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Kiwi to the rescue
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I love whats coming out of Myanmar at the moment! lets just hope that progress continues and Myanmar has a happy future. The country has a massive potential to become a major player in SE Asia.
 

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The Explorer
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World financial groups re-engage with Myanmar to support reform
(Shanghai Daily, Aug. 2)

YANGON, Aug. 2 (Xinhua) -- The World Bank opened its first country office in Yangon's Inya Lake Hotel Wednesday, while preparing to grant 85 million U.S. dollars to support Myanmar's reform drive.

The World Bank's move signified a re-engagement with Myanmar by a world financial institution after decades-long non-engagement. World Bank Group Vice President for East Asia and Pacific Pamela Cox announced the grant at the opening of the office which was jointly made with Karin Finkeiston, International Finance Corporation Vice President for Asia and Pacific .

"The Bank is preparing to present to its Board up to 85 million U.S. dollars in grant to benefit men, women and children through community driven development programs which will allow communities to decide whether to invest in schools, roads, water or other projects," said a press release of the World Bank Group.
more: http://www.shanghaidaily.org/article/article_xinhua.asp?id=86792
 

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Myanmar outlines monetary development master plan
(Shanghai Daily, Aug. 3)

YANGON, Aug. 3 (Xinhua) -- Myanmar has outlined a master plan for monetary development which is to be implemented with the assistance of the World Bank, official media reported Friday.

Under the master plan, arrangement has been made to enact Foreign Exchange Management Law soon, Minister of Finance and Revenue U Hla Tun told a meeting held at the Central Bank of Myanmar in Yangon Thursday, reported the New Light of Myanmar.

The government will allow local private banks to set up joint- venture banks with foreign counterparts that have opened branches in Myanmar, he said, adding that committees have also been formed for development of capital market and plan is also underway to promulgate securities dealing bill soon.
http://www.shanghaidaily.org/article/article_xinhua.asp?id=87025
 

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The Explorer
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Myanmar embarks on monetary reform
(Shanghai Daily/Xinhua, Aug. 4)

YANGON, Aug. 4 (Xinhua) -- Myanmar has made a master plan for the monetary reform which is to be implemented with the assistance of the World Bank. The World Bank (WB) opened its first country office in Yangon Wednesday, announcing preparation to grant 85 million U.S. dollars to support Myanmar's reform.

The office is also involving International Monetary Corporation (IMC) and the Asian Development Bank (ADB). Under the master plan, Myanmar is to enact Foreign Exchange Management Law soon, Minister of Finance and Revenue U Hla Tun disclosed on Thursday, saying that the government will allow local private banks to set up joint ventures with foreign counterparts that have opened offices in Myanmar.

Foreign banks from Singapore, Bangladesh, China, France, Japan, Malaysia, Netherlands, Thailand, Cambodia, Brunei, Vietnam, South Korea, the United States and Britain have opened 20 representative offices in the country.
more: http://www.shanghaidaily.org/article/article_xinhua.asp?id=87216
 

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The Explorer
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More American companies seek investment opportunities in Myanmar
(Shanghai Daily, Aug. 15)

YANGON, Aug. 15 (Xinhua) -- Eight more American companies of the American Chamber of Commerce based in Singapore are seeking investment opportunities in Myanmar, official media reported Wednesday.

These companies include Caterpillar, Citibank, KraftFoods, GE Energy, Ford Motor Co, Bell Helicopter, Hewleft-Packard Corporation and Arrow Technologies Pte Ltd, said the New Light of Myanmar. A delegation of the American chamber of commerce, accompanied by U.S. Ambassador to Singapore David Adelman and new U.S. Ambassador to Myanmar Derek J. Mitchell, called on Myanmar Vice President Sai Mauk Kham in Nay Pyi Taw on Tuesday.

