Chinese Investors Tries Luck in Various ASEAN Countries

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

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.

• 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.

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:

• 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

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.

Myanmar economy to grow strongly, says ADB

9 April, 2013
Economy
The Asian Development Bank forecasts, in its ASEAN Development Outlook 2013 report released 9 April, that Myanmar’s economy will continue on its recent growth path. GDP growth was stagnant at 5% from 2006 to 2011, but picked up in 2012 to 6.3%, with the growth anticipated to rise to 6.5% and 6.7% in the next two years.

Shan farmers urge gas pipeline project to be moved

8 April, 2013
Politics
The Northern Shan Farmers Committee and other Shan organisations on Friday urged the government to relocate the oil and gas pipeline project that passes through the Northern Shan State because of safety concerns. Farmers have been offered only partial compensation, but one third of the 800-mile Shwe gas pipeline has destroyed around 2,000 acres of farmlands and forests in Shan state due to soil dumping and water blockages.

Ethnic Leaders Meet with Japanese Government

9 April, 2013
Politics
The United Nationalities Federal Council (UNFC) – an alliance of 11 ethnic groups – sent 23 representatives to meet with the Japanese Government to discuss humanitarian assistance to ethnic regions in Myanmar at the invitation of the Nippon Foundation – a Japanese philanthropist organisation that recently pledged US$3 million in aid to Myanmar. 

European parliamentary delegation praises Myanmar’s reforms

9 April, 2013
Foreign Affairs
A delegation from the European Parliament’s sub-committee on Human Rights praised Myanmar for its strenuous efforts to respect and abide by human rights on its visit to Myanmar last week. The delegation also encouraged the government to reform the state Constitution and to enact a media law that guarantees press freedom.

UNDP pledges $150 million to Myanmar

9 April, 2013
Foreign Affairs
Myanmar is set to receive a US$150 million development package under a 3-year action plan from the UN Development Programme after the Country Programme Action Plan was concluded by UN Assistant Secretary-General Ajay Chhibber and the Ministry of National Planning and Economic Development on 8 April 2013.