PwC Myanmar Weekly Business Intelligence · 2020-03-10 · 8 March 2020 PwC PwC Myanmar Weekly...

PwC Myanmar Weekly Business IntelligenceIssue No. 203

8 March 2020

8 March 2020

PwC

Disclaimer

2PwC Myanmar Weekly Business Intelligence

PricewaterhouseCoopers Myanmar Co., Ltd helps organisations and individuals create the value they’re looking for. We’re a member of the PwC network of firms in 157 countries

with more than 276,000 people who are committed to delivering quality in assurance, advisory and tax services. Tell us what matters to you and find out more by visiting us at

www.pwc.com/mm.

This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.

© 2020 PricewaterhouseCoopers Myanmar Co., Ltd, a company duly established and operating under the laws of Myanmar. All rights reserved. PwC refers to the Myanmar

member firm, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details.

The information contained in this publication is for general guidance on matters of interest only and is not meant to be comprehensive. The application and impact of laws can vary

widely based on the specific facts involved. Before taking any action, please ensure that you obtain advice specific to your circumstances from your usual PricewaterhouseCoopers

Myanmar Co., Ltd client service team or your other tax advisers.

Upcoming Events MIC Permitted ProjectsTender OpportunitiesPolicy and Regulation InfrastructureFinancial and Business

8 March 2020

PwC 3

Infrastructure

Transport

• Firms invited to bid for upgrade of Yangon-Mandalay expressway

• Locals voice approval for Yangon Elevated Expressway

• Yangon mayor takes action to improve city parking

Energy

• Power projects on track for completion, ministry says

• Gov’t faces hydropower project delays due to COVID-19

• Myanmar govt faces setbacks in enforcing compliance with EITI database

Real Estate

• Kachin State Inks Border Business Park Deal With China-Myanmar Joint Venture

• Myanmar’s first hostel Startup Plans to Bring Silicon Valley Culture to the country

Waste and Water

• As Myanmar farmers lose their land, sand mining for Singapore is blamed

Other Infra

• Western pressure pushes Myanmar towards China, research firm says

• No timetable for restoration of internet access in Rakhine, Chin

• Myanmar Will Benefit From Deeper Ties With India

Infrastructure

• Insurers authorised to provide bancassurance in Myanmar

• 11 Factories in Myanmar Close Due to Lack of Orders, Raw Materials

• Foreign insurers added more than $120M to industry in Myanmar

• Mother Finance, NearMe collaborate to expand fintech reach in Myanmar

• Purchasing index shows slowdown in Myanmar’s manufacturing

Financial and Business

• Businesses call for CBM intervention on exchange rate, virus

• Is constitutional reform a journey to nowhere?

• UN seeks $877m for Rakhine refugees in Bangladesh

• Microloan Providers Need MRSD Approval

• ASEAN in position to make strategic gains from Brexit

Policy and Regulation

Highlights

• “The Ministry of Construction will invite Expressions of Interest from the private sector for the

upgrading of the Yangon–Mandalay Expressway, U Han Zaw, Minister of Construction said. The

project is one of the 58 national development projects listed in the Myanmar Project Bank.”

• “Insurance Business Regulatory Board (IBRB) on March 4 released three directives, including one

- Directive No 2/2020 - allowing banks and microfinance institutions to operate as agents selling

insurance after obtaining approval from the Central Bank of Myanmar and Microfinance Business

Supervisory Committee.”

• “Seven new power plants that are expected to generate more than 1,000 megawatts of additional

electricity are being built in Magwe, Shwetaung, Kyunchaung, Ahlone, Kyaukphyu, Thanlyin, and

Thaketa, with the aim of fulfilling the projected increase in demand nationwide for electricity during

the hot season.”

InfrastructurePolicy and

Regulation

Tender

Opportunities

MIC

Permitted

Projects

Upcoming

Events

Financial and

BusinessIssue - 203, 08 Mar 2020

PwC Myanmar Weekly Business Intelligence

http://www.pwc.com/sg/en/

8 March 2020


4

8 March 2020

PwC 5PwC Myanmar Weekly Business Intelligence


Insurers authorised to provide bancassurance in Myanmar

Prudential Myanmar Life Insurance Limited, a

subsidiary of UK-based Prudential plc, has

signed a partnership with Yoma Bank to provide

Myanmar customers with life insurance solutions.

The two firms signed a memorandum of

understanding allowing Yoma Bank to distribute

Prudential Myanmar’s savings and protection

products at its branches across the country,

according to a release on March 5. Yoma Bank

has over 80 branches across 43 cities.

The announcement comes after the Insurance

Business Regulatory Board (IBRB) on March 4

released three directives, including one -

Directive No 2/2020 - allowing banks and

microfinance institutions to operate as agents

selling insurance after obtaining approval from

the Central Bank of Myanmar and Microfinance

Business Supervisory Committee.

The practice, known as bancassurance, is

expected to help insurance providers extend the

reach of their products. According to research

commissioned by KBZ MS, the total

bancassurance channel in Myanmar could grow

to K2 trillion [US$1.3 billion] if applied to the total

projected insurance market in Myanmar by 2029.

As such, Directive No 2/2020 has been long

anticipated by the industry. Up until its release,

only two insurance providers - KBZ MS and AYA

SOMPO - were authorised to engage in

bancassurance on a provisional basis.

Along with the release of the directive regarding

bancassurance were two directives regulating

insurance licensing and insurance product

approval process.

Directive No 1/2020 stipulated that insurance

providers must seek separate licenses to offer

life and non-life products.

Directive No 3/2020 indicated that all new

insurance products require approval from the

IBRB, according to the Insurance Business Law.

Only one product can be submitted for review to

the IBRB each time.

In November 2019, Prudential together with

Japanese Dai-ichi Life, Hong Kong AIA, US

Chubb and Canadian Manulife were granted a

licence from the Ministry of Planning and Finance

of Myanmar to operate a wholly-owned life

insurance business in the country.

Source: Myanmar Times

https://www.mmtimes.com/news/insurers-

authorised-provide-bancassurance-

myanmar.html

05 Mar 2020

Myanmar aviation sector expected to become profitable, but more pain ahead first

Myanmar’s aviation industry is betting on a more

profitable future with the number of airlines now

reduced to half compared to 2017 and demand

for domestic air travel expected to catch up with

supply. However, they will have to swallow more

losses in the short term before things get better.

There are currently five airlines in Myanmar,

down from ten three years ago. But even though

there are fewer players now in the market, the

volume of passengers flying domestic remains

below three million, according to government

data.

At those levels, demand is not sufficient to cover

the industry’s losses, U Kyaw Nyein, CEO of

Golden Myanmar Airlines (GMA), told The

Myanmar Times in a recent interview.

But profitability is possible in the years ahead,

making it a good time for the remaining airlines to

accelerate their plans for expansion to capitalise

on future demand, according to a 2019 report by

the Centre for Asia Pacific Aviation.

Last year, GMA took delivery of a new aircraft,

taking its current fleet of ATR-72s to three. “With

the additional seats, we can now fly daily

compared to alternate days before. We will also

extend our destinations to include more flights to

Dawei and Kaw Thaung, which could be potential

tourist attractions in the future,” U Kyaw Nyein.

Air KBZ has also been expanding. Last year, it

upgraded its fleet of planes and announced new

destinations to Dawei , Kaw Thaung , Myeik,

Sittwe, Kyaingtong, Hkamti and Loikaw. its sister

airline, Myanmar Airways International, added a

new Airbus A319 to its fleet, expanding its

capacity by 144 passengers.

Tanes Kumar, commercial director for Air KBZ,

said even though the new routes are not yet

profitable, the main aim of adding new

destinations is to expand the airline’s network

and connectivity. “This gives passengers more

options and allows employees to learn new skills

for more expansion in the future,” he said.

