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Discussion Starter · #1 ·
MIC chief invites wider foreign investment

http://mmtimes.com/2012/business/618/biz61802.html

Volume 31, No. 618
March 12 - 18, 2012

MYANMAR wants to attract investment from a wide range of different nations instead of relying on one major source as has been the case in recent years, Myanmar Investment Commission chairman U Soe Thein said last week.

“We would like to invite not just Japan, China or the EU [to invest in Myanmar]. I’m thinking about my country and my people and it’s very important that factories should be green and safe for the environment and [people’s] health,” he said at the meeting with 82 European businesspeople, members of Young Presidents’ Organisation and World Presidents’ Organisation at the Governor’s Residence in Yangon on February 1.

“At this moment it is a little bit difficult but very soon, it will be what you want to have,” said U Soe Thein, who is also Minister for Industry.

The delegations were visiting Myanmar to investigate possible investments in services including hotels and tourism, financing and manufacturing. All the delegates who spoke to The Myanmar Times said the country badly needed to upgrade its telecommunications network.

U Soe Thein said it was “90 percent sure” that some sanctions imposed by Western nations would be eased in coming months, and the government would have the chance build relationships with the West.

“We have to change a lot of things and there are many difficulties to overcome,” he added.

Loi Hein Group chairman Dr Sai Sam Htun, who organised the meeting, said: “Our country has opportunities [to explore] and we invite all countries to invest because our country needs to balance [investment]. We don’t too want to rely on only one country ... We want to open up to the whole world and let it participate in the development of our country.”

Total foreign direct investment (FDI) in Myanmar amounted to about US$40 billion until December, with most expenditures resource-based projects such as mining, power and oil and gas, Myanmar Investment Commission statistics show. The leading investors were China and Thailand.

MIC deputy director general U Aung Naing Oo said at least $4 billion in FDI will enter Myanmar in the 2012-13 year, which begins April 1, based on preliminary enquiries by Japanese and European investors.

“We expect to see investments from Japan as extensions from their operations in Thailand and have seen a lot of trade delegations visiting us,” he said.

U Soe Thein said that Myanmar wanted to attract investment in industries that created jobs, such as agriculture and manufacturing.

“We would like to give top priority to the small- and medium-enterprise sector because it creates jobs. We would also like to bring investment in our agriculture industry because we have a lot of land and believe there is a lot of potential to develop agro-based industry,” he said.

He added that Myanmar’s position between India and China meant it also attracted steady interest from companies from those nations. He said that a lot of Indian businesspeople have recently visited to explore investing in the agriculture industry, particularly in rubber plantations.

He added that tourism is another sector that is attracting interest, particularly with Myanmar hosting the Southeast Asian Games in 2013 and chairing ASEAN in 2014.

U Soe Thein said an updated foreign investment law had been drafted by MIC with assistance from international consultants and would soon be put before the hluttaws.

He added that it was crucial that the law protected investors, the environment and mitigated the risk of adverse social impacts. It must also be accompanied by a financial sector that was transparent, accountable and had auditing mechanisms, he added.
 

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Discussion Starter · #2 ·
SKorea to hold economic cooperation forum in NPT

http://mmtimes.com/2012/business/619/biz61901.html

By Aye Thidar Kyaw
Volume 31, No. 619
March 19 - 25, 2012

SOME of South Korea’s top companies are preparing to make a concerted entry into Myanmar, beginning with a forum jointly organised by the Myanmar Investment Commission, a trade official said.

The Korea Trade-Investment Promotion Agency (Kotra) announced at a press conference at Traders Hotel in Yangon on March 13 that the Myanmar-Korea Economic Cooperation Forum will be held in Nay Pyi Taw on April 6.

Dr Park Chulho, a Kotra commercial attaché, said the forum would be led by South Korea’s Ministry of Knowledge Economy and the Myanmar Investment Commission (MIC), while at least 100 representatives from 85 private companies would also attend.