Discussions were focused on the investment opportunities for the U.S. companies in Asia in service, energy, electricity, transport, communications, health and production sectors of Myanmar, the report said.
more: http://www.shanghaidaily.org/article/article_xinhua.asp?id=89068
 

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Liberty, Equality, Frate
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Discussion Starter · #47 ·
VISA training shops prepare Myanmar for e-payments

THE NATION August 18, 2012 1:00 am

Visa has taken its first steps towards entering Myanmar, with a series of training workshops to prepare selected local banks for the introduction of electronic payments as the country continues its economic and social reforms.

The workshops are aimed at upgrading banking facilities to accept and issue international payment cards and establishing a pillar for economic growth, the credit-card company says.

As Visa steps up its engagement, the first priority for Myanmar will be preparing for the influx of foreign visitors resulting from the relaxation of international sanctions. With Yangon's hotels and major tourist attractions now regularly full and the country's airports seeing increased passenger numbers, connection to the global economy is a key element in opening up the market.

The news comes as Myanmar gets set to host the anticipated rush of visitors expecting to use their

payment cards at next year's Southeast Asian Games and the regional World Economic Forum.

Having developed the global standards and infrastructure for much of the world's electronic payments, Visa believes it is in an ideal position to help pave the way for the country's entry to electronic payments.

"We know from experience that there will be an urgent requirement to provide basic ATM networks and point-of-sale terminals for international visitors arriving in Myanmar for business and pleasure, and that is where we will focus first," said Peter Maher, Visa group country manager for Southeast Asia and Australasia.

"Inbound businesspeople and tourists are already looking for the Visa acceptance mark at merchants for the convenience, security and reassurance it brings. The sooner we deliver electronic payments, the sooner Myanmar will benefit from the increased spending."

Maher added: "This is an exciting time for the people of Myanmar, and Visa is delighted to help bring the benefits, security and convenience of electronic payments to the country. As Myanmar builds its financial infrastructure, Visa will work hand-in-hand with the local market to provide its global knowledge and technology and bring safe, secure and convenient payments to all."

During the two-day event, Visa introduced representatives to the international requirements for electronic payments and a road map for development and delivery.

The first event in a series of interactive sessions addressed the critical needs, long-term objectives and immediate steps required to establish a payment infrastructure for Myanmar.

Speaking from Yangon, Somboon Krobteeranon, Visa country manager for Thailand and Myanmar, said: "These workshops provide a clear path to introducing a reliable and internationally connected gateway to the global economy, and we are already seeing potential partners enthusiastically supporting our proposals.

http://www.nationmultimedia.com/bus...-prepare-Myanmar-for-e-payments-30188575.html
 

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The Explorer
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Myanmar hopeful to become middle income nation by 2030: ADB
(Shanghai Daily, Aug. 20)

BANGKOK, Aug. 20 (Xinhua) -- Myanmar could expand its economy by 7 percent to 8 percent per year for a decade or more and become a middle income nation by 2030 if its reforms stay on track, the Asian Development Bank (ADB) said in a report released here on Monday.

Analyzing the opportunities and challenges facing Myanmar after decades of isolation, the report "Myanmar in Transition" is ADB's first major assessment of the country since it began political and economic reforms in 2011. It noted that Myanmar is showing good potential for growth and could become one of the next "rising stars" in Asia.

If the government keeps a firm and lasting commitment to reforming, economically and socially, the country would follow the pace of Asia's fast growing economies and raise its per capita income to 2000 to 3000 U.S. dollars by the year of 2030.
more: http://www.shanghaidaily.org/article/article_xinhua.asp?id=89977
 

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Mitsubishi Corp opens office in Myanmar capital
(Japan Today, Aug. 23)

TOKYO — Mitsubishi Corp said Wednesday it will establish a new office in Nay Pyi Daw, the capital city of Myanmar, on Sept 1.

Myanmar is rich in natural resources, and has the geographical advantage of sharing a border with China, India and other ASEAN countries. Its population of approximately 62 million forms a basis for further industrial development and carries high potential as a consumer market.
more: http://www.japantoday.com/category/business/view/mitsubishi-corp-opens-office-in-myanmar-capital
 

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Myanmar parliament passes investment law, now with president

YANGON (Reuters) - Myanmar's parliament passed a long-delayed foreign investment law on Friday and it has now gone back to the president, who has the final say and had resisted certain changes proposed earlier by lawmakers. [Veto?]


