June 12-18, 2014

Myanmar Business Today

mmbiztoday.com
mmbiztoday.com June 12-18, 2014| Vol 2, Issue 23 MYANMARS FIRST BILINGUAL BUSINESS JOURNAL
Contd. P 19...(;,o,ooo) Contd. P 19...(;,o,ooo)
Inside MBT
The Quest for Talents: Devel-
oping Myanmars Labour Mar-
ket P-5
,go,ooo Tonnes oI LeIt Logs
to Be Sold Viu Open Tenders
Teak production to be cut down by a third
M
ore than half a
million tonnes
oI Iogs wIIcI
ure IeIL uL wood yurds
throughout Myanmar fol-
IowIng u sLuLe-Imposed
Iog exporL bun wIII be
up for sale soon through
open tenders, a minister
suId.
As LIe governmenL en-
Htun Htun Minn Iorced u bun on exporLs
oI ruw LImber Irom AprII
1, over ;o,ooo Lonnes oI
Iogs goL sLuck In LImber
yurds uround LIe counLry.
However, exporLs oI suwn
und processed wood ure
sLIII uIIowed.
TIe IeIL Iogs wIII be
sold to enterprises that
cun use LImber Lo muke
hnIsIed wood producLs
or mIIIs LIuL cun cuL und
process Iogs Ior suIe, U
Aye MyInL Muung, depuLy
minister for environmen-
LuI conservuLIon und Ior-
esLry, LoId LIe purIIumenL.
The minister said teak
und Iurdwood produc-
LIon wIII conLInue despILe
the export ban to develop
LIe counLry`s wood-bused
industries, but the gov-
ernmenL Ius decIded Lo
decreuse processed Leuk
ouLpuL by u LIIrd LIIs hs-
cuI yeur Lo suve Myun-
mur`s vunIsIIng IoresLs.
TIe mInIsLry Ius Im-
plemented a log export
bun (EB) InsLeud oI u
IoggIng bun. TIIs wIII pre-
vent deforestation and
ensure long-term use of
our nuLuruI resources. We
Iuve decIded Lo reduce
LIe ruLe oI Leuk produc-
LIon yeur by yeur, Ie suId.
Myunmur wIII produce
onIy 6o,ooo Lonnes oI
Leuk und 6;o,ooo Lonnes
oI Iurdwood In zo1q-1
hscuI yeur, LIe mInIs-
Ler suId. n zo1-1q Y,
LIe counLry produced
q,1;8 Lonnes oI Leuk und
61o,qz Lonnes oI Iurd-
wood, uccordIng Lo mInIs-
Lry duLu.
A LoLuI oI o6,zq
tonnes of teak and
1,q8,o; Lonnes oI Iurd-
wood were produced In
zo11-1z Y, wIIIe zo1z-
1 suw producLIon oI
z6q,16 Lonnes oI Leuk
und 1,q;,;q8 Lonnes oI
Iurdwood.
Wood und wood-bused
producLs exporL eurned
Myunmur $qq; mIIIIon
last year, making it one of
LIe Lop IoreIgn currency
earners in the Southeast
AsIun counLry. Teuk Ius
been u mujor resource Ior
Myunmur Ior cenLurIes,
und wus un ImporLunL
source oI Income Ior LIe
BrILIsI durIng ILs coIonIuI
ruIe In Myunmur.
AccordIng Lo u zo1o
oresL Resource Assess-
menL (RA) reporL, Ior-
esLed ureus uccounL Ior
ubouL q; percenL oI LIe
counLry, down Irom 8
percenL In 1qqo - u Ioss oI
;,qq,ooo IecLures (18.
mIIIIon ucres) oI IoresLed
ureus durIng LIuL perIod.
WILI IoresLs coverIng us
mucI us ;o percenL oI
Myanmar at the time of
Independence, Myunmur
Ioses o. percenL oI ILs
IoresL cover unnuuIIy.
Myanmar possesses the
IurgesL expunse oI LropIcuI
forest in mainland South-
eusL AsIu wILI u bIodIver-
sILy mucI greuLer LIun
LemperuLe IoresLs. As oI
zo1o, Myunmur`s IIvIng
IoresL bIomuss IoIds 1.6
bIIIIon meLrIc Lonnes oI
curbon und Is Iome Lo
over 8o endemIc specIes.
Despite the diversity and
size of Myanmars for-
esLs, onIy 6. percenL oI
LIe Iund Is proLecLed und
mucI oI IL Is under LIe
LIreuL oI deIoresLuLIon.
A reporL submILLed Lo
LIe HIuLLuw sLuLed LIuL
LIere ure q1 mIIIIon ucres
oI IoresL reserve, qo mII-
IIon ucres oI IoresLed Iund
und o mIIIIon ucres oI cuI-
LIvubIe Iund In LIe counLry,
wIIIe prIvuLe hrms Iuve
creuLed 1o;,q ucres oI
plantation under a replant-
ing program initiated by
LIe sLuLe.
n zo1q-1, LIe govern-
menL uIIoLLed K11o.q;
bIIIIon ($11 mIIIIon) Ior
its plantation programs,
parliament member U
Tin Maung Oo said in the
reporL.
Myanmar Summary
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A woman walks with children near logs at a timber yard in Yangon. As the government enforced a ban
on exports of raw timber from April 1, over 750,000 tonnes of logs got stuck in timber yards around
the country.
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Myanmar Tourism Federation
Lo EsLubIIsI TourIsm Bunk P-q
IrsL SLock ExcIunge by
OcL`1: MInIsLer P-
June 12-18, 2014
Myanmar Business Today
mmbiztoday.com
2
LOCAL BIZ
MYANMARS FIRST BILINGUAL BUSINESS JOURNAL
Board of Editors
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Ph - 09 40 157 9090
Reporters & Contributors
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DTP
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Translators
Wai Linn Kyaw, Phyu Maung,
Bone Pyae Sone
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Bosiness News in BrieI
US pr oposes si gni ng i nvestment pr otecti on
pact
The United States has proposed signing an invest-
menL proLecLIon pucL wILI Myunmur, IocuI medIu re-
porLed cILIng SecreLury Aung NuIng Oo oI LIe Myunmur
nvesLmenL CommIssIon. ArrungemenLs Iud been un-
derwuy Lo sIgn InvesLmenL proLecLIon pucLs wILI LIe US
und some wesLern counLrIes, Ie suId. A Iurge umounL
oI IoreIgn dIrecL InvesLmenL wIII ow InLo LIe counLry
uILer InkIng LIese ugreemenLs, Ie suId.
Myanmar Rai lways i nvi tes tender s for com-
mer ci al tower s
TIe sLuLe-owned Myunmur RuIIwuys (MR) Ius InvIL-
ed Lenders Irom IocuI, InLernuLIonuI und joInL-venLure
hrms Lo buIId communIcuLIon und commercIuI Lowers
on Iund Ieused neur more LIun qoo sLuLIons uIong over
6,oookm oI ruIIrouds LIuL beIong Lo IL. nLeresLed bId-
ders Iuve Lo send LIeIr Lenders Lo LIe MR om ce In Yun-
gon by AugusL .
Over 90pc of medi ci ne gr aduates unemployed
i n past decade
OnIy ;,o8o ouL oI over ;8,ooo medIcuI gruduuLes In
LIe pusL 1o yeurs couId be ubsorbed InLo empIoymenL,
DepuLy HeuILI MInIsLer TIun Aung suId In PurIIumenL
In response Lo u query by u Iuwmuker. He suId LIere
were z,o6 vucuncIes Ior docLors In LIe counLry uL pre-
senL und 1,16q docLors wouId be uppoInLed In zo1q.
Mgonmor inoites foreign prms for ollionces in
ener gy sector
The Energy Ministry has invited Letters of Expres-
sIon oI nLeresL (EO) Ior joInL venLures or uIIIunces
Irom compunIes Lo operuLe Iour drIIIIng rIgs owned by
LIe governmenL, und oLIer expIoruLIon-reIuLed ucLIvI-
LIes, boLI onsIore und osIore, IncIudIng consuILuncy
servIces. nLeresLed purLIes Iuve Lo submIL LIeIr IeLLers
Lo LIe Nuy PyI Tuw-bused energy mInIsLry by June o.
Anti -Chi na mood pr evai li ng i n Myanmar ,
war ns Chi nese medi a
An unLI-CIInu mood Is prevuIIIng In Myunmur wIIcI
LIII recenLIy wus regurded us one oI LIe cIosesL uIIy oI
LIe communIsL nuLIon und BeIjIng sIouId be on guurd
uguInsL un unLI-CIInu wuve LIere, u CIInese sLuLe-run
duIIy wurned. SpecIuI vIgIIunce sIouId be muInLuIned
ubouL LIe IucL LIuL unLI-CIInu senLImenL Is spreudIng
IusL In Myunmur socIeLy, un urLIcIe In LIe GIobuI TImes
suId.
Colgate-Palmoli ve to i nvest i n Myanmar
CoIguLe-PuImoIIve, u US-bused munuIucLurer oI uLIII-
LIes und IeuILIcure producLs, recenLIy regIsLered wILI
LIe Myunmur nvesLmenL CommIssIon (MC) Lo InvesL
In LIe counLry`s munuIucLurIng secLor, IocuI medIu re-
porLed reIerrIng Lo MC sources, buL guve no IurLIer
deLuIIs ubouL LIe proposuI.
MEP i nvi tes tr ansmi ssi on li ne and substati on
tender
TIe DepurLmenL oI Hydropower under LIe MInIsLry
oI EIecLrIc Power (MEP) Ius InvILed conLrucLors or joInL
venLures Lo submIL Lender proposuIs Lo buIId ILs 1zkV
LrunsmIssIon IIne und subsLuLIon. Tender documenLs
und more InIormuLIon ure uvuIIubIe unLII June z6 uL OI-
hce No.z;, Tender nvILuLIon CommILLee, DepurLmenL
oI Hydropower mpIemenLuLIon, MInIsLry oI EIecLrIc
Power, Nuy PyI Tuw. TIe Lender Ius Lo be quoLed In US
doIIurs und uppIIcuLIon submIssIon deudIIne Is 1zpm,
JuIy zq. More InIormuLIon cun be obLuIned by pIone uL
+qo6;q11, +qoqzoqqq, +qoqqoqzq8.
Tr ades r esume on Myanmar -Bangladesh bor -
der
Bilateral trades on Myanmar-Bangladesh border have
resumed uILer u Iew duys breuk IoIIowIng urmed cIusIes
beLween LIe border-guurd Iorces oI LIe Lwo counLrIes,
IocuI medIu reporLed, reIerrIng Lo some border sources.
1mphol-Mondolog prst ight on June z;
TIe hrsL cIurLered IgIL IInkIng ndIu`s norLIeusL
wILI Myunmur`s second IurgesL cILy MunduIuy wIII sLurL
on June z;, ndIun medIu reporLed. ocuI prIvuLe currI-
er GoIden Myunmur AIrIInes und ndIu`s KB EnLerprIse
Inked u deuI Lo sLurL u cIurLered IgIL beLween mpIuI
und MunduIuy on June . TIe ugreemenL uIms Lo puve
LIe wuy Ior reguIur IgILs. TIe uIrcruIL Lo be used Ior
LIe cIurLered IgIL Is un ATR-;z und cun seuL 6q pus-
sengers.
Myanmar Summary
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June 12-18, 2014
Myanmar Business Today
mmbiztoday.com
3
LOCAL BIZ
Iirst Stock Ixchunge by Oct'1g: Minister
Phyo Thu
M
yunmur wIII IuuncI ILs
hrsL sLock excIunge by
OcLober zo1 wIIcI
wIII be operuLed by LIe Myun-
mur EconomIc Bunk In purLner-
sIIp wILI Jupun`s Tokyo SLock
ExcIunge und DuIwu SecurILIes
Group, u mInIsLer suId.
Two IocuI pubIIc compunIes,
AsIu Green DeveIopmenL Bunk
(AGD) und Myunmur AgrIbusI-
ness PubIIc CorporuLIon (MAP-
CO) Iuve been upproved Ior
IIsLIng und unoLIer LIree wIII
be cIosen beIore LIe IuuncI oI
bourse, DepuLy Inunce MInIs-
ter U Maung Maung Thein said
uL u semInur.
