May 2, 2016

US$140bn FDI target set for 2030

Total foreign direct investment (FDI) is estimated to reach US$140 billion by 2030, according to the 20-year national development plan.

Myanmar has drafted strategies to increase FDI as sanctions are lifted with the average annual rate expected to reach US$6 billion from 2017 to 2020 and US$8 billion from 2021 to 2030.

Source: Eleven Weekly Media

Thilawa shares ready for launch

Thilawa Special Economic Zone Public Company will start selling its shares at Yangon Stock Exchange (YSE) next week, according to the Myanmar Securities Exchange Supervisory Commission.

Of six listed companies, First Myanmar Investment is the first company to sell its shares and Thilawa SEZ is the second.

Dr Maung Maung Thein, chair of the commission, said: “It is estimated that Thilawa SEZ has fixed Friday of the last week of April for its inception. FMI will continue selling its shares.”

Source: Eleven Weekly Media

Ministry invites tender for hotel privatisation

The Ministry of Hotels and Tourism has invited an open tender to privatise hotels in Mrauk U, Rakhine State, and in Pyin Oo Lwin, Mandalay Region, on April 25.

The ministry said the Mruak U Hotel, which has 24 rooms and is built on a 5.54-acre plot, and the Gandama Myaing Hotel, which has five rooms and is built on a 2.96-acre plot in Pyin Oo Lwin, will be privatised.

The ministry will hold a briefing on May 5 to explain the criteria for bidders. Any bidder or representative of a bidder can attend the conference. Bidders can submit applications on May 6.

Source: Eleven Weekly Media

Real estate investment reaches US$3.7bn

Investment in real estate during the 2015-16 fiscal year exceeded US$3.7 billion, according to the Directorate of Investments and Company Administration.

Foreign investment made up more than US$3 billion of the total.

The manufacturing sector topped the list for domestic investment with more than US$2.3 billion, followed by real estate with US$694 million, according to the DICA.
Source: Eleven Weekly Media

Apr 25, 2016

Carlsberg Offers Myanmar Football Fans an Opportunity to Win a Trip to Euro 2016 Aung Phyo

Danish brewery group Carlsberg announced a lucky draw competition in Myanmar, where a winner, together with a friend, will have the chance to travel to France to watch the UEFA Euro 2016 semi-final and personally hand over the ‘Carlsberg Man of the Match’ trophy to the best player.

The winner will receive a ‘VIP experience’ for two - including an all-expenses paid trip to attend UEFA Euro 2016 which is one of the biggest football events in the world and it will be held in France from June 10 to July 10.

Carlsberg is the official sponsor and has been associated with the UEFA European Championship since 1988.

The event is expected to attract 2.5 million fans to the stadiums, including 1 million foreign visitors. The matches will be broadcast live in more than 230 territories around the world and around 7 billion viewers are expected to watch the UEFA Euro 2016 matches on TV.

A new competition format will see 24 teams taking part in the final tournament, instead of 16, which has been the case since 1996. There will be 51 matches - 20 more than in 2012.

Ashish Bista, Myanmar Carlsberg’s commercial director, said, “In Myanmar there is now a lucky draw coupon with every purchase of Carlsberg beer. The promotion ends on the 15th of May to enable the winners to prepare for the trip.

“The winner, together with a friend, not only win an all-expenses paid trip to France, but also they get to watch the Semi-Finals in Lyon and have the honour of awarding the best player the “Carlsberg Man of the Match Trophy” and, of course, enjoying exclusive Carlsberg hospitality”.

Football fans can participate in this competition wherever Carlsberg is available. Carlsberg draught can be found in select bars and restaurants, whereas Carlsberg Beer in bottles is available in bars and shops across the country.

The prize is non-transferable and cannot be exchanged for cash. Employees of Carlsberg, their relatives, agencies, suppliers, customers and those directly associated with the promotion are not eligible to participate.

Source: Myanmar Business Today

Steel Factory in Shan State to Open by July

The No.2 Steel Mill in Taunggyi township in Shan State will open within two months, according to the Ministry of Industry.

Using ore from the iron mine at Pin Pet region, the Ministry will produce steel using ‘Romelt process’ – a technology from Russia-based Tyazhprom Export. This process is used because it is less costly and compatible with the mineral found in Myanmar, according to a Ministry announcement.

The second-level test run occurred on March 20, and the plant is expected to open in June or by the first of July, according to MOI.

“This factory has been built based on the Pin Pet iron ore mines. From the waste products of this factory, 40 megawatts of electricity will be produced. Out of this, 15 percent will be returned to the national power grids,” a Ministry official said.

The factory will produce 200,000 tonnes of pig iron annually pulling from the roughly 70 million tonnes of iron ore in the area. It will be the first iron smelter in the Pin Pet region.

Source: Myanmar Business Today

Apr 20, 2016

Inaugural FinTech and Agent Banking Summit Heats Up the Mobile Money Revolution in Myanmar

Yangon, Myanmar - 20 April 2016 - There is cause for much excitement in the
mobile money industry as the Central Bank of Myanmar has just released
regulations on mobile financial services allowing participation from non-banking
financial institutions. This move is expected to build a more enabling regulatory
framework for efficient and secure mobile financial services in a country where the
majority of the population remain unbanked.

Recognizing this imminent development crucial to the success of mobile money
operations in Myanmar, the inaugural Emerging Asia FinTech & Agent Banking
Summit 2016, to be held at the PARKROYAL Yangon hotel on the 17th and 18th of
May, is poised to dive deep into mobile money issues with agent banking topics
taking centre stage. The importance of financial technologies in the ecosystem will
also be keenly deliberated upon.

Speakers who will share their insights and dissect critical issues pertinent to the
development of mobile money operations include key representatives from
Myanmar Citizens Bank, AYA Bank and Myanmar Agricultural Development
Bank. Experts from the World Bank and the International Finance Corporation
(IFC) will also be in attendance.

Leading technology providers such as ModeFinServer and True Money will
showcase their expertise through informative presentations on stage as well as
displays at the exhibition hall. Mobile money provider Wave Money and Myanmar
FinTech start-ups such as MyPay will be sharing their expert opinions together with
updated advice from the regulatory authorities. The engaging dialogue will come full
circle with closing panel discussions that will allow both speakers and delegates to
deepen and complete the exchange of critical views and information.

Maggie Tan, CEO of the event's organizer, Magenta Global, said: “One key objective
of this summit is to emphasize the importance of the distribution network which is
crucial in a successful mobile money operation. The agent banking model reflects
well on the importance of distribution, and together with effective and secure
financial technologies, provides a proven recipe that will work best with thorough end
user education, adoption and a supportive regulatory environment. There will be
many interesting issues to be dissected - especially in the Myanmar context - and we
look forward to another meaningful summit for everyone.”

Media Contact:
Mr Jose Carpio
International Marketing Manager
DID: +65 6392 2535
Main: +65 6392 2552

Notes for the Editor:
About Magenta Global – Owner & Organizer
Magenta Global Pte Ltd is a premier independent business media company that provides pragmatic
and relevant information to government and business executives and professionals worldwide. The
organization provides the opportunity to share thought-provoking insights, exchange ideas on the
latest industry trends and technological developments with thought leaders and business peers. With
a strong focus in emerging economies especially in Africa, Middle East and Central Asia, Magenta
Global works in partnership with both the public and private sectors.