Myanmar Monitor

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Economy, Investment and Trade

Chin State government is developing two major cities in Chin into industrial zones
(6 July 2018) The Chin State of Myanmar will be developing industrial zones in Hakha and Paletwa, two major cities in Chin State and the state welcomes local and foreign investments. Huge projects that exceed the government’s budget will be proposed to developers via public-private partnership (PPP) system. Yangon Bus Public Company (YBPC) is an example of a PPP project, in which the government invested US$7.15 million (K10 billion) while five private firms spent US$1.76 million (K2.5 million). At the same time, the state government is facing a rising unemployment issue in Chin State and aims to solve this issue by allowing private sector to invest in Chin State and create employment opportunities.
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Australian mineral miner receives licenses to mine gold and copper in Myanmar
(2 July 2018) Myanmar’s Directorate of Investment and Company Administration (DICA) will issue the new Companies Law regulations, namely on electronic registration, capital structures and company constitutions before it takes effect on 1 August 2018. DICA has presented the provisions to the government’s economic committee, and once it is approved, the government investment body will publish the regulations on its website. The Companies Law will replace and incorporate components of the 1914 Companies Act and 1950 Special Companies Act. The new law will ease procedures for foreigners to invest in local companies and ensure business regulation becomes more efficient and effective. According to the government investment body, there are more than 50,000 local companies and 7,000 foreign companies currently registered in Myanmar.
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The government allows exports from private raw timber producers
(9 July 2018) The government recently permitted the exportation of raw timber manufactured from private forest plantations in Myanmar. Since April 2014, Myanmar’s Resources and Environmental Conservation Ministry suspended the exportation of raw wood produced from natural forests. Although the development allows exports from private raw timber producers, firms must follow the official procedures to gain permission to export. Out of a total of 1.4 million acres of private forest plantations in Myanmar that have teak, hardwood, rubber, palm and industrial crop plantations, nearly half of these plantations are dormant and seized by the State.
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Yangon Elevated Expressway project receives more than 50 Expression of Interest
(5 July 2018) Myanmar government received 53 Expressions of Interest (EoI) for the Yangon Elevated Expressway project from local and global corporations, mainly from Asia. This expressway project intends to solve the severe traffic congestion in Yangon. The Ministry of Construction invites global developers to construct up to 47.5km of expressway under a public-private partnership (PPP) to link downtown Yangon, Yangon Port, Yangon International Airport, Mingalardon Industrial Park and the Yangon-Mandalay Highway. The International Finance Corporation (IFC), a member of World Bank Group has estimated that the expressway project will cost from US$350 to US$400 million of private investment in Yangon’s road infrastructure.
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Foreign Affairs

Myanmar and India improve marine security and economy cooperation
(6 July 2018) Myanmar and India have agreed to enhance political and security cooperation as well as strengthen the economic corridor in three primary focus areas namely trade, connectivity and culture. The Minister for External Affairs of India Sushma Swaraj expressed that ASEAN is the focal point of India’s foreign policy and all efforts will be made to boost physical and digital connectivity between ASEAN and India. Myanmar and India have agreed to cooperate in three areas including maritime security cooperation during President of Myanmar, U Htin Kyaw’s visit to India in 2017. India is a negotiating country of the Regional Comprehensive Economic Partnership and has signed the Treaty of Amity and Cooperation in 2003.
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