Myanmar Business Today - Vol 2, issue 3

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Myanmar Business Today is Myanmar’s first bilingual (English-Myanmar) business newspaper, distributed in both Myanmar and Thailand. MBT covers a range of news encompassing local business stories, special reports and in-depth analysis focusing on Myanmar’s nascent economy, investment and finance, business opportunities, foreign trade, property and real estate, automobile, among others. MBT also provides detailed coverage of regional (ASEAN) and international business stories.

Myanmar Business Today’s target readers are foreign and local investors, businesspeople and government officials, and our advertisers are also those who try to reach this niche market in Myanmar. We provide best solutions for our advertisers with our content, outstanding print and paper quality, and superior distribution chain. We convey our advertisers’ messages to readers not only in Myanmar but also in Thailand, Southeast Asia’s second largest economy.

For more information please visit our website www.mmbiztoday.com.

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Myanmar Business Today - Vol 2, issue 3

  1. 1. mmbiztoday.com MYANMAR’S FIRST BILINGUAL BUSINESS JOURNAL Fiscal Crisis Looms Over Myanmar Sans Public Finance Reforms January 16-22, 2014 | Vol 2, Issue 3 Myanmar One of The Top Countries to Invest in 2014, But Risks Remain The only country to significantly improve its risk profile last year: analysts Kyaw Min M said in a report. Soe Zeya Tun/Reuters (LRERA), Maplecroft said Myanmar has made strides through reforms to address issues such as corruption, rule of law, the regulatory framework, respect for property rights and corporate LRERA scoring system,” said the report. Josh Wood T ax reform may not be sexy, but Myanmar’s consolidation. A combination of well-intentioned reforms and position. If the current methods structured quickly, a debt crisis is a real possibility. At present, Myanmar’s public debt as a percentage of gross cially estimated at 45.7 percent, Myanmar, with its long history of instability and economic mismanagement, could maintain the good graces of global capital markets if public debt remained Contd. P 6... Myanmar Summary taumufcejf yKjyifajymif;vJrrm jrefrm G I S Edii zGUH NzKd ;paps;uGup;D yGm;a&;twGuf k f H f ta&;ygNyD; vdktyfaeovdk b@ma&; cdirmawmifwif;rIrmvnf; trSewu,f k f h S f ta&;ygaomtcsuwpfcjk zpfonf/ ,ck f vuf&dS trsm;jynfob@ma&;pnf;pepf l tm; jyef v nf j yKjyif w nf a qmuf rI ukd vsiv sijf refjrefraqmif&ucvQif a<u;NrD f G f hJ jyóemudk qdk;&Gm;aomtajctaewpf &yftjzpf awGUjrif&vdrfhrnfjzpfonf/ Contd. P 6... clarity around essential issues such as foreign ownership limits and land leasing rules. Contd. P 22... Myanmar Summary vmrIudktjcm;EdkifiHr sm;xufyraqmif&uEicaMumif;,lautajcpdkufurÇmvHk;qdkif kd kd G f kd f hJ &mpG e f Y p m;&if q d k i f & rnfh t ajctaersm;ESihfr[mAsL [mtwdkifyifc Hvkyfief;jzpfonfh Maplecroft u ppfwrf;wpfckwGif azmfjyxm;onf/ tqdkygtwdkifyifcHvkyfief; ESpfpOf avhvmoHk;oyfaom ig;Budrfajrmuf Legal and Regulatory Environment Risk Atlas (LRERA) ppfwrf;wGif jrefrmEdkifiHonf tusifhysufjcpm;rIr sm;? w&m;Oya'pdk;rdk;a&;? pnf;rsOf;pnf;urf;rsm; Contd. P 22...
  2. 2. LOCAL BIZ 2 Myanmar Business Today mmbiztoday.com January 16-22, 2014 Package for Myanmar MYANMAR’S FIRST BILINGUAL BUSINESS JOURNAL Board of Editors Editor-in-Chief - Sherpa Hossainy Reporters & Writers Sherpa Hossainy,Kyaw Min, Shein Thu Aung, Phyu Thit Lwin, Htet Aung, Su Su, Aye Myat, Daisuke Lon, Yasumasa Hisada Art & Design Zarni Min Naing (Circle) DTP May Su Hlaing Translators taking place, he said. Phyu Thit Lwin I n a string of generous aid packages Japan $100 million (¥10 billion) in additional aid to Myanmar to support the country’s peace process and help national reconciliaAt a press conference in Yangon, Japanese Ambassador Mikio Numata said Tokyo plans for the Shein Thu Aung, Phyu Maung anmar’s war-torn ethnic areas. The aids will be contributed through Japanese NGOs running in Myanmar and upon ethnic groups. Nippon Foundation Chairman Yohei Sasakawa, who co-hosted the press conference, said he saw the need for help during Advertising “I saw the refugees and they told me they do not cine or shelter,” Sasakawa said. “First of all, we will and staple medicines.” The fund will be extended only after ceasethe security of the work groups who are to work in ing Kachin state where armed clashes are still billion in foreign debt owed by Myanmar and bridge loan to clear the Southeast Asian nation’s arrears with international After decades of military nic rebel groups, Myanmar has begun a process of political reform and with former combatants. Tay Zar Zaw Win, Seint Seint Aye, Moe Hsann Pann Advertising Hotline - 09 7323 6758 Subscription & Circulation Aung Khin Sint - aksint2008@gmail.com 092043559 Nilar Myint - manilarmyint76@gmail.com 09421085511 Managing Director Prasert Lekavanichkajorn pkajorn@hotmail.com Email Editor - sherpa.hossainy@gmail.com Advertising - sales.mbtweekly@gmail.com Designer - zarni.circle@gmail.com Adam Dean/NY Times Phone Editor - 09 42110 8150 Designer - 09 7310 5793 Publisher U Myo Oo (04622) No. 1A-3, Myintha 11th Street, South Okkalapa Township, Yangon. Tel: 951-850 0763, Fax: 951-8603288 ext: 007 Distributor (Bangkok) Penbun Distribution Co., Ltd. Tel: (662) 6158625-33 Fax: (662) 6158634 Myanmar Summary jrefrmtpdk;&ESifh wdkif;&if;om; vlrsKd;pkr sm;tMum; aqmif&Guf vsuf&dSa om Nid r f ; csrf ; a&;azmf aqmif r I vky f ief ; BudK ;yrf ; tm; xkwrtwGuf &nf&,í y#dyu© f I G f 'PfcHpm;aeMu&onfh wdkif;&if; om;rsm;twGuf *syef,rf; 10 bDv,ukd 5 ESptwGi;f axmufyHh D H f ay;oGm;rnf[k Zefe0g&Dv 6 &ufaeYu csux&D,[w,fwif f H kd G usif;yjyKvkyfaom pme,fZif; &Sif;vif;yGJrS od&onf/ xdoaxmufy&mwGif jynfwi;f k kYd hH G ü vkyfudkifv suf&Sdonfh *syef NGO tzGUJ tpnf;rsm;rS wpfqifh ay;tyfoGm;rnfjzpfN yD; ? jrefrm tpdk;& w&m;0ifoabmwlnDrI &&Sdvmygu wdkif;&if;om;vlrsKd;pk rsm;rSmvnf; vufcHaom tzGJU tpnf;rsKd;jzpf&rnfjzpfonf/ ,ckuJhodkU aqmif&Guf&jcif;rSm y#d y u© ' Pf c H p m;aeMu&aom wdkif;&if;om;vlrsdK;pkrsm; aexdkif &ma'orsm;wGif vlaerIb0jr§ifh wifEdkif&ef &nf&G,faMumif;? wpf EdkifiHvk;H typftcwf&yfpJa&; pmcsKyfrsm;csKyfqdkEdkif&eftwGuf udkvnf; BudKqdkrIwpfcktaejzifh aqmif&Gufjcif;jzpfaMumif; *syef tpdk;& jrefrmEdkifiHtrsKd;om; jyefvnfoifjh rwfa&;qdi&m txl; k f udk,fpm;vS,f ajymMum;csuf t& od&onf/
  3. 3. 3 LOCAL BIZ Myanmar Business Today mmbiztoday.com January 16-22, 2014 The International Monetary Fund in its recent country report said Myanmar’s economy will grow 6.75 percent in the by natural gas sales, construction and foreign Myanmar Summary U Aung/Xinhua plan for 2014-15 targets Aye Myat T he Myanmar paring to submit its state budget bill for March) to the ongoing parliament sessions for The State Budget Bill 2014 and Taxation Bill 2014 are also expected to be submitted, according The 9th parliament sessions resumed on January Financial Commission in Nay Pyi Taw last week that more funds could be allocated to the local enues of more than K16 billion), he said, adding ment shared about K1.5 and loaned more than K25 billion ($25.5 million) to them. The estimated gross domestic product (GDP) for 2014 is K66.197 trillion ($67.55 billion), accord- the rest. In the upcoming the health and education sectors would see increased budget allocation, stressing the need to to tax payers if more tax The president also disclosed that in the coming employees’ salaries will be raised along with pension and other allowances on a proportional basis. drawing up a “peoplecentred plan” in a bid to year 2014-15, he said. commission that the plan will conform to the need of Myanmar and its political, economic and social relations with neighbouring countries. human resources, and double domestic producder to reach an 8 percent gross domestic product growth. sectors as industry, agriculture, infrastructure, energy, mining, earned the rest. Of the total expenditure, the communication. Myanmar’s draft national The goal for growth of the agriculture sector, 10.4 percent in the industry sector and 12.4 percent in the percent for Yangon, 12.4 percent for Mandalay and 28.2 percent for Nay Pyi Taw. jrefrmtpdk;&taejzifh vmrnfh vTwfawmfaqG;aEG;yGJwGif 201415 b@ma&;ESpftwGuf EdkifiHh toHk;p&dwfrlMurf;udk wifoGif; oGm;&ef jyifqifaeaMumif; od& onf/ 2014 EdkifiHhtoHk;p&dwfESifh taumufcGefrlMurf;rsm;udk vTwf awmf w G i f wif o G i f ; oGm ;zG,f&dS aMumif;vnf; tpdk;&trIaqmif rsm; ajymMum;csuft&od&onf/ 9 Budrajrmufvwawmftpnf; f T f ta0;tm; Zefe0g&Dv 13 &uf aeYwGif jyKvkyfusif;yoGm;rnfjzpf onf/ a'oqdkif&m tpdk;&tzGJU tpnf ; rsm;twGuf bwf * suf yrmPtm; ydkrdkcGJa0ay;oGm;zG,f &SdaMumif; Ed k i f iH awmf or® w OD;odef;pdeu tpd;k & b@ma&; f yd k i f ; qd k i f &m aumf r &Sif t zGJ U tm; aejynf a wmf w G i f vG e f c J h o nf h tywfu ajymMum;cJhonf/ 2013-14 b@ma&;ESpfwGif jrefrmEdkifiHtaejzifh usyfaiG 16 x&DvD,H (tar&duefa':vm 16.32 bDvD,H) ausmf &&SdcJhNyD; toHk;p&dwfrSm usyfaiG 19 x&D vD,H (tar&duefa':vm 19.39 bDvD,H) &SdcJhaMumif;vnf; od& um A[dktpdk;&rS usyfaiG 1.5 x&D v D , H (tar&d u ef a ':vm 1. bDvD,H) tm; a'oqdkif&m 53 tpd k ; &tzG J U tpnf ; rsm;twGuf cGa0ay;cJNh yD; usyaiG 25 bDv,H J f D (tar&duefa':vm 25. rDv,) 5 D H txdvnf; acs;aiGcsay;cJaMumif; h od&onf/ 2014 ckESpftwGuf cefYrSef; xm;aom pkpaygif; wdi;f jynfxwf k k k ukefwefzdk;rSm usyfaiG 66. 197 x&DvD,H (tar&duefa':vm 67 .55 bD vD ,H ) jzpf a Mumif; w&m;0iftcsuftvufr sm;t& od&onf/
  4. 4. 4 LOCAL BIZ Myanmar Business Today mmbiztoday.com January 16-22, 2014 Scomi Energy Wins Using ‘Myanmar’ Diplomatic Courtesy: US Contracts in Myanmar Htet Aung M formerly known as Scomi Marine Bhd, has secured two contracts worth $27.9 million from Petronas solid control, well bore cleanout, drilling waste management area for SESB, the company said. Petronas, PTTEPI and Daewoo. With this award, SESB’s operations continue to grow in Myanmar and push the group’s orderbook to $1.58 billion. Myanmar Summary [k ,cifu od&SMd uaom rav;&Sm;tajcpduf k Scomi Energy Services Bhd (SESB) onf Petronas Carigali Myanmar Inc (PCMI) ESifh Petronas Carigali (Hong Kong) Ltd (PCML)wdkYrS tar&duefa':vm27.9rDvD,Hwefzdk;&Sdonfh vkyfief;oabm wlnDrIudk &&SdcJhaMumif; od&onf/ tqdkygvkyfief;oabmwlnDcsufrsm;rSm oHk;ESpfwmoabmwlnDcsufjzpfNyD; SESB taejzifh PCMI ESifh ZlvivwGif vkyief;pwifaqmif&u&efarQmf kd f f G f rSe;f xm;aMumif;vnf; od&onf/ PetronasESifhyl;aygif;vkyfaqmif&onf h twGuftvGefyif0rf; ajrmufaMumif; ESifh2004ckESpfwGifvnf;rdrdwdkYtaejzifh urf;vGea&eHw;l azmfrvyief;rsm;udk f I k f vnf; aqmif&ucaMumif; SESB pDtD;tdkjzpfol Shah Hakim Zain G f hJ u ajymMum;cJonf/ SESB onf jrefrmEdiiwif 2003 ckEpuwnf;rSpí vkyf h k f H G S f ief;rsm; aqmif&GufcJhonf/ Scomi Marine Bhd Susan Walsh/Reuters The contract awards are for a period of three years. SESB expects work to start with PCMI in July. “We are pleased to work together with Petronas once again Shein Thu Aung T name Myanmar instead of Burma as a “diplomatic courtesy” to the Asian country, the State Department said last week, in a sign of reconciliation. Myanmar’s military junta name to “Myanmar” in 1989, saying that the old term “Burma” was a legacy of British colonialism and implied that the country belongs only to the ethnic Burman majority. The opposition and exiles pendence day. The statement made no mention of “Burma.” Deputy State Department reporters that “it continues to refer to the country as Burma,” according to an AFP report. the country as Myanmar as a diplomatic courtesy,” she added, citing President Barack in solidarity by calling the nation Burma. in 2012 when he alternated between the two. “I don’t think there’s a confusion,” she said. In October, Kerry said the longtime pariah state’s dramatic political reforms were “exciting” but still “incomplete.” As part of its reconciliation with Myanmar, which included State John Kerry twice referred the Southeast Asian country as “Myanmar” in a statement marking the country’s inde- and ended most economic sanctions on the resource-rich and strategically placed country. seeing it as a symbolic step to create an entirely new country, Myanmar Summary tar&duefEdkifiHtaejzifh jrefrmEdkifiH udk Burma tpm; Myanmar [k &Hzef&cgwGif toHk;jyKNyD; jrefrmEdiiokYd oH H k f H wref,Ofaus;rIoabmxm;tm; jyo jcif;jzpfaMumif; od&onf/ jrefrmEdii ppftpdk;&rS Edii w&m; k f H k f H 0iftrnftm; Myanmar [k 1989 ckESpfwGif ajymif;vJcJhonf/ Burma [laomtac:ta0:rSm NAdwdo QudkvdkeD pepf v uf a tmuf okdY usa&muf p Of u oHk;EIef;cJhjcif;jzpfNyD; Burman vlr sKd; trsm;pkuk d &nfñTef;íac:a0:oHk;EIef;cJh jcif;jzpfaMumif; od&onf/ ,if;odkY EdiiH k f trnftm; ajymif;vJac:a0:oH;k EIe;f rI tm; jyif;xefpGm qefYu sifcJhMuNyD; EdkifiH topfwpfcktjzpf wnfaxmifvdkaom oP²mefwpfctjzpf ½jI rifchMJ uovdk tar k &dueftaejzifhvnf; Burma [kyif qufvufac:a0:cJonf/ odkYaomfvnf; h tar&duefEdkifiH EdkifiHjcm;a&;0efBuD; *Refu,f&Du jrefrmEdkifiH vGwfvyf a&;aeY tm; *k P f j yKajymMum;&mwGif Myanmar [k &nfñe;íoHk ;EIef;cJonf/ T f h