Source: Myanmar Timeshttps://www.mmtimes.com/news/myanmar-aviation-sector-expected-become-profitable-more-pain-ahead-first.html

27 Jan 2020


https://www.mmtimes.com/news/insurers-authorised-provide-bancassurance-myanmar.html

https://www.mmtimes.com/news/myanmar-aviation-sector-expected-become-profitable-more-pain-ahead-first.html

8 March 2020



11 Factories in Myanmar Close Due to Lack of Orders, Raw Materials

YANGON – Thirteen factories in Yangon and

Bago regions have closed or cut back staff in

Myanmar since January due to factors like a lack

of raw materials, no orders and no buyers,

according to the Ministry of Labor’s factories

inspection department.

U Nyunt Win, director general of the department,

told The Irrawaddy on Wednesday that seven

factories had closed permanently, four had shut

temporarily and two had reduced their

workforces.

Most are garment factories, with the others

making shoes, steel, wood, paper and printed

goods.

The Labor Ministry declined to name the

factories.

”The factory closures were due to loss of

business, lack of orders and lack of raw

materials,” said U Nyunt Win.

He said some of the factories faced challenges

like industrial action and labor disputes. As a

result, businesses lost partners, as they could

not supply products on time.

Due to the factory closures, more than 3,000

workers were now unemployed. The shutdowns

were not all linked to the coronavirus, according

to the director-general.

The Union of Myanmar Federation of Chambers

of Commerce and Industry (UMFCCI) said

clothing factories were facing a shortage of

supplies from China because of COVID-19.

Many factories were planning to lay off staff or

stop operations if they faced long-term shortages

of supplies, according to the trade organization.

The UMFCCI requested that the government

allow employers to compensate workers based

on the minimum daily wage of 4,800 kyats

(US$3.4)—not their current salaries—if they

close a factory.

It also requested the government suspend

enforcing the new minimum wage until

September rather than in May, as previously

planned.

The federation called on banks to increase

lending at low-interest rates to factories dealing

with the coronavirus.

It also called on the government to prevent a

planned strike for those factories that might have

to close.

Source: The Irrawaddy

https://www.irrawaddy.com/news/burma/11-

factories-myanmar-close-due-lack-orders-raw-

materials.html

04 Mar 2020

Foreign insurers added more than $120M to industry in Myanmar

Investors have channeled some US$120 million

and K60 billion into the Myanmar insurance

sector since its liberalisation last year, according

to the Myanmar Investment Commission (MIC).

In 2019, the Ministry of Planning, Finance, and

Industry granted permission to five wholly foreign

life insurance companies and six joint venture life

insurance and non-life insurance companies to

operate in the domestic insurance market.

During the period, the five wholly foreign life

insurance companies - AIA, Chubb, Dai-ichi,

Manulife and Prudential - invested a sum totaling

$65 million, according to the MIC.

The three joint venture life insurance companies

– Capital Taiyo Life, CB Life and GGI Nippon

Life- invested $34 million and around K10 billion.

Meanwhile, the three joint venture non-life

insurance companies – AYA Sompo, GGI Tokio

Marine and KBZ MS – put in $26 million and K56

billion.

U Thant Sin Lwin, secretary of the MIC, said the

insurance sector contributed strongly to total

foreign direct investments (FDI) of around $2.6

billion in fiscal 2019-20.

Myanmar is expected to receive a total of $5.8

billion in FDI this fiscal year, according to the

MIC’s estimates.

Source: Myanmar Business Today

https://www.mmtimes.com/news/foreign-insurers-

added-more-us120m-industry.html

03 Mar 2020


https://www.irrawaddy.com/news/burma/11-factories-myanmar-close-due-lack-orders-raw-materials.html

https://www.mmtimes.com/news/foreign-insurers-added-more-us120m-industry.html

8 March 2020



Mother Finance, NearMe collaborate to expand fintech reach in Myanmar

Mother Finance Co Ltd and NearMe Digital

Services on February 28 signed a collaboration

agreement to provide credit to NearMe's agent

and partner network.

Mother Finance, a licensed non-bank financial

institution which provides small loans to

customers via a mobile app, will be providing

unsecured SME loans to NearMe.

NearMe currently has over 50,000 partner stores

nationwide. The maximum amount that can be

borrowed is K500 lakh, said Daw Theta Aye,

CEO of Mother Finance.

U Linn Htike Aung, managing director of NearMe,

said "SMEs contribute a lot to the economy and

this is an excellent way to help them grow quickly

by making use of the latest digital technology."

NearMe is a mobile application which enables

users to make a variety of payments and

purchases such as taxes and public utilities as

well as flight tickets, bus tickets and over 70

other products.

Users typically pay by cash at the nearest

convenience stores and other NearMe agents

and partners.

For Mother Finance, the deal represents an

opportunity to expand its loan offerings to

NearMe's SME network and collect valuable

transaction data from its agents and partners.

"We have been offering collateral-free digital

loans to individual, both employed and self-

employed as well as SMEs on our mobile app

platform. We have provided our services to

customers in every state and division within

Myanmar. Expanding our offering to NearMe will

facilitate us with collecting transaction data of

agents and partners within their network," said

Daw Theta Aye.

Currently, customers of Mother Finance can

repay their loan through a total of more than

50,000 NearMe partner shops including City

Express, Oasis, Denko Mini Mart, Lugyimin and

eCity Phone outlets.

Mother Finance introduced Myanmar's first-ever

mobile app-based digital lending platform in July

2018. Since then, it has served over 60,000

registered users and has disbursed more than

K3 billion.


https://www.mmtimes.com/news/mother-finance-

nearme-collaborate-expand-fintech-reach-

myanmar.html

01 Mar 2020

Purchasing index shows slowdown in Myanmar’s manufacturing

Myanmar’s latest Purchasing Manager’s Index

(PMI) figure for manufacturing is indicating that

manufacturing businesses are slowing.

IHS Markit, a London-based information provider,

released its report on Myanmar’s Manufacturing

PMI yesterday.

The headline IHS Markit Myanmar Manufacturing

PMI is a composite single-figure indicator of

manufacturing performance. It is derived from

indicators for new orders, output, employment,

suppliers’ delivery times and stocks of

purchases. Any figure greater than 50 indicates

overall improvement of the sector.

Business conditions in Myanmar’s manufacturing

sector abruptly stalled in February, according to

PMI survey data from IHS Markit. Overall

business conditions failed to improve for the first

time since October 2018, signalled by the

headline PMI coming in just below the no-change

mark of 50.

The PMI hit 49.8 in February, down sharply from

52.7 in January. The latest figure signalled

stagnation in manufacturing business conditions

in Myanmar.

“Myanmar’s 15-month run of improving

manufacturing business conditions was abruptly

halted in February, as the PMI equalled it’s

largest ever one-month fall to come in just below

the neutral 50 mark,’’ Trevor Balchin, economics

director at IHS Markit, said.

The drop in the PMI reflected weaker

contributions from four of the five components.

Growth of output and new orders both slowed

sharply since January, while employment was

broadly unchanged in February and stocks of

purchases declined at a faster rate. The final

component – suppliers’ delivery times – was

broadly stable despite some reports of delays

due to shutdowns in China.

Purchasing operations were scaled down in

February as a result of slower demand.

Suppliers’ delivery times lengthened by the most

in four months in February, but overall there was

little evidence of supply chain disruption resulting

from the COVID-19 outbreak in China.

