Category Archives: Business

CEVA begins operations from its own office in Yangon

CEVA

World’s leading freight management and supply chain management company-CEVA, has opened its office in Myanmar’s capital, Yangon. Prior to this, it had been operating through a network partner in Myanmar. However, now, with its own establishment in Yangon, it has expanded its range, encompassing air and ocean freight facilities, leveraging its global system of One Freight System (OFS).

Myanmar is beaming with business and investment opportunities, and with CEVA‘s office in Myanmar, developing businesses are sure to reap benefits. Accentuating the ease in business flow through its effective supply chain solutions, operations and logistics, and with its proficiency in retail, industrial and consumer sectors, CEVA’s competitive professionalism shall certainly trigger business growth in Myanmar.

CEVA’s Managing Director Mekong Cluster states, “Myanmar is a country with real opportunities for growth. It has a population of 55 million people who are looking at companies like CEVA to provide supply chain services to support their developing business and meet their requirements. In the past, the country’s infrastructure has been a limiting and inhibiting factor but with our global network and more importantly, our experience in emerging markets, especially in this region, we are confident that with our own office and robust IT offerings, we can deliver options and solutions to the market and, at the same time, grow our commercial footprints.”

Revitalising and realigning its economic avenues post its democratic embrace, Myanmar’s export and import trade is expected to grow and escalate.

Worlds Bank Extends Aid to Myanmar by Two Years

The World Bank

Steadfast in its quest to mitigate poverty, unemployment, and to let the business climate of Myanmar keep buzzing with further opportunities, developments and investments, the World Bank has pushed the time frame of its Aid-Programme by two years to 2019, from the initially frozen 2017.

The Senior Economic Advisor of World Bank, Mr. Sjamsu Rahadja stated, “Since 2015, we have provided $3 billion in aid to Myanmar. We have made the commitment to provide aid for two more years after the agreement with State Counsellor and the Ministry of Finance and Planning.”

Driven by its primary goal of alleviating poverty, generating job opportunities and enhancing human capacity, the World Bank’s activities for the extended period involve – developing irrigated farmland spanning 10,000 hectares, electricity access to more than 3 million people and building bridges for connectivity in rural areas. In addition to this, scholarship programmes, preparing Extractive Industries Transparency Initiative Report for Oil, Mining and Gas Sectors, are also on the World Bank’s task-list aimed for 2019.

The Public Relations Officer of World Bank Myanmar, Mr. U Kya Soe Lin stated, “To be successful or unsuccessful, the project depends on the public, the beneficiary of the project. By receiving feedback from the public, we will keep working on the project and know what to make our priorities.”

The World Bank’s list of activities also includes disbursal of loan worth $500 million to private sector corporates.

Dentons Law Firm expands its presence in Yangon

Business expansion in Myanmar is driving most of the global company’s investment strategies. The organic landscape of possibilities and potentialities that Myanmar has become synonymous with, is leading global giants in every field to launch their set-up in this newly reformed country.

World’s largest and most renowned law firm – Dentons, has ushered in its presence in the capital city of Myanmar. Dentons in Myanmar shall work in close proximity with Singapore’s prominent law firm-Dentons Rodyk. The new Dentons office has been equipped with a team of seven lawyers and staff led by Mark Livingston, from Livingston Legal.

Global chairman of Dentons, Mr. Joe Andrew stated, “The economic development and democratization of Myanmar has opened up a wealth of inbound and outbound opportunities for our clients from within Asia and around the world.”

The provision of superior, well-structured and dependable legal services through the opening of Dentons Law Firm in Yangon shall catalyze the economic development of Myanmar, and prove to be significant in the progress of an emerging economy.

“At Dentons Myanmar, our team’s deep understanding of the country’s regulatory and business environment will be combined with the direct support, global reach and resources of the world’s largest and leading law firm,” said Mr Livingston. “Being part of this hugely expanded platform will greatly enhance our ability to provide superior services in the Myanmar market, and our clients will enjoy the benefits and opportunities that come with access to global resources and a global network.”

With exuberant demographic dividend of young population of more than 600 million, and the collective GDP of US $ 2.4 trillion, the ASEAN Block is bursting with economic energy and growth plans, making it a thriving business and trading zone.

BHEL bags Rs 10,000 Crore contract from Bangladesh

BHEL

Bharat Heavy Electricals Limited (BHEL) has bagged its largest-ever export order which is valued at Rs. 10,000 crore. This order is for setting up a thermal power project in Bangladesh. The Indian company was able to win this contract in spite of very hard and competitive bidding. The order has been secured from Bangladesh-India Friendship Power Company Limited (BIFPCL) which is a 50:50 joint venture between NTPC and Bangladesh Power Development Board (BPDB). BHEL is India’s largest power equipment manufacturer. The company has arranged debt financing for the project from Exim bank for which loan agreement between Exim bank and BIFPCL was signed in March 2017.

