Category Archives: Business

GOVERNMENT OF MYANMAR VOUCHES FOR THE RIGHTS OF RURAL WOMEN

GOVERNMENT OF MYANMAR VOUCHES FOR THE RIGHTS OF RURAL WOMEN

On the occasion of International Women’s Day, a conference was held at the Myanmar International Convention Centre in Nay Pyi Taw. State Counsellor Daw Aung San Suu Kyi while addressing the gathering, talked about the rights of the rural women, the need to promote them in order to build a better future and life. She pointed out the discrimination between men who are expected to move out for work while the women stay behind. Thus, highlighting the precarious state of rural women.

The State Counsellor urged the Health and the Sports Ministry to concentrate on the condition of the rural population, particularly women. The improvement in the status of their health conditions would be a reflection of development in the rural sphere, and in consequence, leading them onto the path of equality with the urban populace. She added, “The ministry will have to start by improving the health of children and mothers in the villages.”

Thus, shrinking of urban and rural gap is essential and imperative in accomplishing sustainable development goals, with development of women being at the core of this mission. Minister of Social Welfare, Relief and Resettlement Mr.U Win Myat Aye further stated, “If we utilise the existing resources more effectively for rural women’s development, there will be more success.”

Focussing on the nutritional requirements of the children, Aung San Suu Kyi expressed, “It’s crucial to develop the right mindset in your sons and daughters from the time they are born. Women are invaluable. No matter how much a father says he loves his children, there are only a few who can spend as much time with a child as a mother can.”

One of the development projects designed to uplift rural women is being implemented by the Rural Development Department called Mya Sein Yang project. This public- based project intends to electrify the villages that lie outside the purview of the power grids. Apart from this, various other village development projects impacting the lives of women have also been initiated.

UMWS TO LAUNCH ITS PRESENCE IN MYANMAR

Managing Director of UMWS – Mr. Atsushi Tomita

Leveraging the pervasive digital opportunities exploding the current scenario, United Motor Works (Siam) Public Co (UMWS) has exhibited its expansion plans in the region of Myanmar.

One of the foremost distributors of premium quality industrial and automotive tools and machinery in Thailand: UMWS is driven to extend its commercial presence in Myanmar primarily, followed by Laos, Malaysia and Cambodia in the span of three years.

Managing Director of UMWS Mr. Atsushi Tomita regards growth prospects through digital ventures extensive with its credibility of overcoming geographical barriers. Capitalising on Thailand’s immediate neighbour Myanmar seemed pertinent to him. Believing in shared beneficial arrangement between Myanmar and Thailand, he reckons Myanmar as their second largest market in ASEAN. He remarked, “The firm would officially launch in Myanmar by next year, bringing its Thai product range and other products to meet local market demands. It will mainly focus on handling and lifting equipment as well as automotive garage items.”

The way forward to grip the Myanmar market lies in embracing its local culture and in being able to strike a chord with its local people. He added, “We need to fit the culture and situation of Myanmar market and hope to ease our challenges by engaging with the right local
partner. We will ensure we recruit local people to manage the market.”

With a total of 8 million shares and current paid-up capital of Bt80 million, UMWS has 59 shareholders since its establishment as a public company in 1947. As per Tomita’s expansion roadmap, 10% of the firm’s registered capital is devoted toward that.

In its market segment, UMWS is positioned among the top three. Tomita plans to clock new milestones in Thailand before he expands his network to other nations and finds its presence in the ASEAN Economic Community. He says, “Depending on the demand, we will continue growing the overseas business further, hopefully to 50 per cent in the future.”

JAPAN’S YAMATO TO AID MYANMAR’S LOGISTICS MARKET

JAPAN’S YAMATO TO AID MYANMAR’S LOGISTICS MARKET

The ruffled circumstances brewing in Myanmar have not refrained Japan from being a constant in Myanmar’s economic upliftment. Its cordial gestures have time and again surfaced to ameliorate Myanmar’s business landscape.

Being disconnected from the commercial segment for long, the need to be integrated and linked with the regions around is a must for the nation to prosper. To cultivate circumstances of cross- border trade, Japan’s delivery giant – Yamato, emerged to provide operational and logistic support solutions to Myanmar. Along with its subsidiary based in Singapore and Aye International Group Company, a joint endeavour called Yamato Global Logistics Myanmar Company was shaped last December. Its scheduled to begin its operations from April.

With the support and services offered by Yamato, the import and export logistics involved between both the countries and further with the South-East Asian countries, is expected to bring efficiency in the whole system.

With the intent to build and mature operations in Myanmar and integrate it with the regional supply chain, solutions being forwarded by the Yamato Group comprise cross- border transport, warehousing, freight forwarding services, home relocation services etcetera.