The output and new orders indices remained in

expansion territory, but both fell sharply since

January.


https://www.mmtimes.com/news/purchasing-

index-shows-slowdown-myanmars-

manufacturing.html

04 Mar 2020


https://www.mmtimes.com/news/mother-finance-nearme-collaborate-expand-fintech-reach-myanmar.html

https://www.mmtimes.com/news/purchasing-index-shows-slowdown-myanmars-manufacturing.html

8 March 2020

Infrastructure

8

8 March 2020


Firms invited to bid for upgrade of Yangon-Mandalay expressway

The Ministry of Construction will invite

Expressions of Interest from the private sector for

the upgrading of the Yangon–Mandalay

Expressway, U Han Zaw, Minister of

Construction said.

The project is one of the 58 national

development projects listed in the Myanmar

Project Bank.

The project involves upgrading the 524 -km

expressway, currently the most important

transport route in Myanmar, to a international-

standard expressway with proper safety and road

control facilities.

The first 64 km from Yangon to Bago is expected

to be upgraded with assistance from the Asia

Development Bank. Feasibility studies are now

being conducted for the remaining sections of

Bago-Phyu-Naypyitaw-Meikhtila-Mandalay.

Work is expected to start in fiscal 2020-21 and

be complete by fiscal 2024-25. The project is

expected to cost US$ 960 million in total and

additional financing will be sought.

‘’The cost of the project is high so we are

planning to invite both local and international

investors from the private sector,’’ said U Han

Zaw.

The expressway also serves as a major access

road between China and India by functioning as

the Asian Highway 1 of the Asian Highway

network.

This is expected to play a key role in connecting

international logistics with Thailand and Vietnam

to inland Myanmar.

The project is also expected to reduce traffic

accidents and enhance driving comfort through

rehabilitation of damaged pavements, installation

of road safety facilities and improvement of

geometric alignment.


https://www.mmtimes.com/news/firms-invited-

bid-upgrade-yangon-mandalay-expressway.html

05 Mar 2020













data.
































https://www.mmtimes.com/news/myanmar-

aviation-sector-expected-become-profitable-

more-pain-ahead-first.html

27 Jan 2020

Infrastructure TransportUpcoming Events MIC Permitted ProjectsTender OpportunitiesPolicy and Regulation InfrastructureFinancial and Business

https://www.mmtimes.com/news/firms-invited-bid-upgrade-yangon-mandalay-expressway.html


8 March 2020


Locals voice approval for Yangon Elevated Expressway

Locals have voiced their approval of the

construction of the Yangon Elevated

Expressway, which will begin in August,

according to the Highways Department under the

Ministry of Construction.

Deputy Director General U Kyi Zaw Myint said

his department has met with the locals and

addressed their concerns, including noise

pollution and potential flooding in areas under the

expressway. Compensation will be provided to

those affected by construction.

The first public meetings were held from

February 15 to March 1 in townships where the

flyover will pass through. The next meeting will

be held in July or August. “Overall, most

supported the project,” he said.

Meanwhile, the winning bidder for the project will

be announced in May, after which a ground-

breaking ceremony will be held in July.

Construction will begin in August and is

expected to take around five years to complete.

The expressway will be put into operation by May

2025.

The Yangon Elevated Expressway project will be

implemented by the Ministry of Construction and

Yangon Region Government under a Public

Private Partnership with the winning bidder.

The road will traverse eight major Yangon

townships – Mingalar Taung Nyunt, Tamwe,

Thingangyun, South Okkalapa, North Okkalapa,

Mayangone, Mingaladon, and Insein.

When complete, it will be 27.5 km in length, 8m

to 19.5 m in height and comprise four lanes. The

project is valued at US$900 million.


https://www.mmtimes.com/news/locals-voice-

approval-yangon-elevated-expressway.html

05 Mar 2020

Yangon mayor takes action to improve city parking

Yangon Mayor U Maung Maung Soe said that

the government will take action against those

who obstruct parking spaces either with their

vehicles or by placing objects on the roads, in

order to improve traffic flow in the city.

“We have to solve the issue of people parking in

the wrong places on the roads, by labelling

designated parking spots in the downtown

townships of Yangon. We have had problems

with parking for a long time, and we expect

people to cooperate with the new laws,” said U

Maung Maung Soe.

Part of the measures include clearly delineating

parking spaces with white lines, and erecting

signs outlining new parking laws and amounts to

be paid for tickets.

In an effort to improve the lives of city dwellers

the YCDC has tried to alleviate traffic congestion

and car accidents in the city.

The latest measure targets drivers who park too

close to other vehicles or in the way of

pedestrians, said the mayor.

Residents or drivers who place objects in the

road (to reserve parking spaces) have those

objects confiscated under the law. Last year the

city townships confiscated 557 objects in

Kyauktada, 47 in Pabedan, 2,048 in Latha, 2,530

in Lanmadaw, 625 in Pazundaung and 549 in

Botahtaung township, making a total of 6,356 for

the 6 major downtown townships.

For the Eastern Districts of Yangon 797 objects

were confiscated, a massive 8,326 in the

Western District, 2,631 in the Southern District

and 1,107 in the Northern District, according to

Mayor.

YCDC Law Section 315, Sub-Section F states

that placing objects, construction materials,

furniture, or making modifications to public roads

and streets without YCDC’s permission, is

prohibited. Sub-section N states that moving a

vehicle, parking or stopping on a public road for

an extended period of timein the city is

prohibited.

The fines for violations are K100,000 to

K500,000 for first time offenders, and the

subsequent violations can be punished with

imprisonment up to three months.


https://www.mmtimes.com/news/mayor-takes-

action-improve-city-parking.html

02 Mar 2020

Infrastructure TransportUpcoming Events MIC Permitted ProjectsTender OpportunitiesPolicy and Regulation InfrastructureFinancial and Business

https://www.mmtimes.com/news/locals-voice-approval-yangon-elevated-expressway.html

https://www.mmtimes.com/news/mayor-takes-action-improve-city-parking.html

8 March 2020


Power projects on track for completion, ministry says

To provide electricity before height of the dry

season arrives in March, new power plants need

to be completed on time, says Deputy Minister of

Electricity and Energy U Khin Maung Win.

Seven new power plants that are expected to

generate more than 1,000 megawatts of

additional electricity are being built in Magwe,

Shwetaung, Kyunchaung, Ahlone, Kyaukphyu,

Thanlyin, and Thaketa, with the aim of fulfilling

the projected increase in demand nationwide for

electricity during the hot season.

Of the projects, five are being implemented

under a tender called by the Ministry of Electricity

and Energy last June.

Two of the projects, a 151.54MW power plant in

Ahlone and a 20mw power plant in Kyunchaung

being built by Chinese companies. will generate

electricity with natural gas provided by the

government.

The other three projects, a 150MW plant in

Kyaukphyu, Rakhine State, and a 350MW plant

in Thanlyin, and a 400MW plant in Thaketa, both

in Yangon Region, will generate electricity with

imported liquefied natural gas.

V-Power Co, the Hong Kong-based winner of

one of the tenders, says its work for the power

project is on track, with work on infrastructure

such as jetties for the docking of LNG-carrying

ships, regasification units, pipelines to carry

natural gas, and power transmission lines

progressing rapidly in Thilawa, Yangon.

However, work on the 150MW plant in Ahlone,

Yangon , under China Energy Engineering Corp

(CEEC), has hit some setbacks. China-based

suppliers of machinery for the project have been

closed because of the COVID-19 outbreak and

experts from the companies have also been

unable to come to Myanmar due to travel

restrictions put in place to combat the outbreak,

says a spokesperson from the Ministry of

Electricity and Energy.

Meanwhile, a 66MW natural gas power plan in

Magway has started operating.

The country’s power needs are increasing 15pc

to 17pc per year with present power production

totalling 3,566 MW. Yangon Region uses 50pc of

the total at 1,436 MW and Mandalay Region

comes second with over 500 MW.