The companies are active in sectors such as mining, agriculture, energy and electricity production, logistics, hotels and tourism, transport, media and communication, automotive manufacturing and spare parts, construction materials and clothing.

Dr Park said the companies included small- and medium-sized enterprises but also heavyweights such as Samsung Electronics, Korea Gas Cooperation, Korea Express Way Cooperation, SK Telecoms and Hyundai.

“We have been trying to promote business cooperation because Myanmar’s government is reforming economically and politically and [South] Korean businessmen are getting ready to come here,” he said.

He added that Myanmar and South Korea had different strengths and could complement each other. He said that Myanmar has natural resources as gas, copper and nickel, while South Korea has technology, infrastructure and telecommunications.

If the two countries worked together, they could compete with China, India and Thailand, he said.

Dr Park said there was hope that the updated foreign investment law, which went before the lower house of parliament on March 16, would solve a number of uncertainties that were present in the previous law.

“Businessmen have to think about these problems first and South Korean businesspeople to take many risks under the old law. But we’ve heard that a number of procedures have been simplified and the exchange rate will soon be unified” he said.

Dr Park said automotive companies such as SKG had already met Kotra to begin surveying Myanmar’s market, adding that he expected the company to begin looking for a joint venture soon.

Bilateral trade amounted to US$970 million in the 2011 calendar year, with imports – mainly construction materials – worth $660 million and exports valued at about $320 million, he said.

MIC figures show that South Korea’s investment in Myanmar is worth about $2.94 billion, with Daewoo International Cooperation, the operator of the Shwe gas project, the biggest contributor at about $2 billion.
 

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Discussion Starter · #3 ·
Companies lining up to invest in Myanmar, says advisory firm

http://mmtimes.com/2012/business/623/biz62303.html

By Aung Kyi
Volume 32, No. 623
April 16 - 22, 2012

HUNDREDS of foreign companies are seeking investment opportunities in Myanmar across a wide range of sectors, the head of Hong Kong-based Bagan Capital, a Myanmar-focused investment and advisory firm, said recently.

“We see growth in interest from Europe, Japan and eventually the United States over the next few years,” said Jeremy Kloiser Jones, the company’s founder and chief executive officer.

“Although there are already some foreign corporations operating in Myanmar, the overall number has been constrained by economic sanctions. With sanctions having been loosened, and the likelihood of them being removed, the foot is now off the brake,” he added.

ASEAN on April 4 released a statement urging Western nations to lift all sanctions imposed on Myanmar following the end of an annual summit, this year held in the Cambodian capital of Phnom Penh.

“We called for the lifting of all sanctions on Myanmar immediately in order to contribute positively to the democratic process and economic development in that country,” the heads of state said in a statement, promising to help when Myanmar assumes ASEAN’s rotating chairmanship in 2014.

Mr Kloiser Jones said investment interest centred on hotels and tourism, oil and gas, agriculture, light manufacturing and consumer products.

“Economic sanctions are still in force and there is a virtual lack of credit and capital markets but Myanmar has amazing potential, so we are investing and encouraging others to do so,” Mr Kloiser Jones said.

The company’s name is drawn from the nation’s biggest tourist attraction, Bagan where the multitude of pagodas that dot the 40-square-kilometre plain reminded Mr Kloiser Jones of the vast array of investment opportunities that are beginning to unfold across the country.

“We see firms interested in all types of involvement, ranging from the oil and gas industry, which can require the investment of billions of dollars, down to consumer goods companies eager to sell lower priced goods here.

“And with the current influx of foreign tourists, there is a need for more hotels to cater to them,” he said on March 28 on the sidelines of the Myanmar Oil, Gas and Power Summit at Traders Hotel.

US firm GE has already signed an agreement with a local Myanmar distributor to sell its products in Myanmar, despite US sanctions, said Mr Kloiser Jones.