Yamato Group expressed, “Our main target will be the B-to-B market, such as production goods market, consumer goods market, and B-to-B logistics such as procurement and delivery. We think our challenge will be how we can differentiate ourselves compared to our competitor, by providing added value to our forwarding businesses.”

Yamato’s Singapore subsidiary -Yamato Asia owns 80pc stake, with the contribution of US$400,000, and the domestic firm Aye International Group (AIG) owns 20pc stake with the coverage capital of US$100,000.

Being in the immediate geographical space with Thailand which is the regional centre of industrial activities, Myanmar’s participation in the region’s cross-border trade and logistics market was deemed essential and imperative by the Japanese delivery giant. Thus, the cross-border opportunities enabled by being part of the regional supply chain will bolster the manufacturing scope of consumer and industrial goods, along with its procurement and delivery aspects.

Thereby, with its expansion plans to Myanmar and Southeast Asia, Yamato Holdings have put Myanmar onto the path of acceleration and integration with the regional and global economy.

MYANMAR GETS NEW TELECOM NETWORK – MYTEL

MYANMAR GETS NEW TELECOM NETWORK – MYTEL

With an extensive telecom sector already placed in Myanmar, country’s new and fourth telecom operator announced its presence at its launch ceremony held in Kempinski Hotel at Nay Pyi Taw, Myanmar. With its predecessors – MPT, Telenor and Qatar positioned well in the telecom market, Mytel is all set to carve a niche for itself by reaching out to 92 percent of the country’s population with rural population in major focus.

Chief Communication Officer Mr. U Zaw Min Oo expressed, “In villages, people use more voice service than data. In regards to making profit in rural areas, I am afraid even the existing operators are not making profit from the rural areas. But we are trying.”

In a joint venture with Myanmar and Vietnamese firms, Mytel is owned by

Myanmar National Telecom Holdings Public Company Limited, Star High Pubic Company Limited and Viettel Global, with their percent stake as 23, 28 and 49 respectively.

While presiding over the launch ceremony of Mytel, Myanmar’s commander-in-chief Mr. Min Aung Hlaing talked about the lifestyle changes and the improved socioeconomic status of the people as a result of telecommunication systems.

It is estimated that Mytel SIM cards would be out in the market by March on 3G and 4G networks. Believers of Mytel intend to make their telecom operator the second largest in the next three years and first in the next five years.

The Commander-in Chief of Defence Senior General Min Aung Hlaing made the first call to Vietnamese Defence Minister Mr. Ngo Xuan Lich through Mytel operator.

Mytel intends to make use of the Asia- Africa- Europe submarine cables and reduce service charge to have an edge over its competitors.

With 1100 employees and more to get inducted as it begins its operations in March, it aims to cover 92 percent of the population, wherein 99.3 percent would be urban population and 66 percent would be rural population in voice calling service and 78 percent of the country’s population in data service.

With a 15 year term license and 18 branches across the country, Mytel plans to invest $2 billion in telecommunication and information technology to provide its services across Myanmar.

Biotechnology to Turn Assam into an Organic Hub

Guwahati Biotech Park

Galvanized by the boon of biotechnological application elevating the economic potential and scenario, the state of Assam has welcomed the Guwahati Biotech Park by laying the foundation stone of its Technology Incubation Center.

Assam is the northeastern paradise of natural resources—microbial, medicinal, plant and animal species correctly acknowledged and recognized as one of the biodiversity hotspot regions. Naturally endowed with resources and crops of rich commercial value and economic viability, the bio-resource potential of the region is vast.

Tapping onto its plethora of natural gems and organic farming skills, Assam’s Chief Minister Mr. Sarbananda Sonowal perceive biotechnology as an instrumental tool in enhancing value creation and production, and most importantly in leading Assam as an organic hub.

He believes that application oriented science is the new, rewarding and smarter way of life, triggering the state’s competency in capturing the organic market of the Southeast Asian region.

Skilled and proficient in traditional methods of farming, biotechnological intervention in the same would ensure more productivity and better wealth prospects, particularly in Assam’s agro based industry.

The technology incubation center is being established with a view to integrate and instill a scientific culture of biotechnology. This knowledge-based sector of biotech is being lauded as an emblem of progress, employment and an economic booster, leading and impacting the state’s social and economic development goals.

Pronouncing Assam as an important gateway to Southeast Asia, Mr. Sonowal encourages the youth and the people in general to embrace and develop science based skills and evolve their entrepreneurial development. In effect, generating and promoting business in biotechnology, enhancing research and development activities, as well as augmenting the prospects and scale of biotech industry, is the driving force behind the setting up of Technology Incubation Center of Guwahati Biotech Park.

