Weekly Business News from Myanmar

Myanmar’s largest restaurant chain, Feel International Group expanded first Myanmar cuisine restaurant in Bangkok to penetrate the international markets
Feel International Group, Myanmar’s largest restaurant chain, has plans to expand and introduce Myanmar cuisine to Thai consumers with the opening of a restaurant in Bangkok. “At present many restaurants are attempting to cater to the needs of tourists from China, however there are eight flights to Bangkok from Yangon every day, and there are tens of thousands of Myanmar citizens working and studying there, so there is a potential market for Myanmar cuisine,” said Feel International operations director Ko Johnny. “This is the very first Myanmar restaurant opened in a foreign capital city. Bangkok is one of the biggest restaurant markets in the world. It offers a wide variety of cuisine, even something as exotic in Asia as Ethiopian. Bangkok is the first step for Myanmar traditional food to penetrate the international marktets,” he said.
First China- Myanmar Border Economic Cooperation Zone will be developed along the Kunlong-Chinshwehaw border area in Shan State
The first ever China-Myanmar Border Economic Cooperation Zone will be developed along the Kunlong-Chinshwehaw border area in Shan state, Xinhua reported quoting state media. Legal process is being pursued to establish the economic zone on 6,000 acres (2,430 hectares) under Myanmar's Investment Law and Special Economic Zone Law, the Chitkyiye Company said.
After signed an agreement with Electricity Supply Enterprise, two Chinese companies, Hunan Electric Power Design Institute Co., Ltd and SEPCO Electric Power Construction Corporation will build 500 kV power grid for Myanmar
Two Chinese companies will build a 500kV power grid for Myanmar. China Energy Engineering Group Hunan Electric Power Design Institute Co., Ltd, will implement the first part of the project, and SEPCO Electric Power Construction Corporation, will implement the second part of the project. Both companies signed an agreement with Electricity Supply Enterprise under the Ministry of Electricity and Energy. Electricity Supply Enterprise, which is responsible for managing power distribution in Myanmar, said that this is to reduce power loss, power over loads, or system breakdown in power distribution. Hydropower plants or other power plants in the northern parts of the country, send power to the central and southern parts, which consume most of the power.
The discussions between Myanmar government and Indian Company are underway to upgrade Thanlyin oil refinery under the G to G system
The government is discussing with an Indian company to conduct a feasibility study for the upgrading of Thanlyin oil refinery under the G to G system, said Nay Lin, a director from the Ministry of Electricity and Energy. "It's G to G. Giving priority to Thanlyin oil refinery, we are discussing with India. The project is still under discussion," said Nay Lin. The information about the upgrade of the oil refinery was revealed during the ministry's monthly press conference held in Nay Pyi Taw on January 17. According to sources from the ministry, discussion is underway with a foreign company to upgrade Thanlyin oil refinery to be able to produce about 10 million metric tons of petrol and diesel yearly.
Despite government suspended the sugar import and re-export, the illegal sugar trading are still continued at the border area of Myawaddy in Kayin State
Illegal sugar trading continues at the border area of Myawady in Kayin State despite the government suspension of sugar import and re-export, an official of a local sugar trade group said. To control the unstable foreign currency exchange rate, the Ministry of Commerce temporarily stopped issuing re-export licenses for sugar and fuel in August. Although sugar re-exports are suspended, there are still illegal imports and a large local stockpile of sugar locally, as there are few buyers in China, U Win Htay, vice president of the Myanmar Sugar and Cane Related Products Association, said.
Thilawa Special Economic Zone (SEZ) received USD $ 1.6 billion investment from 18 countries among Myanmar’s Special Economic Zones
A total of 18 countries with the investment amount of about 1.6 billion USD are investing in Myanmar’s Special Economic Zones. The official from Trade Development Division under the Ministry of Commerce said at a workshop on Implementation of Special Economic Zones on Thursday. Myanmar’s SEZ program is still in its young stage and the country now has one operational SEZ, Thilawa, and it is currently resuming projects to develop SEZs in Dawei and Kyaukphyu. The workshop aims to institute an effective structure to run and regulate SEZs by sharing the experiences of currently operational SEZ.
European Union will reinstate duties on rice from Cambodia and Myanmar after a surge in cheap imports that hurt European producers
The European Commission will reinstate duties on rice from Cambodia and Myanmar after a surge in cheap imports that hurt European producers, the EU's executive arm said Wednesday. Starting Friday, it will apply a duty of 175 euros per tonne of Indica rice in the first year, reducing it to 150 euros per tonne in the second year and 125 euros per tonne in the third year. "An investigation has confirmed a significant increase of imports of Indica rice from Cambodia and Myanmar into the European Union that has caused economic damage to European producers," the Commission said. "The European Commission has therefore decided today to re-introduce import duties that will be steadily reduced over a period of three years," it said in a statement.
Kayah State Investment Committee approved 11 investment proposals which is worth USD $ 3 million and K 12 billion creating 440 jobs for local people
Kayah State Investment Committee has approved 11 investment proposals in total in its meeting held in late December. Since the formation of the committee, Kayah State has received 11 investments with the total investment amount of $3 million and K12 billion creating 440 jobs for local people. These investments include a cinema project, a resort project, an agricultural project, a hotel project, and a mining project. Kayah Investment committee was formed in May 2017 and the investment forum was officially held on May 26th, 2018. The investment forum received 10 initial investment proposals during the first half of the transitional fiscal year, and 1 additional investment in the second half of the transitional fiscal year.
Rakhine Investment Fair will target investments in tourism, fisheries and agriculture sector which will be channeled towards the development of the state
Rakhine State will target investments in tourism, fisheries and agriculture at an investment fair that will be held in February in Ngapali, southern Rakhine, Rakhine State Chief Minister U Nyi Pu told the media in Yangon yesterday. With the aim of drawing funds that will be channelled towards the development of the state, the three-day Rakhine State Investment Fair, will start on February 21. The fair will organised by the state government, with support from the Japanese government. State officials say, in the tourism sector, there are opportunities to invest in hotels and other tour activities in Ngapali Beach, which is in Thandwe Township, as well as in other beaches in Gwa and Kyeintali townships and the Mrauk-U heritage area.
Chairman of Yangon Region Investment Committee met up with Korean Business Entrepreneurs and investors in Myanmar in order to coordinate and share information of investment in Myanmar
Yangon Region Investment Committee met with Korean Business entrepreneurs and investors who are working in the country in Yangon on Wednesday. Chairman of Yangon Region Investment Committee, Chief Minister U Phyo Min Thein met with them not only to learn their difficulties and concerns but also to coordinate and share information of investment in Myanmar. According to Myanmar Investment Commission (MIC), Korea stands sixth on the list of foreign investors with over 4 Billion US$ investment. Korean entrepreneurs and investors have been working in various industries, including oil and gas, construction, manufacturing, service sectors and many more. Korean investors pleased on the current growth but stressed some difficulties and pointed out the needs of improvement for rules and regulations.