backs and simply wade across the Moei River. It is the equivalent of smuggling tea into China, or opium to Afghanistan, because until 2012 Thailand was the world’s That began to change following the government’s decision in October 2011 to pay almost double the market price for rice to farmers. The policy was conceived as a reward for the rural voters who make up much of the ruling party’s power base. But it was also a highly ambitious attempt to corner the global market in rice, with the government gambling on stockpiling vast amounts of grain it The scheme, though, has infashion. A worldwide slump in rice prices means that the government has spent almost £13.5 billion buying rice it is unable tons – of unsold grain, nearly as much as the country produces in a year. Meanwhile India and Vietnam have now overtaken Thailand as the world’s leading rice Contd. P 10... jr0wDNrKd Uonf rl;,pfaq;0g;? vufeuf ypönf;rsm;ESifh tzd;k wefausmufrsu&wem f rsm;udk w&m;r0ifueu;l oef;a&mif;0,frI k f wGif emrnfausmfMum;aom e,fpyfNrdKU wpfNrKd UjzpfNy;D ,cktcg arSmifcueu;l rI kd k f rsm ; tcsuf tcsm ae&mwpf cktjzpf wnf&Sdaeonf/ tdre;D csi;f EdiijH zpfaom xdi;f Ediiwif f k f k k f H G qefpyg;rsm;udk xdkif;tpdk;&u aps;EIef; jrifrm;pGmay;í0,f,onfprcsuaMumifh h l h D H f qefpyg;arSmifcdkwifoGif;olrsm;taejzifh ,if;tcsuftay: tjrwfxkwfrIrsm;&Sd vmcJhaMumif; od&onf/ jr0wDwGif qef 50 uDvdktm; tar&duefa':vm 16 a':vmjzifh a&mif;0,frIjyKvkyfaeaomfvnf; xdkif; EdkifiHwGif tar&duefa':vm 30 txd &Sdaeonf/ xdkodkY aps;EIef;ydkrdkjrifhrm;ae jcif;rSm xdkif;tpdk;& v,form;rsm;udk qefpyg;pduysK;d a&;ydrw;kd wufvmap&ef k f k kd axmufyHhrIrsm;ay;tyfaejcif; tusKd; qufyifjzpfonf/xdr0g'onf xdi;f tpdk;& kl k tm; ukefusp&dwf tar&duefa':vm 13 bDvD,Hausmf ukefapcJhNyD; tjynf jynfqi&maiGaMu;&efyaiGtzGUJ u ,if; kd f kH pDrHcsufonf xdkif;EdkifiH pD;yGm;a&;udk txdemapvdrrnf[k owday;ajymMum; hf cJhonf/ xdkif;tpdk;&u v,form;rsm;udk qef pyg;rsm;a&mif;csrItwGuf aiGay;acs&ef aemufusaerIaMumifh vlvwfwef;pm; rsm;ESifh tpdk;&qefYusifqE´jyolr sm;rSm a'goxG u f c J h M uNyD ; xd k i f ; 0ef B uD ; csKyf ,ifvwf&iem0yftm; &mxl;rS Ekwxuf S f f G ay;&efEifh vuf&StmPm&ygwDtm; jzKwcs S d f &ef befaumufNrKd UwGif qE´jyrIrsm;tBu;D tus,f jyKvkyf vmcJ hMuonf/ qef pyg; 0,f,lrIpDrHcsufudk toHk;csí EdkifiHa&; orm;rsm;ESihf wm0ef&orsm;onf aiGaMu; dS l yrmPtajrmuftjrm;udk &&Sd&ef aqmif &GufcJhMuonf[k pGyfpGJcJhMuonf/ vGefcJh onfhvwGif xdkif;EdkifiH trsKd;om; tusizsujf cpm;rIwuzsua&;aumfr&Sif hf kd f f l I tzGJUu (NACC) qef0,f,ray:vpDudk Contd. 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LOCAL BIZ 10 Myanmar Business Today February 20-26, 2014 Bangladeshi PM to Attend BIMSTEC Summit in Myanmar B angladeshi Prime Minis- to Myanmar on March 1 to attend the third Bay of Bengal Initiative for Multi-sectoral Technical and Economic Cooperation (BIMSTEC) Summit to be hosted by Myanmar, sources The seven-nation economic forum groups Bangladesh, Myanmar, India, Thailand, Nepal, Bhutan and Afghanistan and the summit is slated for March 1-4 in Nay Pyi Taw. The sources said Sheikh Hasina will hold a meeting with Indian Prime Minister Manmohan Singh on the sidelines of the summit. The group earlier decided that of the economic forum. Hasina to a foreign country after she became Prime Minister for the third time after winning the parliamentary election on January 5 this year. The First and Second BIMSTEC Summits were held in Thailand in 2004 and India in And with prices for rice far higher than in neighbouring countries, up to 750,000 tons of rice is being smuggled into Thailand annually, where it grain so that it can be sold to price. “The government is running ble from the scheme,” said velopment Research Institute who has made a study of the subsidy policy. STEC Chair in 2009. Xinhua Myanmar Summary vmrnfh rwfv 1 &ufaeYwGif jrefrm Ediiu vufcusi;f yrnfh wwd,tBurf k f H H d ajrmuf Bay of Bengal Initiative for Multi-sectoral Technicaland Economic Cooperation (BIMSTEC) tpnf;ta0;odYk b*Fvm;a'h&Eii0efBu;D fS kd f H csKyf Sheikh Hasina wufa&mufrnf [k od&onf/ b*Fvm;a'h&Sf? jrefrm? tdEd´,? xdkif;? eDayg? blwefEifh tmz*efepöwefwYkd yg0if S onfh EdkifiHaygif; 7 EdkifiHrS