Weekly Business News from Myanmar

Thai investors eye in making comprehensive tourism investment in Tanintharyi Region
Thai investors have shown interest in making comprehensive tourism investment in Kawthaung and Myeik archipelago, Tanintharyi Region, according to U Thant Sin Lwin, Deputy Director of the Directorate of Investment and Company Administration (DICA). “There are email inquiries asking how many islands and roads are in the archipelago,” said the official. “They also want to know what types of plane can land there, what businesses should be implemented there, and if there is a hospital.” Investors are interested in providing sightseeing flights over the archipelago and plan to visit Myanmar to talk about investment potential. In the first week of December, they sent further inquiries. “The investors want to pursue comprehensive tourism development including speed boats, planes and yachts. This will be a mega project,” said U Thant Sin Lwin.
Aung Myin Hmu project is helping in the development of garment sector in Myanmar
Either we go to various regions and states of Myanmar or we come to Yangon from other parts of the country, industrial zones are a common sight on the outskirts of Yangon. Once these places grew under the influence of quietness, but nowadays they come alive with industrial images. With a total of 29 industrial zones located on the outskirts of Yangon, nearby streets are swarming with factory workers during the rush hours. Garment is the largest among the industries in Yangon. There are 389 CMP and CMP related factories in Myanmar until November in 2019. There are 338 garment factories with 214,895 workers employed.
Chinese and Norwegian investors expressed their interest to invest in power-generation projects in Chin State
Chin State government officials say that they have expressions of interest from foreign investors to invest in power-generation projects in the state. This was revealed to The Myanmar Times by Chin State Minister of Development, Electricity and Industry U Soe Htet. The state is among the least developed in the country and is also the recipient of the least foreign and domestic investment. Only 27 percent of the state has electricity as of December 2019, compared with the overall electrification rate of 50pc in the country. Of the total of nine large townships in Chin, just five are linked to the national grid.
Rice growers in Myanmar are increasingly concerned the amount of water in the country available for irrigation of their crops
Myanmar’s rice growers are increasingly concerned about the amount of water in the country available for the irrigation of their crops, industry insiders say. And their worries are not exactly without foundation. U Myo Tint Tun, assistant secretary at the Ministry of Agriculture, Livestock and Irrigation recently said: “A reduction in water available for crop irrigation is likely. Right now, the rainfall the country receives has been lower than in previous rainy seasons. Water flowing into the county’s dams has been fluctuating over the recent years and the amount cannot be estimated accurately. What is definitely known is that the country has to be more effective in saving water.” Rice is one of Myanmar’s major exports, and if shortages of irrigation water occur it would negatively impact a revenue source for the country.
Japan – Myanmar Aung San Vocational Training Institute (JMASVTI) was opened in Singu Ward, Insein Township
YANGON- The opening ceremony of the Japan-Myanmar Aung San Vocational Training Institute (JMASVTI) was held in conjunction with the stake-driving ceremony at the institute in Singu Ward, Insein Township, Yangon, yesterday morning. The JMASVTI project is funded by the Japanese government and is being built on the grounds of the former technical high school (Aung San) and equipped with necessary apparatuses. The Japan International Cooperation Agency (JICA) had signed an agreement with Myanmar in December 2018 to establish JMASVTI. Present on the occasion were Upper House’s Deputy Speaker Aye Tha Aung, Education Minister Dr Myo Thein Gyi, Yangon Region Chief Minister Phyo Min Thein and his cabinet members, Regional Parliament Speaker Tin Maung Tun, the Japanese Ambassador, appointed officials from JICA and JMASVTI.
Wave Money triples its annual remittance and sees better growth and potential in the mobile financial services (MFS) growth in Myanmar
Wave Money is seeing better growth and potential in the mobile financial services (MFS) space. The mobile financial services (MFS) company reported annual remittance value of K6.4 trillion for its financial year ended December 31, 2019, which is more than triple the amount remitted in the same period last year. The spike came on the back of a doubling in the number of unique customers to 17 million during the period, making it the largest MFS provider in Myanmar, the firm said. Wave Money’s agent network covers 89 percent of Myanmar. At the end of 2019, there were more than 56,000 agents across 294 out of the 330 townships nationwide. In 2019, Wave Money paid out a total of K55 billion (US$37 million) in agent commissions, which is more than double the amount it paid out the year before.
Myanmar government added five more countries to visa-on- arrival list which effective 1 January 2020
Myanmar has eased visa regulations to draw more tourists to the country this year according to Union Minister for Hotels and Tourism U Ohn Maung, TTR Weekly reported. In a statement at the weekend, distributed by the Myanmar Tourism Federation, he noted that effective 1 January the government had introduced visa-on-arrival (VoA) for an additional five countries.
More transparency and responsible business practices will be needed for Chinese investments deals in Myanmar
With Chinese investments in Myanmar expected to rise, more should be done to ensure transparent and responsible business practices between Chinese companies and the Myanmar government, industry watchers said. Chinese investments historically dominated Myanmar’s foreign direct investment landscape. Some projects are government-to-government initiatives while others were won through tenders. Observers say Myanmar should diversify its partners in strategic sectors such as electricity for more sustainable development. Apart from financial matters, Myanmar’s government should take into account security issues,” said Daw Khin Khin Kyaw of the Institute for Strategy and Policy. She said that tenders should be conducted more transparently and not pushed through in a hurry.
Financial authorities made a meeting with small and medium-sized enterprises in Kayin State to discuss granting loans to enterprises
Financial authorities held a meeting with small- and medium-sized enterprises in Kayin State yesterday to discuss granting loans to enterprises. Some 150 businesspersons from Kayin State attended the meeting with the committee on providing financial assistance for private sector development, which was led by Deputy Minister for Planning, Finance and Industry U Maung Maung Win. The local businesspersons requested that authorities relax rules for obtaining SME loans, extend the loan period and coordination from the governmental departments for granting land ownership documents, and decrease interest rates.
Both local and foreign firms are seeking the assistance from Myanmar Competition Commission to dispute settlement over unfair competition
Both local and foreign-owned companies are entitled to seek Myanmar Competition Commission’s help in settling a dispute over unfair competition, U Than Maung, vice president of the commission, said December 27. Formed in 2018 following the enactment of Myanmar Competition Law, the commission has to date settled four disputes out of the 10 put before it. The bylaw for Myanmar Competition Law, approved in 2017, prohibits unfair competition conduct in order to foster a strong competitive market. “The law will treat all companies equal, whether the ownership is local or foreign,” said U Than Muang. “A foreigner is also entitled to seek protection of this law for any damage caused by unfair practices in the market, as ours is a free market. We create a fair and equal playground for both local and foreign players.”