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The New Yangon Development Co., Ltd (NYDC) invited local and foreign investors to participate in Yangon’s new satellite townships project
The New Yangon Development Co. Ltd (NYDC) has invited third parties — local and foreign entrepreneurs — to invest in the urban city extension project with new satellite townships. The project is expected to create massive job opportunities for some 2 million people. NYDC invited investments to facilitate infrastructure development through public-private partnerships at the launch event of the NYDC at Lotte Hotel, Yangon, last Saturday. Officials from the Yangon Region government and several enthusiastic local and foreign investors attended the event. NYDC is wholly owned by the Yangon Region government. The implementation of phase 1 includes core and social infrastructure projects, which are slated to be completed by 2020. In the first phase, some 1,500 square kilometres on the west side of Yangon river will be developed to build five townships, two bridges, a 26km-long arterial road, 10 square kilometres of industrial zone, electric power generation factory and facilities, and water treatment plants, said Serge Pun, CEO and Vice Chair of NYDC. -
Myanmar Licensed Contractors Association
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The local agri-processing company, Lluvia and Japan based Kamigumi jointly established the international Bulk Terminal Co., to develop and operate a greenfield bulk terminal in Thilawa
A bulk terminal is in the pipeline near Thilawa Special Economic Zone in southern Yangon. The US$65 million project is partly funded by the International Finance Corporation and will be among the first providers of bulk cargo handling for the country. Lluvia, a domestic agri-processing company, and Japan-based Kamigumi jointly established the International Bulk Terminal (Thilawa) Co, which will develop and operate a greenfield bulk terminal located at Thilawa. The estimated project cost is $65 million, while the IFC said on March 27 that it is providing long-term financing of $15 million to the venture. The bulk terminal will be one of the first bulk terminals for the country, with a capacity of more than one million metric tonnes. It will lower transport and logistics costs and improve the competitiveness of Myanmar’s supply chains by making it cheaper and more efficient to transport goods. In the near future, the port will be able to facilitate trade flows of wheat, animal feed and rice as well as other non-agricultural commodities. The current lack of specialised and efficient bulk facilities forces producers and traders to containerise bulk commodities, which involves high handling costs, the IFC argued. -
Ministry of Construction invited the tenders for the new Bago river bridge connecting the area with Yangon, which will be a major development for Thilawa Special Economic Zone (SEZ)
The new Bago River bridge will become operational in 2021. INVESTORS in Thilawa Special Economic Zone (SEZ) and Thanlyin residents now see the light at the end of the long tunnel, as a new bridge connecting the area with Yangon is scheduled to complete within four years. The new Bago River bridge, expected to become operational in 2021, will be built next to the existing Thanlyin bridge, connecting Thaketa and Thanlyin townships. With four lanes in total (two lanes each way), it will be a steel cable-stayed, PC box girder and steel box girder bridge. The Ministry of Construction will decide whether there will be any toll road charges. It has invited tenders for the project. Construction of the bridge will be financed by JICA loan reserved for the Myanmar government. The loan amount involves about 31 billion Japan yen, with a 10-year grace period and repayment period of 40 years at an interest rate of 0.01 percent per annum. -
PTTEP confirmed its commitment to the development and growth of Myanmar’s oil and gas industry at the Offshore Technology Conference Asia 2018, which was held in Kuala Lumpur, Malaysia on 23 March 2018
PTTEP reaffirmed its commitment to the development and growth of Myanmar’s oil and gas industry at the Offshore Technology Conference Asia 2018 this week. Despite the exploration and development challenges in Myanmar’s oil and gas sector, opportunities for successful discovery and production can be captured with the effective use of innovation and people, said Mr. Piya Sukumpanumet, General Manager of PTTEP Myanmar Asset, at the Offshore Technology Conference (OTC) Asia 2018 held in Kuala Lumpur, Malaysia on 23 March 2018. “We know there are gases in the Gulf of Mottama but the challenge is in identifying economic and efficient methods to develop the gas. In this respect, technology is a key focus for PTTEP,” he said. “Analysis of our long-term experience operating across various geographical locations indicates that significant improvements in exploration and development efficiency can be achieved when we have a mix of the right people and technology.” -
Government will invite local and international investors to build infrastructure for China- Myanmar Economic corridor project (Directorate of Investment and Companies Administration – DICA)