To ensure LIe quuIILy und
compucLness oI LIe sLock ex-
cIunge we Iuve decIded Lo go
wILI onIy hve compunIes InI-
tially although there have been
muny uppIIcuLIons, Ie suId.
DuIwu SecurILIes Group und
LIe Tokyo SLock ExcIunge
signed an agreement in May
zo1z Lo IeIp seL up LIe excIunge
as Myanmar started to open up
IoIIowIng decudes oI bruLuI dIc-
LuLorsIIp.
Now DuIwu nsLILuLe oI Re-
seurcI Irom Jupun Is IeIpIng
LIem prepure sysLemuLIcuIIy Ior
listing after signing agreements
wILI LIese compunIes, wIIIe u
Iew more pubIIc compunIes In-
cIudIng Myunmur TIIIuwu SEZ
HoIdIngs PubIIc Ld ure ex-
pecLed Lo IoIIow suIL soon, Ie
udded.
TIe TIIIuwu economIc zone
outside Yangon is still being de-
veIoped. An IndusLrIuI esLuLe Is
expecLed Lo open In mId-zo1
and the zone should eventually
A woman leaves the Myanmar Securities Exchange Centre (MSEC), a joint venture between state-owned Myanma Economic
Bank and Daiwa Institute of Research Ltd, a unit of Japans second-largest brokerage, in Yangon. Myanmar will launch its very
rst stock exchange by Uctober 2U15, a minister said.
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;
Iuve u porL, u power pIunL und
wusLe wuLer LreuLmenL pIunLs.
AGD Bunk opened ILs hrsL
bruncI In AugusL zo1o In LIe
cupILuI Nuy PyI Tuw und IL now
Ius q8 uround LIe counLry, uc-
cordIng Lo ILs websILe.
Ye MIn Aung, munugIng dI-
recLor oI MAPCO, conhrmed IIs
compuny`s InLeresL In IIsLIng.
DuIwu Is now IeIpIng us Lo be
In IIne wILI LIe sLundurds und
prucLIces oI InLernuLIonuI pubIIc
compunIes, Ie suId.
TIe new sLock excIunge wIII
be IocuLed In u Iormer cenLruI
bunk buIIdIng on LIe corner oI
MercIunL SLreeL und SuIe Pu-
godu Roud In LIe cenLre oI Yun-
gon.
Myanmar already has an
over-LIe-counLer bourse, LIe
Myunmur SecurILIes ExcIunge
CenLer (MSEC), buL IL Ius onIy
Lwo IIsLed hrms.
TIe LIree componenLs Ior LIe
emergence oI u cupILuI murkeL -
IormuLIon oI u securILIes und ex-
cIunge commIssIon, IuuncI oI
Myunmur`s hrsL sLock excIunge
und prepuruLIon by compunIes
Lo be IIsLed - ure LukIng pIuce
simultaneously, the minister
suId.
Myunmur enucLed LIe SecurI-
LIes und ExcIunge uw In JuIy
zo1 Lo puve LIe wuy Ior LIe
IuuncI oI LIe excIunge.
TIe DIrecLoruLe oI nvesLmenL
und CompunIes AdmInIsLruLIon
(DCA) Ius uIso been LryIng Lo
encouruge LIe pubIIc Lo InvesL
In LIe pubIIc compunIes.
PubIIc compuny uppIIcunLs
were LoId Lo Iuve uL IeusL seven
initial holders, to sell unlimited
sIures Lo LIe pubIIc, Lo be un
economIcuIIy susLuInubIe busI-
ness, to employ skilled labour
and to submit the name list to
LIe InsLILuLIons concerned.
AppIIcunLs ure uIso noLIhed Lo
advertise in dailies and other
medIu LIeIr sLurL-up cupILuI,
business priorities, share port-
IoIIo, membersIIp In LIe hrsL
bourd oI dIrecLors und quuIIhcu-
tions, share transfer and deal-
Ing, prohL sIurIng, uudIL und
eIecLIng bourd oI dIrecLors.
Myanmar Summary
Iisheries Iurmers to Get $1.g-m Gov't Grunt
May Soe San
T
he Rural Development
Bunk (RDB) under LIe
MInIsLry oI IvesLock
Breeding, Fisheries and Rural
DeveIopmenL wIII grunL K1.
bIIIIon ($1. mIIIIon) Lo IIve-
sLock breeders und hsI Iurmers
by LIIs monLI, U WIn KyuIng,
secreLury oI Myunmur IsIerIes
ederuLIon (M), suId.
TIe K1.-bIIIIon Ioun wIII
be grunLed Ior hsI und pruwn
cuILure on z,ooo ucres oI Iund
(K;o,ooo per ucre) us purL oI
u muIden pIIoL projecL oI RDB
In Yungon, Bugo und Ayeyur-
wudy regIons. PrevIousIy, onIy
Kzoo,ooo ($z1o) Ioun wus
grunLed per ucre.
I LIe Ioun Is seen eecLIve,
more Iouns wIII be provIded, U
WIn KyuIng suId.
TIe RDB wIII provIde up Lo
Ko mIIIIon ($1,ooo) Ior smuII
hsI Iurmers, und LIe InLeresL
ruLe Ior LIe one-yeur Ioun Is 1z
percenL. TIe Ioun uppIIcuLIons
wIII be scruLInIsed properIy
und Iouns wIII noL be grunLed
Lo LIose wIo Iuve uvuIIed bunk
Iouns beIore, U WIn KyuIng
suId.
Myunmur`s IIvesLock und hsI-
erIes secLor Is currenLIy mIred
wILI decIInIng producLIon ruLe
und Iuck oI InvesLmenLs, und
the government aims to give the
grunL Lo IuIhI LIe need Ior cupI-
LuI, Ie suId.
Earnings from marine exports
IeII by $;6 mIIIIon In LIe IusL
Len monLIs oI LIe zo1-1q hscuI
yeur, uccordIng Lo LIe mInIsLry,
mosLIy due Lo dwIndIIng murIne
resources.
PrevIousIy, onIy LIe IvesLock
und IsIerIes Bunk, currenLIy
WorId Treusure Bunk, provIded
Iouns Lo Iurmers. RDB wIII pro-
vIde Iouns Lo LIose wIo Ius u
hsIerIes IIcence - Nu u q.
TIe new Iouns wIII be good
Ior Iurmers. n zo1o, wIen LIe
vuIue oI doIIur wenL down, ex-
porLers Iuced bIg Iosses. Some
IosL IuII LIeIr cupILuI und pro-
ducLIon uIso decreused. Now
LIey wIII be ubIe Lo geL cupILuI,
hsI Iurmer U WIn Kyuw Irom
TwunLe LownsIIp, Ayeyurwudy
regIon, suId.
However, CIuIrmun oI Ive-
sLock und IsIerIes ederuLIon
U WIn SeIn suId LIe muIn cIuI-
Ienge wouId be Lo recover uII LIe
loans as some might not be able
puy buck LIeIr debLs.
UnIorLunuLeIy, IIvesLock
breeding businesspeople are
now IucIng Iosses IrequenLIy.
Theres a lot of risk in this busi-
ness now.
SomeLImes bunks ure reIuc-
LunL Lo gIve Iouns becuuse oI
LIIs. BuL our IederuLIon wIII rec-
ommend Iurmers wIo ure eIIgI-
bIe Ior LIe Ioun.
Myanmar Summary
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Contd. P 11...(Fisheries)
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~._.:._.
..~: ~ ~ . , ..~ . ~ .:..q: .
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~:.~ ~:q....,.e_e..q.~
(AGD) . _., .: .e e:. .. :.~.:.
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|.. ~ .~:..q .. e :.._ ~: .
.~,_~.~ ._.:._. ..~:~~.,.
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, . . ..: .~ .~ ~ . . ..: . :.
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....|...:q~.._~:. .~e
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.. ~ q, ~ , _. ~ , ._ .. .. . ...
q:.....:q -e~,..e:.
~ e...:..__e.._~:. .q
._.
June 12-18, 2014
Myanmar Business Today
mmbiztoday.com
LOCAL BIZ
4
Myanmar Summary
Myanmar Summary
Mitsubishi Inks Water
Treating Deal
Wai linn Kyaw
M
ILsubIsII Ruyon Co Ius concIuded u dIsLrIbuLor con-
LrucL wILI Myunmur WuLer EngIneerIng und Prod-
ucLs Co Lo sLrengLIen ILs wuLer LreuLmenL mem-
brune busIness In LIe counLry.
n uddILIon Lo servIng us u dIsLrIbuLor, Myunmur WuLer En-
gIneerIng, bused In Yungon, wIII conducL wuLer quuIILy unuI-
ysIs Lo IeIp LIe compuny deveIop und seII wuLer LreuLmenL
membrunes LIuL meeL IocuI needs, uccordIng Lo MILsubIsII
Ruyon.
Demund Ior wuLer LreuLmenL membrunes Is expecLed Lo
grow In Myunmur wIere reguIuLIons on druInuge ure becom-
Ing LougIer, un omcIuI uL MILsubIsII Ruyon, u unIL oI MIL-
subIsII CIemIcuI HoIdIngs Corp, suId.
MILsubIsII Ruyon Ius sImIIur conLrucLs In pIuce In SIngu-
pore und VIeLnum.
...q.qe,~.~.__.,.:.q Water Engineering and
Product ~.~.....|._.q...,.,...,..:...~q,.:..
.. . . ._~: . . q._ .
~..|.:..~q.. . q ._ _._ ~ .~ . ~ ~. . . . ...| ._.q~
q_~....,...._ . . , ..:.~ . ...| .. . ~ . :..__e._...q..
.,.,...,..:.~._.q,~,_.~.~..~q._.q. ..,. . .
, ..:.~ . ...| ...: q~.:.._e.q._.
...q.qe,._.~:..-e~,..~ ~ ._ .~. .|. .
, ..:.. . ~ q, .:.....:.._~:. .q._.
Jude Boyers to Puy 1opc eposit Irom o1g
Kyaw Min
F
oreIgn und IocuI jude buy-
ers wIII Iuve Lo puL down
u deposIL oI 1o percenL
of the value of gems to be pur-
cIused sLurLIng Irom nexL yeur,
U Kyuw HLuy, hrsL secreLury oI
Myunmur Gems EnLrepreneurs
AssocIuLIon, suId.
We decIded Lo Luke sucI
meusure becuuse In LIe pusL
muny buyers decIded Lo buy
judes und cIunged LIeIr mInds
IuLer. So now buyers Iuve Lo
puL down u 1o percenL deposIL
hrsL und LIe resL cun be seLLIed
IuLer, U Kyuw HLuy LoId Myan-
mar Business Today.
TIe meusure wIII come InLo eI-
IecL uL LIe znd Myunmu Gems
Emporium, to be held next
yeur, und LIe unnouncemenL re-
gurdIng LIIs wIII be mude uL LIIs
years edition of the emporium,
wIIcI wIII be IeId Irom June
zq-JuIy 6, Ie udded.
ocuI und IoreIgn buyers wIII
Iuve Lo puL down 1o percenL oI
LIe vuIue oI purcIused ILems
us deposIL uL u Myunmu Gems
TrudIng Bunk uccounL. Jude
suIes ure seLLIed In IoreIgn cur-
rencIes sucI us Euro or US
doIIurs, so IoreIgn currency uc-
counLs wIII be opened Lo IucIII-
LuLe LIIs meusure, U Kyuw HLuy
suId.
He Ioped LIuL LIIs yeur`s em-
porIum wIII uLLrucL u IoL oI Ior-
eIgn buyers. A LoLuI oI ;,oo
jude IoLs wIII be sIowcused LIIs
yeur - z,1oo oI wIIcI ure Irom
LIe governmenL.
ocuI gems deuIer Ko TIeIn
Hun suId, TIe Ideu oI LukIng u
deposit is a good one, and its
uIso good Lo hx IL uL 1o percenL.
TIIs yeur`s sIow wIII uIIow
exIIbILIng hnIsIed jude prod-
ucLs Ior LIe hrsL LIme und Iow-
esL prIce Ior LIuL Ius been seL uL
C1,ooo ($1,6).
