Japan to help boost Myanmar’s rice industry through imports and investments

15 April, 2013
Economy
Japan is helping to boost Myanmar’s quest to regain its status as a top rice exporter by importing long-grain rice. Myanmar Agribusiness Public Corporation Ltd (MAPCO) is entering a joint venture with Japanese trading house Mitsui and will be building four processing plants to produce rice for exports, to manufacture food products and produce power. This will be set up as part of the Integrated Rice Complex Project, which aims to produce 400,000 tons of rice per year.

Foreign Companies in China Seeks ASEAN Alternatives

11 April, 2013
Trade and Investment

Offshore Gas, Oil Bids Open

13 April, 2013
Economy
Major Western oil companies BP, Shell and Chevron are tipped to be among the likely bidders for 30 new offshore exploration blocks now being offered for licensing by Myanmar’s Ministry of Energy. Other large firms expected to make offers include China National Offshore Oil Corporation (CNOOC), Petronas of Malaysia, PTTEP of Thailand and India’s GAIL—all state-owned enterprises. Bidders can apply for up to three blocks, of which 11 are in shallow water and 19 in deep water. Shallow water licenses will require a local partner but the deeper water blocks can be wholly foreign operated due to the technical expertise and cost involved. The closing date for bids to the Ministry of Energy is 14 June. Meanwhile, the government is considering reviewing and perhaps renegotiating existing natural resources deals as it prepares to sign the Extractive Industries Transparency Initiative (EITI), which is a voluntary regime that sets high standards of financial disclosure, governance and environmental criteria.

Myanmar’s test run census goes without hiccup

13 April, 2013
Politics
Myanmar government, with help from the UN Populations Fund (UNFPA), test ran a pilot census last week. The official census – the first in 31 years – will take place in March and April next year, when 100,000 enumerators will visit every household in the country in 12 days. Estimates to the population of the country vary wildly: according to the World Bank, Myanmar’s population is 48 million; the Asian Development Bank says it is 60 million; and the International Monetary Fund lists the population at 64 million.

Chinese Investors Tries Luck in Various ASEAN Countries

10 April, 2013
Trade and Investment

China and Singapore deepen relations

11 April, 2013
Trade and Investment

Trade and investment relations between the two nation states are strong with the developments in relationship integration showing both countries to be an integral trade partner for the other.

Myanmar shortlists 12 bidders for telecom tender

11 April, 2013
Economy
Myanmar has shortlisted 12 companies for the final stage of the telecommunications license tender, eliminating 10 participants. The two licenses up for grabs will have initial terms of 15 years. The short listed companies are:

 

Ernst & Young opens new member firm in Myanmar

10 April, 2013
Economy
Leading professional services organisation Ernst & Young has opened a new member firm in Myanmar. It will provide tax, transaction and other business advisory services to clients that are seeking to invest and grow their business in Myanmar,” a statement said. “Years of under-investment in the country means that it now presents tremendous potential for growth and investment” it said.

Chinese fear burnt hands in Myanmar

8 April, 2013
Economy
Myanmar President Thein Sein tried to assure Chinese President Xi Jinping, during their talks in Hainan Province last week, that Chinese investment is welcome in Myanmar. But Chinese enterprises are worried about their investments’ security in Myanmar, following the suspension of the Myitsone Dam in September 2011, the protests against the Letpadaung copper mine, and protests against the China-Myanmar oil and gas pipeline. Chinese investors have been criticised for resource grabbing and not respecting the environment.