  5. 5. LOCAL BIZ 5 Myanmar Business Today mmbiztoday.com January 16-22, 2014 Completes first rights issue; demand drives additional public offering new ordinary share for Kyaw Min F irst Myanmar shares held. Other projects include the expansion of existing operations in the tourism - ment holding company in Myanmar, has started to issue an additional 250,000 new ordinary shares to the public citing from existing shareholders and a “broad interest” from the public. The company started Thursday last week at a price of K10,000 ($10.15) each, it said in a statement. On January 8, FMI completed the rights issue of 2,500,000 new ordinary shares at an issue price of K10,000 per shares to existing shareholders. Shareholders were entitled to subscribe for one has for FMI’s long-term 10 business days, and FMI said the public can place their subscriptions through the FMI Share Department and Trading Centre by 6pm on January 22. Shares will be allotted Wai, chairman of FMI. “The additional share the building up of FMI Air following the grant of a temporary air opera- market capitalisation and enlarge its shareholder in basis and subject to the sole discretion of the board on the allotment, the company said. Proceeds from the additional share issuance will be growth and expansion of existing businesses of the FMI group of companies, it said. “Our decision to launch more shares is due to the Foreign Bank Operations by 2014 “Unlikely” Phyu Thit Lwin F the public, and this is a strong testament to the discussion and no exact time has been set, a top “We are still holding dialogues about the issue [of foreign banks operating in Myanmar]. The reports that foreign banks will be allowed to operate in 2014 through JV with local banks are absolutely wrong,” the Myanmar Business Today on condition of anonymity. tor more and we are waiting for the Currency Law and “You need proper laws, rules and procedures to launch foreign banks. The Currency Law is still on the way to be enacted. So, it is unlikely that foreign banks of Myanmar, said. Myanmar entrepreneurs say it is impossible for local the interest rate is also high. “If foreign banks can start their operations local businesses will start growing,” an entrepreneur said. Myanmar Summary jrefrmEdiiwiEiijH cm;bPfrsm;zGi&efcijhf yKom;rnfjzpfaomfvnf; k f H G f kd f hf G G vuf&SdtcsdefwGif4if;udpötwGufaqG;aEG;qJtqifhwGifom&SdaejyD; cGifhjyKrnfhtcsdeftwdtusrod&ao;aMumif;jrefrmEdkifiHbPf rsm; toif;rSajyma&;qdkcGifh&SdolwpfOD;u Myanmar Business Today odkUajymonf/ opportunities for more Myanmar nationals to be part of FMI’s growth and success as we embark on a number of transformational projects in the country.” The capital raised from company projects that include the Thilawa Special Economic Zone (SEZ), in which FMI has committed to subscribe for between 5 and 9 percent of the Myanmar consortium. The funds raised from also be used to help increase the paid up capital of Yoma Bank. Last month, FMI, along with Yoma Strategic companies to distribute Meeyahta Interna- mixed used property deYangon comprising two a retail shopping mall, a are underway to construct a 46-room international standard hotel with conference and banquet high-end condominium. “We want to further strengthen our cash position so that we can proac- Golf Estate, FMI said. operations and create start-up opportunities in the next two to three jrefrmEkdifiHü &if;ESD;jrSKyfESHrIvkyf ief ; rsm;aqmif & G u f a eonf h who is also the chairman of Yoma Bank. Contd. P 19... Myanmar Summary First Myanmar Investment (FMI) ukrÜPDonf ukrÜPD vuf & S d t pk & S , f , m&S i f r sm ;tm; &S,,mwpfcvQif usyf 10000 f k EIe;f jzifh &S,,mtopf 2500000 f udkatmifjrifpGm a&mif;csay;EkdifcJh onfhtwGuf txl;*kPf,l0rf; ajrmufaMumif;od&onf/ ukrÜPD vuf&Sdtpk&S,f,m &Sifrsm; wpfcJeuftm;ay;rI? trsm;jynfolwkdY pdwfyg0ifpm; ukrÜPD rIwkdYaMumifh FMI taejzifh ykHrSeftpk&S,f,mopf pkpkaygif; 250000 ukd tpk &S,f,mwpfckvQif usyf 10000 EIef;jzifh Zefe0g&Dv 9 &ufaeY rSpí trsm;NynfotwGuf xyfrH l a&mif;csoGm;&ef pDpOfxm;onf/ tpk&S,f,mrsm; xyfrHa&mif;csrI ukd ½H;k zGi&uf 10 &ufwmtwGi;f hf xyfrHzGifhvSpfay;oGm;rnfjzpfNyD; &S,f,m 0,f,lvkdolrsm;taejzifh Zefe0g&D 22 &uf nae 6em&D FMI xufaemufrusapbJ ukrÜPDtpk&S,f,mXmeESihf &S,f Contd. P 19...
  6. 6. LOCAL BIZ 6 Myanmar Business Today mmbiztoday.com January 16-22, 2014 Govt Employees to Get Pay Hike According to an announce- Shein Thu Aung T - employees starting the Thein Sein at a Financial Commission meeting in the capital dent said. salaries will be increased by K20,000 ($20) in the coming in April. “Those carrying out the duincreased allowance from time to time. The increase follows Sein, who is also chairman of the commission, said. Pensions and other allowances will also be increased proportionately, he added. The proposed pay rise will be submitted to the upcoming parThis is the third time Presi- 2011. Myanmar Summary Soe Zeya Tun/Reuters vmrnfh b @ma&;ES p f r S p í tpd k ; & 0efxrf;rsm;tm; vpmwdk;jr§ifhay;oGm; xdirp&dwr sm;jrifwufvmrIukd umrd&ef k f I f h ESifh vlaerItqiftwef;wd;k wufvmap h &eftwGufjzpfaMumif; or®wOD;odef;pdef will lead to a quick drying up of the existing trickle of foreign system, the amended foreign suicide. and a tax-to-GDP ratio of only In the 18 months remaining in Thein Sein’s term, the army - - reasonable changes to ensure There is growing concern that the rents on which public debt has so far been kept at bay term. Simultaneously, he must sustain the reformist momen- present system of tax and spend is reformed and regularised, Myanmar’s credit rating will start to sink. The biggest worry for Myanfrom natural resources. Thanks to a rich endowment of natural gas, oil, jade, precious gems, would be the introduction of greater transparency within the mar are not centrally collected and accounted for by the Min- be undertaken before the 2015 of gems, exploitation of oil and gas, running public utilities and undertaking industrial farming try of Mines, the Ministry of Oil and Gas and so on. then authorised to allocate the direction. put capital into Myanmar; they and may momentarily attract the interest of foreign capital, a debt crisis would quickly send Introduced with lukewarm appassing on the remainder to the Myanmar. To encourage foreign are at present strong, they guard against mounting public nature, demands a rethink of SOEs would go a long way to- inadequate infrastructure is the most pressing concern of much-needed legal framework upon foreign export earnings. Gas sales alone account for an estimated 15 percent of GDP. To be sure, such a transformation will take time. But a simple publishing of each minister’s budgets, the contracts they un- from state-owned enterprises his administration – as well as continue the longer-term projects, many of them necessar- and contributes to Myanmar’s perennial abysmal position in global corruption rankings. ous junta are suspected of directing millions of unaccounted for dollars towards family and crony businesses through their powerful positions, draining Myanmar. The country clearly needs new and better roads, more power, and new and expanded ports to sustain longtransparency and a more reasonable taxation system would the risk of future default and the passage of the Myanmar gain. strategies. better managed? It is a question with multiple answers, few of them easy and hardly any of them popular. But President Thein Sein and his ministers slightest hint of a debt crisis ment is certainly fairer but also short-sighted. Now, both local and for the sake of justice and must be reformed. Centralised possibility of an extension thereafter. For a country with no consumption taxes and a rarely enforced income tax u ajymMum;cJhonf/ aejynfawmfü jyKvkyfaom b@ma&; aumfr&SifawGUqHkaqG;aEG;yGJwpfckwGif or®wOD;odef;pdef xkwfjyefaMunm csuft& {NyDvwGif pwifaom vmrnfh 2014-15 b@ma&;ESpfwGif tpdk;& 0efxrf;rsm;vpmrsm;taejzifh usyf aiG 20000 (tar&duefa':vm 20) txd ydkrdk&&SdvmrnfjzpfaMumif;vnf; od&onf/ EdkifiH wm0efudk xrf;aqmif aeaom 0efxrf;rsm;taejzifh tcsef d tydkif;tjcm;tvdkuf vpmwdk;jr§ifhrIr sm; udk cHpm;&&S om;rnfjzpfaMumif;vnf; d G od&onf/ tpdk;&0efxrf;rsm; vpm&&SdrIenf; yg;vQif4if;wdkYvlrItouf&SifaexdkifrI b0tcuftcJrsm;udkajz&Sif;&mwGifydkrdk tMuyf t wnf ; ES i f h a wG U BuH K &Ed k i f o vd k tusifhysufjcpm;rIrsm;vnf;&SdvmEdkif onf / ,ck u J h o d k Y E d k i f i H h w m0ef t m;xrf ; aqmifaeaomtpdk;&0efxrf;rsm;tm; vpmwdk;jrSifhay;rIaMumifh 0efxrf;rsm; taejzif h v nf ; yd k r d k a umif ; rG e f a om vlaerIb0udkzefwD;vmEdkifrnfjzpfovdk tusif h y suf j cpm;rI r sm;vnf ; avsmh y g; oGm;vdrfhrnfyifjzpfonf/ be asserted, the estimated thousands of other ministerial accounts must be put on public record, and SOEs must be liable to same rules and taxes which Josh Wood is a Visiting Research Fellow at the Myanmar Development Institute’s Centre for Economic and Social Development (MDRI-CESD). He also manages the Crawford School’s Myanmar Development Program at the Australian National University. ,ckvuf&SdtcsefwGif jrefrmEdkifiH d a<u;Nrrm pkpaygif;jynfwi;f xkwue D S k G f k f 45.7 &mcdkifEIef;txdyif&SdaeaMumif; w&m;0ifcefYrSef;wGufcsufrIrsm;t& od& onf/ ,if;yrmPrSm urÇmpEe;f rsm;t& h H I qdkvQif yHkrSeftaetxm;wpf&yfr[kwf ay/tcsdefMum&Snpm rwnfNidrfrIr sm;ESifh f G pD;yGm;a&;pDrHcefYcGJrIvGJacsmfrIr sm;&SdcJhaom jrefrmEdkifiHuJhokYd zGHUNzdK;qJEdkifiHwpfEdkifiH taejzifh a<u;Nrtm; tweftoiftae D h txm;wG i f xd e f ; od r f ; xm;Edkif cJ h ygu urÇmvHk;qdkif&m aiGvHk;aiG&if;aps;uGuf rsm;twGuf tajctaeaumif;wpf&yf yifjzpfvdrfhrnfjzpfonf/ odkYaomfvnf; tpdk;& 0ifaiGESifhywf ouf onf h a qmif &G uf c suf rsm ; ESif h taumuf c G e f E S i hf pk p k a ygif ; jynf w G i f ; xkwf ukeftcsKd; 3. &mcdkifEIef;udkvnf; 22 &efukeftajcpdkuf &if;ESD;jr§KyfESHolrsm;u pdk;&drfrIrsm;&Sdaeonf/ a<u;NrDtajctae tm; a&&SnfwnfwHhaumif;rGefatmif xdef;xm;Edkif&efudkvnf; pdk;&drfrIr sm;&Sdae onf / vuf &dS taumuf c G e f p epf Eifh S toHk;p&dwr sm;tm; jyKjyifajymif;vJrEihf f I S pepfwusMuyfrwfrrjyKvycvQif jrefrm I k f hJ Ediitaejzifh txdemrnfta&;uvnf; k f H h &Sdaeonf/ tBuD;rm;qHk;pdk;&drfrIwpfckrSm jrefrmEdii b@ma&;tajctaeonf k f H obm0o,HZmwrsm;rS 0ifaiGtay: wGif rsm;pGmrSc&yfwnfae&jcif;jzpfonf/ D kd obm0"mwfaiGU? a&eH? ausmufpdrf;? wef z d k ; BuD ; ausmuf r suf & wemrsm;ES i f h uRef;opfwdkYrS&&Sdaom0ifaiGtay:wGif rsm;pGm&yf w nf a e&jcif ; yif j zpf o nf / "mwf a iG U a&mif ; csrI w pf c k w nf ; rS m yif pkpaygif;jynfwi;f xkwue 15 &mcdif k G f k f k EIef;txd &Sdaeonf/
  7. 7. 7 Myanmar Business Today January 16-22, 2014 mmbiztoday.com