MInImum prIce Ior uncuL jude
Ior Lender sysLem Is Cq,ooo
($,q6o) und Ior uucLIon sys-
Lem Czoo,ooo ($z;,o6o).
usL yeur`s exIIbILIon IeLcIed
$z.q bIIIIon, u record suIe oI
gems und jude over LIe pusL Iew
yeurs. TIe suIe pIcked up Irom
LIe zo1z unnuuI evenL wIen
suIes pIunged Lo $;oz.66 mII-
IIon.
n zo1, ouL oI over 1o,ooo
jude IoLs, over oo gems IoLs
und over zoo peurI IoLs were
displayed for sale under open
Lender und compeLILIve bIddIng
sysLems, over 8,ooo jude IoLs,
over 1oo gem IoLs und uImosL uII
LIe peurI IoLs were soId. NeurIy
q,ooo IoreIgn gems mercIunLs
und more LIun q,ooo IocuIs
joIned.
Myanmar started to hold gem
sIows In 1q6q seIIIng gems un-
nuuIIy. SInce InLroducIng LIe
mId-yeur sIow In 1qqz und LIe
specIuI evenL In zooq, LIe gem
emporIum now Lukes pIuce
LIree LImes u yeur.
SInce 1qqz, prIvuLe compunIes
Iuve been uIIowed Lo work Ior
jade and gems mining and in
1qq Myunmur Gems uw wus
promuIguLed, uIIowIng IocuI cIL-
Izens Lo excuvuLe, produce und
seII gems. SInce 1qq;, IocuI cILI-
zens Iuve been uIIowed Lo buy
gems, resuILIng In un Increuse
In jude und gems suIes.
TIe IuLesL omcIuI hgures sIow
LIuL In zo11-1z, Myunmur yIeId-
ed q,18 Lonnes oI jude und
1.q8 mIIIIon curuLs oI gems
wIIcI IncIude ruby, suppIIre,
spIneI und perIdoL, us weII us
1,oq1 kIIogrums oI peurI.
.:._ ~~ ~ ~..._
_~.._.:~ _.,.:.~:~.~q~,:
.q:...~ _._~. _._...:.
.:.~.,_e ~ee._.~:~.~
..:~- ~~ q:..,.~ .q.~_e.
... ..: q.~: ._ _ e. ._ ~: .
.~ :~ . ~ . . , .q . :.~. ..
~~ ..q.. . ~ ..~: ._.~ Myanmar
Business Today . ._.:._.
_._~. _._.. ~ee._..:.
~.,_e ~ee._.~:~.~..:~
~,e.- ~~ q:..,.~ .q,.~_e.
_.,.:.~:~.~q~,:.q:.~e.q.
~~.~:. .....q.__e.~:
e.~.~.....~~ .:._ ~,
, q~. ~. ' q~.,~
~ .._.. . ..: ~ _~ . ._.:~ _., .:
.~:~.~q~,:.q:...~ .:
.q:~.~:...~ ~....._~_:
.:..__e.._~:. .q._.
R
e
u
t
e
r
s
June 12-18, 2014
Myanmar Business Today
mmbiztoday.com
LOCAL BIZ
5
Myanmar Summary
Contd. P 6...(Labor Market) Contd. P 6...(Labor Market)
The Qoest Ior Tulents: eveloping
Myunmur's Luboor Murket
M
osL compunIes In
Yungon nowu-
days realise a
key cIuIIenge Ior LIeIr
growLI: LuIenL cupucILy.
PeopIe LIuL Iuve com-
pIeLed u quuIILy educuLIon
ure u scurce resource und
LIose LIuL Iuve, oILen Iuck
the skills and personality
LruILs LIuL compunIes ure
IookIng Ior. WIuL mosL
execuLIves usuuIIy mIss Is
u proucLIve uLLILude und
the ability to solve prob-
Iems IndependenLIy.
Undoubtedly, these
problems are a result of
Myunmur educuLIon cuI-
Lure LIuL Is mosLIy Iocused
on LeucIIng meLIods LIuL
Klaus Oberbauer
Iocus on memorIsuLIon
and repetition, skills that
are hardly valuable or ap-
pIIcubIe In u z1sL cenLury
workIng envIronmenL.
CompeLILIons, IIke LIe
recenLIy IuuncIed My-
unmur deu Cunvus by
PS BusIness ScIooI deh-
nitely have the potential
Lo Iorm LuIenLs wILI LIe
right attitude and abili-
LIes. However, LIe Iuck
oI sponsorsIIp und cor-
porate endorsement for
this and similar initiatives
uIso sIows u IundumenLuI
probIem LIuL currenLIy
keeps Myanmar from de-
veloping a better skilled
workIorce: compunIes ure
noL wIIIIng Lo InvesL InLo
long-term strategies for
youLI deveIopmenL.
It seems like the fear of
creuLIng skIIIed empIoy-
ees Ior oLIer compunIes
oversIudows LIe vusL op-
portunities that lie in po-
sILIonIng u compuny us
LIe empIoyer oI cIoIce
among the most talented
sLudenLs In LIe counLry.
Muybe IL Is uIso LIe Iuck
oI u cerLuIn busIness en-
vIronmenL LIuL IeLs cor-
porations think rather
sIorL-Lerm, Iowever, LIe
ouLcome Is LIuL mosL My-
unmur gruduuLes cun`L
meeL LIe expecLuLIons oI
their potential employ-
ers, wIIcI Iuve Lo empIoy
people that are not really
able to help their business
Lo grow. New empIoyees
cerLuInIy joIn corporuLe
training programs, yet
busIc beIuvIours und uL-
LILudes sucI us cusLom-
er-orIenLuLIon, sLruLegIc
thinking and problem
solving take years to de-
veIop.
So wIuL cun be u wuy
out of this talent dilem-
mu? ookIng uL successIuI
educuLIon modeIs ubroud
und uL experIences LIuL
international employers
usually value, there seem
Lo be Lwo possIbIe soIu-
tions:
One wuy Lo go mIgIL
be u cIoser cooperuLIon
beLween educuLIon pro-
vIders und compunIes In
wIIcI corporuLIons ure un
InLegruI purL oI LIe cur-
rIcuIum, noL onIy u sup-
porLer.
Every successIuI busI-
ness scIooI Ius cIose re-
IuLIonsIIps wILI IndusLry
purLners wIo provIde
reuI-worId busIness cuses
for problem-based learn-
ing methods and supply
(puId) InLernsIIps. Com-
punIes receIve gruduuLes
wIo uIreudy know LIeIr
busIness cuILure und ure
vuIuubIe conLrIbuLors
Irom duy one.
The other option is to
purLner dIrecLIy wILI
organisers of youth de-
veIopmenL projecLs or
events, like the Myan-
mur deu CIuIIenge men-
tioned earlier or partner
dIrecLIy wILI youLI-Ied
und busIness Iocused or-
gunIsuLIons.
ConsIderIng LIe currenL
prohIe oI unIversILIes In
Myunmur, LIe hrsL opLIon
seems to require a rather
bIg sIIIL In upproucIes Lo
and mindsets about edu-
cuLIon. CurrIcuIu oI IocuI
universities are rather in-
exIbIe und hndIng pro-
Iessors wIo ure wIIIIng
Lo Lry ouL new LIIngs Is
dIm cuIL. UnIversILIes LIuL
oer dIsLunce degrees
Irom ubroud wIII need Lo
convInce LIeIr purLner-
ship institutions to enter

The lack of sponsorship and

corporate endorsement
shows a fundamental prob-
lem that currently keeps
Myanmar from developing a better
skilled workforce: companies are
not willing to invest into long-term
strategies for youth development.
q, ~ , .:q ~ ~ . ~ ~.:..
e: .~q.,e~~~ ...
..:q_,.~.~_.. .,..'
. q .,.|~e .~q_ ~. ._._ ~
~ ._:~~ . ~:q :..|.~ ~q .
~_.. ~. . _e. .,.|_. . ~ . ~
~.:..~ ~,...~q ~..
~.. .. :q .~ ..:_~_
.,q.|_. .~ . ~ ~:~, q . ~.:..
~ ~,...~~ ~q_~..
_._ ~~ _..,:.~ ~ ~. .~
. : ~ e ~ ._ eq .. .e .
.,_~.|~e.
._..,:.~~ _.,.:._:
.q.q ~.~~~.,.._~:
. ~:e . :..q:.q .| ..~q:.
~. . ..:.~, .~ . : ~ . .
~..~: ~~e~e.._e~
.~~q:_e..,.|_.. e_..
. ~: _., .:. . ..~ q ~.~ .
~..'~ ._~:.~. .~
.q:~q.:~:.|. ...:..q..
.~ .~ ._ .~ : .~. . ~
. . ...: q_ .~ ~.~ .~..'
Myanmars skilled human resources problem undoubtedly is a result of its education culture that mostly
focuses on teaching methods that involve memorisation and repetition, skills that are hardly valuable or
appIicabIe in a 21st century working environment.
G
e
o
f
f
r
e
y

H
ille
r
June 12-18, 2014
Myanmar Business Today
mmbiztoday.com
LOCAL BIZ
6
From page ,...(Labor Market) From page ,...(Labor Market)
Myanmar Summary
InLo new purLnersIIps
that might not be possible
uccordIng Lo LIeIr InLer-
nuI reguIuLIons. AII LIIngs
consIdered, LryIng Lo es-
LubIIsI dIrecL cooperuLIon
beLween compunIes und
educuLIon provIders wIII
IIkeIy requIre deuIIng wILI
IengLIy bureuucruLIc pro-
cesses.
What about the alter -
nati ve?
WorkIng wILI dynumIc
youth groups seems to be
u IusLer wuy oI esLubIIsI-
ing partnerships and a
pool of skilled employees
LIuL ure deveIoped wILI
LIe conLrIbuLIon und uc-
cordIng Lo LIe needs oI
compunIes. WIIIe seLLIng
cooperuLIon wILI unIver-
sILIes cun`L promIse u con-
stant adaptation to the
cIungIng requIremenLs
oI LIe busIness worId,
youth organisations are
evoIvIng uL LIe sume puce,
or In some cuses even
IusLer, LIun LIe corporuLe
envIronmenL. TIereIore
these kinds of partner-
ships appear to be more
promIsIng In hndIng LIe
empIoyees compunIes ure
currenLIy IookIng Ior.
Student-led groups that
ure IocusIng on prepurIng
young people for business
mIgIL sLIII be Iurd Lo hnd
In Myunmur, Iowever,
they are existing and op-
eruLIng.
One example is Myan-
mar Youth Entrepreneur-
IuI SocIeLy (MYES) wIIcI
uIms Lo creuLe InLerucLIon
beLween Myunmur YouLI
and Entrepreneurs and
cooperuLe wILI IIke-mInd-
ed compunIes. SImIIur Lo
enLrepreneurIuI socIeLIes
in universities and busi-
ness scIooIs ucross LIe
United Kingdom, MYES
is a pioneer in linking the
interests of students and
busInesses. EmpIoyers
wIII hnd young members
wIo Luke un ucLIve roIe
In LIe economIc deveIop-
menL oI LIeIr counLry und
In IInkIng LIeory Lo pruc-
LIce.
AnoLIer exumpIe Is
AESEC, LIe worId`s Iurg-
est student organization
LIuL recenLIy esLubIIsIed
u Myunmur omce. Coop-
eruLIng wILI LIem wIII
be especIuIIy InLeresLIng
Ior compunIes LIuL vuIue
empIoyees wILI u wIde In-
LernuLIonuI neLwork, us IL
oers opporLunILIes Lo geL
InLernuLIonuI workIng ex-
perIence und purLIcIpuLe
in an international net-
work oI 1z counLrIes.
TIe muIn Iocus oI
AESEC Is IeudersIIp und
management skills de-
veIopmenL. Members geL
Iunds-on Leum workIng
experIence und LypIcuIIy
reucI nuLIonuI und InLer-
national management po-
sitions in the organisation
wILIIn us Iess us -q yeurs.
In addition, young peo-
pIe LIuL joIn AESEC cun
sLund ouL by compIeLIng u
workIng or voIunLeerIng
ussIgnmenL ubroud.