Myanmar Parliament Passes Foreign Investment Law




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By AYE AYE WIN Associated Press
YANGON, Myanmar September 7, 2012 (AP)
Myanmar's parliament adopted a much anticipated foreign direct investment law Friday that is crucial to the government's ambitious plans for economic expansion in one of Asia's poorest countries.

The law drops several provisions in the original draft that had raised fears it could deter investors. The law was seen as one of parliament's most urgent tasks and was passed on the last day of its current session.

One proposal dropped from the law would have required a $5 million minimum initial investment outlay. The final version also allows foreign parties to hold a 50 percent stake in joint ventures rather than limiting them to a proposed 49 percent.

Elected President Thein Sein launched economic and political reforms when he took office last year after almost five decades of military rule, foreign sanctions and restrictive laws that kept the economy stagnant. Myanmar has an inefficient agricultural sector and small industrial base, and most of its export earnings come from extractive industries, especially natural gas.

Western nations earlier this year eased economic sanctions instituted against the former military regime, lifting another barrier to foreign investment. Reforms to the financial system, especially the jettisoning of an onerous dual exchange rate system, were also made to encourage investors.

Another progressive aspect of the new law allows foreign investors to lease land for an initial period of 50 years with an option to renew, compared to 35 years under old rules.

"What Myanmar needs is a law that will attract new investment rather than restrict it. I welcome the fact that the amended law has dropped the regulation that requires $5 million startup initial capital," said Myint Soe, chairman of the Myanmar Garment Association and an executive member of the Myanmar Chamber of Commerce and Industry.

Myint Soe also said that allowing 50 percent foreign equity in joint ventures was also conducive to attracting foreign investors, who might be wary if the law tilted in favor of too much protection for local entrepreneurs.

While the new law, which must still be signed by Thein Sein, is considered a major step forward, Myanmar still needs to strengthen its legal framework, bolster institutions and improve infrastructure such as communications and transportation to further upgrade the investment climate.
 

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Liberty, Equality, Frate
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Discussion Starter · #51 ·
Myanmar draft investment law approved

Published: 8/09/2012 at 06:57 PM Online news: News

YANGON: Myanmar's parliament has approved a new draft foreign investment law aimed at opening the country up to capital and job creation, legislators confirmed on Saturday.

The final draft dropped a controversial clause requiring foreign investors to invest a minimum of US$5 million, said lower house legislator Thein Nyunt.

"Now there is no minimum investment amount," he said.

It also increases the maximum foreign shareholding in 13 sectors considered sensitive, including manufacturing, farming, agriculture and fisheries, to 50% from 49% proposed earlier.

There were unconfirmed reports that in some sectors where Myanmar is deficient, such as high technology, foreign investment could be up to 100%.

The law was passed on Friday, the final day of the lower house session. It now goes to President Thein Sein, who can sign it into law or send it back to legislators for more changes when the next session begins next month.

The president is expected to approve the law as he was known to have been unhappy with earlier attempts to place too many curbs on investment.

Full details of the draft were not available. Early indications are that it establishes a middle ground between the views of reformers seeking rapid change, and the more conservative legislators and local business leaders who fear foreign firms could come to dominate the economy.

Than Maung, a lawyer who sits on a parliamentary legal affairs commission, said disagreement over the law in recent weeks had highlighted the dilemma of choosing protectionism or an open economy.

"We shouldn't be too afraid of foreign investors. Every country in the world is protectionist to some degree," he said.

Economists and some officials had criticised the earlier $5-million minimum investment amount as likely to scare away the small and medium-sized companies that the country desperately needs to create jobs.

There are an estimated 10 million unemployed or underemployed people in Myanmar, according to government data.