“This demonstrates a confidence that the US will remove, or substantially reduce, sanctions towards Myanmar in the reasonably foreseeable future.”

However, he said that the existing foreign investment law did not cover all the situations in which a foreign company might like to invest in Myanmar, and while that law was being amended, there was little understanding of the rules and how they are applied in practice.

“Of course, the many new [and amended] laws that are being put through parliament represent positive steps. The next few months should bring much positive news in respective of improving the regulatory environment,” he said.

“Foreign investors are generally keen on a stable environment with basic laws that are applied reliably and good dispute resolution mechanisms. Also important is flexibility regarding investment areas and approvals, along with prompt processes,” he said.

Mr Kloiser Jones said the combination of these factors with the country’s natural and human resources offered significant growth potential.

He added that investments in infrastructure, construction and manufacturing should represent the fastest path to creating large numbers of jobs. But Bagan Capital is also promoting investment in education and healthcare, he said.

“Our advice to foreign corporations is that the best investor for Myanmar is the patient investor. This is clearly not a market to try to make a quick buck,” he said.

He added that the firm is working with both foreign and domestic companies and fielded more than 10 queries a week from external firms.

“We provide them with research, strategic advice about market entry, local partner introductions and information on specific investment opportunities,” he said.

“For local companies, Bagan Capital reviews their potential investment projects and advises on what would be attractive to foreign investors, and how to structure deals accordingly,” he said.

The firm’s support team is split between Myanmar and Hong Kong and includes professional legal, specific-industry advisers and administration. The firm is seeking to expand its Yangon team, and is on the lookout for local talent, he said.
 

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BOI Approving Thai investments in Burma as a measure to deal with 300 Baht Daily Wage and AEC which will happen in 2015.

Now, Bangchap Petroleum PCL (producer and trader of petroleum and alternative energy), Thai Summit Group (producer of automobile parts), Mitsui Trading [Thailand] - (Japanese trading firm in Thailand who has experience in handing heavy industry and food) and those food processing companies and textile companies in Thailand are getting the green light to invest in Burma.

Thailand has invested in Burma from 1988 to 2011 at 9.5 Billion US Dollars (400 Billion Baht) which is No. 1 until the Mainland China making even more aggressive movements on investment in Burma.


http://www.prachachat.net/news_detail.php?newsid=1335423246&grpid=00&catid=00
 

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Can anyone share what are the possible passive investments in Myanmar...
1. Real estate - tieing up with developers? Buying land (issue for foreign ownership?)

2. Stock market

3. How do foreign investors bring in money to the country?

Thanks.
 

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Can anyone share what are the possible passive investments in Myanmar...
1. Real estate - tieing up with developers? Buying land (issue for foreign ownership?)

2. Stock market

3. How do foreign investors bring in money to the country?

Thanks.
Energy sector and consumer products will work

It is none of your business to put the hand into that real estate unless you have a deep connections with top brasses and their cronies .

Stock markets - let's wait until it has opened the stock markets and see what they can offer ...

For the case of bringing profits back home, better wait until the FOREX has been stabilized after they have recently floated Kyat to the market rate of 800 Kyats Per US Dollar ...
 

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Now, 5 year tax exempt with 3 year extension approved as a part of investment package
Kyat has become managed floating - with the agent of 17 commercial banks in Burma
However, IMF pointing out that the exchange rate at 815-825 Kyat per US Dollar are 40% too high - the better rate will be 1100-1200 Kyat per Dollars to encourage more exports on industrial products.
http://www.matichon.co.th/news_detail.php?newsid=1336651613&grpid=&catid=06&subcatid=0600


Minimum investment on Industrial section will be at least 500,000 US Dollars while the minimum investment on service sectors will be at least 300000 US Dollars
http://www.thanonline.com/index.php...29-04&catid=88:2009-02-08-11-23-46&Itemid=418
 

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Mudajaya ventures into power plants business in Myanmar
KUALA LUMPUR: Mudajaya Group Bhd is making its foray into the independent power business in Myanmar. Mudajaya said on Wednesday its unit had signed a memorandum of understanding (MoU) with the government of Mandalay and IJM Corp Bhd co-founder Datuk Koon Yew Yin for the proposed IPPs.