udk,fpm; vS,frsm; wufa&mufrnfjzpfNyD; tqdkyg awGUqHkaqG;aEG;yGJtm; aejynfawmfwGif rwfv 1 &ufaeYrS 4 &ufaeYtxd jyKvyf k usif;yoGm;rnf[k od&onf/ Sheikh Hasina onf tdEd´,0efBuD; csKyf refrdk[efqif;ESifh awGUqHkaqG;aEG; rIjyKvkyfoGm;zG,f&SdaMumif;vnf; od& onf/,ckc&D;pOfonf Hasina twGuf ,ckESpfZefe0g&D 5 &ufaeYwGif ygvDref a&G;aumufyü tEdi&&SchJNy;D aemuf yxr JG k f d OD;qHk;jynfyc&D;pOfwpfcvnf; jzpfonf/ k “Rice isn’t like wine; you can’t keep it forever. The longer the government stockpiles it, the more it will depreciate in value.” With the average salary in Myawaddy just £2.50 a day, there is plenty of incentive for people to smuggle rice: a 42-year-old smuggler, who gave his name as “Brother Tone” said he could earn up to £60 a day, almost 25 times as much. Nor do the smugglers have to worry about getting caught. “As long as you have permission from the army and pay the right people, it’s no problem. No one goes to prison for this in Burma,” said Tone. 2C2P Launches POS Service with Visa and MasterCard Su Su 2 C2P, a Singapore-based payment solutions provider, launched a complete point of sale (POS) service in Myanmar in partnership with local bank Myanmar Citizens Bank (MCB). The service enables merchants in Myanmar to accept major in- is a near impossible task for the Thai authorities. “We have miles of the border,” said Supachai Sasomboon, deputy director of the Mae Sot customs post. “So it’s very hard to police the border.” Thailand’s economy is now under mounting pressure from grain and the spiralling costs of the rice-pledging scheme itself. The credit agency Moody’s has already warned that it could lead to Thailand’s rating being downgraded. Worse still for Yingluck, the ternational payment cards from both Visa and MasterCard. The POS system will also come with online real time reports, slips with merchant logos, and pre-authorisation for call centre sales, the company said. Such services are still new in troduced a POS service to the country in March of last year by partnering with local banks. policy has come to symbolise what the anti-government protesters regard as Pheu Thai’s abuse of power. “People see rice-smuggling taersm;aMumifh xdkif;EdkifiHrS qefruf x&pfwefcsdef 1. rDvD,Htm; 0,f,l 2 &ef oabmwlnDcsufudk y,fzsufcJhaom aMumifh xdkif;EdkifiHtwGuf aemufxyf pdk;&drfp&mtajctaewpf&yfukd xyfrH BuHKawGUcJh&onf/ xdkif;tpdk;&u aqmif&GufcJhaom qef pyg;0,f,lrIay:vpDaMumifh qefpyg; arSmifcdkwifoGif;olrsm;twGuf tusKd; tjrwfrsm;pGm&&SapcJaMumif; od&onf/ d h jr0wDrS qefpyg;rsm;tm; avSoabFm rsm;jzifh xdkif;EdkifiHodkY arSmifcdkwif;oGif;rI rsm;&SdcJhNyD; xdkif;tpdk;& qefpyg;0,f,l rIpDrHcsufaMumifh ,ckuJhodkY arSmifcdkwif oGif;rIrsm;jzpfay:vmcJhNyD; xdkif;tajc taeqd;k wpf&yf BuKH awGUvmcJ&onf/ h The Telegraph pHprf;ppfaq;&ef xkwjf yefaMunmcJ jh cif; k u 0efBuD;csKyf,ifvwf&Sifem0yftwGuf aemufxyfztm;jzpfvmapcJonf/ ,ckv d h wGif w½kwfEdkifiHu xdkif;EdkifiHpdkufysKd; a&;u@rS raocsmra&&monfhtajc service in Myanmar at around the same time. The company’s move was hinted at when the founder and group CEO shared with Tech in Asia that the company had raised $2 million in Series B

LOCAL BIZ 11 Myanmar Business Today February 20-26, 2014 British Professor with The Same Name As A Myanmar Heroin Kingpin: Banks Keep Getting Confused Jamila Trindle T he US sanctions blacklist is meant to stop terrorists, drug lords, and weapons traders from getting access to their money. Unfortunately, it also ensnares a lot of people who just happen to have the same name as one of those alleged criminals. Professor Stephen Law, who shares the name of a prominent Burmese heroin dealer, has discovered He’s also the author of books like “Believing Bullshit: How Not to Get Sucked Into an Intellectual Black Hole.” The Burmese one is a wealthy drug kingpin who was sanctioned by the Treasury in 2010 because of his ties to the country’s ruling junta. Treasury Asia World, received lucrative government construction contracts because of his close ties to the regime. The second Law uses several aliases and is believed to split his time between Myanmar and Singapore. The two Laws have little in and the fact that it appears