The ministry said power demand is expected to

rise by 1,500 MW this year.


https://www.mmtimes.com/news/power-projects-

track-completion-ministry-says.html

03 Mar 2020

Grab says it pumped $100M into Myanmar in four years

Ride-sharing company Grab has invested over

US$100 million (K143.5 billion) in Myanmar in

the past four years to strengthen its position on

the local taxi market, a senior company official

said Tuesday.

Cindy Toh, country manager for Grab, said the

company will continue investing to further

improve the quality of its service in Myanmar.

“Grab will emphasise service quality and safety,

not only technology,” she told a briefing. “We will

continue investing in expansion and partnerships

to better the platform and expand the

ecosystem.”

Grab launched its service in Myanmar in July

2017, and has since introduced Grab Taxi Call

service, Premium Rentals (Beat), and Grab

Food.

The company’s taxi service is popular and

experiencing an increase of 10 percent in daily

rides in 2019 from the previous year, and adding

more than 196,000 more precise location points

in the Grab application.

The number of businesses using Grab for

Business doubled in 2019, and the most popular

destinations for rides were Myanmar Plaza,

Junction City, and Yangon Airport.

Grab will expand its services to other key cities

across the country this year, Toh said. GrabFood

will be launched for local restaurants and

transportation partners in Mandalay this year.

“Although food delivery is increasing locally, it

still lags behind other countries. We have many

opportunities,” said U Myat Kaung Min, head of

GrabFood Myanmar.

Grab For Good will be launched in Myanmar

soon.

In 2018, Grab launched its Grab Thone Bane

(three-wheeler) service in Bagan and Mandalay

city, and Grab TaxiPlus service.

More than 166 million people in 339 cities in

Myanmar, Vietnam, the Philippines, Thailand,

Cambodia, Malaysia, Singapore and Indonesia

have downloaded the Grab app on their mobile

phones. – Translated





12 Feb 2020

Infrastructure EnergyUpcoming Events MIC Permitted ProjectsTender OpportunitiesPolicy and Regulation InfrastructureFinancial and Business

https://www.mmtimes.com/news/power-projects-track-completion-ministry-says.html


8 March 2020


Gov’t faces hydropower project delays due to COVID-19

YANGON-Due to the COVID-19 outbreak,

factories have shut down in China and Chinese

experts have stopped coming, causing delays to

hydropower projects, according to the Ministry of

Electricity and Energy.

Deputy Minister of Electricity and Energy Khin

Maung Win inspected construction of 151-MW

power plant in Ahlon Township, Yangon, on

March 1st, instructing to complete timely

construction of the project to meet schedule, to

increase power generation, to meet the set

standard of the project, to install the equipments

for the early arrival of the equipments and

practice worksite safety.

He also laid down the plans to cope with delays

as the factories in China were closed and the

experts cannot travel to Myanmar due to the

COVID-19 outbreak.

Later, the deputy minister and party proceeded to

the implementation of 350-MW LNG to Power

Thilawa Plant in Kyauktan Township, Yangon

Region. They observed the installation of

Regasification Unit, 40% completion of jetty

construction, linking of gas pipe lines and

construction of seven 230-KV pylons.

With the aim to support the power consumption

within Summer, plans were underway to

generate over 1000-MW electricity from newly

seven power plant projects in Magway, Shwe

Taung, Kyunchaung, Ahlon, Kyaukphyu,

Thanlyin and Tharkayta Townships, according to

the Ministry of Electricity and Energy.

Source: Eleven Myanmar

https://elevenmyanmar.com/news/govt-faces-

hydropower-project-delays-due-to-covid-19

03 Mar 2020

Myanmar govt faces setbacks in enforcing compliance with EITI database

The government says it lacks the mechanisms to

force companies to disclose ownership

information through a public registry, which are

part of recent measures to clean up corruption in

the extractive industry.

Myanmar’s Extractive Industries Transparency

Initiative (EITI) unit, a government body under

the finance ministry, held a press conference on

February 28 to address criticisms over those

measures.

According to a report released by natural

resources expert Charlotte Boyer on the same

day, out of a total of 163 extractive companies,

121 submitted information about their beneficial

owners, but 31 of those had major flaws or

disclosed insufficient information. The “significant

gaps” in their submissions undermined the

credibility of the data or showed a weak

understanding of the beneficial ownership

requirements, the report said.

Set up to meet the requirements of EITI, the

database covers five state-run enterprises,

including Myanma Gem Enterprise and Myanma

Oil and Gas Enterprise, and 158 other extractive

entities.

The public registry is part of the government’s

efforts to tackle issues related to beneficial

ownership, referring to individuals who ultimately

own or substantially benefit from a private

company, and “politically exposed persons”

(PEP), defined as people who are or were

entrusted with prominent public functions and

their family members and associates.

As Paul Donowitz, Global Witness Myanmar

team leader, explained, the information is

supposed to help prevent the corporate

anonymity which facilitates money laundering,

bring transparency to licencing and public

procurement, reduce opportunities for fraud and

cronyism, and boost investor confidence.

However he added: “The released data itself is

riddled with incomplete and inaccurate

information, and the current legal framework and

available resources for implementation and

enforcement are lacking.”

The Myanmar Times earlier identified serious

flaws in the database.


https://www.mmtimes.com/news/myanmar-govt-

faces-setbacks-enforcing-compliance-eiti-

database.html

03 Mar 2020

Infrastructure EnergyUpcoming Events MIC Permitted ProjectsTender OpportunitiesPolicy and Regulation InfrastructureFinancial and Business

https://elevenmyanmar.com/news/govt-faces-hydropower-project-delays-due-to-covid-19

https://www.mmtimes.com/news/myanmar-govt-faces-setbacks-enforcing-compliance-eiti-database.html

8 March 2020


Kachin State Inks Border Business Park Deal With China-Myanmar Joint Venture

YANGON—The Kachin State government has

signed a memorandum of understanding (MOU)

with a Chinese-backed company to develop a

business park project in Kanpiketi, a border town

in northern Myanmar, as part of Beijing’s

ambitious grand infrastructure plan, the Belt and

Road Initiative (BRI).

On Wednesday, the MOU was signed by the

state government and Myanmar Heng Ya

Investment Development Company Ltd, a joint

venture between Myanmar’s Kampaiti

Development Company Ltd and China’s Yunnan

Tengying Trading Company Ltd. The Chinese

company holds a 70-percent stake while the

Myanmar company holds 30 percent.

The signing ceremony was held at the Kachin

State government office in Myitkyina, the state

capital, witnessed by State Minister of Finance,

Revenue, Planning and Economy U Wai Lin,

State Minister for Electricity and Industry U Win

Nyunt and other officials from both sides,

according to a press release from the Myanmar

Ministry of Information.

At an estimated cost of US$22.4 million (31.85

billion kyats), the Kanpiketi Business Park will

cover nearly 70 acres (28 hectares) in the border

town in northern Kachin State’s Special Region

1. The area is controlled by the New Democratic

Army-Kachin (NDAK) militia, which is allied with

the Myanmar military.

According to the Directorate of Investment and

Company Administration (DICA), the sons of

NDAK militia founder Zahkung Ting Ying are the

directors of the Kampaiti Development Company.

The NDAK was converted into a Border Guard

Force (BGF), a government-sponsored militia, in

2009 and still has significant influence in Special

Region 1.

Yunnan Tengying Trading Company Ltd is a

subsidiary of Yunnan Baoshan Hengyi Industry

Group. The Irrawaddy has learned that Baoshan

Hengyi also operates in the Kachin State capital

of Myitkyina under the name Yunnan Tengchong

Heng Young Investment Company (YTHYIC).

The company signed an agreement with the

Kachin State government in 2018 to develop the

US$400-million Myitkyina Economic Zone on

4,700 acres of land along the historic Ledo Road.