Mudaya and Koon plan to set up a special purpose vehicle (SPV) -- wherein it would hold a 70% stake and 30% by Koon - to undertake the projecty.
Read more
 

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Discussion Starter · #9 ·
Austrade office to open in Myanmar

http://www.theaustralian.com.au/new...-open-in-myanmar/story-fn3dxiwe-1226564075636

THE federal government will open an Austrade office in Myanmar (Burma) this year to help Australian companies capitalise on business opportunities in the newly-emerging southeast Asian nation.

The Austrade office in Yangon (Rangoon), the country's commercial capital, will eventually be staffed by a trade commissioner and locally-sourced business development managers.

It's the latest step by the government to renew ties with Myanmar as the nation moves slowly toward democracy after decades of military rule and international isolation.

Last year, Labor lifted travel and financial sanctions against Myanmar in response to political reforms in the country.

The Austrade office is the result of this new commercial relationship, and will assist Australian companies looking to secure a stake in Myanmar's attractive but challenging markets.

Myanmar, formerly Burma, is southeast Asia's largest mainland nation. It's economy is forecast to grow around six per cent in 2013 and boasts significant investment opportunities, from natural resources like oil and gas and a growing population.

"This is another step in the Government's commitment to expand Australia's diplomatic and commercial footprint in Asia," trade minister Craig Emerson said in a statement on Tuesday.

"This new office will support Australia's businesses in education and training, financial services, telecommunications, infrastructure, mining and tourism."
 

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Discussion Starter · #10 ·
Investment in Myanmar reaches over 42 billion dollar

http://www.elevenmyanmar.com/business/2892-investment-in-myanmar-reaches-over-42-billion-dollar

Oil and natural gas continue to be the preferred choice of foreign direct investment, followed by manufacturing and public services sectors.

Major investors include Japan, Singapore, China, Britain and Vietnam.

Out of the US$253 million invested from these countries, bout US$190 million accounted for the oil and natural gas sectors. Singapore alson has invested over 49 million dollar in manufacturing.

Most of the foreign directed investments are directed in extracting natural resources and strong drinks while investments for manufacture are relatively low.

Critics say that investing in manufacturing and technology will yield more profit for the country.

Foreign Directed Investments (FDI) (28. Feb. 2013)

Extended Sectors

Categories Amount (US Dollar - Million)

1. Oil and Natural Gas 14372.272
2. Manufacturing 2138.325
3. Other Services 38.452

253.41 million dollar increased compared to January 2013.
 

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Discussion Starter · #11 ·
UK firms increase investment in Myanmar

http://www.elevenmyanmar.com/business/2912-uk-firms-increase-investment-in-myanmar

UK investment in Myanmar’s oil and gas industry reached a cumulate US$330 million last month after companies based in the United Kingdom invested another $200 million in the industry, according to the Directorate of Investment and Company Administration.




This is the third time UK companies have invested in the industry since the civilian government took office three years ago. Nearly all UK investments in Myanmar are in the oil and gas industry.

A total of 554 firms from 32 foreign countries have invested in Myanmar, with total investment reaching $42 billion as of the end of February.

China is the largest investor, accounting for 34 percent of the total, or $14.18 billion. Most of its investments are in power, mining and oil and gas sectors.

The UK is fifth with total investments made from 1988 to 2013 at $2.99 billion.
 