  8. 8. LOCAL BIZ 8 Myanmar Business Today mmbiztoday.com January 16-22, 2014 interfere in Myanmar’s internal Aye Myat C hinese Ambassador to further expand people-topeople contact and cultural to strengthening coordination and cooperation international and last week stressed on the Yang said China always supof peaceful coexistence,” which were initiated by China, Myanmar and India in 1950s. “The Chinese side always respect the choice and decision made by the Myanmar people in terms of political system and the main tone of the relations between the two countries. “China wants to see a peaceful, stable and prosperous Myanmar which is in line with the interest of the people of Myanmar, China and other countries in the region,” he said. - Kiyoshi Ota/Japan Times (fraternal) friendship and strengthening of win-win cooperation with Myanmar. Yang made the remarks in his speech at Myanmar Institute for Strategic and International Studies (MISIS) in Yangon. Speaking on China-Myanmar relations, Yang said mutual ben- cooperation in recent years has maintained a good momentum assumption of ASEAN chairwill continue to be expanded between the two countries, he added. strain in China-Myanmar relations following the Southeast Asian nation’s unprecedented political and social transforma- Myanmar, Japan to Work on Communications, Postal Services Su Su Noting that China’s neighbourhood is crucial to its securi- M Yang said the new generation of the central leadership of China attaches great importance to the surrounding areas and peripheral diplomacy. sectors. It was discussed when MyanU Aung/Xinha peaceful, stable and prosperous that China will use its economic - Myanmar Summary with Myanmar on hosting the recently-concluded 27th Southeast Asian Games has strengthened the two countries’ relations. In terms of building ChinaMyanmar relations, the ambassador raised a four-point proposal: to continuously deepen mutual strategic trust, to continue to expand mutu- yanmar and Japan will cooperate in a range of sectors including com- jrefrmEdkifiHqdkif&m w½kwfoHtrwfjzpf onfh Yang Houlan onf ESpfEdkifiHc spf Munf&if;ESD;rIESifh ESpfOD;ESpfzuftusKd;rsm; aponfh yl ; aygif ; aqmif & G u f r I r sm;udk rSwfcsufay;ajymMum;cJhaMumif; od& onf/ Yang taejzifh &efukef&Sd Myanmar Institute for Strategic and International Studies (MISIS) wGif onf/w½kwf-jrefrmqufqa&;taMumif; H tm; ajymMum;&mwGif ESpEiipvHk;tusKd; f kd f H cHpm;&NyD; ESpfOD;ESpfzuf aumif;usKd;&&Sd apaom yl;aygif;aqmif&GufrIrsm;onf jrefrmEdkifiHESifh w½kwfEdkifiHwdkY t"du ajymMum;cJhonf/ xdkYjyif vGefcJhonfh 2 ESpfcefYrSpí tm;oGecepuBf uKd ;yrf;aqmif&uconfh f G f kd G f hJ jrefrmEdkifiH EdkifiHa&;ESif h vlrIa&;jyKjyif ajymif;vJrIr sm;taMumif;udkvnf; ajym Mum;cJhonf/ Communication Minister of Japan Yoshitaka Shindo in Nay Pyi Taw. They also discussed Japan’s nancial assistance to strengthen Myanmar’s police force and conducting technical courses for Myanmar. the Japan-Myanmar Parliamentarian Friendship League Ichino Aisawa focused on Myanmar’s cooperation with the Japan International Cooperaloan from Japan. JICA has been cooperating with Myanmar in building infrastructural projects and prothe ODA loan and assistance. The Japanese aid projects and airports as well as urban Myanmar Summary jref r mEd k i f i H E S ifh *syef E d k i f i H w d k Y o nf qufoG,fa&;ESifh pmydkY0efaqmifrIu@ rsm;tygt0if u@toD;oD;ü yl;aygif; aqmif&GufoGm;rnfjzpfaMumif; od& onf/ Ed k i f i H a wmf o r® w OD ; od e f ; pd e f o nf *syefEii jynfxa&;ESiqufo,a&; kd f H J hf G f 0efBuD; Yoshitaka Shindo ESifh aejynf awmfwif awGUqHaqG;aEG;cJaMumif;vnf; G k h od&onf/ xdkYtjyif jrefrmEdkifiH &Jrsm; tm; enf;ynmESif h aiGaMu;taxmuf tyHhr sm;udpö&yfrsm;ESifh oifwef;ay;tpD tpOfrsm;udk *syefEdkifiHrS axmufyHhay; &eftpDtpOfr sm;udkvnf; aqG;aEG;cJhMu aMumif; od&onf/
  9. 9. LOCAL BIZ 9 Myanmar Business Today mmbiztoday.com January 16-22, 2014 VDB Loi Myanmar Summary Kyaw Min V DB Loi, a Myanmar law and doubled its presence in the country by becoming are made.” Edwin Vanderbruggen, VDB Loi’s partner in charge of Myanmar, said: “Our clients need constant support in the capital, particularly at the outset of their project. We with a fully operating ofstatement. present in Yangon since 2012, where it employs were able to secure premises that are extremely central and spacious.” including those focusing on MIC permits, import up its existing Nay Pyi and operating licences. “We will also be running support hub to a fully cal assistance work for the its strategy of meeting clients’ needs for prompt ernment decision makers. ministries to follow, some of which we need to talk to on a daily basis. There is just nothing like actual face-to-face, personal contact. You need to be in Yangon for your clients, but you need to be in Nay Pyi Taw to get the client’s managing partner Jean Loi said. “Time is essential on that we can speed up the process considerably by where so many decisions out of the capital,” Edwin added. VDB Loi had assisted bidders in last year’s telecommunications licence tender, as well as tower companies and network to one of the two licence winners, Ooredoo, the and operating licences. Another area VDB Loi has focused on for the past year was oil and gas. It assisted three of the “supermajors” with deepwater plays, and giant Woodside on its two farm-in transactions. and energy engagements, such as the Thilawa Speuse real estate projects. ment projects, while its Oya'ESifhtBuay;vkyief;wpfck H f jzpfonfh VDB Loi onf jrefrmEdii tkycsKya&;NrKd Uawmf k f H f f aejynfawmfwGif vkyfief;aqmif &GufcGifhtjynfht0&&Sdxm;onfh ½Hk;wpfck&Sdaeovdk jrefrmEdkifiH twGi;f yxrOD;qH;k EdiijH cm;Oya' k f vk y f i ef ; wpf c k v nf ; jzpf o nf / ,if;tjyif jrefrmEdkifiHü vkyfief; &yfwnfrIudkvnf; ESpfqwdk;í aqmif&GufcJhaMumif; od&onf/ 2 012 ck E S p f u wnf ; upí tqdkygvkyfief;rSm &efukefwGif &SdaecJhNyD; Oya'tusKd;aqmifESifh tBuHay;rsm; cefYrSef;OD;a& 30 txdukd tvkyceftyfum aqmif f Y &GufcJhonf/ ,cktcg VDB Loi taejzifh ,cifu Oya'a&;&m ESifh tBuHay;0efaqmifrIrsm;udk taxmuf t yHh t enf ; i,f om ay;EdkifcJhonfh tajctaerSonf vkyief;tm; tjynft0udiw,f f h k f G aqmif&uci&onfh½k;H wpfctjzpf G f G hf dS k zGifhvSpfEdkifcJhjcif;jzifh azmufonf rsm;vdtyfcsursm;udk jznfqnf; k f h ay;Edivmrnfjzpfovdk tpd;k &ydi;f k f k rS qH;k jzwfcsucsrw&olrsm;txd f S f vnf ; xd a wG U vmEd k i f r nf j zpf aMumif; od&onf/ VDB Loi taejzifh vdkufem aqmif&u&rnfh 0efBu;D Xmeaygif; G f 'gZif 2 cktxd&SdaeNyD; tcsKdU 0efBuD;Xmersm;ESifh awGUqHkpum; ajymqd&ef vdtyfaMumif;? azmuf k k onfrsm;twGuf &efukefwGif&Sd ae&ef vdktyfovdk azmufonf rsm; tpDtpOfrsm; NyD;ajrmuf atmifjrifap&eftwGuf aejynf awmfwivnf;&S&efvtyfaMumif; G f d kd vkyfief;tBuD;tuJwpfOD;jzpf olJean Loi uajymMum;cJh onf/ VDB Loi tzGJU0ifwpfOD; jzpfonfh Edwin Vanderbruggen u ½Hk;topftaejzifh vkyfief; aqmif&GufrIrsm;udk us,fus,f jyefYjyefYaqmif&GufoGm;rnfjzpf aMumif ; ? jref r mh & if ; ES D ; jr§K yf ESrI H aumf r &S i f cGif h j yKcsuf r sm;? oGif;ukefvkdifpifr sm; tp&Sdonfh tcsuf r sm;udv nf ; tm½k H p d k u f k vkyfaqmifoGm;&rnfjzpfaMumif; ajymMum;cJhonf/
  10. 10. LOCAL BIZ 10 Myanmar Business Today January 16-22, 2014 Take Part in Myanmar’s Policy Making Process mmbiztoday.com Oil Booms in Myanmar Despite Political Challenges G companies that will be allowed lobal energy sources Prize-winning dissident who, following liberalisation, is now a member of Parliament and a possible candidate for president in 2015. While gener- While companies gas production, she has also for the rights – encouraged by Washington, which has so publicly signalled its blessing of Myanmar’s liberalization efforts – others are urging a more cautious attitude. For one thing, critics say the Burmese economy is widely regarded as rife with cronyism: many worry that the contracts country’s resources for domestic use, rather than for export. That could change the economics of exploration and drilling, few dozen producers despite its current status as a net importer. been inextricably linked since the dawn of the industrial world another reminder of the relationship between the two. Myanmar, still known as Burma by many, was ruled for junta that kept it isolated from nomic sanctions were imposed Reuters and while some Western energy companies were criticised by human rights groups for helping the regime elude the sanctions, Myanmar’s economy was by and large stagnant and its considerable natural energy resources largely untapped. But recent liberalisation, recognized by President Obama jects funded by international Shein Thu Aung M Thein Sein has urged ment’s policy making process by According to the president, Myanmar will organise the beginnings of unfettered oil and gas exploration. Myanmar American of the country’s elite. And human Myanmar, despite its reputation as a home of tranquil Buddhism, is in fact a hotbed of seething tribal and religious tensions, some of which occasionally erupt like to see happen. Myanmar, then part of the British Empire, 1880s. Most want to see it return quickly to the global stage, though only after human rights and other concerns are accommodated. MIT Technology Review Custom es industry by the ironic name of the “Stalin basin” – enough to put it among the world’s top Another possible complicating factor in Myanmar’s oil and gas picture comes from Aung San Suu Kyi, the Nobel reached $44.21 billion as of partners as Myanmar Summary Myanmar enacted a new forber 2012, replacing a 24-year old similar law, with sweetened terms and tax breaks for foreign urÇmvHk;qdkif&m pGrf;tift&if;tjrpf trsm;ESifh urÇmvH;k qdi&mEdiia&;tajc k f k f H taersm;rSm cGJjcm;ír& wpfckESifhwpfck ESifh qufEG,faeMuonfrSm pufrIacwf a&mifeopfay:xGuptcserS ,ckwif D f d f kd yifjzpfonf/ jrefrmEdii zGUH NzKd ;wd;k wuf k f H rIr sm;rSmvnf; pGrf;tift&if;tjrpfu@ wGif tvm;tvmaumif;rsm;udk zefwD; ay;aeonf/ jrefrmEdiitaejzifh ppftpd;k & zdEyf k f H dS csKyfcs,frIatmufwGif q,fpkESpfr sm;pGm &yfwnfcJh&NyD; tjcm;urÇmhEdkifiHrsm;ESifh vnf; tquftoG,fjywfawmufcJh& onf/ tD;,lESifh tar&duefwdkYrSvnf; jrefrmEdkifiHtay: pD;yGm;a&;ydwfqdkYrIrsm; jyKvkyfcJhonf/ jrefrmEdkifiH pD;yGm;a&;wdk;wufrIrSm tcseftMumBuD;&yfwefYcJh&NyD; ,cktcg d pGrf;tift&if;tjrpfr sm;rSm tjcm;EdkifiH rsm; pGrf;tifukrÜPDrsm;twGuf rsufpd usp&myif j zpf v mcJ h o nf / tar&d u ef EdkifiH or®wOD;odef;pdefonf vGefcJh onfhESpf Edk0ifbmvwGif jrefrmEdkifiHodkY a&muf&SdvmcJhNyD; jrefrmEdkifiH jyKjyif “stakeholders” Sein stressed the need to build mutual trust between management committee and international donors. Myanmar Summary and tactics best suited for a local context. At a meeting of the Central Committee for Foreign Aid in Nay Pyi Taw last week, the lation that makes up 70 percent of the total are priorities in the scheme. has been working on its framework on economic and social Sein said it has set accessibility of electricity and water, agri- priorities for the last 26 months of the current presidential term. grants, loans and technical - EdkifiHawmfor®w OD;odef;pdefu zGHUNzdK; wd;k wufa&;rdwzufrsm;tm;vHk;udk tpdk;& f rl0g'a&;&mvkyief;pOfr sm;wGif a'o f qdkif&mzGHUNzdK;wdk;wufa&;pDrHudef;rsm;wGif ueOD;aqmif&GufrIjzifh yg0ifvkyfaqmif Mu&ef wdkufwGef;cJhaMumif; od&onf/ rd w f z uf r sm;[k qd k & mwG i f axmuf yhH ulnDolrsm;qdkonfxuf yl;aygif;yg0if aqmif&Gufolr sm;udk qdkvdkNyD; tpdk;& Ed k i f i H j cm;taxmuf t yH h t ul t nD r sm; pDrcefca&;aumfrwDEifh tjynfjynfqif H Y JG S kd &mrS axmufyHhulnDolr sm;tMum;wGif ESpf O;D ES p f z uf t jyef t vS e f ,Hk Munf rI wnfaqmuf&ef vdktyfaMumif;vnf; or®wOD;odef;pdefrS ajymMum;cJhonf/ xkdYjyif jynfwi;f ESifh uunaom zGUH NzKd ; G kd f D wd;k wufa&;r[mAsL[mrsm;ESifh enf;pepf rsm; ta&;ygyHkudkvnf; ajymMum;cJh aMumif; od&onf/ jynfytaxmuftyHh rsm;tultnDqdkif&mA[dkaumfrwDtzGJU awGUqHaqG;aEG;yGukd vGeconftywf k J f hJ h wGif aejynfawmfü jyKvkyfcJhNyD; or®w OD;odef;pdefrS qif;&JEGrf;yg;rIavQmhcsa&; ESifh aus;vufa'orsm; vlrpD;yGm;zGUH NzKd ; I wd;k wufrrsm;twGuf BuKd ;yrf;aqmif&uf I G oGm;&rnfjzpfaMumif; ajymMum;cJhonf/ Phyu Thit Lwin A total of 414,007 foreign mar’s famous Shwedcent from a year earlier and also that the country’s many minority groups are protected as that the pattern of energy de- Cooperation Forum later this month. - projects. Western companies. As a consequence, not all tite for rapidly increasing their trade with Myanmar: many are waiting for more signs that the commitment to democracy is here daily. We hope we’ll get Kying, a member of Shwedagon Pagoda Board of Trustees, said. the pagoda’s Board of Trustees. from countries such as Brazil, China, Finland, Germany, India, Portugal, South Korea, the Shwedagon Pagoda in 2012. Visitor numbers to the pagoda in 2010 was 175,054, and pagoda. “Shwedagon Pagoda is a mustsee for all the tourists. People designated as $8 per head. The Shwedagon Pagoda ajymif;vJrIr sm;u a&eHESifh obm0"mwf aiGU&SmazGa&;vkyfief;rsm;udk pdwf0ifpm; vmapEdkifatmif aqmif&GufEdkifcJhonf/ tpdk;&taejzifh ,cktcg pGrf;tif t&if;tjrpfrsm;tm; azmfaqmifí zGUH NzKd ; wdk;wuf rI &Sd vmatmif aqmif & Guf Edkif rnfhukrÜPDr sm;tm; vkyfudkifcGifhay;&ef twGuf ukrÜPDr sm;tm; aemufqHk;a&G; cs,foHk;oyfrIrsm; jyKvkyfaeonf/ tar &duefurPrsm;taejzif h vkyief;tcGihf k Ü D f tvrf;&&Sd&eftwGuf txl;BudK;yrf;cJh MuaMumif;vnf; od&onf/ Contd. P 11... accommodates hundreds of colourful temples, stupas and tectural era spanning almost 2,500 years. Myanmar Summary 2013 ckESpfwGif jrefrmEdkifiH txif u&jzpfNyD; ausmfMum;vSaom a&Twd*Hk apwDawmfodkY EdkifiHjcm;c&D;oGm;a&muf&Sd vmrIppaygif;ta&twGurm 414007 OD; kk f S &SaMumif; od&NyD; q,fpEpwpfctwGi;f d k S f k trsm;qHk;a&muf&Sdvmjcif;yifjzpfaMumif; a&Twd*HkapwDawmf a*gyutzGJUrS ajym Mum;csuft& od&onf/
