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.

11 April, 2013
Trade and Investment

• China experiences shrinking workforce and rising wages, partially driven by the ‘one child policy’ and an ageing population
• Foreign investors in China considers moving production bases to Cambodia, and now Cambodia surpasses China in terms of foreign investment per capita
• Coupled with concerns in food safety within China, foreign food processors and agricultural companies are moving to Thailand

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.

13 April, 2013
Politics
Thein Sein dedicated his New Year speech on Sunday to promoting religious unity as the nation remains tense after a wave of rioting last month. Myanmar’s New Year, known as the Thingyan, is a hugely popular celebration in which people throw water at each other to symbolise the washing away of the previous year’s bad deeds.

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.

10 April, 2013
Trade and Investment

• China’s leading railway car manufacturer, China South Locomotive and Rolling Stock Corporation Ltd. (CSR), started the construction of its US$ 131 million ASEAN manufacturing and maintenance centre in Malaysia on Tuesday, and is expected to be ready by 2014
• China Mobile join forces with Vodafone in bidding for Myanmar’s new telecommunications licenses, one of the largest untapped markets in the world
• China’s largest micro-blogging platform and social network, Weibo, launches Weibo Thailand with an initial marketing investment of US$ 344 million
• Industrial and Commercial Bank of China (ICBC) and other Chinese banks adopts aggressive lending policy, encouraging Chinese companies to explore overseas opportunities
• Myanmar President U Thein Sein welcomes Chinese investment in the country
• A 50-man delegation of top Chinese business executives visits Philippines to explore investment opportunities

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.

• Capital market ties between Singapore and China were strengthened in depth with the Singapore Exchange (SGX) announcing an agreement to work with the China Financials Futures Exchange, as well as revealing plans to list renminbi-denominated equities on the SGX later this year
• Recently, the Industrial and Commercial Banking Corporation (ICBC) branch in Singapore opened a renminbi-clearing facility, making Singapore the first country in the world outside of greater China to have that facility
• Investment ties are further strengthened by the significant S$135.5 million (US$109.3 million) investment that China Vanke, China’s largest residential developer, is making to acquire a 30% stake in a residential development project in Singapore.

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:

• Consortium comprising China Mobile and Vodafone,
• Consortium led by Singapore Telecommunications
• Consortium led by India’s Bharti Airtel
• Consortium led by MTN Dubai
• Consortium led by Jamaica’s Digicel Group
• Consortium led by Japan’s KDDI Corp.
• Consortium led by Japan’s SumitomoCorp.
• Malaysia’s Axiata Group
• Norway’s Telenor ASA
• Millicom International Cellular SA,
• Qatar Telecom QSC
• Vietnam’s Viettel Group

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.

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.