The maximum foreign equity allowance in investments was raised from 49% to 50% in the approved draft, said Thein Nyunt, a member of the New National Democracy party.

In some business sectors, foreign ownership can exceed 50%, government officials said. They didn't specify the sectors.

Another progressive aspect of the new law allows foreign investors to lease land for an initial period of 50 years with an option to renew, compared to 35 years under old rules.

"What Myanmar needs is a law that will attract new investment rather than restrict it," said Myint Soe, chairman of the Myanmar Garment Association and an executive member of the Myanmar Chamber of Commerce and Industry.

"I welcome the fact that the amended law has dropped the regulation that requires $5 million startup initial capital."

Myint Soe said that allowing 50% foreign equity in joint ventures was also conducive to attracting foreign investors, who might be wary if the law tilted in favor of too much protection for local entrepreneurs.

Myanmar has been essentially closed to investment from Western countries for five decades, due first to isolationist policies and later to international economic sanctions.

Sanctions were eased this year after President Thein Sein implemented a series of political reforms and paved the way for Nobel peace laureate Aung San Suu Kyi to enter mainstream politics as an elected member of parliament.

Suu Kyi said on Friday that she plans to depart for the United States on Sept 16, her third trip abroad since becoming a legislator in May.

http://www.bangkokpost.com/business/news/311492/myanmar-passes-investment-law
 

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Liberty, Equality, Frate
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Discussion Starter · #52 ·
Thailand gives Myanmar Bt2 million financial aid for flood relief

BANGKOK, Sept 14 - Thai Foreign Minister Surapong Tovichakchaikul on behalf of the Thai government, presented financial assistance of Bt2 million to the Myanmar government to Tin Win, Myanmar ambassador to Thailand, to help relieve the effects of last month's flood.

Torrential rain in Myanmar caused flooding, forcing thousands of people to flee their homes and hundreds of thousands of acres of paddy fields were under flood water.

Mr Surapong told the Myanmar ambassador that Thailand is Myanmar's neighbour, sharing a common border, and that the financial assistance has underscored the close and cordial ties between the two countries.

Mr Tin Win said that the Myanmar government would consider allocating the financial assistance provided by the Thai government to the flood victims.

He has expressed sympathy for the Thai residents who were affected by the flood in Sukhothai.

Mr Surapong also said that on the sidelines of the annual United Nations General Assembly in New York later this month, Ms Yingluck and Myanmar President Thein Sein would hold bilateral talks on the progress of the Dawei deep sea port project.

Ms Yingluck and Thein Sein were scheduled to attend the UN General Assembly later this month and Ms Yingluck would deliver a speech at the United Nations headquarters on September 27.

The date for additional talks over the development of the project will be set after the two sides have concluded and the Thai premier will lead her delegation to follow up the project during the upcoming visit.

Ms Yingluck has earlier scheduled to visit Myanmar September19-21. (MCOT online news)

http://www.mcot.net/cfcustom/cache_page/413034.html
 

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Liberty, Equality, Frate
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Discussion Starter · #53 ·
Myanmar plans for new monetary policy

Published: 17/09/2012 at 11:48 AM

Myanmar's central bank plans to implement an independent monetary policy in the first half of next year to keep prices and banks stable as investors prepare to inject money into the former military regime.


Parliament will consider a law as early as next month that will expand the Central Bank of Myanmar's authority and independence, Deputy Governor Maung Maung Win said in an interview on Sept 14. The International Monetary Fund and Bank of Thailand will also soon complete training programs for Myanmar officials, he said.

"We are late so we have to do hard work," Maung Maung Win said in the bank's Yangon office. "When our training programs finish, we can target our inflation, we can target our foreign- exchange market."

Myanmar officials are preparing to take control of a financial system largely run on informal cash transactions as companies such as Western Union Co (WU) and Coca-Cola Co announce plans to operate in the country. Foreign-exchange transactions have started to shift from informal markets to banks after a managed float of the currency in April and the easing of restrictions on importers and exporters last month, Maung Maung Win said.

