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ATM makers race for market share in Myanmar, which has the lowest ATMs per million population ratio of 33 among ASEAN member states
Global automated teller machine (ATM) makers are locked in a race for market share in Myanmar, where more than 90 percent of the population remains unbanked. US-listed NCR Corporation is one, while Diebold Nixdorf, a recent merger between US-based Diebold and Germany’s Windcor Nixdorf, is another. With less than 2,000 ATMs installed in the country, Myanmar has the lowest ATMs per million population ratio of 33 among all ASEAN countries. In contrast, Thailand had the highest ratio of well above 900. The two companies are also going neck-to-neck in Myanmar at a time when the local banks are targeting expansion and financial inclusion. As such, many also want ATMs that will not only help them raise the number of bank account holders, but also reduce costs. -
To attract more foreign direct investment to the three special economic zones, Civil Society Organizations (CSOs) recommended to review and monitor the progress of SEZs
As Myanmar pushes to attract more foreign direct investment through its three special economic zones, civil society organisations have reiterated their recommendation to review and monitor the progress of the SEZs. Charlie Thame, a researcher at Thammasat University’s faculty of political science, wrote a year long report entitled “SEZs and value extraction from the Mekong”. He said at the report launch that the SEZs had been developed with limited transparency and locals had been displaced without proper consultation and adequate redress. “International standards regarding land, labour rights and environmental protection officially apply to SEZs but they have not been effectively implemented,” he said. -
Myanmar- Japan CCI Business Cooperation Committees held 13th joint meeting in Yangon to increase trade and business cooperation between the two countries
Myanmar-Japan CCI Business Cooperation Committees was held its 13th joint meeting in Yangon on Monday, with the attendance of Union Minister for Planning and Finance U Kyaw Win. The meeting is intended to increase the trade and business cooperation between Myanmar and Japan by solving challenges and difficulties. As the Japanese Investment in Myanmar is still weak, the meeting hopes to raise it up, the UMFCCI Vice Chairman pointed out. At present, most of the Japanese investments are in manufacturing sector. Vice Chairman, UMFCCI, Dr. Maung Maung Lay said “The difficulties and challenges are solved at the meeting. As the engagement between us is still weak, the Japanese investment is less especially compared with the neighboring countries.” -
The One Belt One Road (OBOR) is an important catalyst to improve logistics connectivity and trade between West and East, which could do with more local participation
Andre Wheeler is CEO of Asia Pacific Connex, with more than 25 years’ experience in international business. He is currently working towards his doctorate on the Impact of China's Belt and Road initiative on infrastructure and logistics in the ASEAN region. In the following commentary, he examines the latest developments for the One Belt One Road and Myanmar’s expected role in this project: My recent trip to attend a summit and meetings on the One Belt One Road (OBOR) brought to mind the importance and role that Myanmar has to play. These thoughts were confirmed when the Chief Executive of Hong Kong travelled to Yangon immediately following the summit. Although many of the delegates and presenters could not pronounce or spell Kyauk Phyu, the location was referred to on many occasions. -
Herman Van Rompuy spoke out against nationalism and discrimination during a reception in Mandalay
SPEAKING in Myanmar’s second largest city, European officials spoke out against nationalism and discrimination in an audience consisting of the region’s elected officials, businesses and foreign investors. Herman Van Rompuy, former European Council President and former Belgian Prime Minister, gave his speech about the EU and the idea of peace, democracy and prosperity during a reception hosted by the European Chamber of Commerce Myanmar (EuroCham) on October 21 in Mandalay. During a sideline interview, The Myanmar Times caught up with EU ambassador Kristian Schmidt and David Levrat, EuroCham chair. Mr Levrat hailed Mandalay as the country’s northern economic powerhouse. “It shows the great and growing interest European companies have for Myanmar and Mandalay in particular. Mandalay is the centre for economic activities in upper Myanmar,” he said, naming construction, health and energy as some of the major sectors of interest for European investors. -
SMEs are still struggling to complete amidst old and new challenges, which include confusing government policies