The project has drawn criticism for lacking

transparency.


https://www.irrawaddy.com/news/burma/kachin-

state-inks-border-business-park-deal-china-

myanmar-joint-venture.html

04 Mar 2020






said Tuesday.








ecosystem.”




Food.

















GrabFood Myanmar.


soon.













12 Feb 2020

Infrastructure Real EstateUpcoming Events MIC Permitted ProjectsTender OpportunitiesPolicy and Regulation InfrastructureFinancial and Business

https://www.irrawaddy.com/news/burma/kachin-state-inks-border-business-park-deal-china-myanmar-joint-venture.html


8 March 2020


03 Mar 2020

Myanmar’s first hostel Startup Plans to Bring Silicon Valley Culture to the country

There are three things the Draper Startup House

Yangon is full of – young startups, entrepreneurs

and worldwide travelers. Take a seat at the

hostel’s watering hole, a bar supported by HAPA

Coffee & Cocktail, and the murmurs of startups,

VCs, entrepreneurs and digital nomads at

neighboring tables will soon flow into your ears.

Located in the heart of downtown Yangon, Tribe

Theory Hostel is a Singapore-based hostel chain

rebranded as Draper Startup House (DSH) after

securing $3.5 million from venture capitalist and

Draper Venture Network founder Tim Draper. For

its tenants, it’s aspirins for the headache of

fluctuating property prices and precarious,

flexible and mobile nature of today’s working

culture.

In two years of operation, the hostel has

expanded to locations worldwide including Bali,

Singapore, Yangon, Estonia, Manila, Lisbon and

Bangalore, with its first U.S. property to open in

Austin, Texas in March.

The hostel, whose robin’s-egg-blue doorway is

engraved with the words 1950s, not only injects a

sense of vitality to the quiet street but also greets

travelers with a colorful and homey decor. By

combining capsule beds in shared dorm rooms

with the entrepreneurial environment of a co-

working space, the hostel is slated to build up a

young entrepreneurs’ community.

Office-sharing startup WeWork’s swift and

spectacular fall from grace turned a much-touted

success story into a cautionary tale. Draper

Startup House, however, hacked the co-working

model by forming a curated community for young

professionals who enjoy a multitude of stunning

amenities with the freewheeling vibe of working

at a startup.

“Since the beginning, we have never identified

ourselves as a co-working or co-living space. We

identify ourselves as a startup which impacts

people through our beds, events and the

travelers,” CK Goyal, co-founder of Draper

Startup House, told Myanmar Business Today.

“What we are doing is more intimate, and also

the working space and events are more

impactful,” he added.

When asked about the reason for picking

Yangon over cities in neighboring countries,

Goyal said the market is “so raw” that it offers

endless possibilities and opportunities.


http://mmbiztoday.com/myanmars-first-hostel-

startup-plans-to-bring-silicon-valley-culture-to-

the-country/

17 Feb 2020

Infrastructure Real EstateUpcoming Events MIC Permitted ProjectsTender OpportunitiesPolicy and Regulation InfrastructureFinancial and Business

http://mmbiztoday.com/myanmars-first-hostel-startup-plans-to-bring-silicon-valley-culture-to-the-country/

8 March 2020


As Myanmar farmers lose their land, sand mining for Singapore is blamed

YANGON/SINGAPORE (Reuters) - From a boat

on the Salween River in southeastern Myanmar,

Than Zaw Oo pointed to a brown stretch of water

he said was once full of lush paddy fields.

“This used to be my land,” said the 51-year-old

farmer, frowning at the murky waves.

All but six of the 24 acres where he used to grow

rice and vegetables have slipped into the water

in recent years, he said. Another farmer, Than

Tun, said he had lost 15 acres of his land to

erosion. While official records were not available,

other villagers backed their accounts.

Farmers and politicians in Chaungzon township,

just outside the southern town of Moulmein,

worry that erosion in the area is being

exacerbated by the ships that dredge its bed for

sand each night. The sand is mainly bound for

Singapore, the world’s biggest importer, for use

in reclamation and construction projects.

Both the Myanmar government and the company

whose ships do the dredging in Chaungzon deny

the dredging is causing the erosion. But the

dispute highlights the fractious issue of sand-

mining in Southeast Asia as Singapore is forced

to look farther afield to slake its thirst for the

mineral following bans on the trade in countries

like Malaysia and Indonesia over environmental

concerns.

Sand mining has been blamed by scientists for

damaging sensitive ecosystems around the

world, accelerating coastal and riverine erosion,

and exacerbating the frequency and severity of

floods and droughts, according to a 2019 report

by the U.N Environment Programme.

Malaysia, formerly the biggest source of sand for

Singapore, in 2018 introduced an outright ban on

the export of sea sand, used for land

reclamation, and imposed tighter controls on

river sand, used mostly in construction.

Cambodia made a similar move in 2017, while

Indonesia banned exports to Singapore in 2007,

causing a “sand crisis” that brought building

activity almost to a halt. Singapore, an island

state that has grown 25 percent since its

independence in 1965 thanks largely to

aggressive land reclamation, has since bolstered

its stockpiles, according to sand traders.

Source: Reuters

https://www.reuters.com/article/us-myanmar-

sand-singapore-insight/as-myanmar-farmers-

lose-their-land-sand-mining-for-singapore-is-

blamed-idUSKBN20R0C1

04 Mar 2020






said Tuesday.








ecosystem.”




Food.

















GrabFood Myanmar.


soon.













12 Feb 2020

Infrastructure Waste and WaterUpcoming Events MIC Permitted ProjectsTender OpportunitiesPolicy and Regulation InfrastructureFinancial and Business

https://www.reuters.com/article/us-myanmar-sand-singapore-insight/as-myanmar-farmers-lose-their-land-sand-mining-for-singapore-is-blamed-idUSKBN20R0C1


8 March 2020


Western pressure pushes Myanmar towards China, research firm says

A global research agency believed increasing

pressure from the west on Myanmar’s alleged

rights violations would push the country’s political

and economic allegiance towards China, even if

Myanmar seeks diversification of trade relations.

Fitch Solutions, a unit of the UK Fitch Group,

said China looks likely to be the dominant foreign

influence over the coming years with its already

entrenched interests over Myanmar coupled with

the possibility of news sanctions from the West

due to human rights abuses.

“The government’s inaction and repeated

equivocation of the alleged abuses risks

Myanmar becoming even more isolated on the

international stage and also sanctions being

expanded to include civilians and the economy,”

said Fitch Solutions in its latest Outlook for

Myanmar report released last week.

The atrocities committed against the northern

Rakhine Muslims has once again caught the

international attention recently as the

International Court of Justice in January imposed

emergency “provisional measures” on Myanmar,

ordering the country to preserve evidence of

crimes and report to the court on measures taken

to prevent genocide. The case derived from the

military crackdown that resulted in more than

740,000 northern Rakhine Muslims fleeing to

Bangladesh.

The EU Commission’s decision in early February

to partially withdraw Cambodia’s trade

preference under the Everything But Arms (EBA)

trade preferences initiative renewed worries

about the EU removing Myanmar’s privileged

status.

China, however, remains Myanmar’s safest bet.

In terms of security and peace, China has proved

to be indispensable with over 60 percent of

weapon supply to the Tatmadaw between 2014-

18, while playing a key role in the national

ceasefire negotiation between ethnic armed

groups and the government.

On the economic front, China has been the top

investor following the tumbling of western

investment after the Rakhine humanitarian crisis

that shocked the world in 2017.


https://www.mmtimes.com/news/western-

pressure-pushes-myanmar-towards-china-

research-firm-says.html

06 Mar 2020






said Tuesday.








ecosystem.”




Food.

















GrabFood Myanmar.


soon.