  11. 11. LOCAL BIZ 11 Myanmar Business Today mmbiztoday.com January 16-22, 2014 In the past, passport issuing and renewing process was mired in red-tapes, bureaucracy and corruption, while many applications were arbitrarily rejected. new passport issuing centres in Myanmar last week in addition Yangon and Mandalay. regions of Myanmar, and also in the country’s capital Nay Pyi of the Passport Department, said. tion authority when applying for a passport as compensation for 2012, the department decided to Kyaw Min Zeya said. of attempts taken by the Passport Department since 2012 to make it easier for Myanmar citizens to get a passport, which A Myanmar citizen will now be able to get a passport in 10 days at a cost of K25,000 ($25), down from 21 days and K50,000 ($50) required earlier. K19,000 at Myanma Economic Bank and pay K6,000 for - Vivek Prakash/Reuters of new passports cessing and application forms, pillar-78. Myanmar signed a demarcation agreement with India in Su Su M yanmar will stick to the 1967 demarcation of the Indian border though a major Indian political party has talked about annexing the Kabaw Valley, Presidential spokesman and Deputy InforThere are growing concerns among the local people in border town Tamu as India’s BJP party is pledging to annex the region if it wins in the upcoming general elections. years without paying extra. In March last year, the authorities introduced a host of new measures aimed at simplifying the process to obtain passports which included cancelling one aspect which forced applicants to pay money towards an educa- border area that remains to be demarcated. India suspended construction of an integrated check post ary 2, the Foreign Ministry announced in state-run daily the New Light of Myanmar. Teams from both sides carried out land India’s construction of the so called ICP near the border yet been established. Myanmar Summary jrefrmEdkifiHtaejzifh tdEd´, EdkifiH a&;ygwDwpfcEifhy;l aygif;í 1967 ckEpf k S S tdEd´, e,fajrydkif;jcm;owfrSwfrIESifh ywfoufí aqmif&Gufom;rnfjzpfNyD; G Kabaw Valley tm; odrf;ydkufrIESifh Also, in September the passport department introduced counter-corruption measures including allowing people to submit complaints to the passare asked for bribes in order to getting medical care, a passport will be issued within three to ment said. The department is ery of passports for applicants Myanmar currently issues religious, work, student, dependent, seafarer and business. Myanmar Summary vuf&Sd &efukefESifh rEÅav;wGif&Sdae aom EdkifiHul;vufrSwfxkwfay;aom pifwmrsm;tjyif aemufxyfEdkifiHul; ywfoufívnf; aqG;aEG;cJhM uaMumif; or®wajyma&;qdkcGifh&SdolESifh jyefM um; a&;0efBuD;Xme 'k0efBuD; OD;&Jx#u ajym G f Mum;cJhonf/ tdE, BJP ygwDrS vmrnfh taxG ´d axGa&G;aumufyGJwGif tEdkif&&SdcJhygu ,if;a'otm; odrf;ydkufrIjyKvkyfoGm; rnf[k qdkaeonfhtwGuf e,fpyfNrdKUjzpf aom Tamu wGif aexdiolrsm;taejzifh k f pdk;&drfrIrsm; ydkrdk&SdvmcJh&onf/ odkYaomfvnf; ESpfEdkifiHvHk;taejzifh e,fajrydkif;jcm;rIESifhywfoufí tqif ajyajyjzifh aqmif & G uoGm;Edkif vnf ; f BuKd ;yrf;oGm;rnf[k od&onf/ vufrSwfrsm;xkwfjyefay;Edkifonfhae&m 15 ckudk tmPmydkifr sm;u zGifhvSpfcJh aMumif; od&onf/ tqdkygywfpfydkY½Hk;opfr sm;tm; jynf e,fESifh wdkif;toD;oD;wGif zGifhvSpfcJhjcif; jzpfNyD; jrefrmEdkifiH NrdKUawmf aejynf awmfwivnf; tvm;wlyifjzpfaMumif; G f EdkifiHul;vufrSwfxkwfjyefay;&mXme tBuD;tuJwpfOD;jzpfol OD;ausmfaZ,s u ajymMum;cJhonf/ 2012 ckESpfuwnf;rSpí EdkifiHul; vufrwrsm;jyKvy&mwGif ydrtqifajy S f k f k kd vG,f ul a csm arG U vmap&ef Eifh jrefrm S EdkifiHom;rsm;twGufvnf; EdkifiHul; vufrSwftm; vG,fvifhwul&&SdvmEdkif ap&ef BudK;yrf;aqmif&GufcJhNyD; [dk;,cif uqdvQif Ediiul;vufrw&&S&eftwGuf k k f H S f d vGepmcufcovdk tcsdeMf umjrifaMumif; f G J h vnf; od&onf/ ywfpyavQmufxm;vdorsm;taejzifh f Ykd k l jrefrmhp;D yGm;a&;bPfwif usyaiG 19000 G f tm; ay;oGi;f &NyD; pDrcefcrtcaMu;aiG? H Y JG I "mwf y½dk u f j cif ; ES i fh avQm uf xm;onfh kH azmifrsm;twGuf usyaiG 6000 ukeu s f f aMumif;OD;ausmaZ,suajymMum;cJonf/ f h jrefrmEdkifiH pD;yGm;a&;rSm c½dkeDr sm; BuD;pd;k rI&aeovdk vlUtcGita&;vIy&m; dS hf f S aqmif & G u f r I r sm;rSmvnf; pd k ; &d r f p &m topfr sm;yifjzpfonf/ jrefrmEdkifiHtae jzifh EdkifiHa&;wGif pdefac:csufr sm;ESifh &ifqdkifBuHKawGUae&aomfvnf; vlr sKd; a&;y#dyu©r sm;? bmoma&;y#dyu©r sm; &SdaecJhNyD; tMurf;zufrIr sm;vnf; ay: aygufcJhaMumif; od&onf/ pGr;f tifzUHG NzKd ;wd;k wufrtaumiftxnf I azmfaqmif&uc sur sm;wGitcsKdUvkyief; G f f f f rsm;onf tjcm;vkyief;rsm;xuf rsuEm f f S om ydkrdk&&SdcJhygu tqdkyg pdefac:csuf rsm;udk ydrBkd u;D rm;vmapEdirnfukd pd;k &drf k k f rIr sm;vnf;&Sdaeonf/
  12. 12. FEATURE 12 Myanmar Business Today mmbiztoday.com January 16-22, 2014 Serves Its Final Meals Manuel Roig-Franzia material and workers to help build the Burma Road, a famed supply route for British soldiers during World War II, John Tinpe says. By the late 1980s, the family’s world was coming undone. T meals at the big house in Myanmar that her family ruled for centuries. Maids took care of that chore during her husband’s stints as a high-ranking Burmese diplomat in Britain, India Burma for a post in the Foreign Ministry while his wife and family had stayed behind in the So friends of the princess – “sao,” in Burmese – could be In 1988, Burma was wracked by demonstrations against political oppression, followed by a bloody crackdown on protesters and a coup d’etat. In the chaos, her news that anxious winter of turmoil and its ruling military junta rebranded it Myanmar. The sao and her husband would be opening a restaurant in Washington’s Chinatown. On New Year’s Day, 1990. in your life!” Sao Jane Nuwadee Tinpe recalls her friends gasping. “Now you are opening a restaurant?” business named for the homeland they left behind. Their restaurant, Burma, was homage to the country they remembered. way – this intimate nook where mayors and congressmen, artists and Burmese democracy another location. The building’s did not respond to requests for comment. just continuously losing the gems in Chinatown,” says Daphne Kwok, an AARP execuchaired President Obama’s - ers. “It’s a huge, huge blow.” Burma feels like a secret, a whisper in a city of shouts. battleship-gray stairwell to ar- bright yellow – sunshine defying the perpetual winter of the stairs. John Tinpe – a youthful 40-something who also works as a “supernumerary,” or extra, at major Washington ballet and opera performances – greets his guests in custom-made tailored in and out of the room, her dark black hair cut sharply in bangs. displace the air around her. In Burmese, her name – Nuwadee – means “gentle waters.” to scan all who come and go. In this room, Tinpe has brought kebab and former mayor Adrian Fenty his usual chicken curry. On a recent afternoon, he was gently placing Burma’s signature green tea leaf salad in who was quietly ensconced in a window seat alone. asked, lifting a small nugget from the salad with his chopsticks. Tinpe explained that he was holding a toasted lentil, a the ballet legend. haunts populated by characters who know mystery and intrigue. be described in simple terms. It is neither sweet nor sour. In Burma, he says, they call it “the times. the restaurant, a place that seats no more than 70 at a time in two rooms, an aura of old-world who died in 2005, chief of mission at the Burmese embassies in Washington and New Delhi, as well as deputy permanent proper British accent, cated at Cambridge. Lyndon Boozer, a Washington-based 6th telecommunications lobbyist who has been close friends with John Tinpe since their college days at Bucknell, town. It’s a huge, huge blow.” Old friends were the original patrons – diplomatic chums the Tinpes’ fashionable apart- wore an ascot. “Mr Boozer, so glad you could recalls his friend’s father say- continuously losing the gems in China- She trained cooks, drawing Years ago, it was Tinpe’s embodies the allure of this place, one of those Washington “Due to gentrification, we’re just Settling in Washington, the family thought, “What better way to represent Burma than with food?” John Tinpe says. The sao culled the family recipes that had once been pre- rif;orD;wpfa,muf[m b,fawmhrS xrif;[if;csujf yKwjf cif;udk rjyKc&ygbl;/ hJ udk;uefYa'ou olr&JUtdrfBuD;rSmqdk&if tdrfazmfawGu tpm;tpmawGtwGuf jyifqif&w,f/ olr&JUtrsKd;om;uawmh NAdwdef? tdEd´,ESifhtar&duefwdkYrSm xdyf wef;oHtrwfwpfOD;taeeJY tvkyfvkyf udipOfwe;f u tdrazmfawGu tdrrupö k f k f f I d a0,sm0pöawGukd aqmif&u&avh&w,f/ G f Sd 1989 ckESpfrSmawmh jrefrmEdkifiHrSm ppf tpdk;&jyefvnftkyfcsKyfwJhumvjzpfcJhNyD; rif;orD; sao eJY olr&J UtrsKd;om;wdkY[m 0g&Sifwef&JU Chinatown rSm pm; aomufqdkifwpfqdkifudkzGifhzdkY BudK;yrf;cJh& w,f/ sao &J U oli,fcsif;awGuawmh ]] Sao Jane Nuwadee Tinpe a& rif; b0rSm tvkyrvkyzl;bJeJYcpm;aomufqdkif f f k zGihfr,f[kwfvm;}} qdkNyD; yifhouf½dIufNyD; ajymcJhMuygw,f/ 'gayrJhvnf; rif;orD; sao eJY olr&J Urdom;pkwdkY[m pm;aomuf qdiwpfqiukd zGivpcNhJ y;D qdi&JUemrnf k f kd f hf S f k f udkawmh olrwdkYpGefYcGmcJh&wJh rdcifajr&JU trnf Burma vdkY ay;cJhMuw,f/ tJh'Dpm;aomufqdkifav;udk NrdKUawmf0ef awG? vTwfawmftrwfawG? tEkynm&Sif Jonathan Newton/The Washington Post Sixth Street NW space can be rehabbed to attract higher-paying tenants, says John Zarni Tinpe, the sao’s son. Tinpe says the ironwork splayed across its window. But when the door swings Myanmar Summary he thought. “It was like meeting a Burmese Cary Grant.” The Tinpes blended internasao’s family, the Yangs, had founded Kokang in the 1700s after coming to the area from were drawn by a menu that sounded and tasted utterly exotic: caladish, a type of squash, soup called mohingar, infused with coriander and fried onslow-roasted with mangoes. Kwok, the former head of the ate there with Kiran Ahuja, ers, and Chris Lu, assistant Contd. P 26... awGeJY jrefrmEdkifiH&J U 'Drdkua&pDa&;&m vIy&m;aqmif&uoawG vma&mufpm;oHk; fS G f l Muavh&SdcJhygw,f/ od k Y a omf vnf ; xdk pm;aomuf q d k i f wnf&&m taqmufttH&J Uydi&iuawmh Sd k k f Sf 'DZifbmv 31 &ufaeYrwdkifcif sao rif ; orD ; wdk Y ukd taqmuf t tHuae k xGufcGmcdkif;cJhygw,f/ ydkif&SiftaeeJY aiG aMu;ydkrdkay;EdkifwJholawGudk tcef;iSm;rSm jzpfwJhtwGuf sao wdkYtm; z,f&Sm;cdkif; cJhjcif;jzpfygw,f/ sao &J Uom;jzpfwJh John Zarni Tinpe uawmh rdom;pk taejzifhaemufxyfae&mwpfckwGif pm; aomufqijf yefziz&efrwwfEi[ajym kd G hf Ykd kd f k onf/ vlawGtaeeJY aiGaMu;ydkrdk &&Sa&;wpfcwnf;udom MunfwhtwGuf d k k h J sao &J U pm;aomufqdkifvdkrsKd; tpm; taomufaumif;awGtjyif jrefrmEdkifiH Contd. P 26...