Authorised banks now handle about US$2 million per day in foreign-exchange transactions, compared with about $5 million in informal markets, he said. The central bank wants to eliminate unofficial trades before Myanmar hosts the Southeast Asian Games in December 2013, giving authorities more control as foreign companies prepare millions of dollars in investments.'

Capital Surge

"I do worry about that," Maung Maung Win said, referring to the impact of an expected surge of capital into Myanmar. "At that time, if the inflows are much, our currency will appreciate much. We have to do our best and negotiate with other ministries, other institutions to overcome that challenge."

The kyat has weakened 5.2% since the April float to 860 per dollar on Sept 14, the worst performer among Southeast Asian countries in that period, according to data compiled by Bloomberg. The central bank and government need to work together to keep the currency stable, and one way is by saving natural- resource proceeds to provide a reserve cushion, Meral Karasulu, an IMF official advising Myanmar, told an investment seminar in the capital Naypyidaw last week.

"There is a lot of structural and fiscal reform that waits to be done so all of these inflows ensure the economy benefits from it without significant negative implications for the exchange rate," she said. "The role is beyond the central bank."

Democracy Shift

President Thein Sein has shifted Myanmar toward democracy since he took office last year to end about five decades of direct military rule. He is seeking to create jobs ahead of an election in 2015 that will include former political prisoner Aung San Suu Kyi's National League for Democracy party.

Government policies such as a move last year to import more cars also play a role in managing the currency, Maung Maung Win said. While exporters are pushing for a dollar to fetch between 900 and 1,000 kyat to keep their goods competitive, the central bank will also take into consideration the views of importers and the rural population, he said.

Monetary policy and financial stability committees will be established once the new law is passed, Maung Maung Win said. International reserves can cover 10.5 months of imports, he said, compared with an IMF estimate of $9.9 billion for the fiscal year ending April 2013, or 9.7 months of imports.

Annual Growth

Myanmar's economy may grow as much as 8% annually if policy makers keep prices under control, increase trade and attract investment, the Asian Development Bank said last month. About a quarter of the country's 64 million people have access to electricity, while mobile-phone and Internet usage is among the lowest in Southeast Asia, the ADB said.

The central bank is a department under the Finance Ministry, and its main function is printing money to fund fiscal deficits. While bond sales financed about 46% of the budget deficit in the fiscal year that ended in April, the rest was monetized, according to the IMF.

The IMF expects the fiscal deficit to narrow as authorities expand one of the lowest tax bases in Asia, eventually reaching a balanced budget in 2031. The inflation rate, forecast to average 5.8% this fiscal year, is projected to stabilize at 3.5% over the long term, it said in a May report.

Foreign Banks

The government will allow foreign banks to enter joint ventures with local lenders next year, Maung Maung Win said, followed eventually by incorporated subsidiaries and full branches. The ownership percentage will depend on the new foreign investment bill that has been passed by parliament and is awaiting the president’s approval, he said.

Myanmar has made it easier for its citizens to move money this year, introducing debit cards to pay for local goods and authorising several private banks to accept remittances from migrant workers in Thailand, Malaysia and Singapore. Foreign companies can transfer funds to Myanmar through four state-run banks, and that privilege may soon be extended to private lenders, Maung Maung Win said.

"We try our best with the systems of international organisations and neighbouring countries," he said. "Myanmar will grow because of the new government’s opening-up policy."

http://www.bangkokpost.com/business/news/312728/myanmar-aims-independent-monetary-policy
 

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Liberty, Equality, Frate
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Discussion Starter · #54 ·
Bangkok Bank gearing up for full services in Myanmar

Published: 18/09/2012 at 01:59 AM Newspaper section: Business

NAY PYI TAW, MYANMAR : Bangkok Bank (BBL), the only Thai bank operating in Myanmar, sees a bright future in the country as it continues to undergo dramatic social, economic and political reforms.