12 Feb 2020

Infrastructure Other InfraUpcoming Events MIC Permitted ProjectsTender OpportunitiesPolicy and Regulation InfrastructureFinancial and Business

https://www.mmtimes.com/news/western-pressure-pushes-myanmar-towards-china-research-firm-says.html


8 March 2020


No timetable for restoration of internet access in Rakhine, Chin

The government said it will not restore internet

access in some townships in Rakhine and Chin

states, despite calls both here and abroad to lift

the ban.

U Soe Thein, permanent secretary of the Ministry

of Transport and Communications, said he did

not know when internet would be restored in the

townships of Maungdaw, Buthidaung,

Rathedaung, Ponnagyun, Mrauk-U, Kyauktaw,

Minbya and Myebon in northern Rakhine and

Paletwa in Chin.

“We will issue a statement when access is

restored,” he told participants at a digital forum in

Yangon recently.

Internet access was cut off in the townships last

June. In August, service was restored in

Maungdaw, Buthidaung, Rathedaung, Myebon

and Paletwa, but it was cut off again on February

3.

The Tatmadaw (military) and Arakan Army (AA)

have been fighting in the area since November

2018.

In Mrauk-U, 11 civilians were killed in four days

of clashes between the Tatmadaw and AA that

started on Saturday, a Rakhine civic group said.

In nearby Rathedaung, 24 houses were

destroyed when artillery shells landed in a village

over the weekend.

In Paletwa, all transport routes have been cut off

by the fighting since early February, causing food

shortages affecting over 100,000 people.

The AA, comprised mostly of ethnic Rakhine

Buddhists, was set up in 2009 to fight for more

autonomy from the Myanmar government.

Internet rights advocates criticised the internet

blackout in Rakhine and Chin, saying it violated

the people’s right to information.

"We don’t know who we can rely on for

information. We want the internet restored as

soon as possible," a Paletwa resident said.

Ma Ei Myat Noe Khin, who discussed digital

rights at the forum, urged the government to

restore people’s rights.

"The people of this country are democratically

fighting for their rights,” she said. “The

government should immediately stop taking

these actions."

"I demand the restoration of the internet,” she

added. “And it should not reduce internet speeds

during the elections."


https://www.mmtimes.com/news/no-timetable-

restoration-internet-access-rakhine-chin.html

05 Mar 2020

Infrastructure Other Infra

Myanmar Will Benefit From Deeper Ties With India

If Myanmar wants to counterbalance China, it will

need to develop stronger ties with India, its other

giant neighbor—and the world’s largest

democracy.

During President U Win Myint’s recent visit to

India, the two countries signed 10 agreements

with a focus on socioeconomic development in

Myanmar.

Myanmar, which shares a land border with

northeastern India stretching for some 1,624

kilometers, is geopolitically significant to New

Delhi’s “Act East” policy, which aims to boost

economic integration with Southeast and East

Asia.

When she visited India for the first time as an

opposition figure in 2012, Daw Aung San Suu

Kyi, who is now Myanmar State Counselor,

described the bilateral friendship in personal

terms, saying, “I feel myself partly a citizen of

India—a citizen of love and honor.” Her father,

Myanmar independence hero General Aung San,

was a personal friend of Jawaharlal Nehru,

India’s first prime minister. Her mother, Daw Khin

Kyi, later served as ambassador to New Delhi.

Suu Kyi, who also went to school in India,

praised the people of the country, “who have

given me so much affection, so much warmth

with such generosity that I have never felt myself

to be far away from India even in the days when I

had little contact with you.” In 1995, she received

the Indira Gandhi Memorial Trust award, though

she was unable to accept the award in person,

as she was not allowed to leave Yangon.

Daw Aung San Suu Kyi has clearly long viewed

India as important, but Myanmar’s generals also

have a keen understanding of the significance of

New Delhi’s role in the region’s geopolitical

game. Before leaving his powerful position in

2011, former Myanmar dictator Senior General

Than Shwe paid two highly publicized overseas

visits: to India and China. The twin visits showed

that the two nations were equally important to

Myanmar.

Today, India’s strategy is to engage with

Myanmar through five “C’s”: connectivity,

commerce, capacity-building, culture and

community. However, the ongoing relationship

with India needs to be taken to a more strategic

level.


https://www.irrawaddy.com/opinion/editorial/mya

nmar-will-benefit-deeper-ties-india.html

03 Mar 2020


https://www.mmtimes.com/news/no-timetable-restoration-internet-access-rakhine-chin.html

https://www.irrawaddy.com/opinion/editorial/myanmar-will-benefit-deeper-ties-india.html

8 March 2020

Policy and Regulation

18

8 March 2020


Businesses call for CBM intervention on exchange rate, virus

With the COVID-19 virus outbreak set to impact

Myanmar’s economy and recent rapidly

fluctuating foreign exchange rates, the Union

Federation of Chamber of Commerce and

Industry (UMFCCI) has requested the Central

Bank of Myanmar (CBM) to intervene.

“COVID-19 will have impacts on Myanmar’s

economy. At present, tourism has plummeted

and regular exports of fruit to China have slowed

to a trickle. From a global perspective, many

foreign governments and central banks are

instituting quick responses to recent situations. In

Myanmar, another recent issue is the fluctuation

of foreign exchange rates. The kyat has

strengthened against the US dollar, making local

products more expensive for foreign buyers” said

UMFCCI Secretary General U Aye Win on

March. 5

“We can foresee how far they impacts will reach

– they may affect all local businesses including

severe impacts on agriculture-related sectors,” U

Aye Win added.

Since the majority of Myanmar’s exports are

agricultural products, the sector may face

hardships due to the strength of the kyat.

Many business owners are asking for the CBM to

step in to help stabilise the exchange rate as

they are already having to deal with virus

outbreak. Although CBM is responsible for the

stability of monetary system, it also needs to

make the country’s economy develop as well, he

said.

Local businesspeople especially exporters and

those in the agricultural sector have been asking

the UMFCCI what action CBM will take on on

interest rates to mitigate economic impacts and

current exchange rates, said U Aye Win.

The garment, tourism, and export sectors as well

as small and medium sized enterprises and

farmers are facing hardships due to the current

situation, said Daw Khine Khaine Nwe, secretary

general of the Garment Manufacturers’

Association.

According some authorities in China, the

production of some raw materials such as textiles

and fabrics will return to normal by the end of

April, and the raw material manufacturing

industries in China are currently operating at just

30 percent capacity.


https://www.mmtimes.com/news/businesses-call-

cbm-intervention-exchange-rate-virus.html

06 Mar 2020













data.































Source: Myanmar Timeshttps://www.mmtimes.com/news/myanmar-aviation-sector-expected-become-profitable-more-pain-ahead-first.html

27 Jan 2020

Policy and RegulationUpcoming Events MIC Permitted ProjectsTender OpportunitiesPolicy and Regulation InfrastructureFinancial and Business

https://www.mmtimes.com/news/businesses-call-cbm-intervention-exchange-rate-virus.html


8 March 2020


Is constitutional reform a journey to nowhere?

Members of the Pyidaungsu Hluttaw are

preparing to vote on a series of amendments to

the constitution but it is unlikely that any of them

will be approved.

PROPOSALS to amend the 2008 Constitution

are finally being discussed in the Pyidaungsu

Hluttaw and the debate has been lively. There

have been heated exchanges between members

of the politically dominant National League for

Democracy and unelected military MPs and

lawmakers from the Union Solidarity and

Development Party, who oppose the NLD’s

proposals for charter reform. Debate has been so

robust at times that the speaker has directed that

some outbursts be expunged from the

parliamentary record.