  13. 13. REGIONAL BIZ 13 Myanmar Business Today mmbiztoday.com January 16-22, 2014 Number of transactions down 39pc in 2013 vs 2012 Yimou Lee T he number of properties year to a 17-year low as a surge in sales tax, designed to burst ers in one of the world’s most Despite steep discounts offrom 2012, according to the number of sale and purchase by more than a third last and forecasters expect the downturn to continue this year. With local tycoons like Li Kashing warning of the impact on his property business last year, could drop up to 50 percent Last February’s doubling of stamp duty, or tax, on residential transactions to as much as was designed to prick the city’s property bubble. But it has yet to stop the price of homes creeping up: according to prop- Bobby Yip/Reuters since 2008. That could change soon, making life tougher for the property Myanmar Summary a[mifaumifwGif tdrfNcHajra&mif;cs &rIta&twGufrSm vGefcJhonfhESpfwGif oHk;yHkwpfyHkausmf usqif;cJhNyD; tdrfNcHajr a&mif;cGefEIef;xm; jrifhwufvmrIaMumifh jzpfaMumif; od&onf/ tdrfNcHajra&mif;cGefwdk;wufvmrIrSm aps;EI e f ; rsm tqrwef j rif h r m;vmrI udk xd e f ; csKyf u ef Y o wf & ef t wG u f j zpf N yD ; 0,fvdktm;rsm; avsmhu soGm;ap&efjzpf aMumif; od&onf/ a[mifaumif xdyfwef;tdrfNcHajr vkyfief;rsm;rS avQmhaps;rsm;jzifh a&mif;cs rIr sm; jyKvkyfcJhaomfvnf; 2013 ckESpf twGif; a&mif;cs&rIESif h 0,f,lrIoabm wl n D c suf p k p k a ygif ; ta&twG u f r S m 73503 ckomjzpfNyD; 2012 ckESpfxuf 39 &mcdiEe;f txd usqif;vmcJaMumif; k f I h a[mifaumiftdrfNcHajrrSwfyHkwifXmerS od&onf/ vkyfief;oabmwlnDrIwefzdk;rsm;rSm vnf; vGefcJhonfhESpfxuf 30 &mcdkif EIef; usqif;cJhNyD; a[mifaumifa':vm 456 bDvD,H (tar&duefa':vm 59 bDvD,H) txdom&SdcJhaMumif;ESifh ,ck ES p f w G i f v nf ; quf v uf u sqif ; Ed k i f Contd. P 14... Contd. P 14... Thai PTTEP Lifts 2014 Investment Plan T hailand’s PTT Exploration and Production Pcl (PTTEP) said it plans to ous estimate, with much of the making KKD oil sands project in Canada due to high costs and expects to make a decision within this year. bilities. We may push ahead or pull back. But I can’t tell more details because we need to do Mozambique. PTTEP has an 8.5 percent Area 1 project, which is expected to start producing LNG Myanmar Summary 2018, PTTEP, Thailand’s top oil and gas explorer, plans to the $25 billion it planned for PTTEP also said petroleum sales are expected to rise to lent per day (BOEPD) in 2014, up from an estimated 292,000 xdkif;EdkifiH PTT Exploration and Production Pcl (PTTEP) rS ,ckEpf S wGif tar&duefa':vm 5.5 bDvD,H txd &if;ES;D jr§KyEom;&ef pDpOfxm;aMumif; f HS G ajymMum;cJhNyD; ,cifarQmfrSef;xm;rIxuf 60 &mcdkifEIef;eD;yg; ydkrdk&if;ESD;jr§KyfESHoGm; rnfjzpfaMumif; od&onf/ Mozambique &Sd vkyfief; wGifvnf; &if;ESD;jr§KyfESHrIudk BuD;BuD;rm; rm;jyKvyom;rnfjzpfaMumif; od&onf/ k f G ukeu sp&dwrsm;jrifrm;rIaMumifh uae'g f f h &Sd t½HI;ay:aeaom pDrHudef;ESifh ywf oufívnf; &if;ESD;jr§KyfESHrIAsL[mudk jyef v nf o H k ; oyf r I j yKvk y f a ecJ h a Mumif ; ajymMum;cJhNyD; ,ckESpftwGif; tqHk; LNG tjzwfwpfckudk jyKvkyfoGm;Edkif&efvnf; arQmfrSef;xm;onf/ jzpfEdkifacsrsm;pGm&Sd aeaMumif;ESifh qufvufvyuiEiovdk k f kd f kd f vkyief;tm; jyefvnfqwcmonfvnf; f k f G jzpfEdkifaMumif; ? odkYaomfvnf; tao; pd w f t csuf t vuf uk d rajymEdkif ao; aMumif;?pdppfavhvmrIr sm;udkyxrOD;pGm jyKvyom;&efvtyfaMumif;od&onf/ k f G kd The increase will mainly come from the Zawtika project in Myanmar, which is expected to this year, it said. Petroleum sales are expected statement. PTTEP also expects to conclude a deal to buy stakes in PTTEP recently joined hands with Indonesia’s Pertamina to billion. Reuters Sukree Sukplang/Reuters told a news conference. Thailand is keen to secure long-term energy supplies and last month, PTTEP’s parent company PTT Pcl signed a preliminary deal with Anadarko Petroleum Corp to buy 2.6 million tonnes per year of lique- in 2018-2019.
  14. 14. REGIONAL BIZ 14 Myanmar Business Today mmbiztoday.com January 16-22, 2014 Reuters Yoko Kubota A Reuters nnual automobile sales in Japan rose 0.1 percent G But all four measures reindustries slowed in De- showed, mirroring a slowdown second-largest economy lost steam at the end of last year. Index (PMI) dropped to 50.9 in December, its lowest since August 2011, from 52.5 in NoNew business expansion was the slowest in six months. The PMI follows a similar reau of Statistics, which showed growth to a four-month low of 56.0. that separates expansion in China’s economy has regained some momentum since midyear after a protracted slowdown. While it was expected to reins in rampant credit growth and demand for China’s exports remained resilient into the December quarter. Beijing has said it will accept slower growth as it tries to reshape the economy towards more sustainable growth, based on consumer demand, after three decades of breakneck expansion led by exports and credit. China’s economic growth is likely to come in at 7.6 percent PMIs that showed China’s facber, suggesting the moderation in the country’s growth in of 7.5 percent and slightly below the 7.7 percent in 2012. Data for broad-based. on January 20. Reuters Myanmar Summary w½kwfEdkifiH 0efaqmifrIvkyfief;rsm; taejzif h 'DZifbmvwGif zGUH NzdK;wd;k wufrI aES;auG;cJhaMumif; ppfwrf;rsm;t& od& NyD; ukefxkwfvkyfrIu@ESifh urÇmh'kwd, tBuD;rm;qHk;jzpfaom w½kwfEdkifiH pD;yGm;a&;onf 'DZifbmvwGif wdk;wufrI EIef;avsmhu som;aMumif; od&onf/ G Purchasing Managers’ Index (PMI) ñTef;udef;rSmvnf; 50.9 odkY 'DZifbmvwGif usqif;cJNh y;D 2011 ckEpf S Mo*kwfvrSpí ,ckEIef;xm;rSm tedrfh qHk;tajctaewpf&yfjzpfaMumif; od& um Edk0ifbmvwGif ñTef;udef;trSwf 52 . &SdcJhaMumif; HSBC rS ajym 2 Mum;cJhonf/ w½kwfEdkifiH trsKd;om;pm;&if;tif; XmerSvnf; tvm;wl ppfwrf;aumufcH cJhNyD; 0efaqmifrIu@rSm 'DZifbmv wGif ñTef;udef;trSwf 54. om&SdcJhNyD; 6 Ed0ifbmvwGif 56. &ScJaMumif;vnf; k 0 d h od&onf/ tqdkygppfwrf;rsm;u w½kwfEdkifiH puf½kr sm; 'DZifbmvwGif vkyief;aqmif H f &Gurusqif;jcif;udk jyoaeonf/ f I April. “Since the new measure is still Kong. mass-market home prices will drop up to 20 percent in 2014. Ltd, the city’s second-largest deof up to 25 percent for a new launched last weekend, one of the steepest cuts seen since new Price Cuts Ahead Despite predictions that the property market will remain in the doldrums for some time, face. It predicted prices could rebound by up to 10 percent city’s housing market. You can see from the strong sales responses for the recent new project launches,” Cheung Chiu Kwok-hung was quoted as saying in daily paper the South China Morning Post. Analysts see little sign of that, instead forecasting further prices as new home construction projects are completed. “There is zero chance that property prices will go up this year,” said CLSA property analyst Nicole Wong, adding that as strong sales from September countered earlier declines after green car subsidies ended in September 2012. Sales in the world’s thirdbiggest auto market is likely to continue growing year-on-year but outlook is murky following April when the sales tax will Automobile Dealers Association and Japan Light Motor Vehicle and Motorcycle Association said. Japan is set to raise its sales tax in April to 8 percent from 5 percent. 660cc displacement posted record annual sales of 2.1 million year earlier, helped by new modJapan Light Motor Vehicle and Motorcycle Association said. In December, industry-wide auto sales rose 25 percent to two associations showed. sales at top-ranked Toyota Motor Corp, including the Lexus brand, its worst year in more than a decade. Properties Ltd in September posted a 14 percent fall in fulltrailing forecasts and marking forced to price homes in newly percent below those for sale in older buildings. “In 2014 there will be pressure to cut prices further for said. Supply for new homes may increase by up to 85 percent in 2014, she said. of last year’s slowdown, last Prices in the former British colony remain among the highcool property prices in October 2009, no real impact had been seen until the February increase in stamp duty on residential transactions. Reuters aMumif; cefYrSef;wGufc sufolr sm;u oHk; oyfxm;onf/ and Nissan Motor Co increased 1.0 percent. second biggest auto market, sales 2012, its best year since the boom times before 2008. Industrythe world’s biggest auto market, has yet to be announced. Reuters Myanmar Summary 2013 ckESpfwGif *syefEdkifiHü armf awmfum;a&mif;cs&rIrsm;rSm 0.1 &mcdif k EIef;wdk;wufvmcJhNyD; armfawmfum;tpD; a& 5. rDvD,Htxd a&mif;cscJh& 38 aMumif;vnf; armfawmfum;vkyief;ydi;f f k qdi&m tcsutvufrsm;t& od&onf/ k f f green car 0,f,lrIaxmufyHhaMu; rsm;udk 2012 ckESpf pufwifbmvwGif qufvufaxmufyHhay;&ef &yfwefYcJh onfhtwGuf armfawmfum;a&mif;cs&rI usqif;cJhaMumif;vnf; od&onf/ armfawmfum;a&mif;cs&rIwGif urÇmh wwd,tBu;D qH;k armfawmfum;aps;uGuf BuD;jzpfonfh *syefEdkifiHtaejzifh 2014 ckESpf yxroHk;vwmtwGif; a&mif;cs &rIrsm; qufvufwdk;wufoGm;zG,f&Sdae onf/ Li Ka-shing uJokYd jynfwi;vkyief; h G f f tdrNf cajrvkyief; oufa&mufrrsm; H f I udk owday;cJMh u&onf/ Ed0ifbmvwGif k Deutsche bPf ajymMum;csuft& a[mifaumifEdkifiH tdrfaps;EIef;rsm; taejzifh vmrnfh 12 vwmtwGif; 50 &mcdkifEIef;usqif;oGm;zG,f&SdaMumif; vnf; od&onf/ vGeconfh azazmf0g&DvwGif taumuf f hJ cGefEIef;xm;rsm;tm; ESpfqwdk;jr§ifhcJhNyD; a[mifaumif tdrfNcHajraps;EIef;rsm; jrifhwufvmrIudk xdef;csKyf[efYwm;&ef twGuf taumufcGefudk a&mif;csrI wefzdk; 8.5 &mcdkifEIef;txd aumufcH cJhonf/ tdrfaps;EIef;rsm;rSm 2008 ckESpf rSpí 120 &mcdkifEIef;txd ckefwufcJh onfhtwGuf ,ckuJhodkY a&mif;cGefudk wdk;jr§ifhaumufcHcJhjcif;jzpfonf/
  15. 15. REGIONAL BIZ 15 Myanmar Business Today mmbiztoday.com January 16-22, 2014 Big Worker Bonus Figure likely hit by estimated $1-billion special bonus Miyoung Kim Myanmar Summary S amsung Electronics Co Ltd , the world’s largest smartphone maker, has reignited shareholder calls for more returns after splashing out on a special employee bonus estimated at nearly $1 billion. drew on its $50 billion cash pile to mark 20 years of transformacompany – just two months afspending enough to increase its The bonus, to commemorate Chairman Lee Kun-hee’s “New Management” strategy, hit October-December operating likely fell 6 percent on year and 18 percent from a record third closer to 1 trillion won, or an company’s 240,000 employees, analysts say. 8.8 trillion won, to the lowest July-September 2012. “This (bonus) could increase pressure from some shareholders to raise shareholder returns, for more payout either in the dends,” said Kim Kyung-yoon, head of equities management agers, which owns Samsung shares. Like most South Korean companies, Samsung has kept its Manunphattr Dhanananphorn T hailand’s national carrier Thai Airways International Pcl said last week it Reuters billion). Initial street estimates put the lion won, but the extent of the percent or less, which is a primary reason its shares are not “No Transparency” “We are not against paying bonuses to workers but at least the shareholders should get as much,” said Mark Mobius, ton Emerging Markets Group. “They should really celebrate sung Group in 1987 from his thing except your wife and children” to transform Samsung Electronics from a mid-tier a global technology leader. nothing to do with Samsung’s be repeated, although there is no transparency on this issue and so no guarantees,” CLSA note. “Whether shareholders will dend or share buyback remains lyst is not holding his breath as happen.” years partly due to the compareturn policy, despite operating Returns equal around 5.1 since 2007 when Samsung last bought back shares, at which cabin factor – the number of seats sold – at 76 percent, acting President Chokchai Panyayong told reporters. Thai Airways, whose president resigned for health reasons quarter, hit by a lower pas- year. The airline is aiming for cent this year with an estimated time its rate of return was 15.8 percent. and foreign exchange losses. Reuters Corp in TVs, Nokia Oyj in mobile phones and Apple in smartphones. Lee, who turns 72 this week, set the agenda for the future in his New Year speech by stressing the need to drop a hardware-centric culture and adopt new ways of thinking to “In theory this (bonus) has Myanmar Summary xdkif;Edii Thai Airways International k fH Pcl rS vGefcJhonfhtywfwGif ajymMum; csuft& vGefcJhonfhESpf yxr 9 v wmtwGif; qH;k ½HI; rI B uD ; BuD ; rm;rm;ud k &ifqiBf uKH awGUcJ&Ny;D aemuf 2014 