Chansak Fuangfu, a director and senior executive vice-president, said BBL has had a representative office in Yangon for 17 years.

Myanmar has yet to allow foreign banks to open full branches in the country, although many expect liberalisation to occur in the coming years.

But that country's central bank is now considering allowing foreign banks to open additional branches and upgrade their licences, giving banks such as BBL an opportunity to expand their service offerings locally.

"BBL is certainly ready to expand our presence, open new branches and offer a full range of financial services," said Mr Chansak.

The Central Bank of Myanmar has already begun allowing foreign banks to establish joint ventures with local investors.

But Mr Chansak said the two banks that have done so to date have failed to succeed in the market, leading authorities to consider issuing foreign bank licences or even allowing banks to open full branches in the country.

"Regardless, we're confident that if we're allowed to open a branch, then we can do so based on our knowledge and operational expertise. We're one of the largest banks in Asean and can help bring our services to the Myanmar people," he said.

Mr Chansak said the bank's lengthy experience in the country and its understanding of the Myanmar people and business practices will facilitate expansion.

BBL, Thailand's largest bank, operates 15 foreign branches, one representative office and two wholly owned subsidiaries in 13 countries.

"The growth opportunities in Myanmar span nearly every sector. The country's development stage is perhaps 40 or 50 years behind Thailand," Mr Chansak said on the sidelines of the Myanmar Global Investment Forum, held last week at the Myanmar International Convention Centre.

Executive vice-president Thanit Sirichote said BBL has business relations with six local banks in Myanmar to facilitate international financial transactions.

It is in talks with three other local banks to form partnerships, he said.

BBL is also assisting in setting up fund transfer and remittance systems.

http://www.bangkokpost.com/business...-bank-gearing-up-for-full-services-in-myanmar
 

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Liberty, Equality, Frate
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Discussion Starter · #55 ·
PTT signs agreement to set up retail oil venture in Myanmar

Published: 1/10/2012 at 02:23 AM Newspaper section: Business

PTT Plc, the national energy conglomerate, is moving forward with plans to establish a retail oil business in Myanmar by working with a local partner.

The move serves PTT's goal to become a regional oil retailer within five years, said Auttapol Rerkpiboon, executive vice-president for communication and international market.

PTT Oil Myanmar Co will be registered to operate businesses in the neighbouring country, pending approval from the company's board of directors. This will be in time for Myanmar to open its retail oil sector to foreign investors.

The Myanmar subsidiary is expected to have registered capital of 500,000 kyat, in line with the regulation of the Myanmar Investment Committee. The business will include oil retailing and wholesaling, depot and logistic operations.

At present, PTT has only a lube oil business through a local distributor in Myanmar and cross-border petrol trade from Thailand. PTT Exploration and Production Plc (PTTEP), Thailand's sole explorer, is already a major investor in the country's upstream petroleum sector.

"Myanmar has very strong potential in the oil retailing business. Demand is expected to grow sharply after the country opens to foreign investors and tourists," said Mr Auttapol.

Currently, oil consumption per head in the neighbouring country is very low at 38 litres annually, compared to 140 litres in Cambodia and Thailand's 700 litres. Each year, Myanmar consumes 2.4 billion litres of oil compares with 44 billion litres in Thailand.

PTT earlier this month signed a memorandum of understanding with Myanmar partner Denko Trading Co to study business opportunities there.

Demco, the local conglomerate, operates 15 petrol stations in Yangon with a land bank of about 60 rai which is expected to be developed into an oil depot.

Mr Auttapol said the feasibility study will take around six months to complete. The group expects to use the PTT brand for developing business in Myanmar.

PTT will aggressively expand its lube oil business in Myanmar with an aim to become the second largest player there. Currently, it ranks third with a 15% market share after Thailand's Trane (30%) and UAE-based Falcon (18%).

The group has already established a presence in Laos and Cambodia with a plan to invest 800 million baht in oil retailing business in the two countries. Petrol stations in Cambodia will be increased to 45 locations from the present 14 and double to 60 stations in Laos through PTT Cambodia Co and PTT Laos Co, respectively.