WILI ILs youLI deveI-
opmenL ucLIvILIes und
modeIs, AESEC Ius suc-
cessIuI purLnersIIps wILI
gIobuI compunIes IIke
UnIIever, PrIcewuLer-
IouseCoopers, DH, MI-
crosoIL, TuLu ConsuILuncy
ServIces und muny oLIers.
ApurL Irom cooperuLIon
on gIobuI IeveI, AESEC
Ius uIwuys been very suc-
cessIuI In creuLIng ben-
ehcIuI reIuLIons wILI Io-
cuI enLerprIses, especIuIIy
wILI SMEs. EspecIuIIy
In LIe cuse oI Myunmur,
purLnerIng wILI AESEC
cun brIng soIuLIons Ior
mosL HR probIems LIuL
compunIes ure IucIng
by providing employer
brundIng und uccess Lo
highly-talented young
peopIe. CompunIes InLer-
ested in employing inter-
nuLIonuIs, cun uIso cIoose
from a big pool of inter-
national entry-level em-
pIoyees wILI dIverse skIIIs
und buckgrounds.
The development of the
Myanmar labour market
wIII see bIg cIunges In LIe
comIng yeurs. L wIII be
very InLeresLIng Lo wuLcI
Iow IocuI und InLernu-
LIonuI compunIes reucL
Lo currenL und IuLure HR
cIuIIenges und Iow LIey
prepare young people for
LIe workIng IIIe oI Lomor-
row.
Klaus Oberbauer is
the country director of
AIESEC in Myanmar. He
has four years of work-
ing experience in frontier
markets and relocated to
Yangon in late 2013. He
can be reached at Klaus.
oberbauer@aiesec.net.

The other option is to

partner directly with
organisers of youth
development projects
or events, or
partner directly with youth-
led and business
focused organisations.
AB to Give $m to evelop Renewuble Inergy in Myunmur
T
Ie AsIun DeveIopmenL
Bunk (ADB) wIII brIng
power Lo z o-grId vII-
Iuges oI Myunmur, LIrougI u $z
mIIIIon grunL projecL Lo expund
LIe use oI renewubIe energy In
LIe counLry.
The Manila-based lender said
LIe LecInIcuI ussIsLunce, h-
nunced by LIe Jupun und Ior
PoverLy ReducLIon Iunded by
LIe Jupunese governmenL, wIII
uIso IeIp deveIop uccess und
InvesLmenL pIuns Ior renewubIe
energy and strengthen govern-
ment institutions in the design
oI smuII-scuIe renewubIe energy
sysLems.
Myunmur`s per cupILu eIec-
LrIcILy consumpLIon oI onIy
1qo kIIowuLL-Iours Is LIe Iow-
esL umong LIe 1o AssocIuLIon oI
SouLIeusL AsIun NuLIons mem-
bers. TIIs Is due Lo Iow IeveIs oI
eIecLrIhcuLIon, IndusLrIuI deveI-
opmenL, und InvesLmenL, ADB
suId.
uck oI uccess Lo power Is Im-
pedIng economIc deveIopmenL
Aung Phyo und ucIIevemenL oI LIe MII-
IennIum DeveIopmenL GouIs
In Myunmur, suId projecL Ieud
Prudeep TIurukun, un ADB
SenIor CIImuLe CIunge SpecIuI-
IsL.
TIIs projecL wIII IeIp demon-
strate Myanmars potential in
renewubIe energy wIIIe brIng-
Ing power Lo qoo,ooo Iouse-
IoIds und servIces sucI us
scIooIs by zozz.
ocusIng on LIe cenLruI dry
zone - MunduIuy, SuguIng, und
Mugwuy regIons - und coverIng
CIIn, KuyuI, und RukIIne sLuLes,
LIe projecL wIII InsLuII pIIoLs, und
develop investment plans and
poIIcIes Ior renewubIe energy ex-
punsIon In LIese ureus.
TIe LIree-yeur projecL, due
Ior compIeLIon In June zo1;,
wIII Ieud Lo LIe InsLuIIuLIon oI
1o MW oI new, smuII-scuIe re-
newubIe energy InsLuIIuLIons by
zozz, mosLIy usIng soIur und
bIomuss-bused sysLems.
TIe LoLuI projecL cosL Is ubouL
$z.z mIIIIon, oI wIIcI LIe gov-
ernmenL wIII provIde $zoo,ooo
In LIe Iorm oI IogIsLIcs, omce,
sLumng, umong oLIers, und oLI-
er counLerpurL supporL.
Myunmur`s renewubIe en-
ergy sources IncIude soIur, Iy-
dropower, bIomuss, und wInd
power. BurrIers Lo deveIop-
menL oI renewubIe energy In
LIe counLry IncIude Iuck oI un
institutional and legal frame-
work Lo guIde LIe work, IImILed
hnunces, sIorLuges oI LruIned
personneI, und subsIdIzed prIc-
es Ior power, wIIcI muke IL dII-
hcuIL Ior renewubIe energy Lo be
compeLILIve.
CompIemenLIng un ADB pow-
er dIsLrIbuLIon projecL upproved
IusL yeur, LIe LecInIcuI ussIs-
Lunce wIII buIId experLIse wILIIn
LIe MInIsLry oI IvesLock, IsI-
eries and Rural Development
und oLIer ugencIes Lo desIgn
o-grId renewubIe energy-
bused projecLs, LIe Iender suId.
~:qe_e..q.~._ _.,.:.
q .......qq..:.~.q:q:~
. . .. . .qq q, ~..q ~, ..'.:
. . ., .~, e .q . . ~ , .~. . ~:. ..:
q~.:.._e .q._.
~. .|~. ~. ~:. ., . .
. .q . .~. ..: ..q.q, . . ~.
~.. ~_......_.._e._.. ,_.
._:.q:~_..:.~ .,.:~._.
.~~.~~... ~_.......:.._
e .q._. _.,.:.._ ~.q
.~:~:q.e.~ .....:~
~:.~. ._.. . ~,_ .. .. ~. .
_e.._. e.~. .....:~~:.
qq..,_..|._..._~: ...:..q.
e_e.~.~~q, ~.~~._e...._
e ADB-~_~ .~, .q:. ~ ._.: ..
. . q:~. .~ . Pradeep Tharakan
~._.:. ._ .e. . . ~ , .._ _., ._
_.__e._....~~_._~~~....
.q.. . ~ , .~, .~. ~._e._...:
._ ~ . . . ~.~:..:.~.|
~~ ~..:..... , .~:... ..
....... q, q_ qe:.._.
The Asian Development Bank's three-year project will lead to the installation of
1U MW of new, smaII-scaIe renewabIe energy instaIIations by 2U22, mostIy using
solar and biomass-based systems.
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June 12-18, 2014
Myanmar Business Today
mmbiztoday.com
7
June 12-18, 2014
Myanmar Business Today
mmbiztoday.com
Myanmar Summary
Myanmar Summary
LOCAL BIZ
8
Myanmar Summary
Myanmar Summary
Myunmur Aqouriom
Constroction to Sturt in Jone
T
Ie consLrucLIon oI LIe
Myunmur AquurIum wIII
sLurL uL KunduwgyI Gur-
den in Yangon later this month,
uuLIorILIes suId.
TIe Myunmur AquurIum,
u zo,ooo squure meLre Lour-
ist development set against
KunduwgyI uke In Yungon, wIII
sIowcuse q specIes oI IocuI
IresI wuLer und suIL wuLer hsI.
The design of the main build-
Wai Linn Kyaw
NHK Signs Rudio euls with Myunmur, Others
J
upunese pubIIc broudcusLer NHK Ius expunded ILs WorId
RudIo coveruge by sIgnIng re-LrunsmIssIon deuIs wILI neL-
works In Myunmur, BIuLun und MexIco.
NHK suys LIe exLensIon oI ILs reucI IurLIer expunds ILs IIsLen-
ersIIp und IosLers muLuuI undersLundIng.
TIe deuIs wILI MRTV-Myunmur, BIuLun BroudcusLIng ServIce
und RudIo CE-MexIco brIngs Lo 18 LIe number oI Iunguuges
broudcusL by WorId RudIo Jupun, NHK`s InLernuLIonuI rudIo
servIce.
A spokesperson suys: |We| oer news und progrums ucross
LIe gIobe on sIorLwuve, medIum wuve, M und suLeIIILe rudIo
LrunsmIssIons severuI LImes u duy Lo regIons uround LIe worId
und uIso provIde progrums Iree-oI-cIurge Lo IoreIgn broudcusL-
ers, so LIuL more peopIe cun enjoy news Irom Jupun und ILs cuI-
Lure.
In Myanmar, some of their programs in Burmese and English
ure broudcusL In sIorLwuve, medIum wuve und M sLuLIons In
mujor cILIes ucross LIe counLry.
n BIuLun, Eusy Jupunese, u progrum In EngIIsI, Is uIred
LIrougI z; M sLuLIons ucross LIe nuLIon. NHK suy LIuL uILIougI
LIey do noL oer broudcusLs In DzongkIu, LIe om cIuI Iunguuge
oI BIuLun, LIey Iope LIuL broudcusLs In EngIIsI, wIdeIy used In
BIuLun, wIII conLrIbuLe Lo IurLIer expunsIon oI excIunges.
Kyaw Min
Ing oI LIe uquurIum und Under
WuLer WorId wIII be provIded
by Singapore-based Surbana
ConsuILunLs PLe Ld, wILI SPM
ConsuILunLs PLe Ld responsIbIe
Ior LIe consLrucLIon munuge-
menL.
usL OcLober, Myunmur
AquurIums Co Ld won LIe
tender from the Department of
Fisheries to build the Myanmar
AquurIum projecL.
TIe uquurIum Is expecLed Lo
open In December zo1.
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.,,._.._~:. NHK ._ ,.~ -. . , ..:.~ . ._ ~.,_e
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,:..:..:. .,.- e.~.. . .~.~.~~.~.:.~...
q.q,q_qe._e .q._.
Only 1.pc Gets LiIe
Insorunce Coveruge
A
bouL ;oo,ooo ouL oI
Myanmars estimated
6o mIIIIon popuIuLIon
Iuve u IIIe Insurunce, sLuLe-run
Insurer Myunmu nsurunce En-
LerprIse (ME) duLu sIows.
TIe pubIIc Iuve very IILLIe
InLeresL In Insurunce und LIere
Is u Iuge knowIedge gup, so LIe
numbers ure very IILLIe, ME
munugIng dIrecLor U Aye MIn
Thein told Myanmar Business
Today.
Mostly sailors and overseas
workers opL Lo geL IIIe Insur-
unce coveruge, wIIIe peopIe
empIoyed IocuIIy seIdom geL In-
sured.
No one knows wIen uccI-
denLs wIII Iuppen, so everybody
sIouId geL IIIe Insurunces, espe-
cIuIIy workers, Ko Myo Aung,
wIo supervIses u consLrucLIon
sILe, suId.
SeveruI cuLegorIes oI IIIe In-
surunce exIsL In Myunmur rung-
ing from employee life insur-
unce und murIne IIIe Insurunce
Lo even snuke-bILe Insurunce.
TIere`s uIso IIgIwuy LruveI In-
Htun Htun Minn
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.~: ~:.. . . , .~_._ ..~.~~.:..,_..,...~e''e _., .: ~:.. . .
,.. ...: , _~:..q... ..~....,.~ Myanmar Business Today .
._.:._.
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,_.._~:. .q._.
Myunmur, Sooth Koreu Sign
Investment Protection Puct
F
oreIgn MInIsLer U Wun-
nu Muung wIn und IIs
SouLI Koreun counLerpurL
Yun Byung-se inked a bilateral
investment promotion and pro-
LecLIon ugreemenL In Nuy PyI
Tuw IusL week, LIe sLuLe-run
New IgIL oI Myunmur reporL-
ed wILIouL gIvIng uny IurLIer
InIormuLIon.
AccordIng Lo om cIuI sLuLIsLIcs,
South Korean investment in
Myunmur umounLed Lo $.o
bIIIIon In 86 projecLs us oI Junu-
ury, uccounLIng Ior 6.; percenL
oI LIe LoLuI IoreIgn InvesLmenL.