ckEpf kd h S wGif tusKd;tjrwf jyefvnf&&Sd&ef arQmf rSef;xm;aMumif; od&onf/ ,ckESpfwGif 0ifaiGtm; tenf;qHk; 5 &mcdkifEIef; wdk;wufvmap&ef tqdkyg Korean companies often top up low salaries with bonuses. to 50 percent of annual salary that exceeds targets. It also offers up to 100 percent of basic monthly salary to employees in Reuters avaMumif;vdkif;taejzifh &nfrSef;xm; aMumif; od&onf/ ,if;avaMumif;vdkif; OuúXtae jzifh ,ckvtwGif; usef;rma&;jyóem aMumifh tem;,lcJhNyD; 'kwd,oHk;vywf umvwGifvnf; 0ifaiGu sqif;rIr sm;&Sd vmumc&D;onfta&twGuf&&SdrIrSm enf;yg;cJhí vkyfief;NydKifqdkifrIr sm;vnf; ydkrdkjyif;xefvmEdkiijH cm;aiGvJvS,frIwGif f qH k ; ½H I ; rI r sm ;aMumif h j zpf a Mumif ; vnf ; od&onf/ urÇmhwwd,tBuD;qHk;prwfzkef;xkwf vkyfonfhvkyfief;jzpfaom Samsung Electronics Co Ltd tydkqkaMu; rsm;ESifhywfoufí aqG;aEG;jiif;cHkrIr sm; udk jyKvkyfcJhaMumif; od&onf/ txl;vkyfom;wpfOD;twGuf tydkqk aMu;tm; tar&duefa':vm 1 bDv,H D txd ay;Edkifaomfvnf; &S,f,m&Siftm; tjrwfa0cGJa0ay;rIyrmPrSm enf;yg; aeqJjzpfonfhtwGuf ,if;udpö&yfESifh ywfoufí aqG;aEG;rIr sm;udk jyKvkyfcJh jcif;jzpfonf/ Samsung taejzifh vkyfcvpmEIef; xm;udk ysr;f rQxuf avQmcsNyD; tydqaMu; h k k tm; BuD;BuD;rm;rm;ay;tyfavh&Sdonf/ xdkjY yif &S ,,m&Sirsm;tm; tjrwftpGe;f f f cG J a 0ay;aomyrmPrSmvnf; tvG e f enf;yg;onftwGuf &S,,m&Sirsm;tae h f f jzifh tydkqkaMu;rsm;udk yrmPBuD;BuD; rm;ay;avh&Sdaomfvnf; &S,f,mtjrwf tpGef;yrmPenf;yg;rItay: ar;cGef; xkwfp&mjzpfvmcJhonf/ Samsung taejzifh 0efxrf;rsm; tqif a jy&ef t wGuf ,if; A sL[mudk toHk;jyKjcif;jzpfonf/ atmufwdkbmv rS 'DZifbmvtwGif; vkyfief;tusKd; tjrwfrSm 6 &mcdkifEIef;usqif;cJhaMumif; vnf; od&onf/ ,ckuJhodkY tydkqkaMu; rsm ;tm; trsm ;tjym;ay;tyf onfh twGuf tcsKdU&S,f,m&Sifr sm;taejzifh udk ,ckxuf ydkrdk&&SdvmEdkif&ef arQmfvifh MuNyD; xkdtcsufu ukrÜPDtay: zdtm; wpfcktjzpf oufa&mufvmzG,f&Sdae aMumif;vnf; od&onf/ awmifudk&D;,m; Samsung tae jzifh &S,f,m&Sifrsm;odkY tjrwftpGef; ay;rIyrmPrSm 1 &mcdkifEIef;0ef;usif (odkYr[kwf) xdkxufenf;yg;aomEIef;udk omay;aMumif;vnf; od&onf/ vk y f o m;rsm ;tyd k q k a Mu;yrmPrsm ; rsm; &&Sovd&,,m&Sirsm;taejzifvnf; d k S f f h tjrwftpGe;f yrmP ydr&&Svm&eftwGuf k kd d aqG;aEG;rIr sm;jyKvyjf cif;jzpfaMumif; od& k onf/ odkYaomfvnf; {NyDvwGif a&mif;cGef wd k ; jr§ifh a umuf c H r nf j zpf o nfh t wG u f armf awmfum;vkyief;ydif;qdi&m taumif; f k kf jrif½IjrifoHk;oyfc sufrSmvnf; wpfzef jyefvnfrIef0g;oGm;Edkifjyefonf/ *syefEdkifiHtaejzifh {NyDvwGif a&mif; cGefr sm;tm; 5 &mcdkifEIef;rS 8 &mcdkifEIef; txd wdk;jr§ifhoGm;&ef owfrSwfv smxm; onf/ 2013 ckESpfwGif tif*sifyg0g 660 pDpD um;vwfr sm; a&mif;cs&rIrSm tpD;a& 2. rDvD,Htxd a&muf&SdcJhNyD; 1 vGefcJhonfhESpfxuf 6.7 &mcdkifEIef; wdk;wufvmcJhaMumif;od&onf/
  16. 16. REGIONAL BIZ 16 Myanmar Business Today mmbiztoday.com January 16-22, 2014 Stakes in Local Banks 20pc stake allowed for strategic investor, without govt approval ship has been allowed on a case-by-case basis, such as the 72 percent in Bank of Ayudhya , and 94 percent CIMB Thai Bank, mostly as a means to inject more capital. promised reforms as part of a “master plan” aimed at boosting economic growth that was 5.42 percent last year, up slightly from 5.25 percent 2012, which Vietnam’s economy grew about 7-7.5 percent annually from 2004-2007. Reuters Myanmar Summary vir.com vmrnfhvrSpí AD,uferfEdkifiHtae Ho Binh Minh and Nguyen Phuong Linh place. It would raise the foreign V stakes in its banks from into weak banks, it said, without elaborating. An SBV report debt problem but is short of the reforms experts say are needed to strengthen its economy. said there were 11 weak banks in Vietnam, although it said eight had been “restructured”. Bui Kien Thanh, an independent economist and former Phuong Nam. In those three cases, the foreign bank got ietnam will allow foreign on February 20, foreign banks could be allowed to buy majority stakes in domestic lenders considered weak, and marginally greater shares than at present in stronger banks. It did not stipulate what constituted a “weak” bank. of incremental steps taken by economy that has been stuck in a quagmire, in large part due tight lending that has hurt retail growth and led to bankruptcies of tens of thousands of small businesses. The State Bank of Vietnam (SBV) last year set up an asset 20 percent. The concept is similar to what which had a debt crisis of its own more than a decade ago, although Vietnam’s solution offoreign stakes. to 49 percent in Thai lenders, while majority foreign owner- appeal to foreigners because stakes permitted in stronger banks were too small and the extent of the NPL problem in Vietnam was still unclear. ‘Bad Debt Barrier’ “It doesn’t mean anything to decide anything,” Thanh said. “The chance to buy a 100-percent share of a weak bank is also to pay a lot of money to buy a bank with high rates of nonperforming loans... the biggest barrier is bad debts.” F ord Motor Co and its local partners in China sold a total said last week. 55 percent jump in October. wholesale basis, up 49 percent from 2012, helped by Ford Focus, the best selling model in China last year. Ford partners with Chongqing ChangAn Automobile Co Ltd and Jiangling Motors Corp in Reuters Myanmar Summary debt from lenders in return for region’s highest ratios of nonperforming loans (NPLs). According to the new decree, tor” will be allowed a maximum 20 percent of a Vietnamese into about 10 Vietnamese banks – half of them listed – among the nearly 40 in the country, according to Thomson Reuters data. Among the foreign banks with stakes in Vietnamese ones are bank; Commonwealth Bank of foreign ownership remains in &if;ESD;jr§KyfESHolr sm;rS &S,f,mydkrdk0,f,lrI udk cGifhjyKay;oGm;rnfjzpfaMumif; od& onf/ AD,uferfEiitaejzifh vuf&Sd a<u;NrD kd f H jyóemudk avsmhyg;oufomvmap&ef twGuf ,ckuokYd &if;ES;D jr§KyEorsm;tm; hJ f HS l &S,,mydr0,f,Eiciukd cGifjh yKay;rnf f k kd l kd f G hf jzpfNyD; pD;yGm;a&;udvnf; cdirmvmap&ef k k f aqmif&GufzdkY vdktyfaeonf/ tpdk;&rS vGefcJhonfhtywfwGif xkwf jyefaMunmcsuft& azazmf0g&Dv 20 &ufaeYrpí EdiijH cm;bPfrsm;tm; jynf S k f wGif;bPfr sm; &S,f,mrsm;udk 0,f,l oGm;Edkif&ef cGifhjyKay;oGm;rnf[k od&NyD; bPfr sm; tiftm;udk ydkrdkawmifhwif; cdkifrmvmap&eftwGuf AD,uferfEdkifiH tm;xkwfrIwpfckyifjzpfonf/ , ck t a jymif; t vJ w pf ck rSmv n f ; AD,uferfuGefjrLepftpdk;& ajcvSrf; wpfckyifjzpfNyD; EGHtdkifxJwGif epfae onfh AD,uferf pD;yGm;a&;udk topf wpfzefjyefvnfO;D armhvmEdiap&eftwGuf kf AD,uferftpdk;&rS BudK;yrf;vsuf&Sdonf/ AD,uferftaejzifh a<u;NrDjyóemrsm; ESifh aiGaMu;acs;,lEdkifrIwGifvnf; wif; MuyfrIr sm;aMumifh vufvDvkyfief;rsm; wdk;wufrIwGif txdemNyD; vkyfief;ao; aygif;rsm;pGm a'0gvDcHcJh&onf/ xkwf jyefaMunmcsuftopft&jynfy&if;ESD; jr§KyEowpfO;D taejzifhtpdk;&oabmwl f SH l cGifhjyKcsufrvdkbJ AD,uferfjynfwGif; bPfwpfck &S,f,m 20 &mcdkifEIef; txd trsm;qH;k 0,f,EiaMumif; od&Ny;D l kd f ,ckvuf&SdwGif 15 &mcdkifEIef;txd cGifhjyKxm;aMumif;vnf; od&onf/ jynfy&if;ESD;jr§KyfESHolr sm;taejzifh vkyf ief;&S,f,m 30 &mcdkifEIef;txd 0,f,l oGm;Edkif&eftwGufvnf; AD,uferfEdkifiH taejzifh jyifqifaeaMumif; od&onf/ tm;enf;aombPfr sm;tm;jynfy&if;ES;D jr§KyfESHolr sm;u 0,f,lcsifvQif vkyfief; &S,f,m 30 &mcdkifEIef;txdudk 0,f,l oGm;Edkif&ef tcGifhta&;udkvnf; cGifhjyK ay;oGm;zG,&aeonf/ pD;yGm;a&;ynm&Sif f dS wpfO;D jzpfNy;D ,ciftpd;k &tBuHay;wpfOD; Bui Kien Thanh u jzpfaom ajymif;vJrIr sm;taejzifh EdkifiHjcm;&if;ESD; jr§KyfESHolr sm;tay:wGif tuefYtowf jzifh &SdaezG,fjzpfum cdkifrmNyD; tiftm; aumif;aomjynfwi;f bPfrsm;wGif EdiiH G k f jcm;&if;ESD;jr§KyfESHolr sm;rS &S,f,m0,f,l cGif h y rmPrSm tvG e fenf ; yg;aeNyD ; AD,uferfEdkifiH non-performing loans (NPLs) jyóemrSmvnf; r&Sif; vif;ao;aMumif; ajymMum;cJhonf/ Ford Motor Co awmfum;tpD;a&pkpkaygif; 94838 pD; txd vufum;a&mif;cscJh&NyD; tqdkyg a&mif;cs&rIEIef;rSm vGefcJhonfhESpfxuf 35 &mcdkifEIef; wdk;wufvmaMumif; Ford ukrÜPDrSajymMum;cJhonf/ Ed0ifbmvwGif armfawmfum;a&mif;cs&rIrm 47 &mcdkifEIef;wdk;wufcJhNyD; atmufwbmvwGif 55 &mcdiEe;f txd k S kd k f I wdk;wufcJhaMumif;vnf; od&onf/ 2013 ckESpfwGif Dearborn a&mif;cs&rIpkpkaygif;rSm armfawmfum; tpD;a& 935813 pD;txd&SdcJhNyD; 2012 ckESpfxuf 49 &mcdkifEIef; a&mif;tm; wdk;wufvmcJhaMumif; od&onf/ xdk odkYa&mif; tm;wdk; wuf vmrI rm vGefcJhonfhESpfwGif w½kwfaps;uGufü a&mif;tm;taumif;qHk; um;armf',f jzpfaom S Ford Focus aMumifhvnf; jzpfaMumif; od&onf/
  17. 17. INTERNATIONAL BIZ 17 Myanmar Business Today mmbiztoday.com January 16-22, 2014 Martin Santa E December after a small month, increasing the European Central Bank’s challenge the economy. cent since February 2010 and prompted the European Central Bank to cut its key interest rate to a new record low of 0.25 Still, the eurozone is far from the 17 countries then sharing the euro stood at 0.8 percent year-on-year in the last month fered from the early 1990s. ECB President Mario Draghi said recently there were no need for another rate cut, but Eurostat showed. December’s reading takes inlow of 0.7 percent in October. risks, especially in peripheral countries,” said Peter Vanden economist, referring to the bloc’s weaker members. below the ECB’s target of closeto-but-below 2 percent carries risks in the longer term because mand, depressing the economy. Reacting to the data, the euro time being the ECB will keep its monetary policy unchanged, not much is needed to push the central bank into action,” said Analysts see the ECB staying on hold at its rate-setting meeting on Thursday, while watching out for any action the bank may take in reaction to current Reuters too early for the ECB to become stuck permanently below one percent and slips into a danger zone for the economy. Myanmar Summary by the time the cheap longterm loans it has already made expire. The ECB injected more than €1 trillion into the banking likely enact its Long-Term ReDecember 2011 and February the next few months, which may on speculation the ECB could consider more steps to support towards bank lending,” said tranche of repayments is due in late 2014. Reuters Edk0ifbmvwGif aiGaMu;azmif;yGrIEIef; tenf;i,fjrifhwufvmNyD;aemuf 'DZif bmvwGif ,l½dkZkef aiGaMu;azmif;yGrI rSm usqif;vmcJhonf/ 2013 ckESpf aemufqHk;vwGif EdkifiHaygif; 17 EdkifiH pm;oHk;olaps;EIef;azmif;yGrIEIef;rSm 0. 8 &mcdkifEIef;&SdcJhNyD; Edk0ifbmvwGif 0.9 &mcdiEe;f &ScJaMumif; tD;,l pm&if;tif; k f I d h ½Hk; Eurostat rS tcsuftvufrsm; t& od&onf/ atmufwbmvwGif pm;oH;k olaps;EIe;f kd azmif;yGrIrSm 0.7 &mcdkifEIef;&SdcJhonf/ ,aeYudef;*Pef;tcsuftvufr sm;tm; Oa&myA[dkbPftwGuf auseyf&ef apmvGef;aeao;NyD; txl;ojzifh tpGef tzsm;Ed k i f i H r sm;twG u f j zpf a Mumif ; ING ,l½Zep;yGm;a&;ynm&SitBu; dk k f D f D tuJwpfOD;jzpfonfh Peter Vanden Houte u ,l½dkZkef pD;yGm;a&;wGif tm;enf;aeao;aomtzGJU0ifEdkifiHr sm; udk &nfñTef;í ajymMum;cJhonf/ US Safest Country Michelle Conlin L ondon ranks as the top city for foreign real estate beating out last year’s winner, New York, according to a surmore than 50 percentage points many. This is the widest margin since 2006. Estate. “stable and secure” country for for capital appreciation. It also leads the ranking for planned real estate acquisitions in 2014, with nearly 50 percent of respondents projecting a modest size and 20 percent projecting a “major” increase. functioning capital markets for both debt and equity that prothe association’s Chairman, Reuters Managing Director and CoInc. Reuters Myanmar Summary vef'eftaejzifh EdkifiHjcm;tdrfNcHajr &if;ESD;jr§KyfESHrItcGifhtvrf;twGuf xdyf wef;NrKd Utjzpf &yfwnfaeaMumif; od&Ny;D vGeconfEpue,l;a,mhcjf zpfcaMumif; f hJ h S f hJ vnf; od&onf/ tdrNfcajr&if;ES;D jrK§yErtcGitvrf;aumif; H f SH I fh rsm;twGuf ppfwrf;udk EdkifiHjcm;tdrfNcH ajru@qdi&m &if;ES;D jrK§ yEorsm;toif; k f f SH l BuD;rS xkwfjyefcJhonf/ ,if;ppfwrf;t& qefz&efppöudkrSm EdkifiHjcm;&if;ESD;jr§KyfESH olr sm;twGuf wwd,taumif;rGefqHk; NrdKUwpfNrdKUjzpfNyD; [sLpwefESif h avmhtde*s f vdpfwdkYrSm pwkw¬ESifh yÍörajrmufae&m rsm;wGif toD;oD;&SdaeMuonf/ tar&d uefEdkifiHtaejzifhvnf; &if;ESD;jr§KyfESHrI rsm;twGuf twnfNidrfqHk;ESifh tvHkNcHK qHk;EdkifiHwpfcktjzpf qufvuf&yfwnf aeovdk 'kwd,ajrmufEdkifiHrSm *smreD jzpfaMumif; od&onf/tar&dueftae jzif h a iG v H k ; aiG & if ; &if ; ESD;jr§KyfESHrIr sm;t wGutaumif;qH;k tcGifh tvrf;rsm;udk f axmufyHhay;aeaMumif; od&onf/