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Burmese Businessmen in Myanmar Tourist Business Association opposing the government policy to allow joint venture investment business with foreign investors on tourist business

The foreign direct investment on Hotel is 1.417 billion Dollars - Singaporean investors get the biggest share at 598 million Dollars while Thailand is second at 236 million Dollars, Japanese is the third at 183 million Dollars and Hongkong is the forth at 77 million Dollars

http://www.manager.co.th/IndoChina/ViewNews.aspx?NewsID=9560000043528
 

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Discussion Starter · #13 ·
Foreign investment to Myanmar up $810m in first quarter

http://elevenmyanmar.com/business/2999-foreign-investment-to-myanmar-up-810m-in-first-quarter

In the first quarter of 2013 Myanmar has received a total of US$810 million in foreign investment from 11 countries, according to Dr Khin San Yi, Deputy Minister for National Planning and Economic Development.

Investors from the United Kingdom, Canada, Australia, Thailand, Vietnam, Korea, Brunei, Malaysia, Singapore, China and India made a range of investments in Myanmar between April 1 and July 31, 2013.

The majority of investments were made in the manufacturing and tourism sectors. About $570 million was invested in 13 new manufacturing businesses, said Dr Khin San Yi at a parliamentary session on August 5.

Meanwhile, $221 million went to the hotels and tourism industry that saw one new business during the period. Other foreign investments include those in agriculture, farming and service sectors.

The statistical figure of total foreign investments in Myanmar until end of June 2013 was $43 billion. However, the actual figure is only $33 billion, Dr Khin San Yi explained.

She attributed the $10 billion difference to the two facts - some companies have withdrawn after their business approval expired, and some do not make full investments according to their claim at the time of application for investment approval.

According to official statistics, over 88 percent of total foreign investment goes to Myanmar’s oil, gas and mining sectors.

Members of parliament called on the investment commission to focus on raising investments in agriculture and farming. They pointed out the country’s agricultural economy is directly related to peoples livelihoods.

They also called for concrete rules and regulations on the cigarette and alcohol companies, as the investment commission has recently approved many new entrants to the market while there is lack of strong mechanism to regulate such products.
 

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Discussion Starter · #14 ·
Foreign investment reaches US$ 38 million in Myanmar’s construction sector

http://elevenmyanmar.com/business/3...s-38-million-in-myanmar-s-construction-sector



Sule Pagoda Road in Yangon where international construction companies are keen to invest (Photo:EMG)

The amount of foreign investment in Myanmar’s construction sector has reached nearly US$ 38 million as of end of June 2013, according to a report of Directorate of Investment and Companies Administration.

"Myanmar engineers are now carrying out technical cooperation with foreigners on construction sites in Yangon. They have appointed foreign experts as technical advisors. We have already chosen a South Korean engineer in our construction site," said Thar Htay, Chairman of Myanmar Construction Entrepreneurs Association.

Foreign countries are now eyeing to invest in Myanmar's construction sectors as the country embarks on an economic reform process. Myanmar will soon sign an agreement with Japan and Vietnam to carry out technical cooperation in the aim to create job opportunities in engineering and construction.

China, Thailand, Hong Kong and South Korea are also investing in Myanmar’s much needed infrastructure and construction projects.

"The international community is interested in Myanmar because there are many good opportunities. Foreign techniques are being used in the constructions of Ayeyarwon and Yandana low cost housing projects. The foreign firms are going to cooperate with local constructors in further of high-rise projects," Thar Htay added.
 

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Discussion Starter · #15 ·
France DesJoyaux to penetrate Myanmar market

A swimming pool built by DesJoyaux in Yangon (Photo - DesJoyaux.eu)



France-based DesJoyaux Company will start making investment in Myanmar, according to K Link Co. Ltd. which is cooperating with the French company.

DesJoyaux has used advanced technologies such as Pipe less Filtration System not to give room for pumping system and water filter. Its technology can construct a pool within ten days.

The company uses reinforced liner system which can prevent algae near swimming pools and porcelain wares. It gives guarantee to the system for ten years and to the structure of the pool for five years.