L sLunds sIxLI on LIe IIsL oI z8
IoreIgn InvesLor counLrIes In
Myunmur uL presenL, uccordIng
Lo om cIuI duLu.
During Yuns visit in Myan-
mar, President U Thein Sein
and Speaker of the Parliament
und LIe ower House U SIwe
Mann also met the S Korean
IoreIgn mInIsLer sepuruLeIy.
TIey dIscussed ubouL promo-
LIon oI reIuLIons beLween LIe
Lwo counLrIes, Lrude und InvesL-
menL und LecInIcuI und mon-
eLury ussIsLunce Ior LIe deveI-
Phyo Thu opmenL oI Myunmur IncIudIng
ugrIcuILuruI und ruruI deveIop-
menL secLors, uccordIng Lo om -
cIuI medIu.
BIIuLeruI Lrude beLween Myun-
mur und SouLI Koreu reucIed
$1.;6 bIIIIon In zo1, oI wIIcI
Myanmars export to South
Koreu uccounLed Ior $q.q
mIIIIon wIIIe ILs ImporL Irom
LIe EusL AsIun counLry sLood uL
$1.z1 bIIIIon.
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surunces wILI premIums oI onIy
K1oo-oo, Ior wIIcI K mIIIIon
($,ooo) cun be cIuImed In cuse
oI deuLI.
June 12-18, 2014
Myanmar Business Today
mmbiztoday.com
LOCAL BIZ
9
Myanmar Summary
Myanmar Summary
Myunmur Toorism Iederution to
Istublish Toorism Bunk
Htun Htun Minn
T
he Myanmar Tourism Fed-
eruLIon (MT) Ius uppIIed
Lo LIe MInIsLry oI Inunce
to establish a tourism bank in a
bid to develop Myanmars bur-
geonIng LourIsm secLor, un MT
om cIuI suId.
Even LIougI LourIsm beIongs
Lo LIe servIce IndusLry IL sLIII
needs hnuncIuI ussIsLunce IncIud-
Ing Iouns IIke oLIer IndusLrIes, U
Nuung Nuung Hun, generuI sec-
retary of MTF, told Myanmar
Business Today.
TourIsm busInesses cun be
seen as small and medium enter-
prIses. TIere ure bunks Ior IIve-
sLock, ugrIcuILure buL no hnuncIuI
InsLILuLIon Ior LIe |LourIsm| sec-
Lor. So, we uIm Lo deveIop u bunk
Ior LourIsm, Ie udded.
Dr Aung MyuL Kyuw, cIuIrmun
oI LIe IederuLIon, suId, TourIsm
busIness Is un exLensIve secLor,
its not only about foreign tour-
IsLs. TIere ure u IoL oI LourIsm-
related businesses that need to
be deveIoped.
WILI Myunmur`s openIng up
In-counLry LourIsm Ius uIso
boomed uIong wILI LIe surge In
foreign tourist arrivals and the
federation said it gradually aims
Lo Iocus more on IocuI LruveIIers.
MT suId once LIe mInIsLry
grants the permit for the bank it
wIII sLurL gIvIng hnuncIuI ussIs-
Lunce Lo Improve IoLeI und guesL-
house businesses, transportation
und oLIer secLors LIuL ure reIuLed
Lo LIe LourIsm secLor.
Myanmars tourism master
pIun Ior zo1q-zozo, wIIcI wus
drafted jointly by the Ministry
oI HoLeI und TourIsm und Lour-
ism organisations, suggests the
mInIsLry und cIvII socIeLy provIde
ussIsLunce Ior LIe deveIopmenL oI
LIe LourIsm IndusLry.
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. . ,.._. ~ ~e .:._e _._ .
~._._..q .. :.. . , .. . e _e .~ .~~
.:q, .._.._e.._~:. .q._.
Serbiu to Ixpund Iconomic
Ties With Myunmur
Wai Linn Kyaw
S
erbIu Is Lo expund economIc LIes wILI Myunmur by
IurLIer InvesLIng In LIe counLry`s eIecLrIc power, ruII
LrunsporLuLIon und InIrusLrucLure projecLs, u SerbIun
dIpIomuL suId.
SerbIun Ambussudor MIodrug NIkoIIn LoId LIe New
IgIL oI Myunmur LIuL LIese projecLs ure mosLIy con-
ducLed by or LIrougI LIe SerbIun nvesL-mporL Compuny
wIIcI Ius been presenL In Myunmur Ior more LIun IuII u
cenLury.
NIkoIIn vowed Lo conLInue Lo deveIop und expund eco-
nomIc cooperuLIon beLween LIe Lwo counLrIes.
n ebruury zo1, SerbIun oreIgn AuIrs MInIsLer vun
MrkIc vIsILed Nuy PyI Tuw und meL wILI PresIdenL U TIeIn
SeIn, dIscussIng on cooperuLIon In educuLIon, cuILure, und
InvesLmenL In energy, IoresL, rubber und Iood producLIon.
.:.-.e:..._ _.,.:.~ q..._.....:..._...
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...q...,..:.~q..._...q,...,._~:. .:.- .e:..
~.~ _~ .~ ._.:. ._ .
.:.- .e:.. ~.~ _~ . Miodrag Nikolin ~ .:.- .e:.. ._
_., .:. ~ q .. ._. . . . .:._.. . q, . . . ~ ~ .:..,._ e ._.:
. _. . . . . ~_~:. . .. :..q.. q:. ...| ...: q ~ . .:. . . ~ ._.
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._:.q.. e .~.. . q:~_ .:.. ...| ...: q ~ .q. . . . .
~ .. .~: q::. .:...:~ ~ , ~ . . .q.. . , ..:.~
q .. ._. . . q, .. ... .. ._~: . . q._ .
Tourists at the Visa on Arrival section at Yangon International Airport.
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June 12-18, 2014
Myanmar Business Today
mmbiztoday.com
LOCAL BIZ
10
Myanmar Summary
Reulising the 'Myunmur reum'
Aung Ko Win
A
ILer LIe second worId wur,
muny AsIun counLrIes
had to undergo a series
oI nuLIon-buIIdIng exercIses. AI-
mosL uII oI LIem were Lorn upurL
by wur: buIIdIngs desLroyed
und IIves exLInguIsIed. L Look
sLrengLI, couruge und creuLIvILy
to restore these nations to their
former glory and, most impor-
tantly, rebuild them better than
LIey were beIore. CILIzens cume
LogeLIer Ior u common cuuse, Lo
once uguIn Iuve u pIuce Lo cuII
Iome.
AILer yeurs oI IsoIuLIon, Myun-
mur Ius re-enguged wILI LIe In-
LernuLIonuI communILy. A new cI-
vIIIun governmenL cume Lo power
und quIckIy roIIed ouL u serIes oI
reIorms. nLernuLIonuI commu-
nILIes Iuve Luken un ucLIve roIe In
rebuIIdIng Myunmur. Iuve uIso
seen armies of expats returning
to Myanmar, eager to restore
LIeIr counLry Lo greuLness.
reuIIy beIIeve Myunmur cun
become u nuLIon Lo be reckoned
wILI. or u brIeI momenL uILer IL
cIuImed Independence Irom LIe
BrILIsI In 1qq;, IL wus u modern
nuLIon In SouLIeusL AsIu. L Iud
the best universities, airports and
cILIes. TIrougI u serIes oI mIs-
IorLunes, Iowever, IL becume one
of the least developed nations in
LIe worId. RecenL deveIopmenLs
Iuve gIven me Iope LIuL we cun
realise our Myanmar Dream,
wIIcI IncIudes IncIusIvILy, Iur-
mony and freedom for all Myan-
mur peopIe.
Myanmar nationals should be
ubIe Lo benehL Irom LIIs LrunsIor-
muLIon und deveIopmenL; IncIu-
siveness is an essential element
oI my Myunmur Dreum. We need
Lo ensure everyone Ius uccess Lo
busIc hnuncIuI servIces, Ior exum-
pIe. We wIII buIId u nuLIon wIere
people are united together as the
people of Myanmar, regardless
oI LIeIr eLInIcILIes. We ure one
peopIe under one nuLIon; unILed
regardless of our religion, eth-
nIcILy und gender. We wIII need
Lo ensure LIuL we puL usIde our
sIIgIL dIerences und rebuIId our
nuLIon In u Iorm oI uLopIu LIuL we
Iuve Iong dreumed oI.
I believe there is a need for har-
mony In deveIopIng our counLry.
We sIouId serIousIy consIder noL
destroying our national herit-
uge und nuLuruI resources. We
musL Ieuve u IusLIng Iegucy Ior
our cIIIdren und grundcIIIdren.
We musL Ieurn Lo buIId our Iu-
Lure wILIouL desLroyIng our pusL.
Myunmur Is bIessed wILI un
ubundunce oI nuLuruI resources,
buL we musL proLecL LIe envIron-
ment for the sake of future gen-
eruLIons. DeveIopIng u proper
nuLIon-buIIdIng sLruLegy, wIIcI
sLrIkes u buIunce beLween mod-
ernising and preserving our her-
ILuge, wIII be LougI, buL beIIeve
we cun ucIIeve IL.
MosL ImporLunLIy, beIIeve we
musL be Iree Lo cIurL our own
desLIny. TIe peopIe oI Myunmur
should have the right to deter-
mIne wIuL Is besL Ior LIem. Peo-
pIe sIouId be uIIowed Lo IoIIow
LIeIr dreums no muLLer Iow pre-
posLerous LIey seem Lo oLIers.
AII oI us dreum oI sume LIIng:
LIe Ireedom Lo pursue our own
IuppIness. TIere Is no dIerence
beLween u IILLIe boy wIo grew up
in the hilly regions of Upper My-
unmur und u IILLIe gIrI wIo grew
up u rIcI neIgIbourIood In Yun-
gon CILy. beIIeve we cun creuLe
a nation that provides equal op-
porLunILIes Ior everyone.
In order to realise our Myan-
mur Dreum, we musL Iocus on
LIree LIIngs: cupucILy buIIdIng,
IoreIgn dIrecL InvesLmenL und nu-
LIonuI reconcIIIuLIons. We need
Lo Improve educuLIon so LIuL we
wIII Iuve cupubIe peopIe Lo Ieud
our nuLIon. n Lerms oI LecInIcuI
experLIse, we need Lo Improve In
uII secLors. MosL ImporLunLIy, we
need to install a strong sense of
puLrIoLIsm und nuLIonuIIsm. TIe
mosL ImporLunL usseL u counLry
cun counL on Is ILs peopIe; we
need Lo equIp LIem wILI LIe rIgIL
skIII seLs und uLLILude.
NexL, we need IoreIgn dIrecL
InvesLmenL (D). Myunmur
needs to put together a strat-
egy Lo muke sure we encouruge
socIuIIy responsIbIe InvesLors
wIose ucLIvILIes ure benehcIuI Lo
our peopIe. D needs Lo IeIp us
develop sustainably, building our
cupucILy wIIIe preservIng our en-
vIronmenL. OnIy LIen wIII we be
mukIng Myunmur u beLLer pIuce
Ior IuLure generuLIons.
MosL ImporLunLIy, nuLIonuI rec-
oncIIIuLIon musL Luke pIuce. n
order Lo move Iorwurd, we musL
come LogeLIer und puL usIde our
dIerences, no muLLer wIuL LIey
ure. sLrongIy beIIeve we wIII
Iuve reuI und IusLIng peuce In
Myunmur very sIorLIy.
oIIowIng LIe recenL posILIve
deveIopmenLs In Myunmur, we
need to maintain our momen-
tum in order to realise our Myan-
mur Dreum. TIe sLurs Iuve been
mucI uIIgned IuLeIy: LIe new
cIvIIIun governmenL Ius Luken
over, the opposition party is run-
nIng Ior eIecLIons, und our eLInIc
Ieuders ure LukIng purL In dIscus-
sIons Ior peuce.
I hope that everyone around
LIe worId wIII Luke u momenL
Lo pruy Ior Myunmur so LIuL we
mIgIL ucIIeve prosperILy, us oLI-
er counLrIes Iuve.
The author is Chairman of
Kanbawza Bank Limited. This
piece was especially written
for the World Economic Forum
which was held in Manila last
month.
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I believe there is a need for har-

mony in developing our country.