YANGON- Government will be inviting local and international investors aiming to build basic infrastructures such as industrial zones, urban development projects and agricultural zones which are being included in China-Myanmar Economic Corridor project, says Directorate of Investment and Companies Administration (DICA). China is implementing the One Belt, One Road Initiative. Moreover, economic corridor project also includes in the Initiative. “In conclusion, China plans to build economic corridor starting from Myanmar border area to commercial hub of Yangon. Concerning this project, urban development, IT sector, agricultural and industrial zones will emerge. And then, border trade and tourism industry will be blooming. We have a plan to implement China-Myanmar economic corridor which is under One Belt, One Road Initiative. Myanmar delegation led by the Union Minister went to China last month. But, we didn’t reach the stage of signing. The project will be implemented after holding a discussion with both sides’ leaders,” said Aung Naing Oo, Director-General of the DICA. He continued that the project would bring the more results in conjunction with the emergence of railroads, motor roads and jetties. Not only China but also Myanmar citizens would be participating in the economic platform project. -
Myanmar Rice Federation (MRF) suggested a new agricultural loan scheme to farmers who own more than 10 acres of land to the government
Myanmar Rice Federation has submitted a loan scheme for farmers who own more than 10 acres of land to the government as Myanmar Agricultural Development Bank grants loans only to farmers who have less than 10 acres of land. The new agricultural loan scheme contains the systematic preparation for loan-taking of farmers by putting Form-7 up as collateral and the rapid availability of loans by farmers for loans like JICA’s long-term loan. Farmers are rural SMEs. They are in urgent need of aid as they are creating jobs for landless farm workers in the rural areas. The MRF has suggested that the government should give the priority to them. In the past, the government granted an agricultural loan of Ks 100,000 each to farmers. Since taking office in April and May, the incumbent government has increased the agricultural loan to Ks 150,000. -
Rapid reduction of deposit interest rate from 8 to 5 per cent may destabilize the banking system and hinder banks in granting loans (U Than Nyein, Former Governor of the Central Bank of Myanmar)
The rapid reduction of deposit interest rate from 8 to 5 per cent is dangerous, said Than Nyein, former governor of the Central Bank of Myanmar. “Entrepreneurs want the government to reduce the bank interest rate due to weak competitiveness. It may have an impact on the banking system when customers withdraw half of their deposits from banks. Even the withdrawal of 25 per cent of deposits by customers may destabilize the banking system. Entrepreneurs want to take low-interest loans. Banks are unable to grant loans when the people no longer deposit their money at banks. It will not be beneficial to both sides,” he added. Entrepreneurs’ desire to reduce the interest rate is right. It is of great importance for the central bank to take account of all points as it is a monetary authority. The fact the vice-governor of the central bank discussed at the parliamentary session is also true. -
Myanmar’s first stock exchange backed by Japan’s public and private sectors will promote local bourse to investors in Tokyo next month
Myanmar’s first stock exchange backed by Japan’s public and private sectors will promote the bourse in Tokyo next month, aiming to lure Japanese investors ahead of the scheduled enforcement of a new company law deregulating foreign ownership of local firms. The planned presentation in Tokyo of the two-year-old Yangon Stock Exchange, or YSX, is part of an investment seminar to be organized on April 18 by Daiwa Securities Co., which established the bourse’s operator with the state-owned Myanma Economic Bank and Japan Exchange Group Inc., according to the Tokyo-based brokerage. Four more companies in Myanmar are preparing to debut on the YSX within this year, bringing the total number to nine, Masaharu Harada, director on the YSX board, said Sunday at an event marking the second anniversary of the bourse in the country’s commercial capital of Yangon. With technical support from the Japan International Cooperation Agency, Tokyo’s development aid arm, the YSX is planning to form a special task force with law and accounting firms and brokerages to assist local companies in going public, Harada said. -
Ministry of Electricity and Energy (MOEE) aims to distribute liquefied petroleum gas (LPG) to a million households by 2020 (U Win Khine, Minister of MOEE)
The Ministry of Electricity and Energy (MOEE) is aiming to supply liquefied petroleum gas (LPG) to one million households by 2020, U Win Khine, Minister of the MOEE said at a meeting with companies involved in the import, storage, distribution and marketing of LPG last week. LPG can replace the use of electricity as a fuel for household cooking, which will help to conserve power as well as the environment. This will be beneficial to residents in rural areas, who do not have access to electricity, the minister said. After distributing LPG to 150,000 households in 2017, the next step is to reach a million more by 2020. “The government and private sector will work together to expand the LPG industry in Myanmar so that it is able to supply the quantities needed,” U Win Khine said. Last December, Parami Energy Services Company won a K6.5 billion government tender involving the lease of a jetty, terminal and storage facility at the Thanlyin refinery in Yangon Region, for the purpose of importing, storing and distributing LPG in Myanmar.
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