on tions list has hit each of them hard. The British Law said that bank transfers from Europe take weeks to get to him and that packages from abroad often fail to arrive. When an American friend sent him a drum, it was held up at customs complaining about his problems accessing his own money or receiving gifts from abroad, but the department has yet to respond or take steps to ensure he isn’t confused with the Burmese Law. The British Law’s troubles are the inadvertent byproducts of the US government’s ongokingpins, war criminals, and nuclear weapons proliferators cial system. Washington uses targeted sanctions to single out individuals and companies and make it illegal for US banks and companies to interact with them. While broad trade embargoes against countries like Cuba haven’t worked, freezing the assets of individuals has proven a successful tool for pressuring them into doing what the US government wants, whether that’s ending support for terrorists or giving up ties to Photo Illustration by FP The British Stephen Law is a soft-spoken professor at the University of London where he has taught philosophy for 17 years and plays the drums in a and then sent back to the United States. When he asked his bank why a travel reimbursement from Austria was held up, they wouldn’t tell him. “I’ve been having these problems for years but I never understood what it was or why it was happening to me,” Law said. Law, who describes himself as a “fairly well-known atheist ligious views might have somehow landed him in hot water. But then someone on Twitter partment list, which includes the name Stephen Law. Law recently wrote a letter ment adds a new name to the list, it issues a press release that includes their reason for the new designation. Banks and companies are responsible for making sure they don’t do business with the sanctioned perment raked in $137 million for sanctions violations in 2013 – cautious about handling transactions for people whose names are at all similar to those on the list. Most major banks check transactions against rosters maintained by outside companies like Thomson Reuters. If a name is too similar to those on the sanctions list, the transactions will be held up while banks methodically check the person’s address and birthdate to make sure they’re not aiding an alleged wrongdoer. comment on Law’s case, but a spokeswoman said they “always endeavour to make public all mation – including addresses, dates of birth, places of birth, and passport numbers, among other information.” Law, for his part, has taken to the Internet “This has proved frustrating, time-consuming and also costly to me personally,” Law wrote in a blog post. It’s incredibly subtle title: “How the US Treasury imposes sanctions on me and every other ‘Stephen Law’ on the planet.” FP Myanmar Summary tar&duefu pD;yGm;a&;ydwqYkrjI yKvyf f d k xm;aom emrnfysufpm&if; &nf&G,f csurm tMurf;zuforsm;? rl;,pfaq;0g; f S l acgif;aqmifrsm;ESifh vufeufukefoG,f rIrsm;udk &yfwefY&eftwGufyifjzpfonf/ odaomf uHq;kd pGmjzifyif ,if;uJokdY emrnf Yk h h ysuf p m&if ; wG i f yg0if a omol r sm;ES i f h emrnfwlaeolrsm;taejzifh tcuftcJ rsm;pGm BuHKawGUae&onf/ ya&mfzufqm Stephen Law taejzifh jrefrmEdkifiHrS bdef;bk&ifESifh emrnfwlaeonfhtwGuf BuHKawGUae&onf[k qdkonf/ NAwoQEiiom; Stephen Law onf d d kd f H vef'efwuúodkvfwGif 'óeduaA'udk 17 ESpfwdkif oifMum;ay;cJhonfh ya&mf zufqmwpfOD;jzpfovdk The Heavy Dexters [kac:aomwD;0di;wGivnf; k f f Believing Bullshit: How Not to Get Sucked Into an Intellectual Black Hole uJhodkY pmtkyfrsm;udkvnf; a&;om;cJholjzpfonf/ jrefrmEdiirS rl;,pfacgif;aqmifo<l u,f k f H jzpfonfh Stephen Law tm; 2008 ckEpwif tar&duef b@ma&;0efBu;D S f G XmerS emrnfysufpm&if;wGif xnfhoGif; cJNh y;D 2010 ckEpwivnf; ppftpd;k &ESifh S f G f ywfoufqufE,conftwGuf aemuf G f hJ h xyfydwfqdkYrIudk jyKvkyfcJhonf/ Stephen Law t*FvefEdkifiHom; taejzifh rl;,pfaq;0g;acgif; aqmif Stephen Law ESifh emrnfwl aeonfhtwGuf tar&duef b@m a&;0efBu;D XmerS ydwqrrsm;udk BuKH awGU f Ykd I ae&aMumif; od&onf/