We should seriously consider
not destroying our national her-
itage and natural resources. We must
leave a lasting legacy for our children
and grandchildren.
Myanmar nationaIs shouId be abIe to benet from this transformation and deveIopment; incIusiveness is an essentiaI eIement
of the Myanmar Dream.
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June 12-18, 2014
Myanmar Business Today
mmbiztoday.com
11
Myanmar Summary
LOCAL BIZ
III Project to Muximise Timber Benets
Ior Commonities
Investors will be able to avoid legal limbo, organisation says
U
K-based Fauna & Flora
nLernuLIonuI () Ius
IuuncIed u projecL In
a bid to enable timber trading
communILIes In Myunmur Lo
reup LIe economIc benehLs ouL
oI new LImber ruIes, LIe nuLure
conservuLIon group suId.
n Myunmur, neurIy 1zo,ooo
ucres oI IoresL ure now mun-
uged by ;q communILy groups
wILI o-yeur IIcences under u
governmenL progrum LIuL wus
Phyo Thu IuuncIed In 1qq.
However, LIere Is sIgnIhcunL
scope Lo Improve LIe com-
mercIuI possIbIIILIes Ior LIese
communILy IoresLs, LIereby
benehLLIng communILIes und
encourugIng expunsIon,
suId.
TIe projecL wIII IeIp cIurIIy
the rights and responsibilities
oI communILy IoresL munugers
wIo wunL Lo seII LIeIr producLs
IeguIIy, IL udded.
TIe new projecL mproved
eguIILy, Governunce und Trude
Ior CommunILy und SmuIIIoId-
er TImber In Myunmur, wIIcI
Is u joInL cooperuLIon beLween
FFI and the Myanmar Forest
Department, also takes ad-
vunLuge oI new EU IegIsIuLIon
banning the import of illegally-
sourced LImber or LImber prod-
ucLs InLo Europe.
A supporL progrum, known us
EGT (oresL uw EnIorce-
menL, Governunce und Trude),
IeIps counLrIes reIorm LIeIr
IoresL secLor Lo uIIow buyers
und consumers Lo know LIuL
LImber wus IurvesLed IeguIIy.
TIIs provIdes u compeLILIve
udvunLuge Ior communILy-pro-
duced LImber, wIIcI wILI mod-
esL cIunges Lo exIsLIng reguIu-
LIons couId be produced und
Lruded enLIreIy wILIIn LIe Iuw,
suId.
TIe orIgInuI communILy Ior-
esLry progrum wus uImed uL
meeLIng IocuI needs, mosLIy Ior
hrewood und poIes. BuL wILI LIe
new governmenL`s Increused Io-
cus on ImprovIng economIc op-
porLunILIes, und LIe AprII zo1q
log export ban that promises
Lo gIve u boosL Lo LIe domesLIc
timber industry, FFI said the
LIme Is rIgIL Lo revIew LIe regu-
IuLIons governIng communILy
LImber.
mproved und cIurIhed IeguI-
ity standards for Myanmar tim-
ber wIII uIso IeIp combuL IIIeguI
logging by supporting a legal
LImber suppIy LIuL IocuI peopIe
cun geL InvoIved In, LIe group
suId.
As Myunmur`s reIormIsL gov-
ernmenL Iooks Lo Improve eco-
nomIc prospecLs Ior ruruI ureus,
LIe projecL wIII IeIp ensure new
timber rules bring maximum
benehL Lo IocuI communILIes,
suId.
TIe InILIuI projecL worksIop
IuuncIed u desk sLudy on LIe
subjecL und goL InpuL Irom Ior-
esLry experLs. TIIs wIII be IoI-
Iowed by heId reseurcI In Iour
sLuLes und regIons, wILI InpuL
Irom oresL DepurLmenL om-
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., .., (FFI) ~e _~.._ _ ., .:.
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.,:~ . .~ _._ ~ ... . . , .
.:.~.,_e ..~..:_..,.
.:. ....:q:~ ~.~~..:.
_~.~.,q_..._~:_e.._.
cIuIs, suw mIII owners, IurnILure
munuIucLurers und LImber Lrud-
ers, us weII us communILy IoresL
munugers LIemseIves.
TIe resuILs wIII InIorm LIe
development of national poli-
cIes, reguIuLIons und sLundurds
Ior communILy IoresLry LImber
IeguIILy us weII us u possIbIe
IuLure EGT ugreemenL be-
Lween Myunmur und LIe Euro-
peun UnIon.
LS to Open Ioreign Trude Service Brunch in Yungon
T
Ie UnILed SLuLes wIII
open a foreign trade ser-
vIce bruncI In Yungon In
u bId Lo boosL Lrude LIes wILI LIe
SouLIeusL AsIun nuLIon.
L wus decIded wIen PresIdenL
U TIeIn SeIn meL wILI vIsILIng
US Commerce SecreLury Penny
PrILzker In Nuy PyI Tuw IusL week.
TIe puIr uIso Iud dIscussIons
on Increused dIrecL InvesLmenL
by US compunIes, cooperuLIon
In energy und muLuuI cooperu-
LIon In ugrIcuILure secLor.
usL week, u busIness IuncI-
eon wus IosLed by US-ASEAN
EconomIc CouncII In LIe My-
unmur cupILuI, uLLended by VIce
PresIdenL U Nyun Tun und US
Ambussudor Derek MILcIeII us
weII us governmenL omcIuIs und
busIness Ieuders.
A wIde runge oI secLors sucI
us LrunsporL, power generuLIon,
gas exploration, banking and
Insurunce, IoreIgn InvesLmenL,
dispute settlement, potential
cooperuLIon In economIc deveI-
opmenL, unLI-corrupLIon, Lruns-
purency, euse oI doIng busIness
und IormuIuLIon oI compeLILIon
Iuw wus dIscussed In LIe busI-
ness IuncIeon.
PrILzker, wIo urrIved Nuy PyI
Tuw on u Lwo-duy vIsIL Lo Myun-
mur, uIso meL wILI Speuker oI
LIe PurIIumenL und LIe ower
House U SIwe Munn und op-
posILIon CIuIrperson Aung Sun
Suu KyI.
AccordIng Lo omcIuI sLuLIsLIcs,
US investment in Myanmar
umounLed Lo $zq. mIIIIon us
oI Junuury zo1q, mukIng IL 1
th
in Myanmars foreign investor
IIne-up.
Myanmar-US bilateral trade
In zo1 sLood uL $1;. mII-
IIon wILI Myunmur`s exporLs
to the United States amounting
Lo $18.18 mIIIIon und ImporLs
$11q.z mIIIIon.
Myanmar Summary
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~e.q.~,_~. Penny Pritzker ._
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From page ...(Fisheries)
Improved and cIaried IegaIity standards for Myanmar timber wiII heIp combat iIIegaI Iogging by supporting a IegaI timber
supply that local people can get involved in, a nature conservation group said.
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June 12-18, 2014
Myanmar Business Today
mmbiztoday.com
LOCAL BIZ
12
Myanmar Summary
Imerging Opportonities in The Lust Irontier
As it re-enters the international community after decades in isolation, Myanmar is a country that is ripe with possibilities for Australian law
frms and businesses, writes Melinda Tun
I
recenLIy IucIIILuLed u deIegu-
tion of representatives from
mujor AusLruIIun compunIes
WoodsIde Energy, McConneII
DoweII und Aurecon Lo Myun-
mur.
We LruveIIed Lo LIe coun-
Lry`s Iormer cupILuI, Yungon, us
purL oI LIe AusLruIIu-Myunmur
CIumber oI Commerce`s ndus-
Lry SkIIIs Progrum Lo sIure Aus-
LruIIun IndusLry besL prucLIces
In porL und murIne InIrusLruc-
Lure projecLs wILI Myunmur
ucudemIcs, proIessIonuIs und
IndusLry bodIes.
WIuL wus mosL encourugIng
ubouL our vIsIL wus seeIng Aus-
tralian professionals not only
sIurIng LIeIr experIence und
experLIse wILI LIeIr Myunmur
counLerpurLs, buL uIso buIIdIng
relationships and friendships
us u IounduLIon Ior mucI cIoser
LIes beLween LIe Lwo counLrIes
In LIe IuLure. As someone wIo
wus born In Myunmur und now
IIves In AusLruIIu - moved Lo
Sydney wIen wus 1z - LIIs Is
someLIIng very mucI Iook Ior-
wurd Lo.
Myanmar is an emerging mar-
keL In every sense oI LIe word.
It has largely been isolated
Irom LIe InLernuLIonuI com-
munILy Ior muny decudes und
wus LIereIore bypussed In LIe
gIobuIIsuLIon oI LIe worId econ-
omIes. L used Lo be suId LIuL
wIen you Iund uL LIe uIrporL
In Yungon, you Iuve Lo wInd
your wuLcI buck by decudes
us IL wus u cILy Irozen In LIme,
wILI IImILed uccess Lo muny oI
LIe LecInoIogIcuI udvunces oI
Melinda Tun
LIe z1
st
cenLury. Now, uII oI LIIs
Is cIungIng rupIdIy, wILI LIe
counLry ImpIemenLIng mujor
poIILIcuI und economIc reIorms
over LIe IusL Iew yeurs, resuIL-
ing in Myanmar re-entering the
gIobuI sLuge.
Myunmur Is now oerIng u
worId oI IresI opporLunILIes,
uLLrucLIng IoreIgn corporuLIons
und ugencIes euger Lo InvesL In
LIe counLry`s energy und re-
sources, LeIecommunIcuLIons,
hnuncIuI servIces, munuIucLur-
Ing und InIrusLrucLure secLors.
Its very rare that you see a
counLry oI more LIun 6o mIIIIon
people suddenly open up to the
worId, oerIng un enormous Iu-
bour Iorce und consumer mur-
keL.
A li ttle done, mor e to do
But in order to make the most
of these opportunities, Myan-
mur now needs Lo Iocus on de-
veIopIng ILs economy und re-
buIIdIng ILs hnuncIuI, IeguI und
pIysIcuI InIrusLrucLure In u wuy
LIuL promoLes IncIusIve growLI
Ior LIe mujorILy oI ILs cILIzens.
DeveIopIng u skIIIed workIorce
cupubIe oI IundIIng LIe coun-
trys transition to the global
economy Is one oI LIe muIn prI-
orILIes und cIuIIenges IucIng LIe
Myunmur governmenL.
And LIere Is mucI work Lo
be done. n purLIcuIur, muny
InLernuLIonuI compunIes now
looking at Myanmar as a poten-
tial investment destination are
hndIng LIuL decudes oI under-
investment and isolation have
led to a shortage of skilled la-
bour und proIessIonuIs wILI
international exposure, often
making it hard for them to do
busIness In LIe counLry. L`s Ior
LIIs reuson LIuL LIe AusLruIIu-
Myunmur CIumber oI Com-
merce deveIoped LIe ndusLry
SkIIIs Progrum.
The seminars provide an in-
vuIuubIe opporLunILy Ior Aus-
LruIIun compunIes Lo sIure
AusLruIIun IndusLry experLIse
uL ILs besL - worId-cIuss exper-
LIse, u sLrong cun-do uLLILude
and ability to have a good laugh
uL ourseIves (wIIcI resonuLes
weII wILI LIe Myunmur cuILure
oI IospILuIILy und Iumour).
n reLurn, LIe progrum oers
AusLruIIun compunIes LIe op-
portunity to develop impor-
LunL reIuLIonsIIps und coun-
Lry knowIedge necessury Lo do
busIness In Myunmur.
TIe LIree compunIes In LIe
delegation are seeking not only
to invest and explore oppor-
LunILIes oered by Myunmur`s
recenL LrunsILIon, buL uIso Lo us-
sIsL wILI LIe Lusk oI re-buIIdIng
LIe counLry und re-skIIIIng ILs
workIorce. WILIouL u doubL,
this foreign investment and
sIurIng oI skIIIs Is crILIcuI Lo
Myunmur`s economIc deveIop-
menL und growLI. And beIIeve
LIere Is no counLry beLLer posI-
LIoned LIun AusLruIIu Lo sIure
ILs experIence In key IndusLrIes
sucI us nuLuruI resources, InIru-
sLrucLure und ugrIcuILure, und
ussIsL Myunmur wILI ILs deveI-
opmenL prIorILIes.