The company also plans to expand the oil retail and logistics network in the Philippines from the current 45 units but the exact target unit has not yet been finalised, according to Mr Auttapol.

http://www.bangkokpost.com/business...ement-to-set-up-retail-oil-venture-in-myanmar
 

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Liberty, Equality, Frate
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Discussion Starter · #56 ·
AEON expands into Myanmar and Laos

The Nation October 12, 2012 3:39 pm

AEON Thana Sinsap (Thailand) Plc, a non-bank financial institution, is expanding its business into Myanmar and Laos.

In a statement to the Stock Exchange of Thailand today, the company said that the board of directors today approved the establishment of a wholly-owned subsidiary in Myanmar, named AEON Microfinance (Myanmar) Co Ltd, to provide microfinance to small borrowers there. The new unit is capitalised at Bt57.5 million kyat or Bt2.07 million.

In Laos, AEON Leasing Service (Lao) Co Ltd will be established with the paid-up capital of 8 billion kip or Bt30.4 million.

http://www.nationmultimedia.com/business/AEON-expands-into-Myanmar-and-Laos-30192227.html
 

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Discussion Starter · #57 ·
Japan sees Thai pathway to Myanmar


THE NATION October 13, 2012 1:00 am

Japanese investors foresee Thailand as a gateway for expanding into emerging Myanmar, thanks to the development of the Dawei project and border access through the Kingdom.

After meeting with Commerce Minister Boonsong Teriyaphirom yesterday, the vice chairman of the international committee of the Kansai Economic Federation (Kankeiren), Masayuki Matsushita, said Japanese businesspeople were poised to tighten cooperation with Thailand to expedite their investment in Myanmar.

With a border near the Dawei project, in which Thailand is closely involved, the Kingdom could serve as the best springboard for Japanese investment in Myanmar in the near future.

So far, investment plans are unclear because Myanmar needs to develop its infrastructure quickly. But the country is one of the most interesting destinations for Japanese investment in the future, Matsushita said.

Representatives of the federation were in Yangon and Nay Pyi Taw this week to explore investment opportunities. The association comprises the largest traders in Japan.

He said Japanese enterprises foresaw plenty of opportunity to do business with Myanmar as well as stringent cooperation with Thailand to explore the neighbouring country.

While there are opportunities for every industry and for businesses of all sizes, the main interest now is in infrastructure development.

In addition, Matsushita said Japanese investors had seen that the Thai government had made a big effort to promote the industrial recovery after the heavy flooding last year. He pointed out that Japanese investors still had confidence to do businesses in the Kingdom.

Srirat Rastapana, director-general of the International Trade Promotion Department of the Commerce Ministry, said that because of the close relationship between Japan and Thailand, Japanese investors had recognised the Kingdom as a gateway to Myanmar and other Asean nations.

Thailand will cooperate closely with Japan to support trading and investment in Asean, she said.

http://www.nationmultimedia.com/business/Japan-sees-Thai-pathway-to-Myanmar-30192251.html
 

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Thai Investors and Federation of Thai Industries SHOCKED with the new Foreign Investment Law of Burmese government due to the following provisions:

1. Foreign investors are not allowed to set up the factories within 10 miles (16 km) radius from the border other than the designated special zones - need for further discussion since it is going to violate AEC
2. Foreign investors have to employ Burmese technicians 25% in the first 2 year, 50% within 4 years and 75% within 6 years - still shortage of local Burmese technicians
3. Technology Transfers including trade secrets.
4. Foreign investors must be ready to sell the stocks to local Burmese enterprises by the order from Foreign Investment Committee at any time.
5. Foreign investors cannot set up the logistic companies to compete against the local logistic companies.
6. uncleared law on FOREX transactions
7. No connection with Company act and Special Economic Zone act
http://www.prachachat.net/news_detail.php?newsid=1351662859&grpid=10&catid=19&subcatid=1901
 
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