The world famous swimming pool company, DesJoyaux is planning to open a showroom in Myanmar and now the K Link Co. Ltd. is assisting construction of swimming pools.
 

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Discussion Starter · #16 ·
Foreign investment rate increases fivefold in wake of new law

http://elevenmyanmar.com/business/3385-foreign-investment-rate-increases-fivefold-in-wake-of-new-law

Myanmar Global Investment Forum



Since Myanmar passed the new Foreign Investment Law in November 2012, the rate of foreign investment flowing into the country has increased fivefold, according to the Directorate of Investment and Company Administration (DICA).

“In the past, the total foreign investment [for one year] in Myanmar used to be only around US$200 million. This year, it reached $1.4 billion in the first five months,” DICA Director General Aung Naing Oo told the Myanmar Global Investment Forum on September 10.

“If our forecasts are not wrong, foreign investment will hit $3 billion by the end of this year,” he said, adding that the increase is a direct result of Myanmar’s economic reforms.

Total foreign investment in Myanmar has now reached over $43 billion, according to the government’s figures. In August alone, it received $731 million in foreign investment.

“Back in 2011, only one or two groups of foreign businessmen visited us each month [to discuss possible investments in Myanmar]. Now, about six to seven groups visit us every day. Most come from Japan,” Aung Naing Oo remarked.

During the forum, the officials and businessmen discussed Myanmar’s economic development and future investment opportunities. They also discussed the bottlenecks that investors face in Myanmar.

Serge Pun, chairperson of the Myanmar conglomerate Serge Pun & Associates, said there are unnecessary delays setting up companies in Myanmar because the owners need to meet with the head of the Myanmar Investment Commission (MIC) as part of the procedure.

However, Aung Naing Oo countered that this requirement applies only to large businesses, which account for less than five percent of the total investors. He said that the MIC takes only one month to six weeks to process approval for the companies.
 

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Discussion Starter · #17 ·
Myanmar’s foreign investment hits US$43 billion

http://elevenmyanmar.com/business/3386-myanmar-s-foreign-investment-hits-us-43-billion

Lapataungdaung copper mine project (Photo-Hein Min Htet)



Total foreign investment in Myanmar hit US$43 billion in August, according to Myanmar Investment Commission (MIC).

Over 600 foreign businesses invested a total of $43.68 billion in twelve sectors as of August 31, MIC reported.

“Myanmar has foreign investments from 32 countries in four major sectors: energy, oil and gas, mining, and manufacturing,” said an official from MIC.

China is the biggest investor in Myanmar, followed by Thailand, Hong Kong, South Korea, Britain, Singapore, Malaysia, France, Vietnam, and India.

Thailand is the largest importer from Myanmar. As much as 41 percent of Myanmar’s total exports went to Thailand last year, while 15 percent went to India, 14 percent to China, seven percent to Japan, four percent to South Korea, two percent to Malaysia, and one percent each to Singapore and Bangladesh, respectively.

Myanmar imported mainly from China, as usual, in 2012. A total of 37 percent of Myanmar’s imports came from China, while 20 percent came from Thailand, nine percent each came from Singapore and South Korea, eight percent from Japan, four percent from Malaysia, three percent each from India and Germany, one percent from Vietnam, and five percent from other countries.

The International Monetary Fund expects the GDP (gross domestic product) of Myanmar to increase to 5.5 percent in 2013 and 6.2 percent in 2014. The consumer price inflation is also forecast to increase to 7.3 percent in 2013 and 6.6 percent in 2014, respectively.

Myanmar’s total trade volume in 2012 was $25.16 billion. The trade deficit reached $5.76 billion because total exports stood at $9.69 billion and total imports were $15.46 billion.
 

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Discussion Starter · #18 ·
World’s largest food company enters Myanmar

http://elevenmyanmar.com/business/3445-world-s-largest-food-company-enters-myanmar

Switzerland-based Nestle, the largest food company in the world in terms of revenues, will soon build a factory and manufacture its products in Myanmar according to DICA.