BHEL’s scope of work in the project includes design, engineering, manufacture, supply, construction, erection, testing and commissioning of the 1320 MW thermal sets with ultra-supercritical parameters on turnkey basis. It will also set up a jetty and a river-water intake system. The main equipment to be used by the project will be manufactured at BHEL’s Trichy, Haridwar, Hyderabad, Ranipet, Bhopal, Bangalore and Jhansi plants. The responsibility for the construction and installation activities at site will lie upon the company’s power sector construction division. BHEL has done some projects in Bangladesh earlier as well which include 100 MW Baghabari Gas Turbine Power Project and 2×120 MW Siddhirganj in Bangladesh. It has also set up 220 KV Baghabari & Ishurdi substations.

North East India’s largest IT Hub opens in Tripura

CM Manik Sarkar
Tripura’s Chief Minister Mr. Manik Sarkar

Extolling Tripura’s industriousness in Information and Technology sector and it’s excellence in the endeavor of e-governance, Central government awarded the state with accolades and rewards.

With the potential to generate and boost employment opportunities for its IT schooled individuals, Northeast’s largest IT hub was inaugurated in Tripura by its Chief Minister Mr. Manik Sarkar, along with IT and Education Minister Mr. Tapan Chakraborty and Mr. Omkar Rai, Director General of Software Technology Parks of India (STPI).

The decision was rolled out with the enthusiastic vision to encourage prominent IT companies of India to commence their business; making utmost use of the beneficial services and holistic facilities that sprouted with the establishment of North East India’s sixth and largest IT hub, costing 50 crores.

Motivating and inspiring the new age spirit of entrepreneurship; beckoning start-up companies to the new haven of IT hub can be rendered as a positive and promising initiative, underscoring Government of India’s ideology of ‘Start-up’ culture and ‘Digital India’.

The effectual impact resulting in the export of software technology and furnishing e-governance accessibility to the door step of people is also an important aspect being looked forward to and awaits the test of time.

Tripura booming with English skilled IT educated youth and now supplemented with the upcoming IT hub in the North-East, would surely reap benefits from its close proximity with Bangladesh. Capitalizing on its qualified personnel and infrastructural development, Tripura could prove to be an asset for Bangladesh’s nascent IT industry, thereby driving economic enhancement for itself by doubling Bangladesh’s IT exports by 2017.

Tripura Revises IIPIS to attract investment and employment

Tripura Revises IIPIS

Tripura is transforming itself into an immensely valuable business and trade destination. Brimming with natural landscape and manmade marvels of infrastructures, its economy is exploding with the excitement of new possibilities and fruitful collaborations.

However, it is a matter of utmost importance to harness the transition from a remote, neglected region to becoming North East’s most productive and nationally rewarding state. Employment based subsidies, revamping investment topography, enriching IT and software segments and providing incentives for Agri-businesses are some of the prominent facets driving the state’s economic engine of growth.

With the recent revision in Industrial Investment Promotion and Incentive scheme (IIPIS) 2012, Tripura has accoutered infrastructural and logistic support, along with capital subsidy being raised from 30 to 35% of the fixed capital investment.

With dismissal of bottlenecks and ease in connectivity between India and Bangladesh, the investment windows have been generously flung open to welcome South Asian markets. Hassle-free operations have given Bangladesh the confidence to provide accessibility to its seaport at Chittagong and river port at Ashuganj.

Known for pragmatism and circumspect vision, Chief Minister Mr. Manik Sarkar has fueled the state of Tripura with investment beckoning opportunities, specifically for establishing small and medium scale units. The rich reservoir of natural resources like bamboo, rubber, tea and natural gas make the investment pool even more expansive and wide-ranging.

ACCOR Hotels to open 5 new hotels in Myanmar by 2019

Accor Hotels

International hotel chain operator AccorHotels plans to expand its base by opening five new hotels in Myanmar by the year 2019. In order to re-brand an existing hotel apartment into a Mercure in Myanmar, the company has signed a management contract with SC Capital Partners Group. The management contract will make it Accor Hotelspossible to rebrand the seven-story Micasa Hotel Apartments Yangon to Mercure Yangon Kaba Aye by July 2017. The new Mercure is located in close proximity to the famous Shwedagon Golden Pagoda. It offers 143 apartments and 40 deluxe rooms to its customers.

As per company’s Chief Operating Officer (CEO) Mr. Patrick Basset, the company is opening five new properties by the year 2019 as a part of the larger strategy to expand its footprint in Myanmar. A press release issued by AccorHotels stated that presently there are five of its hotels operating in Myanmar. These hotels include, The Lake Garden Nay Pyi Taw, MGallery by Sofitel, Novotel Yangon Max, Novotel Inle Lake Myat Min, and ibis Styles Yangon Stadium.