LOCAL BIZ 12 Myanmar Business Today February 20-26, 2014 SilkAir to Fly Singapore-Mandalay Route Htet Aung S ilkAir, the regional wing of Singapore Airlines, announced that it will launch its services in Yangon-Mandalay route in a bid to increase its network of 47 destinations in Subject to applicable ap- Mandalay and Yangon, Myanmar, from June 10, the company said. It will also launch three pines through circular-routing Kalibo and Mandalay to our they will be well-received,” said Thng. “As the regional wing of Singapore Airlines, SilkAir plays Airlines Group network by seeding and developing emerging destinations,” he said. The two new services will be connected via Singapore to more than 90 cities in the joint Singapore Airlines-SilkAir network. The second largest city in Myanmar, Mandalay is the centre of culture and religion in the country. The city is home to the Royal Palace as well as many other attractions built during long considered one of the world’s greatest archaeological sites, is also accessible through Mandalay. Kalibo is the capital of Aklan province and gateway to the idyllic Boracay island in the Philippines. The island is known for its white sandy beaches and crystal clear waters. The two new services will be introduced during the airline’s Northern Summer operating season, between March 30 and Oct 25. SilkAir is also making network adjustments during WMC Mandalay will be the airline’s second destination in Myanmar after Yangon, while Kalibo will be SilkAir’s third destination in the Philippines after Cebu and The services will be operated with Airbus A319 and A320 aircraft, featuring both Business and Economy Class cabins, SilkAir said. this season, comprising capacity increases on several routes and reductions on others, it said. Myanmar Summary Note: Singapore (SIN), Cebu (CEB), Kalibo (KLO), Yangon (RGN), Mandalay (MDL) *All timings local The demonstrations eventually led to a police crackdown, injuries to villagers and monks, and prompted the government to set up a commission led by an opposition party leader to investigate the project’s feasibility. In March 2013 an investigation by the commission supported continuation of the project provided investors made necessary improvements. In July 2013, a new contract was signed with revised from 4:45:51 between the Myanmar state company Myanmar Mining Enterprise, UMEHL and Wanbao to 51:19:30. Under the new contract, Wanbao will also invest $2 million annually for mine reclamation and invest $1 million in corporate social responsibility (CSR) activities before beginning production. In addition, all investors will allocate 2 percent of their throughout the project. China is the largest investor mostly in hydro- power, mining and gas and oil projects in its impoverished Southeast Asian neighbour which of economic stagnation, corruption and sanctions. Chinese companies lead actual investment in Myanmar with $14.12 billion, or nearly 42 percent of the total $33.67 billion, from Following suspension of the project, Myanmar witnessed a sharp fall in its foreign direct investment as Chinese investors feared political uncertainty might cause heavy losses. Investor pullout Chinese investment in Myanmar plunged from 11 to $407 million in the the Myanmar Investment Commission. Myanmar people often fear the big investment projects, rooted in Myanmar’s military past, that Chinese investment failed to make up the shortfall, threatening Myanmar’s economic development. Chinese companies tend to speak to the big resources more for the than for its local residents. The Letpadaung copper mine is not the only proIn September 2011, Myanmar President Thein Sein ordered suspension of the $3.6 billion Myitsone Hydropower Project in upstream Ayeyawady River as a result of opposition from residents. That project was backed by China Power Investment. that worked well under the Myanmar military junta, said Li Zuqing, a Myanmar-based ethnic Chinese and dean of the Mandalay-based Fuqing Computer and Language School, “but that no longer works nowadays [as people demand democracy and transparency].” The Chinese company’s are little known by the Myanmar general public as they do not have a pifumylavaMumif;vdi;f wpf

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