2017 Horasis Asia Meeting to Promote Business in Mandalay

2017 Horasis Asia Meeting

An international conference organised to beckon business leaders and government representatives to boost Mandalay’s business landscape was held in Kolkata, India recently.

Mandalay – the second largest city in Myanmar – is considered the economic powerhouse and cultural hub of Myanmar.

Speaking at the 2017 Horasis Asia Meeting, Chief Minister of Mandalay Region Government Dr. Zw Myint Maung urged foreign participants to invest in this central region of Myanmar for it is the nerve centre of the country with its commercial activities, educational and health domain being its primary growth drivers. He solicited and advised delegates to chart a business course to amplify and reap from the development opportunities of Mandalay.

Themes permeating the session comprised ‘Start-ups and Entrepreneurship’, ‘Partnerships in Competition’ and ‘Knowledge as a Public Good’.

The Horasis Asia Meeting annually invites representatives and delegates from developing and developed markets to Asia’s seminal business congregation to bolster investment prospects, regional cooperation while ensuring sustainable growth opportunities. In 2017, the Indian Chamber of Commerce (ICC) and the Government of West Bengal jointly hosted the Horasis Asia Meeting later in November.

Myanmar’s cordiality with India and vice versa, got re-affirmed with the Prime Minister of India Mr. Narendra Modi’s recent visit to Myanmar wherein he offered Government of India’s support in restoring and revamping the Ananada Temple that got severely damaged due to the forces of earthquake. Thus, Mr. Maung expressed, optimism between the two nations and greeted India’s policies – Neighbourhood First and Act East Policy – as the integrative podium of better and stronger relations between both the countries.

Asia IoT Business Platform Launches in Myanmar

Asia IoT Business Platform

Transitory waves in Myanmar’s business and economic sphere are evident through its development graph and an incessant interest evinced by the global communities. With passably paced infrastructural growth and expansion, the subsequent moves are driving toward digitisation to advance the economic paradigm of the nation.

To enhance business productivity and efficiency through the use of services such as Information and Communications Technology (ICT) and Internet of Things (IOT), Asia IoT Business Platform has entered Myanmar to explore the potential of these services in Myanmar and engage companies with its benefits.

This platform is an educational and a collaborative medium to seek, learn and benefit from the IoT Industry reigning in the South East Asian region. With central focus on Machine-to-Machine (M2M) and Internet of Things(IoT) Technology, Asia IoT Business Platform aims to enable efficient, effectual and competent business solutions across multiple industries and sectors in Myanmar and other South East Asian countries.

Singapore firm: Industry Platform Private Limited, vital to telecommunication sector made the announcement of Asia IoT Business Platform’s launch in Myanmar. This was affirmed by the support extended by the ministries of Commerce, Education, Industry, and Transport and Communication.

Myanmar’s current stand is aspirational and is in a constant move to rapidly grow and progress. Thus, for Myanmar to vault into new technologies and greater economic opportunities, four priority areas have been outlined – integration with the global sphere, digitisation of infrastructural services, transition to manufacturing domain and growth in urbanization.

Director of Industry Platform Private Limited, Mr. Irza Fauzan Suprapto stated, “Myanmar is at an interesting crossroad for telecommunications and digital transformation. While basic ICT infrastructure is being developed and completed, awareness on a digital strategy is crucial for local firms to grow and maximize the potential of ICT and IoT in their operations.”

Mobile Money operations are adequately active in Myanmar with Telenor’s Wave Money and Ooredo’s M-Pitesan – major telecom operators – geared to launch their operations soon. The platform had speakers from Asia Green Development Bank, Ooredoo Myanmar, KBZ Bank, First Private Bank, Telenor Myanmar, MPTKSGM, Yoma Bank and Aya Bank, engage with mobile money sector.

The Asia IoT Business Platform with its industry programme showcased case studies highlighting the benefits of IoT and IoC through educational technology, road safety measures and more.

IFFCO Signs MOU with Sikkim to Diversify its Business

Dr U S Awasthi
Dr. U S Awasthi, Managing Director, IFFCO

With wide-ranging business interests and models, India’s biggest processed fertilizer cooperative – IFFCO has expressed its plans to explore business possibilities and opportunities across the organic food market segment and food processing sector. Constantly striving to expand, diversify and mature its business canvas, IFFCO has inked an agreement with the Government of Sikkim with an initial investment of Rs.200 crore, which shall increase to Rs.500 crore gradually.

In this joint venture, IFFCO shall hold the majority stake of 51 percent equity and 49 percent equity shall be held by the Government of Sikkim.

For this venture, the superlative technological expertise and innovative knowledge of Aquagri Processing Private Limited have been leveraged by IFFCO and Aquagri’s 50 percent shareholding has also been acquired for Rs.11 crore for the purpose of creating value additions in the food processing sector.