After its landslide victory in 2015, the NLD waited

until January 2019 – almost three years after

taking office – to begin implementing its election

campaign pledge to reform the constitution. The

NLD took a similar approach to that adopted by

Thura U Shwe Mann in his capacity as speaker

of the Pyidaungsu Hluttaw during the USDP

government, and appointed a constitutional

amendment joint committee, which was tasked to

prepare a draft bill to amend the charter.

The unelected Tatmadaw MPs objected to the

45-member committee as being unlawful. While

the NLD was trying to draft a constitutional

amendment bill that incorporated the opinions of

all parties in the Pyidaungsu Hluttaw, USDP and

Tatmadaw MPs submitted five of their own

amendment bills.

In early February, the NLD-controlled joint bill

committee finalised two amendment bills and

sent them to parliament for debate alongside the

five USDP and military bills. One bill contains

changes that would also require approval at a

national referendum, while the other contains

those changes that only require Pyidaungsu

Hluttaw approval. We can learn from these seven

bills about the changes sought to the constitution

by the NLD and ethnic parties on one side, and

by the Tatmadaw and USDP lawmakers, on the

other.

A bill submitted by Pyithu Hluttaw MP U Thein

Htun (USDP, Kyaunggon) proposes that chief

ministers of the states or regions be elected by

their respective hluttaw and not be appointed by

the president.

Source: Frontier Myanmar

https://frontiermyanmar.net/en/is-constitutional-

reform-a-journey-to-nowhere

04 Mar 2020

UN seeks $877m for Rakhine refugees in Bangladesh

UN agencies and NGO partners are seeking

US$877 million to meet the massive needs of

northern Rakhine refugees in Bangladesh, as the

United Nations High Commissioner for Refugees

(UNHCR) blasted Myanmar for not doing enough

for their safe return.

More than 855,000 Rakhine refugees from

Myanmar and over 444,000 Bangladeshis

hosting them in the local communities are

expected to benefit from the programme, now on

its third consecutive year.

The 2020 Joint Response Plan (JRP) allocates

the bulk of the plan to fund vital services and

assistance including food needs, shelter, clean

water and sanitation, while the others go to

health, protection, education, among others.

“The world must stand by the Rohingya and by

the Government and people of Bangladesh who

continue to host them,” said Filippo Grandi,

UNHCR chief said in an online statement.

Compared to previous years, the 2020 JRP

draws focus on the well-being of the affected

Bangladeshi communities from public service

infrastructure to energy initiatives. The JRP,

meanwhile, continues to provide protection for

refugees and life-saving assistance to those in

need.

The JRP in 2019 highlighted a critical

achievement of biometric registration of all

refugees living in the camps. The measure

helped secure their identities, enhance their

protection and lay the foundations for an even

more targeted, effective and efficient

humanitarian response in the future.

Last year, the programme received 70 percent of

its funding target at $650 million.

More than one million Rakhine refugees currently

reside in Bangladeshi camps bordering

Myanmar, due to Tatmadaw crackdown in

August 2017 following simultaneous attacks

launched by the Arakan Rohingya Salvation

Army on over 30 government outposts in

northern Rakhine.

Many refugees expressed their desire to return to

their birthland but fear the alleged continuing

discriminative policies and violence. Only around

600 refugees have so far voluntarily returned.

“The solution continues to be in Myanmar”, said

Mr Grandi, speaking on the sidelines of the 2020

JRP launch on Tuesday in Geneva.


https://www.mmtimes.com/news/un-seeks-877m-

rakhine-refugees-bangladesh.html

04 Mar 2020


https://frontiermyanmar.net/en/is-constitutional-reform-a-journey-to-nowhere

https://www.mmtimes.com/news/un-seeks-877m-rakhine-refugees-bangladesh.html

8 March 2020


Microloan Providers Need MRSD Approval

To provide microloans to government and

private-sector employees, microfinance

companies need approval from the Microfinance

Regulation and Supervision Division (MRSD), the

regulator said via a statement.

Lenders will not need permission to provide

microloans to their own employees, but they

need to inform the regulator of their loan-granting

process.

MRSD’s statement also said that microfinance

companies may not ask for recommendation

letters from the department where a borrower

works, deduct their salary as loan repayment, or

pressure borrowers with loan-default action

under the Civil Servant Law and Regulation

framework. Furthermore, lenders are required to

give government employees and their own

employees the same treatment when considering

loan applications.

Failure to comply with MRSD instructions will be

subject to penalties up to and including license

revocation, in accordance with the Microfinance

Business Law.

Between 2012 and April 2019, 181 financial

institutions registered as microfinance providers.

To tackle the problem of overlapping credit,

Myanmar will establish a credit bureau in April

tasked with collecting and storing borrowers’

credit history. Microfinance industry stakeholders

have pointed out that the problem stems from the

lack of formal data on microloans and the fact

that the loans are so small.

Myanmar Credit Bureau in December 2018

signed an agreement with Equifax New Zealand

Services and Solutions to establish a credit

bureau system.


https://mmbiztoday.com/microloan-providers-

need-mrsd-approval/

03 Mar 2020

ASEAN in position to make strategic gains from Brexit

BANGKOK -- Britain reigned supreme in the

world's ocean from the 17th to 20th centuries,

and its formal withdrawal from the European

Union at the end of January means it has started

redefining its political and diplomatic priorities in

line with its old identity as a leading maritime

country.

After half a century of concentrating its strategic

attention on the continent, the U.K.'s strategic

focus is now shifting toward the Indo-Pacific,

where it once had a dominant economic and

military presence. As a result of this seismic

geopolitical shift, the Association of Southeast

Asian Nations is facing the need to figure out the

full implications of Britain's return as a maritime

power.

On Jan. 15, just over two weeks before Brexit

day, Heather Wheeler, who was then a

parliamentary undersecretary of state at the

Foreign and Commonwealth Office in charge of

the Asia-Pacific region, visited the ASEAN

headquarters in Jakarta and conveyed London's

message to ASEAN Secretary-General Lim Jock

Hoi.

"We've been a dialogue partner via the European

Union for over 40 years. We would like to have

that status going forward. We realize it is going to

take a little time to get that done but we are

planting the seed today to say that we'd like U.K.

dialogue status with ASEAN partners," Wheeler

said.

ASEAN has been developing close ties with its

dialogue partners through regular high-level talks

over regional and global issues since 1978, when

Japan became the first country to acquire the

status. Now, nine countries and one international

organization -- the EU -- are ASEAN's dialogue

partners. The EU joined the list in its former

guise as the European Community in 1979.

These dialogue partners have their own missions

to ASEAN in Jakarta, which serve as liaison

offices for their exchanges and communications

with the trade bloc.

The U.K. has opened its new mission to ASEAN

and will hold a ceremony to celebrate its

establishment at the end of February.

But ASEAN has not added any country to the list

of its dialogue partners since 1996, when India,

China and Russia joined the ranks.