This delegation highlighted
LIe roIe LIuL AusLruIIun cor-
poruLIons cun pIuy In sIupIng
AusLruIIu`s posILIon In LIe AsIun
CenLury. SIurIng our weII-rec-
ognised industry expertise and
besL prucLIces, wIIIe ussIsLIng
wILI IndusLry deveIopmenL
needs of our regional neigh-
bours, Is un eecLIve wuy oI ex-
porLIng AusLruIIu Lo our regIon
und buIIdIng cIoser LIes wILI
LIe our neIgIbours. L Is uIso u
point that has often been over-
Iooked In our counLry`s IIgI-
prohIe dIscussIons on LIe AsIun
CenLury.
EconomIc engugemenL Is noL
just about investing and trading
wILI our regIon; IL`s uIso ubouL
corporuLe AusLruIIu commIL-
ting to the region and sharing
ILs experIence und experLIse,
purLIcuIurIy In counLrIes und
secLors LIuL need IL mosL. TIe
experIence oI LIe recenL Aus-
tralian delegation to Myanmar
IndIcuLes LIuL LIIs muy weII be
u wInnIng IormuIu Ior AusLruIIu
nc.
Melinda Tun is a senior as-
sociate in the corporate prac-
tice at Baker& McKenzie and
a founder of the Australia-My-
anmar Chamber of Commerce.

Its very rare that you see a

country of more than 60 mil-
lion people suddenly open
up to the world, offering an
enormous labour force and con-
sumer market.
Myanmar is now offering a world of fresh opportunities, attracting foreign corporations and agencies eager to invest in the
country`s energy and resources, teIecommunications, nanciaI services, manufacturing and infrastructure sectors.
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But in order to make the most of these opportunities, Myanmar now needs to focus on developing its economy and rebuilding
its nanciaI, IegaI and physicaI infrastructure in a way that promotes incIusive growth for the majority of its citizens.
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. .. :..q.. . , .. :.~~ ~ ~.
~.q..:. ~.._.~q._.
. . ~.,_e ._~:.... ~ _..._~..
~ . ~ _~ ..:._e. ._ WoodsideEnergy,
McConnell Dowell . Aurecon
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June 12-18, 2014
Myanmar Business Today
mmbiztoday.com
REGIONAL BIZ
13
Myanmar Summary
Myanmar Summary
Sorvey Shows Thuis Hoping Army
Will Bring Order AIter Chuos
Junta has moved to suppress criticism, boost economy; Top general has indicated no election for more than a year
Orathai Sriring and
Pairat Temphairojana
A
n Index oI consumer
conhdence In TIuI-
land jumped in May on
hopes a military government
LIuL seIzed power promIsIng
to impose order after months
oI poIILIcuI cIuos wIII drug LIe
economy buck Irom LIe brInk oI
recessIon.
The army toppled the rem-
nants of Prime Minister Yin-
gIuck SIInuwuLru`s governmenL
on Muy zz uILer someLImes
deudIy proLesLs sInce Novem-
ber LIuL Iud Iorced mInIsLrIes
Lo cIose, IurL busIness conh-
dence und cuused LIe economy
Lo sIrInk.
TIe coup wus LIe IuLesL con-
vuIsIon In u decude-Iong con-
IcL beLween LIe Bungkok-
based royalist establishment,
dominated by the military,
old-money families and the bu-
reuucrucy, und LIe supporLers
oI YIngIuck und Ier broLIer,
TIuksIn SIInuwuLru, wIo ure
adored by the poor in the north
und norLIeusL.
SInce LIen LIe ruIIng junLu
Ius moved Lo suppress crILI-
cIsm und nIp proLesLs In LIe
bud. YIngIuck und promInenL
supporLers oI LIe SIInuwuLrus
Iuve been brIey deLuIned und
wurned uguInsL uny unLI-mIII-
Lury ucLIvILIes.
BuL LIe cruckdown does up-
pear to have brought some sta-
bIIILy Ior now, uILer monLIs oI
puruIysIs under u cureLuker gov-
ernmenL LIuL Iucked LIe power
Lo muke poIIcy or upprove new
spendIng.
The University of the Thai
CIumber oI Commerce (UTCC)
suId IusL week ILs Muy consumer
conhdence Index IIL ILs IIgIesL
IeveI sInce Junuury, jusL beIore
protesters disrupted a February
z eIecLIon cuIIed by YIngIuck In
u IuIIed bId Lo end LIe crIsIs.
TIe Index rose Lo ;o.; In Muy
Irom 6;.8 In AprII, wIen IL Iud
IuIIen Ior LIe 1LI monLI In u
row und wus uL ILs IowesL IeveI
In more LIun 1z yeurs. PoIIIng
Ior LIe Index wus currIed ouL uI-
Ler LIe coup.
TIe muIn IucLor boosLIng
senLImenL wus conhdence In
LIe IuLure due Lo poIILIcuI cIur-
ILy. PeopIe were more conhdenL
LIe economy wouId geL beLLer,
TIunuvuLI PIonvIcIuI, un eco-
nomIcs proIessor uL LIe unIver-
sILy, LoId u news brIehng.
UnIversILy PresIdenL Suow-
anee Thairungroj said an in-
dex on LIe poIILIcuI sILuuLIon
jumped Lo q.6 In Muy Irom
;. In AprII. L rose zz poInLs
In u monLI, compured wILI jusL
u Iew poInL cIunges prevIousIy,
und LIuL cume In jusL one week.
NoL everyone In Bungkok
sIured LIe opLImIsm.
`m noL so conhdenL wILI
LIIs governmenL. L`s noL sIm-
pIe Lo seIze conLroI wILI guns
und LIen munuge LIe counLry`s
economy. You`re brIngIng un
InexperIenced group Lo gov-
ern, suId SununLIu Pornsuk-
suwung, 6q, IookIng Ior IuncI In
u supermurkeL.
But Tanapan Sasikanyarak,
8, wIo wus seIIIng goods In
LIe supermurkeL, reckoned LIe
coup wus u good LIIng.
LIInk LIIs poIILIcuI sILuuLIon
wus scurIng uII LIe IoreIgners
uwuy Irom Bungkok, so ucLu-
uIIy weIcome LIe mIIILury In-
LervenLIon. HopeIuIIy, LIIs wIII
now Improve busIness Iere,
sIe LoId ReuLers.
Abuse of power
YIngIuck IerseII wus ordered
Lo sLep down Lwo weeks beIore
LIe coup wIen u courL Iound
Ier guIILy oI ubuse oI power.
Her broLIer TIuksIn, u Ior-
mer LeIecommunIcuLIons Ly-
coon wIo wus consIdered LIe
power beIInd Ier governmenL,
had been ousted as prime min-
IsLer In LIe IusL mIIILury coup In
zoo6. He Ius IIved In seII-Im-
posed exIIe sInce eeIng u zoo8
convIcLIon Ior ubuse oI power.
TIe junLu wunLs Lo move
swIILIy Lo revIve un economy
LIuL sIrunk z.1 percenL In LIe
hrsL quurLer oI zo1q.
L Ius exLended cuLs Lo vuIue-
udded und corporuLe Luxes und
moved quIckIy Lo puy bIIIIons
oI doIIurs owed Lo rIce Iurmers
uILer u sLuLe rIce-buyIng scIeme
coIIupsed under YIngIuck.
L Ius uIso exLended prIce cups
on IueI Lo IeIp consumers. n-
uLIon IIL u 1q-monLI IIgI oI
z.6z percenL In Muy.
TIe UTCC`s TIunuvuLI suId
Ie expecLed LIe rIce puymenLs
Lo InjecL ubouL 1oo bIIIIon buIL
($ bIIIIon) InLo LIe economy,
uIong wILI 1oo bIIIIon buIL In
promised loan guarantees for
smuII hrms pIus o-1oo bIIIIon
baht from initial investment in
InIrusLrucLure.
TIuL zoo Lo oo bIIIIon buIL
couId IeIp pusI up economIc
growLI by 1 Lo 1. percenLuge
points this year and its very
IIkeIy LIe economy wIII grow
z.- percenL, Ie suId.
TIe mIIILury wunLs Lo speed
up foreign investment approv-
als plus some of the big infra-
sLrucLure projecLs YIngIuck wus
unubIe Lo udvunce, In purL be-
cuuse u courL rejecLed IundIng
meLIods.
AIr CIIeI MursIuI PrujIn Jun-
Long, In cIurge oI economIc
matters for the junta, said a
buckIog oI InvesLmenL uppIIcu-
LIons worLI ubouL ;oo bIIIIon
buIL ($z1. bIIIIon) wouId be
ucLed on wILIIn Lwo monLIs.
The Board of Investment says
LIIs IncIudes uppIIcuLIons Irom
1o gIobuI cur mukers Ior In-
vesLmenLs LoLuIIIng ubouL 1q
billion baht related to plans
Lo promoLe LIe producLIon oI
more environmentally friendly
veIIcIes. Reuters
Bespite anti-coup protest an index of consumer condence in ThaiIand jumped in May on hopes a miIitary government that
seized power promising to impose order after months of poIiticaI chaos wiII drag the economy back from the brink of reces-
sion.
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Muluysiu Airlines Seeks More
Cost-Cotting to Sorvive Crisis
M
uIuysIu AIrIInes Is
sLeppIng up eorLs Lo
cuL cosLs Lo survIve,
IoIIowIng LIe mysLerIous dIs-
uppeurunce oI ILs IgIL MH;o
wIIcI Ius resuILed In LIe bIg-
gesL crIsIs In ILs qo-yeur IIsLory,
u senIor execuLIve suId.
TIe BoeIng ;;;-zoo, curry-
Ing zq pussengers und crew,
vunIsIed Irom rudur screens on
MurcI 8 sIorLIy uILer LukIng o
from Kuala Lumpur bound for
BeIjIng.
Before the disaster manage-
ment had hoped to break even
In zo1q uILer LIree yeurs oI
losses but last month it posted
Siva Govindasamy u record quurLerIy Ioss oI qq.q
mIIIIon rInggIL ($18 mIIIIon)
for the three months ended
MurcI 1.
TIe second quurLer LIIs yeur
Is u cIuIIenge buL LIe mun-
ugemenL wunLs Lo ImpIemenL
meusures LIuL, II successIuI,
couId enubIe LIe uIrIIne Lo breuk
even In zo1, HugI DunIeuvy,
LIe currIer`s dIrecLor oI com-
mercIuI operuLIons, suId.
Media reports in Malaysia
have also suggested that the
uIrIIne couId re-negoLIuLe ILs
cuLerIng und ground-IundIIng
conLrucLs.
ndusLry sources suId LIuL MAS
couId uIso cuL jobs und Ireeze
wuges und bonus puymenLs.
Revenues were IIL uILer LIe
MH;o dIsusLer In purL becuuse
the airline stopped all promo-
LIonuI und murkeLIng ucLIvILy.
Reuters
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June 12-18, 2014
Myanmar Business Today
mmbiztoday.com
REGIONAL BIZ
14
Myanmar Summary
Myanmar Summary
Cumbodiun, Myunmur Workers Iuce New
Chullenges in Thuilund
T
Ie coup In TIuIIund Is
cuusIng probIems Ior
hundreds of thousands
oI mIgrunL workers Irom neIgI-
bourIng CumbodIu und Myun-
mur.
AIong LIe Myunmur border,
workers suy TIuI securILy Iorces
Iuve sIuL down IIIeguI cross-
Ing poInLs, sLrundIng muny wIo
cross buck und IorLI Ior work In
TIuIIund.
WILIouL LIe ubIIILy Lo go
Iome, LIose wILIouL proper
work permILs now Iuve Lo sLuy
on the Thai side longer than be-
Iore und Iuce LIe possIbIIILy oI
urresL.
Tuesduy IusL week In Mue SoL,
ubouL zoo mIgrunLs were ur-
rested by the Thai immigration
und LIe poIIce.
One mIgrunL worker, wIo
dId noL wunL Lo be numed, LoId
VOA`s Burmese servIce LIuL
everyone wIo wus Luken uwuy
wus In TIuIIund IIIeguIIy.