Nestle Myanmar Co Ltd was formed upon the permission of the Directorate of Investment and Company Administration (DICA) on September 16.

Nestlé’s products include baby food, drinking water, cereals, coffee, confectionery, dairy products, ice cream, pet food and snacks. Twenty-nine of Nestlé’s brands—including Nescafe, Kit Kat, and Maggi—have annual sales of over one billion Swiss francs (about US$1.1 billion).

Nestlé, which has its headquarters in Vevey, Switzerland, operates about 450 factories in 86 countries, with nearly 328,000 staff. It is one of the main shareholders of L’Oreal, the world’s largest cosmetic company.

The well-known food and beverages companies such as Coca Cola, Pepsi, and Unilever have already built factories in Myanmar. Others, such as Heineken, Carlsberg, Beer Chang, and Pokka are beginning construction of their factories here.
 

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Discussion Starter · #19 ·
Acer Inc to open representative office in Yangon

http://www.elevenmyanmar.com/business/3547-acer-inc-to-open-representative-office-in-yangon

Acer Inc, a leading Taiwanese multinational hardware and electronics corporation, will soon set up a representative office in Yangon, sources say.

The Directorate of Investment and Company Administration (DICA) on Wednesday approved temporary registration for Acer Computer Co Ltd, a Thailand-based subsidiary of Acer Inc, to operate its Southeast Asian activities.

Acer’s products are already distributed in Myanmar by Shwe La Min Nagar Company, its authorized distributor.

Acer Inc has its headquarters in New Taipei, Taiwan. Established in 1976, it operates in Vietnam, Cambodia, Laos, Myanmar and Thailand. Acer produces inexpensive desktop and laptop PCs, tablet computers, servers, storage devices, displays, smart phones and peripherals. It also provides e-business services to businesses, governments and consumers.

In 2012, Acer was the fourth largest personal computer vendor in the world. According to 2011 statistics, it had total sales of more than US $16 billion (about Ks 16 trillion) and its net income was more than $225 million.

Acer has 16 manufacturing plants and 21 assembling plants in 21 countries. It has already opened nearly 120 representative offices in 37 countries. It is a market leader in 13 countries and one of the top five market leaders in 30 countries, according to company sources. In addition to its core business, Acer also owns the largest franchised computer retail chain in Taipei.

In the early 2000s, Acer implemented a new business model, shifting from manufacturing to design and distribution of products, while performing production processes via contract manufacturers.

Acer America Corporation, Acer Computer Australia, and Acer India are subsidiaries of Acer Inc.
 

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Discussion Starter · #20 ·
Rexam PLC plans to establish factory in Myanmar

http://www.elevenmyanmar.com/business/3525-rexam-plc-plans-to-establish-factory-in-myanmar

Rexam PLC, one of the world's top consumer packing companies, is planning to establish a factory in Yangon, according company sources.

The company has founded Rexam Ashmore Beverage Can Myanmar Co. Ltd after making a joint venture with UK-based Ashmore Investment Company to operate in Myanmar.

The Directorate of Investment and Companies Administration has allowed temporary registration to Rexam PLC and provided the company’s establishment permit on September 20.

Rexam PLC is a British multinational consumer packaging company headquartered in London, United Kingdom. It is the largest manufacturer of beverage cans in the world and a leading producer of rigid plastic packaging.

It has around 70 plants in 25 countries across Asia, Europe, North America and South America, according to Wikipedia.

The company was founded in 1923 and has an operating income of £4.3 million in last year and a net income of £214 million.

The Rexam Ashmore Beverage Can Myanmar Co. Ltd is now registered to operate after building the factory.

Coca Cola and Pepsi have already built the factories in Myanmar and other international consumer and beverage companies like Heineken, Carlsberg, Beer Chang, Pokka and F&N are also planning to establish factories in Myanmar.
 
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