 

FORBES gives Myanmar Marketing Master Coveted Capitalist Honor

Forbes

Myanmar has made it onto Forbes Magazine’s “30 Under 30 Asia” list for the second year consecutively. Ms. Chan Myae Khine, founder and CEO of Amara Digital Marketing Agency, is listed as one of the honorees for Media, Marketing & Advertising category this year. Ms. Chan’s Forbes profile says the following: “Khine is responsible for the first ever digital marketing agency in Myanmar, which is also completely self-funded. Amara manages digital marketing projects for local and international clients. International hotel chain operator AccorHotels plans to expand its base by opening five new hotels in Myanmar by the year 2019. In order to re-brand an existing hotel apartment into a Mercure in Myanmar, the company has signed a management contract with SC Capital Partners Group. The management contract will make it possible to rebrand the seven-story Micasa Hotel Apartments Yangon to Mercure Yangon Kaba Aye by July 2017. The new Mercure is located in close proximity to the famous Shwedagon Golden Pagoda. It offers 143 apartments and 40 deluxe rooms to its customers. As per company’s Chief Operating Officer (CEO) Mr. Patrick Basset, the company is opening five new properties by the year 2019 as a part of the larger strategy to expand its footprint in Myanmar. A press release issued by AccorHotels stated that presently there are five of its hotels operating in Myanmar. These hotels include, The Lake Garden Nay Pyi Taw, MGallery by Sofitel, Novotel Yangon Max, Novotel Inle Lake Myat Min, and ibis Styles Yangon Stadium. In 2016, Amara’s revenue grew by 400 percent to reach US $ 200,000. It has served clients such as Nok Air, VietJet, Singapore Tourism Board, Cherry Mobile, Oppo, and the Singapore Institute of Management.”

Ms. Chan opened her marketing firm Amara in partnership with her husband Mr. Kyaw Myo Khine. Previously she studied at Yangon University of Foreign Languages and National University of Singapore and then she started working in Singapore in both IT related and marketing roles. In relation to being included in this prestigious list, Ms. Chan said: “Comparing to other honorees from different countries in this year’s list, my achievement is next to nothing. Yet, I am grateful for getting featured while leading an independent agency fully owned by locals. As Forbes looks at company’s results rather than individual’s achievements, this recognition is mainly the result of my colleagues. I would love to see more Burmese making to the list under various categories in upcoming years.”

BDMS Unit Opens Medical Lab in Yangon

BDMS Medical Lab, Yangon

National Healthcare System Co Ltd (N Health), a healthcare business unit owned by Bangkok Dusit Medical Services Plc (BDMS), has opened a medical laboratory in Yangon in partnership with some local firms. N Health considers this investment in Myanmar as just a first step as it has plans of opening up various other branches in this region. After Myanmar, the firm plans to spread its operations in Cambodia and after that further ahead in Indonesia and the Philippines. They want to spread their reach and provide high quality preventive healthcare services to much more people. The company’s annual revenue was US $90 million for the year 2016 and its shows a 25% increase year-on-year which is the result of its business expansion. In Thailand, BDMS provides system services and products supporting the hospital business such as diagnostic testing, biomedical engineering, sterile processing, hospital linen management, telemedicine and medical equipment supplies.

In Myanmar, it will focus on operating the medical laboratory which will support large hospitals for highend genetic tests, allergy tests and evaluations for tuberculosis, malaria and dengue fever. It also aims to provide standard analytical services including medical checkups for small and medium-sized hospitals as well as walk-in customers. In order to register itself in Myanmar, N Health has partnered with two local healthcare companies – Bahosi Hospital and Sea Lion Group. As a partner in this alliance, N Health will bear 60% of the total US $2.5 million investment this lab while it’s two partners will put in 20% each. N Health Myanmar plans to open another laboratory in Mandalay in the near future.

INDIAN OIL CORP. IS KEEN TO START RETAILING OPERATIONS IN MYANMAR

Indian refiners already have a presence in Bangladesh and Nepal and now they are keen to enter Myanmar as auto fuel suppliers. At the same time, they are also consolidating their presence in their earlier South Asian markets. Numaligarh Refinery Ltd based in Assam will be the first Indian company to sell petroleum products to Myanmar starting in the latter half of 2017. Initially the fuel will be supplied through pipelines and in future the demand turns out to be huge then the company might invest in pipelines. Indian Oil Corp., the Indian Government owned refinery, is also looking forward to start its operations in Myanmar and has already submitted a proposal to the government of that country.

This corporation is also is also preparing to expand its Nepal operations by opening 100 retail outlets in partnership with Nepal Oil Corp. The possibility of expanding the proposed pipeline to connect Motihari in Bihar and Chitwan in Nepal was discussed between India’s Oil minister Dharmendra Pradhan and Nepal’s minister for supplies Deepak Bohara during a meeting held in March 2017. The possibility offsetting up two additional pipelines to transport liquefied petroleum gas (LPG) and natural gas is also being discussed between India and Nepal.