Reputed for harvesting natural sea plants, with particular emphasis on seaweed cultivation, Aquagri’s innovative solutions, apart from adding values to the industries of animal husbandry, food processing, and agriculture, are also a potential source of ameliorating community living through employment generation.

One of the significant engagements of Aquagri revolves around the development of organic product portfolio by making use of humic substances, bio actives and alternate sources of nutrition.

One of the pivotal products – a biostimulant – SAGARIKA, developed collectively by Aquagri and IFFCO, has been appreciated and valued by the farmers for espousing qualities that enhance crop productivity and is capable of resisting stress.

Capitalizing on this union, IFFCO is all prepared and energized to exhibit a variety of organic and nonchemical based products for crop nutrition. With the vision to enrich the entire northeastern region as a mega organic agricultural zone, Sikkim’s MOU with IFFCO has led the state in being responsible for facilitating the industrial level mass production and packaging of the organic products.

The accessibility and the reach of the products within the length and breadth of the northeastern region shall be taken care of by two IFFCO e-bazar centers in all the RainbowStates as planned by IFFCO.

Dr. U S Awasthi, Managing Director, IFFCO remarks, “Nobel ventures and good ideas which don’t result in profitable enterprises are quickly forgotten, as they are not sustainable. We are looking forward to exploring the organic opportunities across the country.”

First Foreign Company Set to Build Oil and Gas Supply Base in Myanmar

Oil and Gas Supply Base

Singapore‘s MOSB Limited -Myanmar Offshore Supply Base, has been granted authorization to set up an oil and gas supply base, becoming the first overseas company to do so in the Mon State of Myanmar.

Myanmar has welcomed this project with great energy and enthusiasm as it gets approved and endorsed by the Myanmar Investment Commission (MIC) and the Ministry of Electricity and Energy.

With this arrangement, the oil and gas industry in Myanmar is expected to boom and impact the communities around by furnishing employment opportunities as well as aid in providing infrastructure, health and education facilities. Also, the travel time shall get substantially reduced, thereby, enhancing efficiency and productivity.

The Executive Chairman of MOSB, Mr. Leonard Oh, stated, “The planned offshore supply base would reduce the traveling time for oil and gas companies with Myanmar operations, who would otherwise have to travel to Singapore or Thailand.”

Contributing to the growth and expansion of Myanmar’s economy, MOSB’s efforts and commitment to boosting business shall involve its investment in refining the expansive and widespread infrastructure, transportation and the associated telecommunications.

U Zaw Min Oo, Village Head of Waeka Li Village, Mon State believes, “This will support the local communities by creating a lot of job opportunities, and will most definitely improve our standard of living in many different ways.”

The joint venture between Two Fish Supply Base Limited of Myanmar and 2 Fish (SG) Pte Ltd of Singapore is represented by the MOSB company, engaged in abetting the growth plans of Myanmar.

World Bank appoints Ellen Goldstein as the new director of Myanmar, Cambodia and LAO PDR.

Miss Ellen Goldstein

Miss Ellen Goldstein has been appointed as the new director of Myanmar, Cambodia and Lao PDR by the World Bank. Miss Goldstein’s efforts in promoting peace, prosperity and ending extreme poverty would require her to foster partnerships and deepen relationships with client countries while strengthening economic reforms, to fulfill the roles and responsibilities of her position.

Miss Goldstein is a dual Master degree holder in International Economics and Development Studies from Princeton University, and in International Health and Population Dynamics from John Hopkin’s University.

She has held several meritorious positions prior to this recent appointment. These include – Director for the Western Balkans and Central Asia Region, Director for Bangladesh and Nepal. She has been associated with the World Bank for more than 30 years and has discharged key responsibilities.

Map of Myanmar

With Myanmar liberalizing its economy, welcoming global resources and aggressively connecting with global networks, the World Bank, in placing a Director in Yangon for the first time, has exhibited its deep, engaging interest in Myanmar’s transition to a market-oriented economy.

Miss Goldstein remarked, “I am honored to have been appointed to represent the World Bank in Myanmar, Cambodia and Lao PDR, and look forward to better understanding their unique histories and development paths.”
“Most recently, Myanmar, Cambodia and Lao PDR have seen the fastest economic growth in East Asia. Through our partnership strategy in each country, the World Bank will continue to support inclusive growth that benefits the poor,” stated Miss Goldstein.

With the US $ 2.17 committed by the World Bank in supporting more than 40 active projects in these countries, the World Bank’s inclusive growth mission to benefit the impoverished by providing access to health, nutrition and education facilities, is an integral part of these projects.