  18. 18. INTERNATIONAL BIZ 18 Myanmar Business Today mmbiztoday.com January 16-22, 2014 Emerging Market Investors Face Year Mike Dolan Myanmar Summary A central bank liquidity recedes in 2014, emerging more anxious about local political risks – and how to spot them early on. had a rough ride since the wind-down of its money printing last year. The looming withdrawal of easy cash worldwide pushed the dollar and Treasury Anindito Mukherjee/Reuters tries most dependent on foreign capital. Emerging market bonds posted only their third year in the red since 1998 last year, while emerging equities ended year in three. a beach strewn with political detritus. As competition for funds heats up while their economies rapidly lose steam, political risks of the major emerging markets go to the polls in some format this year. “2014 will be a year in which the return impact from idiosyning markets could increase substantially,” asset manager sudden, such as the Arab Spring East and North Africa or the more recent street protests in For funds seeking to assess system or scorecard is critical. South Africa, India, Indonesia and Brazil, the emerging econo- “The prospect of these elections could potentially reduce economies on a temporary basis,” it added, citing the threat and Nigeria to the list last week saw the two countries come in ‘Willingness to Pay’ The world’s biggest asset manager Blackrock, for ex- year, adding to brewing local market peers. Only Venezuela has a worse rating than Nigeria, for example. What’s more, Blackrock highlighted the growing political element in its risk ratings, citing the recent unrest in Thailand now ranks 50 countries in corruption probe in Turkey or the waning popularity of South Africa’s and Brazil’s leaders. South Africa and India hold parliamentary elections in 2014, while Brazil and Turkey Indonesia has both. In fact, 12 Jennifer Saba his intentions public. he said through a translator last week. philanthropy, does not hold shares in the Times, nor does he plan to buy any of its common shares, he said, noting that the meeting. elections may be the easy bit, political disruptions of the past four years were rather more The company, which publishes the namesake newspaper, billion. Chen, who has been mulling a bid for the prestigious newspaper for the past two years, said last week he thinks it is worth $1 billion. The Ochs-Sulzberger family, which has owned the Times for more than 100 years, controls the company through a trust of ing rights. Global Times on January 5 asking readers not to take his intention of buying the paper as creditworthiness. policies and banking stability, but also captures the essence of pure political risk under a head- a trick or joke. Chairman Arthur Sulzberger Jr has said recently the Times is not for sale. A New York Times spokeswoman declined to comment on Chen. is tearing down buildings and entrepreneur to partner with to make the purchase. Reuters Myanmar Summary w½kwEiirS olaX;BuD;wpfO;D jzpfonfh f kd f H Chen Guangbiao taejzif h e,l;a,mhcf said it had added an additional ness to pay’ gauge to strengthen monitoring. red on this category when Blackrock last updated this index in October. Reuters wdkif;rfudk 0,f,l&eftwGuf pDpOfcJhaomf tcuftcJr sm;jzifh BuHKawGUcJh&aMumif; od&onf/ 0g&Siwefyptm; a&mif;csNyD;aemufwif f kYd f G vltrsm;taejzif h ESptMumBu;D &yfwnf f cJhaom e,l;a,mhcfwdkif;rftm; rnfodkY jzpfvmrnfukd pdw0ifpm;cJMh uaomfvnf; f e,l;a,mhcfwdkif;rfrS vkyfief;tm; vHk;0 a&mif;csjcif;jyKvyom;rnfr[kwaMumif; k f G f ajym Mum; cJ h o n f / 'k wd , tcsuf rSm Chen taejzifh e,l;a,mhcfwdkif;rfrS tBuD ; tuJ E S i fh awG U qH k v d k a omf v nf ; taMumif;jyefMum;rIr&ScJhaMumif; od& d onf/ Shannon Stapleton/Reuters C hinese recycling tycoon Chen Guangbiao dialled back his ambitious plans to buy The New York Times Co creased demand for currency and bond hedging. 2014 ckESpfwGif urÇmhA[dkbPfr sm; aqmif&GufrIrsm;onf 2014 ckESpfwGif tm;avsmhvmonfhtwGuf zGHUNzdK;qJaps; uGu&if;ES;D jrK§ yEorsm;taejzifh jynfwi;f f f HS l G EdkifiHa&;tajctaersm;tay: ydkrdkpdk;&drf vmMuaMumif; od&onf/ zGHUNzdK ;wd k ; wuf q J E d k i f i H r sm;taejzifh vGefcJhonfhESpfrSpí Federal Reserve rS aiGaMu;vHIUaqmfrItpDtpOfrsm;udk t&SeavQmconftcserpí oufa&muf d f h hJ h d f S rIr sm;&SdcJhonf/ xdkYtjyif wl½uD ? awmif tmz&du? tdEd´,? tif'kdeD;&Sm;ESifh b&mZD;wdkYrSmvnf; jynfy&if;ESD;jr§KyfESHrI rsm; vdktyfaeovdk ,ckESpfwGifvnf; a&G;aumufyr sm;udk jyKvyom;&rnfjzpf JG k f G aMumif; od&onf/ wl&uDtaejzifvnf; tusiysujf cpm; h hf rIjyóemrsm;tay: jynfwGif;vkyfief; rsm;taejzifh pdk;&drfrIr sm;&SdaeNyD; awmif tmz&duESifh b&mZD;wdrmvnf; jyóem Yk S toD;oD;&SdaeMuonf/ 2014 ckESpfwGif awmiftmz&duESifh tdE,wdkrm ygvDref ´d Y S a&G;aumufyGJr sm;&SaeNyD; b&mZD;ESifh d wl & uD wdkY rmvnf; or® w a&G ; cs,f S wifajr§mufrIr sm;udk jyKvkyfoGm;&rnfjzpf onf/ tdE´,taejzifvnf; ygvDrefa&G;aumuf d h yGJESifh or®wa&G;aumufyGJ 2 &yfpvHk;udk jyKvyom;&rnfjzpfonf/ xdoYkd zGUH NzKd ;qJ k f G k aps;uGur sm;Ediia&;tajctaeaMumifh f kfH urÇmhpD;yGm;a&;rSmvnf; oufa&mufrI &SvmEdiNf y;D ,if;Ediir sm;taejzifvnf; d k k f H h urÇmhpD;yGm;a&;wGif ae&mBuD;BuD;rm;rm; ,lxm;aomEdkifiHr sm;jzpfonfhtm;avsmf pGm oufa&mufrIrSm BuD;rm;vdrfhrnfyif jzpfonf/ ,cka&G;aumufyGJr sm;aMumifh ,if;EdkifiHr sm;odkY &if;ESD;jr§KyfESHrIr sm;pD;0if rIt&Sdefu sqif;oGm;vdrfhrnfjzpfaMumif; vnf; od&onf/ -
  19. 19. INVESTMENT & FINANCE 19 Myanmar Business Today mmbiztoday.com January 16-22, 2014 is that the Fed has promised to keep rates low until at least respond sooner than this if they see the writing on the wall. While I see much danger in both stocks and bonds at curmakings of a coming opportunity for those who are patient there to be had. David Mayes MBA provides wealth management services to expatriates throughout Southeast Asia, focusing on UK Pension Transfers. He can be reached at david.m@faramond. com. Faramond UK is regulated by the FCA and provides advice on pensions and taxation. David Mayes A else panics, as this will certainly create some amazing buying opportunities. At the moment - before the holidays, it is a good my opinion is a safe place to wait for these opportunities to - Alongside cash I see trend following CTA funds (commod- s we are now into 2014 and will soon be busy - at what kinds of challenges and opportunities the coming year may bring, and try to reduce the Myanmar Summary ,cktcg 2014 ckEpxokdY a&muf&dSvm S f J NyDjzpfNyD; 2013 ckESpfwGif b@ma&; u@ tajctaersm;udk jyefvnfoHk; oyfEdkifonfh tcseftcgaumif;wpfckyif d jzpfonf/ xdkYtjyif ,cktcsdeftcgonf rnf onfh pdefac:csufrsm;ESifh tcGifhtvrf; aumif ; rsm ;udk vnf ; vmrnfh ESp f wGif apmif h Bud K aeonf v J q d k o nf h t csuudk f Munf½ok;H oyf&efvnf; tcsetcgaumif; h I df wpfckyifjzpfonf/ ,ckESpfonf tvGefpdwf0ifpm;zG,f aumif;aom ESpwpfEpjf zpfovdk pGefpm; f S Y &if q d k i f & rnf h tEÅ &m,f r sm;vnf ; &Sda e onf/ vGefcJhonfhESpfwGif zGHUNzdK;NyD; urÇm pawmhaps;uGufr sm; tajctae aumif;wpfcukd ydiqicovdk ,ckEpwif k k f kd f hJ S f G vnf; tvm;wlaumif;rGefaom tajc taeudkawGUjrif&rnfavm[lonfh ar;cGe;f udk ar;p&m&Sdvmonf/ pawmh a ps;uG u f r sm; wdk ; wuf vmrI twGuf t"dutaxmuftyHhay;cJhaom tcsufrSm A[dkbPfr sm;taejzifh pD;yGm; a&;wdk;wufrIEIef;usqif;vmonfhtcsef d wGif aiGaMu;qdkif&mvIHUaqmfrItpDtpOf rsm;udk vIUH aqmfay;cJonf/ twdk;EIe;f xm; h rsm;tm; avQmcsay;jcif;aMumifh aiGaMu; h acs;,lEirtwGuf taxmuftuljzpfchJ kd f I ovdk &if;ESD;jr§KyfESHrIrsm;udkvnf; aqmif &GufEdkifcJhMuonf/ xdkYtjyif A[dkbPfrsm;taejzifh aiG aMu;½duxway;rIuokYd aiGaMu;vHUI aqmf k f k f hJ rItpDtpOfr sm;udk pD;yGm;a&;wdk;wufrI EIe;f usqif;aeonftcsewif aqmif&uf h df G G cJhaomfvnf; ,cktcg urÇmhpD;yGm;a&; taejzifh zdtm;rsm;rS vGefajrmufvm onfhtoGif&SdaeonfhtwGuf A[dkbPf rsm;u tqdkygaiGaMu;vHIUaqmfrItpD tpOfr sm;udk avQmhc srIr sm; (odkYr[kwf) &yfwefrr sm; jyKvyom;rnfyifjzpfonf/ Y I k f G aiGacs;pmcsKyfr sm;twGufvnf; tajc taeaumif;wpf&yfrm Federal Reserve S rS twdk;EIef;xm;rsm;udk tenf;qHk; 2015 txd avQmhcsay;oGm;rnfqdk onfhtcsufyifjzpfonf/ odkYaomfvnf; aiGaMu;vHIUaqmfrItpDtpOfr sm; avQmhcs rI jyKvkyf cJh v Qif ,ck p awmh aps;uGuf wd;k wufrr sm;tay: oufa&mufrvnf; I I &Sdvmvdrfhrnfyifjzpfonf/ way to hedge exposure in stocks and bonds. If the stock and bond markets continue to tick ahead but also one fraught with danger. stock markets soaring to new highs last year, a question many are asking is if this year will see prices higher has been the central banks of the world printing money, and this is expected to a portfolio with trend followers (who typically do best in times way to participate without fear that all will be lost when we tion point. Picking tops and bottoms in the markets is a losing game, so I would recommend the - near zero interest rates and there is a good chance that the As for the bond market, this has been teetering on the edge in Myanmar in a number of strategic sectors, and our key strength is that we are a partner of choice for many international companies looking to expand into Myanmar.” ,ma&mif ; 0,f a &;pif w mok d Y vma&muf a vQmuf x m;Ed k i f onf/ &S,f,mrsm;udk 'g½dkufwm tzGJU cGJa0rItwdkif; OD;&mvl pepfNzif h a&mif;csay;oGm;rnfNzpf onf/ xkotpk&,,mopfr sm;xyfrH d Ydk S f a&mif;csjcif;rS &&Sdvmonfh &if;ESD; aiGrsm;tm; ukrPrS vuf&dS vnf Ü D equal amount spread across a few trend following funds with long track records (15+ years). The remainder is best left in cash so that if either the stock or bond market do see a panic there is ammunition to pull the trigger when the bargains are ywfaqmif&uaeonfh pD;yGm;a&; G f vkyfief;rsm; wkd;csJU&efESifh b@m a&;tajctaeukd wk d ; jr§ifh& ef twG u f t ok H ; jyKoG m ;rnf j zpf onf/ ]]uk r Ü P D & J U zG H U Nzd K ;wk d ; wuf r I e J Y ywf o uf vdk Y pd w f v I y f & S m ;zG , f aumif;w,fvkdYqdkEkdifwJY ,ckvkd tcgrsKd;rSm tpk&S,f,m&SifawG taeeJY FMI ukrÜPD&J U tpk &S,f,mrsm;ukd tckvkd 0,f,l tm; ay;cJwtwGua&m ukrPD h hJ f Ü tay: qufvuf,kHMunfrI&wJh Sd twGufyg uRefawmfwkdYu txl; yJ aus;Zl;wif&Sdygw,f}}[k FMI ukrÜPD Ouú|jzpfol OD;odrf;a0 rS ajymMum;onf/ ]]uRefawmfwkdYtaeeJY ,ckvkd tpk&S,f,mawGukd ykdrdka&mif;cs ay;oGm;zkdY qkH;jzwfcsufcsEkdifcJh jcif;[m trsm;jynfoawG&JU odod l omom pdwyg0ifpm;rIrsm;aMumifh f jzpfNyD; 'g[m aps;uGuftaeeJY FMI ukrÜPDa&&Snfwdk;wuf BuD ; yG m ;vmzk d Y t wG u f o mru &v'faumif;awG&&SdzkdY ukrÜPD&JU pD r H c ef Y c G J r I t &nf t csif ; tay: ,k H M unf t m;xm;aMumif ; jyo jcif;&J U ckirmwJh taxmuftxm; d f wpfckygyJ}}[k4if;uajymonf/ tpk&,,m&Sirsm;tm;&S,,m S f f f wpfckvQif 10000 usyfEIef;jzifh tpk&S,f,m 2500000 ukd a&mif;csc&mwGif &S,,mavQmuf hJ f xm;rIumvonf Zefe0g&Dv 8 &ufaeYwGif NyD;qHk;cJhonf/ vuf&&,,m&Sirsm;onf vuf dS S f f 0,fykdifqkdifxm;aom tpk&S,f ,m 6 ckwkdif;twGuf tpk&S,f ,mtopf 1 ck xyfrH0,f,lcGifh Reuters ing up dimes in front of a steam roller. One good thing for bonds of 25-40 percent split between &&SdcJhonf/ ]]uReawmfwdtaeeJY uReawmf f kY f wkdY vuf&Sdvnfywfaqmif&Gufae wJh vkyfief;awGukd xdxda&muf a&mufwkd;csJUoGm;EkdifzkdYeJY vmrnfh 2ES p f 3 ES p f t wG i f ; rS m tvk y f t ukdiftcGifhtvrf;opfawGpwif azmfaqmifay;oGm;EkizkdYtwGuf d f uRefawmfwkdY&JUb@ma&;tajc taeukdxyfrHtm;jznfhxm;zkdYvkd ygw,f}}[k½;dk rbPf Ouú|vnf; jzpfolOD;odrf;a0rSajymonf/ NyD;cJhonfhvu FMI onf Yoma Strategic Holdings Ltd ESifhtwl jrefrmEdkifiHwGif Mitsubishi ESifh Hino trSwf wHqdyfarmfawmf,mOfrsm;jzefYcsd a&;ESijhfyifqifBuUH cdia&;aqmif½uf kf G rIvkyfief;udkaqmif&Guf&efurPD kÜ rsm;wnfaxmifcJhNyD;jzpfonf/