Source: Nikkei Asian Review

https://asia.nikkei.com/Spotlight/Comment/ASEA

N-in-position-to-make-strategic-gains-from-Brexit

23 Feb 2020


https://mmbiztoday.com/microloan-providers-need-mrsd-approval/

https://asia.nikkei.com/Spotlight/Comment/ASEAN-in-position-to-make-strategic-gains-from-Brexit

8 March 2020

Tender Opportunities

22

8 March 2020

PwC

Tender Opportunities in Myanmar


Source: World Bank Group, Asian Development Bank, Consult Myanmar

No Organisation Title Publication Date Closing Date

1 Asian Development Bank TA-9694 MYA: Impact Evaluation of the Climate-Friendly Agribusiness Value Chains Sector Project - Impact

Evaluation (48409-005)

06 Mar 2020 20 Mar 2020

2 Asian Development Bank TA-9723 REG: Support for Human and Social Development in Southeast Asia - Preparing the REG: Healthy

Borders Special Economic Zones (Consulting Firm) (52335-001)

03 Mar 2020 16 Mar 2020

3 Asian Development Bank TA-9571 REG: Consulting firm with specific expertise in health security and One Health approaches - Consulting

firm with specific expertise in health security and One Health approaches (51151-001)

26 Feb 2020 11 Mar 2020

4 Asian Development Bank GRANT-0617 MYA: Climate-Friendly Agribusiness Value Chains Sector Project - CS-02 Feasibility Studies and

Detailed Design Consultants (FSDDC) (48409-003)

25 Feb 2020 25 Mar 2020

5 Asian Development Bank LOAN-3724 MYA: Climate-Friendly Agribusiness Value Chains Sector Project - CS-09 Capacity Building and

Climate Smart Agriculture Training Consultants (48409-003)

19 Feb 2020 20 Mar 2020

6 World Bank Group Harmonized Methods and Tools for Assessment of Mismanaged Plastic Waste and Plastic Leakage to the

Environment in the ASEAN Region

06 Mar 2020 11 Mar 2020

7 World Bank Group Natural Hazard Assessment for the Reconstruction of Critical Transport Infrastructure 06 Mar 2020 23 Mar 2020


8 March 2020

PwC

Tender Opportunities in Myanmar (cont’d)


Source: World Bank Group, Asian Development Bank, Consult Myanmar

No Organisation Title Publication Date Closing Date

8 Ministry of Electricity and

Energy

National Electrification Project (NEP) – Installation of Distribution Lines and Transformers for Ayeyarwady, Mon

and Bago (West)

06 Mar 2020 06 Apr 2020

9 Ministry of Planning

Finance and Industry

Expression of Interest sought for Private Sector Participation in Myingyan Steel Mill 21 Feb 2020 10 Mar 2020

10 Ministry of Agriculture,

Livestock and Irrigation

Consulting Services for Capacity Strengthening for Integrated Water Resources Management (IWRM) 20 Feb 2020 17 Mar 2020


Energy

National Electrification Project (NEP) – Installation of Distribution Lines and Transformers for Shan (South), Shan

(North), Shan (East) & Bago (East)

13 Feb 2020 16 Mar 2020


Energy

National Electrification Project (NEP), Funding: Italian Soft Loan – Supply, Installation and Maintenance of Solar

PV Systems for Households and Public Facilities

11 Feb 2020 26 Mar 2020


8 March 2020

MIC Permitted Projects

25

8 March 2020

PwC

MIC Permitted Projects – Meeting (3/2020)


No Name of Company Type of Investment Form of Investment

1New Hope (Mandalay) Co., Ltd

Production, processing and marketing of all kinds of poultry feeds, animal

feeds, shrimp feeds and fish feedsWholly Foreign owned

2SMM Shwe Myanmar Beverages Co., Ltd Production and sales of food grade ethanol and Co2 Gas Wholly Myanmar owned

3Adonia Footwear Co., Ltd (HK 100%) Manufacturing of all kinds of sport shoes on CMP basis Wholly Foreign owned

4Glamoroso Apparel (Myanmar) Co., Ltd Manufacturing of garment on CMP basis Wholly Foreign owned

5Myanmar SWM Motor Co., Ltd Assembling, manufacturing, sales of motor vehicles and after sale services Wholly Myanmar owned

6Allin Pwint Construction Co., Ltd Hotel service Myanmar Investment

7Vivekananda international Co., Ltd (Malaysia) Higher education services Joint Venture

Source: DICA


8 March 2020

Upcoming Events

27

8 March 2020

PwC

Upcoming Events


Source: 10times.com, go-Myanmar.com

No Date Location Name of Event Sector Focus Points

1 04-05 Apr 2020 Yangon Global Summit of Sustainable Development Business Services “Global Summit of Sustainable Development will pursue the vision of the

global Rise movement to promote the re-emergence of the Tamils as

respectable global people by cultivating the culture of collaboration

among multi-stakeholders towards achieving mutual and inclusive

growth.”

2 27-28 Apr 2020 Yangon Myanmar Insurance Summit Banking & Finance “The theme of the conference will be Ushering In the New Growth Wave

to give a quick synoptic overview of the potential in Myanmar while

highlighting the power of strategic alliance and partnership to serve the

needs of the growing market for protection.”

3 12-14 May 2020 Yangon AAPG/EAGE Myanmar Oil & Gas Conference Power and Energy “AAPG/EAGE Myanmar Oil & Gas Conference will provide the

opportunity to understand the significant progress made over the last 16

months and network and share experiences with colleagues. It will cover

areas like Regional Geology & Tectonic Evolution, Depositional Systems

From Source to Sink, Petroleum Systems and Plays, Risk

reduction/management, and Innovation and Emerging Technologies.”

4 20-21 May 2020 Yangon Myanmar Power Development Summit Power and Energy “With a population of around 60 million, Myanmar ranks the lowest in

terms of electrification rate in the ASEAN countries as less than 40% of

its populations have access to electricity. The MPDS is going to invite

around 200 senior representatives from government, power producers

and utilities, investors, banks, law firms and suppliers to discuss the latest

development of Myanmar power industry and share insights into its future

prospects in an quickly evolving global energy mix.”


8 March 2020

PwC

PwC Myanmar


PwC Myanmar helps organisations and individuals create the value they’re looking for. Our firm comprises of highly qualified local professionals with years of international experience, supported by

domain experts from PwC Singapore; a combination that brings you in-depth, on-the-ground knowledge base while tapping on PwC’s global reach and expertise. We are committed to helping organisations

adapt their commercial interests successfully, transform and develop their operations, solve their business issues, and identify as well as maximise the opportunities they seek.

With the opening of our firm in Yangon on 6 November 2012, PwC Myanmar is a member firm of the PwC Network - comprising of a network of firms (with each being a separate legal entity) in 157

countries with more than 270,000 people, who are dedicated to working together, providing quality services to clients throughout the world.

PwC Service Offerings • Business strategy

• Busy-side due diligence

• Capital projects & infrastructure advisory

• Capital raising

• Corporatisation & Privatisation

• Direct and indirect taxation services

• Governance and controls

• Forensic services

• Incorporation and corporate secretarial services

• IFRS/Financial reporting advisory

• Joint venture & strategic alliance

• IT risk and security

• Post-deal integration

• Mergers and acquisition – sell side transaction support

• Mergers and acquisitions – financial Advisor

• Market entry advisory & market studies

• Stock market listing preparation

• Project assurance

• Pre-deal re-organisation

• Valuations advisory

Transforming Yangon

the Heart of Myanmar

Myanmar Business

Guide

Doing Business in

Yangon

IFRS 16 New Leasing

Standard Tax Updates

Fitting together the

pieces of the

infrastructure puzzle

Our Thought Leadership in Myanmar


© 2020 PricewaterhouseCoopers Myanmar Co. Ltd. All rights reserved. In this document, “PwC” refers to PricewaterhouseCoopers Myanmar Co. Ltd., which is a member firm of

PricewaterhouseCoopers International Limited, each member firm of which is a separate legal entity. Please see http://www.pwc.com/structure for further details.

PwC Myanmar Weekly Business Intelligence PublicationFor further information please contact:

Jennifer Tay

Partner

Capital Projects & Infrastructure, PwC Singapore

+65 8876 9300

[email protected]

Soe Moe Aung

Manager

Deal Advisory, Capital Projects & Infrastructure, PwC Myanmar

+95 968 082 3394

[email protected]

mailto:[email protected]

mailto:[email protected]


PwC Myanmar Weekly Business Intelligence · 2020-03-10 · 8 March 2020 PwC PwC Myanmar Weekly...

Documents

Transcript of PwC Myanmar Weekly Business Intelligence · 2020-03-10 · 8 March 2020 PwC PwC Myanmar Weekly...