Small and medium enterprises (SMEs) are still struggling to compete and expand five years after U Thein Sein’s former government established a central committee to support the sector and after the Central Bank of Myanmar recently permitted banks to approve loans without collaterals. On top of limited access to capital, insufficient supporting infrastructure, high taxes and the proliferation of illegal products, new challenges like lack of regulations in the digital economy are also emerging for SMEs. But the most frustrating issue is the government’s ever-changing policies and its inability to make those changes clear both to the business community as well as its own staff, businesses said during discussions at a two-day SME conference in Nay Pyi Taw on October 14-15. -
Coffee cultivators from Ywar Ngan plan to export at least 50 tonnes of coffee beans in the upcoming coffee season
Coffee cultivators from Ywar Ngan township in Shan State are hoping to export at least 50 tonnes of coffee beans in the upcoming coffee season, said U Win Aung Kyaw, vice chair of Myanmar Coffee Association. Due to the weather condition being favorable for coffee plants, there appears to be an increase in production this season, he said. “Out of the 120 villages in Ywar Ngan, at least 80 villages are planting coffee over some 7,600 acres of plantation area. Many coffee growers plant as much as they can on two or three acres. During coffee season, they gather the crops to export overseas. This season, they’re hoping to export at least 50 tonnes and above,” U Win Aung Kyaw told The Myanmar Times on October 21. \Last year, local growers in Ywar Ngan produced around 70 tonnes of coffee. Of this, 36 tonnes of special-grade coffee beans were exported to the US at a price of more than $7000 per tonne. Meanwhile, 18 tonnes of premium beans were exported to Switzerland at around $4000 per tonne. The remaining coffee was consumed locally. -
Share value in Yangon's stock market dropped due to expansion of facilities, prompting the need to boost the stagnant stock market
Trade volume on Yangon’s Stock Ex¬change (YSX) has slowed to K1.8 billion in September; 0.5% less than in August. Trade peaked in March at K3 billion and has since slowed. Each month af¬ter that, volume hovers around an average of only K1 billion. Confidence in the stock market typically sees a seasonal boost with the ending of monsoon sea¬son. Share volume for Myanmar Thilawa SEZ Holdings Public Limited (MTSH), and First Myan¬mar Investment Co., Ltd (FMI) nearly doubled in August, reaching K2.3 bil¬lion; K1 billion more than in July. However, Sep¬tember saw their trade volume slow down. -
Government urged to bolster protection for residents, the workforce and the environment at Myanmar’s special economic zones
YANGON — Civil society groups have called on the government to bolster protections for residents, the workforce and the environment at Myanmar’s special economic zones, warning that the current legal framework for the projects could bring more misery for nearby communities. The comparative study of Cambodian and Myanmar SEZ projects, launched in Yangon on Friday, urged legislative revisions to establish better dispute resolution procedures between investors and local communities, as well as heightening transparency in the governance of the projects. “The first impact of special economic zones faced by communities is the loss of land as well as their livelihoods,” said Dr Kyaw Thu, the executive director of Paung Ku, one of the groups authoring the report. “Democratic governments need to carefully examine the long term impact of big investment projects on peace building, social justice and the federal union.” -
The major project under a research and development program, Ayeyawaddy Integrated River Basin Management (AIRBM) master plan is expected to be released in early 2020
The final draft for the Ayeyawaddy Integrated River Basin Management (AIRBM) project, one of the major projects under a research and development program by the National Water Resources Committee led by vice-president U Henry Van Thio, has been received. A Master Plan is expected to be released in early 2020, said Dr Khin Ni Ni Thein, a director of the AIRBM project. The five-year project commenced last year with aid from a $100 million World Bank loan. Benefits of the project include providing water resource information for inclusive decision- making affecting people living by the river and supporting the development of water-related organisations, laws and procedures. “After project design and calling for tenders, we sent the final draft for implementing the project in November 2016. We can start undertaking basic work for AIRBM before the Master Plan is released. We can use the time before 2020 effectively,” Dr Khin Ni Ni Thein said at a forum on the Ayeyarwady basin in Mandalay on October 17.
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