  20. 20. INVESTMENT & FINANCE 20 Myanmar Business Today mmbiztoday.com January 16-22, 2014 Frontier Sustainable: Myanmar’s Opportunity Indonesia, $77 in Laos, and $90 Dr. Maximilian Martin M yanmar opened its tion center on January 5 in the new capital of Nay Pyi Taw. This would be the main Myanmar’s chairmanship comes at a watershed moment. As a nation, leading the ASEAN tion of the scale of opportunity that has resulted from the reform process that has been occurring since 2011, showcasing both the extent of the road thus track for the planned national election in 2015. powerful. Myanmar’s term coincides with a delicate moment for the apparel industry, which is the leading export engine in ing economies. For ASEAN members such as Cambodia, garment exports now account for roughly 75 percent of total merchandise exports and represent about 10 percent of GDP; comparable statics are true of other ASEAN members. Despite this, apparel is an industry routinely plagued by poor working conditions and lapse of the Rana Plaza factory in neighbouring Bangladesh in satisfy. But how the apparel inpath, though its readymade garment industry is still small. factories currently operate in the country, which is tiny when compared to major sourcing locations in South Asia. Myanmar earned about $917 million in 2012, progressing from $770 million in 2011. Apparel exports to South Korea. The industry is growing fast, higher cost locations such as neighbouring Thailand. Factories are currently operating based on a Cut, Make, Trim aims to upgrade its production systems from a contract manufacturing (more than 90 percent of national factories) to Original Equipment Manufacturing (OEM) and Original Brand Name Manufacturing (OBM) be supported by an adapted legfor export potential are about $5-6 billion within a few years. Most recently, the Myanmar ment in the country’s garment manufacturing industry. This has generated major interest than 1,100 workers, working come under serious scrutiny. The systemic issues the industry faces were further highlighted when the recent two-week nationwide strike for higher wages in Cambodia’s readymade garment industry was ended by the police using force, killing at least four protesters. Myanmar now has South and Southeast Asia’s lowest garment to $68 in Bangladesh, $68 in tors from China, Japan and U Aung/Xinhua and meetings of the Association of Southeast Asian Nations (ASEAN), which the country will chair for one year in 2014. It actually hosted the ASEAN Coordination Committee on faced rises in garment wages. Based on size alone, Myanmar has lots of potential. It is geographically roughly the size of the state of Texas, or Germany and Italy combined, and contains about 60 million inhabitants, as well a migrant population. Myanmar is logisic equipment manufacturing needs that other markets can - installed infrastructure are a few additional features that are critical to conditioning the growth potential of the apparel industry in Myanmar. Yet there are problems on the ity gains (economic, social, seeks to seize the opportunity. The migration to Myanmar of the poor working conditions that are routinely tarnishing the by and large untapped. 20 percent of chemical inputs, up to 40 percent of energy, and up to 50 percent of water can sourcing locations would be a disaster. The risk of a growth path that simply leads to a production cluster with thousands of sweatshops, thus recreating is redesigned, infrastructure upgraded, and workers and management appropriately - associated with the apparel industry in neighbouring Bangladesh, is real. In fact, a respondent to an this transformation has been missing. To help address this need, Impact Economy – a global recently conducted on the future of the global apparel industry commented that one of his worst fears is a “transfer of the industry to Myanmar with no local NGOs or unions, [and] exploitation of workers.” The good news is that a sounder approach is possible, one that links greater competi- “Creating Sustainable Apparel Value Chains”. The goal of the report is to make the needed industry stakeholders can start to build a common way forward. The structural frame laid out in the report links greater resource agenda that enhances working mance. Although the textile and garment industry has built a long track record as an engine Myanmar now has South and Southeast Asia’s lowest garment wages at $30-35, compared to $68 in Bangladesh, $68 in Indonesia, $77 in Laos, impact. For this industry transforma- transparency across the supply chain; (2) using (impact) tackle working conditions with and $90 in Vietnam. Contd. P 21... Myanmar Summary jrefrmEdkifiHwGif Zefe0g&Dv 5 &ufaeY u International Convention Center udk aejynfawmfwGif zGifhvSpfcJhonf/ xdkodkY zGifhvSpfEdkifcJhrIaMumifh tmqD,Htoif; Bu;D a'oqdi&mawGUqHaqG;aEG;yGr sm; k f k J twGuf t"duusif;y&mae&mwpfckjzpf vmrnf j zpf N yD ; jref r mEd k i f i H t aejzif h 2014 ckESpfwGif tmqD,HOuú|&mxl;udk wm0ef,aqmif&uom;&rnfjzpfonf/ l G f G vGefcJhonfhtywfwGifvnf; tmqD,H &if;ES;D jrK§ yErqi&mn§Ei;f aqmif&ua&; f HS I kd f d Id G f aumfrwD aqG;aEG;yGJudkvnf; jyKvkyfcJh onf/jrefrmEdiitaejzifh tmqD,Ouú| k f H H &mxl;tm; ta&;ygaomtajymif;tvJ tajctaewpf&yfwif &&ScjJh cif;vnf;jzpf G d onf/jrefrmEdiitaejzifh tmqD,Ouú| k f H H wm0eftm; xrf;aqmif&rIonf tcGifh tvrf ; aumif ; rsm ;pGm&&S d a pEdkif o vdk 2011 ckEpuwnf;upíBuKd ;yrf;aqmif S f &Guconfh jyKjyifajymif;vJrrsm; &v'f f Jh I wpfckvnf;jzpfonf/ odkYaomfvnf; jrefrmEdkifiHtaejzifh tm;enf;aeao;onfhu@rsm;vnf;&Sd aeao;onf/ tmqD,Ha'o zGHUNzdK;qJ Ediir sm;wGif t"duxdywef;yduewpfck k f H f Yk k f jzpfonfh txnftvdywifyrrm jrefrm f kYd I S Ediiwif tm;enf;aeao;onf/ tmqD,H k f H G tzGUJ 0ifEiiwpfcjk zpfonfh uarÇm'D;,m; kd f H txnftvdyfwifydkYrIrSm ,cktcg ukefpnfwifydkYrIpkpkaygif; 75 &mcdkif EIef;txd&SdaeNyD; pkpkaygif;jynfwGif;xkwf ukef 10 &mcdkifEIef;udkvnf; txnf tvdyfwifydkYrIjzifh &&Sdaeonf/ odkYaomfvnf; txnftvdyfvkyfief; ydi;f wGif vkyief;aqmif&u&onftajc k f G f h taersm;ESifh npfnrf;aprIrmvnf; jrifh S rm;aeonfhtaetxm;wGif&Sdaeonf/ b*Fvm;a'h&SfwGif 2013 ckESpf {NyDvü Contd. 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  21. 21. 21 INVESTMENT & FINANCE Myanmar Business Today mmbiztoday.com January 16-22, 2014 (4) understanding and reproducing the best practices of frontrunner producers. As the reform path continues, Myanmar’s garment industry has the potential to grow well beyond $6 billion in annual is successful and issues such as compliance with basic worker issues and factory safety stand- ards, standardised payroll, and minimum wages can be adable production is important for social peace, attracting foreign sure that the priorities of the ASEAN roadmap in relation to Community are properly implemented. American sanctions initiated with an arms embargo of which are critically needed stantial sector growth. Myanmar, in its role as chair of the ASEAN this year, will play a leading role in making well as a ban on imports from Myanmar, are now history. The nation’s opening up to the world after decades of closing has the potential to usher in a a year from 2014/15 to 2018/19, U Aung/Xinhua 12 percent in 2000/01). Myanmar is now in a position ASEAN Vision far beyond 2015. Combining humane working conditions and simultaneously mental footprint and competi- Samrang Pring/Reuters should be a key to the ASEAN responding sector policies. Maximilian Martin, Ph.D. is the founder and global managing director of Impact Economy. Before founding the global head and managing director of UBS Philanthropy Services. Dr. Martin also creon social entrepreneurship in Europe. Rana Plaza puf½HkNydKuscJhNyD; tvkyf orm;aygif; 1100 ausmf aoqHk;cJh& onf/ vHkNcHKpdwfcspGmtvkyfvkyfudkifEdkif onfh tajctaerSm tav;xm;&rnfh udpö&yfwpfcktjzpf &Sdvmonf/ uarÇm 'D;,m;wGivnf; vkycvpmEIef;xm;rsm; f f ydrw;kd jriay;&eftwGuf qE´jyawmif;qdk k kd § hf rIrsm; jzpfyGm;cJhNyD; tpdk;&rS tiftm;oHk; um ajz&Sif;cJhonfhtwGuf tenf;qHk; qE´jyol 4 OD; aoqHk;cJh&onfh 0rf; enf;zG,fjzpf&yfrsm;vnf; &SdcJhonf/ jref r mEd k i f i H o nf a wmif t m&S E S i f h ta&S U awmiftm&SwGif txnftvdyf vkyfief;wGif vkyfcvpmEIef;tenf;qHk; ay;aomEd k i f i H w pf c k j zpf N yD ; tar &d u ef a ':vm 30 r S 3 5a':vmtxd omay;aMumif;vnf;od&onf/ b*F v m;a'h & S f E d k i f i H w G i f t ar&d u ef a':vm 68 a':vm? tif'dkeD;&Sm;wGif tar&duefa':vm 68 a':vm? vmtdkwGif tar&duefa':vm 77 a':vm? AD , uf e rf w G i f t ar&d u ef a':vm 90 a':vmay;NyD; xdkEdkifiHr sm; tm;vHk;rSm txnftvdyfvkyfief;wGif vkyfcvpmrsm;wdk;jr§ifhay;&ef awmif;qdk rIrsm;udk BuHKawGUcJh&onfhEdkifiHr sm;vnf; jzpfonf/ t&G,tpm;wpfcwnf;udom f k k tajccHwucsuMf unfrnfqvQif jrefrm G f h kd EdifiHwGif tvm;tvmaumif;rsm;pGm&Sd k aeonf/yx0Dtaetxm;t& us,jf yefY ovdk vlOD;a&rSmvnf; oef; 60 &Sd onf/
  22. 22. INVESTMENT & FINANCE 22 Myanmar Business Today mmbiztoday.com January 16-22, 2014 biggest increases in legal and strengthen the legal and regula- Argentina, Bahrain, Bangladesh and Egypt. Maplecroft states that the said Maplecroft Senior Analyst Chris Laws. Myanmar’s commitment has resulted in a steady climb in the ranking from worst position at the bottom of the ranking in countries is being curtailed by factors such as a lack of respect for the rule of law and property tion, increasing regulatory rd and 5 in 2014. Despite the modest shift in th resulting from instability. Maplecroft forecasts that if Myanmar sustains its current the “extreme risk” category in less than three years. caution notwithstanding FT Challenges remain the lack of rule of law and interference in business by a wide range or strengthen their position through the use of resource nationalism, as witnessed in Venezuela and Argentina in including the military, continue said. Myanmar’s commitment to upholding rule of law continues ship of Myanmar Brewery Ltd, between the military controlled likely to be undermined, Maplecroft said. “The country’s current lack of ance still raises serious concerns and it remains a challenging place to do business,” Laws said. Resource or curse Resource-rich countries As well as presenting major ance and corruption can also dance of natural resources, Maplecroft added. The legal and regulatory enhydrocarbon rich growth marrd ), Russia th th ), Indonesia (70 ), and the Philippines (77th), meanwhile, are categorised as posing a Surprise inclusions Senegal, Guatemala, Mozambique and Rwanda, meanwhile, are among the countries with report. Legal mechanisms and regulatory structures are typically well entrenched features of a country that are not subject to the “extreme risk” category in the LRERA and include: Turkrd ), DR Congo (4th), th Myanmar (5 ), Central African Republic (7th), South Sudan (8th), Venezuela (12th), Libya th ), Zimbabwe (14th), Iran th (16 ), Angola (19th (21st) and Iraq (24th). Legal and regulatory risks impacting property rights are of particular concern in resourcerich countries. Despite soften- from 28th to 51st (1st place is considered the highest risk in the LRERA), Guatemala went from nd to 61st, Mozambique 40th to st 71 , and Rwanda 66th to 101st. These decreases in risk were the past year, societal unrest and poor economic conditions can act as risk multipliers in - “Company assets, especially those in the mining and oil and gas sectors, can become subject to nationalisation and - ance, to reduce regulatory hurdles, to combat corruption Maplecroft said. Risk hot spots Aside from Myanmar (5th), the countries posing the highest legal and regulatory risks st ), nd North Korea (2 ), Turkmenird ), DR Congo (4th), Syria th (6 ), Central African Republic (7th), South Sudan (8th), Eritrea (9th) and Afghanistan (10th). A further 16 countries are also Maplecroft. Outside of these markets, the an increase in risk, due to facintroduction of destabilising These include: Syria, which dropped to 6th from 29th in 2010, Guinea (15th from 42nd), Bangladesh (29th from 52nd), ), Mali ), Argentina (59th from 78th) and Bahrain (122nd rd ). Rule of law, including judicial independence and efnd th rd rd corruption and remains weak in a large number of countries, particularly in Asia, Africa and the Middle East, Maplecroft said. This lack of rule of law continues to contribute to regime instability in those countries that witnessed regime change during the Arab Awakening of 2011, as well as many other countries with potential for societally forced regime change, rd ), th Cambodia (28 ) and Viet Nam rd ). Since 2009 some of the t p&S d onf h t c suf r sm; ud k jyK jyif ajymif;vJrIr sm;jzifh csOf;uyfaqmif&Guf EdkifcJhaMumif; azmfjyxm;onf/ vGefchJonfhESpfwGif pGefYpm;&ifqdkif& rnfh tajctaersm;udk avsmyg;vmapEdif h k atmif odoomomaqmif&uEiconfh d G f kd f hJ wpfckwnf;aomEdkifiHrSm jrefrmEdkifiHyif jzpfaMumif;tqdygppfwrf;t&od&onf/ k jrefrmtpdk;&taejzifh &if;ESD;jr§KyfESHol rsm;twGuf tumtuG,faumif;rsm; ydkrdkay;vmEdkif&eftwGuf ta&;ygaom aqmif&GufrIrsm;udk jyKvkyfcJhNyD; 2013 ckESpf rwfvwGifvnf; EdkifiHjcm;&if;ESD; jr§KyfESHrI p nf ; rsOf ; pnf ; urf ; opf r sm;udk taumiftxnfazmfaqmif&uEiconf/ G f kd f hJ w&m;0ifta&;udpörsm;ESifh pnf;rsOf; pnf;urf;ydkif;qdkif&mrsm; ydkrdkcdkifrmvm atmif BudK;yrf;cJhaom jrefrmEdkifiH aqmif & G u f c suf r sm;rSm csD ; usL;xdkuf aMumif; Maplecroft tBuD;wef; pdppfolwpfOD;jzpfonfh Chris Laws u ajymMum;cJhonf/ ,cifu jrefrmEdkifiHtaejzifh pD;yGm; a&;&if;ESD;jr§KyfESHolrsm;twGuf tmrcH csufay;EdkifonfhtajctaerSm 2012 ckESpfwGif Z,m;atmufajcüf tqdk;qHk; taetxm;jzifh &yfwnfcJh&NyD; 2013 ckESpfwGif Z,m;atmufajcrS wwd, ajrmufae&modkY wufvmNyD; 2014 wGif yÍörae&modk Y wufvmonf/

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