PoIIce cume In eurIy In LIe
morning and arrested all peo-
pIe, IncIudIng LIe cIIIdren.
TIey uIso cume wILI soIdIers
und ImmIgruLIon omcIuIs.
TIere were ubouL zo Lo o veII-
cIes, IncIudIng LIe poIIce. AbouL
zoo uduILs und cIIIdren were
urresLed. TIey uII ure undocu-
Kimseng Men &
Aye Aye Mar
menLed peopIe.
MeunwIIIe, LIe ubor ALLu-
cI uL LIe Myunmur Embussy
In TIuIIund, TIeIn NuIng, LoId
VOA LIe vIsu exLensIon process
has resumed for legal Myanmar
mIgrunLs.
We sLurLed IssuIng |puss-
porLs| uL LIe border. We Iuve
uIso opened u bruncI In Bung-
kok. I LIere ure compIeLe docu-
ments, the Embassy in Bangkok
wIII work Lo Issue |LIe puss-
porLs|.
TIIngs ure uIso dImcuIL Ior
CumbodIun workers. Yu Nu-
vuLI, execuLIve dIrecLor oI
Curum CumbodIu, suId undocu-
menLed workers In TIuIIund
muy noL know ubouL LIe cIosed
borders und couId be urresLed
wIen LIey Lry Lo cross buck.
EspecIuIIy undocumenLed
workers wIo Iuve no knowI-
edge oI LIe Issue, Ie suId.
WIen LIey LruveI uL nIgIL, LIey
couId Iuce urresL.
Yu NuvuLI uppeuIed Lo Cum-
bodIuns consIderIng LruveIIIng
Lo TIuIIund Ior work Lo deIuy
LIeIr pIuns. He urged LIe Cum-
bodian Embassy in Thailand to
conLInue Lo geL InIormuLIon Lo
LIe provInces, wIere Cumbo-
dIun Iubourers work.
CumbodIun Embussy In TIuI-
Iund CouncIIIor GeneruI Ros
Serey recommends CumbodIuns
In TIuIIund uvoId LruveIIIng.
TIere Is no guIdeIIne Irom LIe
mInIsLry oI IoreIgn uuIrs, buL
wIoever cuIIs me or meeLs oLIer
dIpIomuLs, we normuIIy udvIse
LIem Lo remuIn cuIm, sLuy uL one
pIuce, und reIruIn Irom commIL-
LIng unyLIIng uguInsL LIeIr Iuws
Lo uvoId probIem.
MIgrunL worker Oeun Sumorn
conhrmed LIere ure poLenLIuI
probIems.
Iud some dImcuILIes und
Iuve been very cureIuI wIen
LruveIIIng, Ie suId.
An esLImuLed qoo,ooo Cum-
bodIuns work In TIuIIund, wIIIe
more than a million Myanmar
ure beIIeved Lo be workIng In
LIe counLry.
Thailands military tightened
LIe borders wIen IL Look conLroI
oI LIe counLry IusL monLI. VOA
Indiu's C Bunk Iuses Inution Tone,
Loosens Credit in Gestore to Modi
I
ndIu`s cenLruI bunk gover-
nor Raghuram Rajan last
week eused ruIes Lo spur
bunk IendIng und Loned down
IIs InuLIon rIeLorIc In moves
seL Lo be weIcomed by u new
pro-business government de-
LermIned Lo revIve economIc
growLI.
The Reserve Bank of India,
wIIcI kepL InLeresL ruLes on
IoId uL 8 percenL us wIdeIy ex-
pecLed, uIso IInLed IL wouId noL
ruIse ruLes us Iong us InuLIon-
ury pressures conLInued Lo euse.
TIe IoosenIng In credIL und
LIe cenLruI bunk`s surprIsIngIy
dovIsI remurks on InuLIon wIII
puL LIe onus on LIe new gov-
ernmenL Lo sLIck Lo conservuLIve
hscuI spendIng und brouder re-
Iorms Lo geL AsIu`s LIIrd-IurgesL
economy buck on Lruck, econo-
mIsLs suId.
TIe decIsIons Irom LIe RB
Suvashree Dey Choudhury
and Rafael Nam
were wIdeIy seen us prugmuLIc
moves. Rujun Ius pIuced hgILIng
InuLIon uL LIe Lop oI IIs ugendu,
Ior wIIcI Ie wIII need LIe sup-
porL oI Nurendru ModI, ndIu`s
popuIur new prIme mInIsLer.
In turn, investors are hopeful
LIe new governmenL wIII re-
spond by nurrowIng LIe hscuI
dehcIL und LuckIIng LIe suppIy-
sIde IucLors LIuL drIve
up Iood InuLIon In
India, thus easing the
burden on the poor
and restoring inves-
Lors` conhdence.
I LIe economy
sLuys on LIIs course,
IurLIer poIIcy LIgIL-
enIng wIII noL be wur-
runLed, Rujun suId In
the RBI statement, re-
ferring to the moder-
uLIng InuLIon Lrend.
TIe cenLruI bunk
governor added that
LIe ModI-Ied vIcLory
In eIecLIons IusL monLI
couId IeIp creuLe u
conducIve envIron-
menL Ior compreIen-
sIve poIIcy ucLIons und
a revival in aggregate
demund us weII us u gruduuI re-
covery oI growLI.
The governors dovish tone on
InuLIon spurked u ruIIy In bonds
und ruIsed expecLuLIons LIe cen-
Migrant workers from Myanmar on a shing trawIer docked west of Bangkok.
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LruI bunk couId even euse mon-
eLury poIIcy us eurIy us LIIs yeur.
AILIougI LIe RB Ius u wIde
latitude in setting monetary
poIIcy, IL Is noL sLuLuLorIIy Inde-
pendenL und Ius Lo consuIL wILI
LIe hnunce mInIsLer beIore Luk-
Ing u decIsIon. Reuters
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India`s centraI bank governor Raghuram Rajan toned down his inHation rhetoric in moves set to
be welcomed by a new pro-business government determined to revive economic growth.
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June 12-18, 2014
Myanmar Business Today
mmbiztoday.com
REGIONAL BIZ
15
Myanmar Summary
Myanmar Summary
Chinu Levies Anti-omping oties on Chemicul Irom LS And Iorope
C
hina has begun levying
an anti-dumping tax on a
cIemIcuI ImporLed Irom
the European Union and the
UnILed SLuLes, LIe Commerce
MInIsLry suId IusL week, LIe
latest in a string of issues that
couId IueI rIsIng Lrude LensIons.
Trade ties have been strained
by a series of dumping disputes,
IncIudIng u mujor one InvoIvIng
soIur muLerIuIs beLween CIInu
und LIe Europeun UnIon.
TIe mInIsLry suId CIInu wouId
Impose duLIes oI z;.6 percenL
on European exports of per-
cIIoreLIyIene, u cIemIcuI used
In InsecL repeIIenL und reIrIger-
Xiaoyi Shao and
Jonathan Standing
unLs, uccordIng Lo u sLuLemenL
on ILs websILe, www.moIcom.
gov.cn.
A Lux oI ;1.8 percenL wIII
be imposed on exports of the
cIemIcuI by US compunIes, In-
cIudIng Dow CIemIcuI Co und
OccIdenLuI CIemIcuI Corp, IL
suId.
TIe duLIes Look eecL Irom
Muy 1 und wIII run Ior hve
yeurs. TIe mInIsLry dId noL ex-
pIuIn wIy IL wus LurgeLIng LIIs
cIemIcuI now, nor wIy LIere
wus sucI u dIerence In LIe Iev-
Ies.
TIe UnILed SLuLes won u Lrude
dIspuLe wILI CIInu IusL monLI
over duties on US exports of
Iurge curs und sporL uLIIILy veII-
cIes. Reuters
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Singupore Home Prices Muy Iull More: Stundurd Churtered
S
Ingupore`s Iome prIces
wIII probubIy IuII IurLIer
beIore LIe IousIng curbs
InLroduced In LIe pusL hve yeurs
ure scuIed buck, SLundurd CIur-
Lered PIc`s SouLIeusL AsIu Ieud
suId.
You wouId sLurL Lo Luke uwuy
some oI LIese meusures II prIce
growLI reucIes u cerLuIn IeveI oI
equIIIbrIum, Im CIeng Teck,
cIIeI execuLIve omcer Ior Aseun
or LIe AssocIuLIon oI SouLIeusL
AsIun NuLIons, suId In un InLer-
vIew In SIngupore.
don`L LIInk we ure uL un
equIIIbrIum yeL.
TIe cILy`s prIvuLe Iome prIces
dropped by the most in almost
hve yeurs IoIIowIng u cumpuIgn
LIuL sLurLed In zooq Lo curb
properLy murkeL specuIuLIon,
wILI governmenL curbs rungIng
from taxes on property sales,
additional levies on foreign
buyers und morLguge IImILs.
Im decIIned Lo predIcL Iow
mucI oI u downsIde Ie expecLs
Ior Iome prIces beIore IousIng
meusures wouId be IIILed.
MoneLury AuLIorILy oI SIngu-
pore MunugIng DIrecLor RuvI
Menon said that the property
measures may not be perma-
Sanat Vallikappen
and Pooja Thakur
nenL und wIII onIy be used
from time to time, the Business
TImes reporLed, cILIng u speecI.
Under Singapores loan
Irumework, Ienders musL con-
sIder u borrower`s LoLuI debL
wIen grunLIng morLguges, LIe
MoneLury AuLIorILy, wIIcI Is
LIe cenLruI bunk, suId IusL yeur.
A borrower`s Ioun repuymenLs,
IncIudIng morLguges, sIouIdn`L
exceed 6o percenL oI Income,
bused on LIe poIIcy guIdeIInes.
Too ear ly
L`s sLIII Loo eurIy Lo remove
curbs, suId DonuId Hun, mun-
ugIng dIrecLor oI CIesLerLon
SIngupore PLe, u reuI esLuLe con-
suILIng compuny.
TIe governmenL wIII monILor
buL LIeIr hngers won`L be press-
ing any buttons at this point in
LIme.
Some developers that have
cuL prIces by 1o percenL Lo 1
percenL ure druwIng buyers, Ie
suId.
Lims outlook mirrors those
oI CupILuund Ld. (CAP),
Singapores biggest developer,
wIIcI suId In ebruury LIuL LIe
government may start easing
some of its property measures
II Iome prIces drop beLween
percenL und 1o percenL LIIs
yeur. Some curbs LIuL were In-
Lroduced were Ior LIe sIorL
Lerm, sucI us sLump duLIes or
Luxes Ior Iomebuyers, CEO Im
MIng Yun suId In un InLervIew uL
LIe LIme.
An Index LruckIng prIvuLe resI-
denLIuI prIces IeII 1. percenL In
LIe hrsL quurLer, IoIIowIng u o.q
percenL drop Irom u record In
LIe prevIous LIree monLIs, uc-
cordIng Lo governmenL duLu.
TIe IuLesL decIIne Is LIe IurgesL
sInce June zooq.
TIe curbs reuIIy prevenLed
LIe bubbIe Irom IormIng,
SLundurd CIurLered`s Im suId.
TIIs downwurd udjusLmenL In
prIces Is noL u very drusLIc und
sIurp drop. TIuL wouId udd Lo
LIe sLubIIILy oI LIe murkeL.
EIsewIere In LIe regIon, Im
suId LIe bIg growLI murkeLs
for the bank are Indonesia,
LIe PIIIIppInes und MuIuysIu.
SLundurd CIurLered, wIIcI em-
pIoys o,ooo peopIe In SouLI-
eusL AsIu, Is keen Lo purLIcI-
puLe In LIe Myunmur bunkIng
secLor wIen IL`s opened Lo Ior-
eIgn Ienders, Ie suId. TIe bunk
Ius u represenLuLIve omce In
Yungon. Bloomberg
Marina Bay Sands stands in Singapore.
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June 12-18, 2014
Myanmar Business Today
mmbiztoday.com
INTERNATIONAL BIZ
16
Myanmar Summary
Myanmar Summary
Regolutor Rups Big Ioor Over Bunk Aodits
T
Ie InuncIuI Re-
porLIng CouncII
(RC) Ius crILIcIsed
LIe BIg our uccounLIng
hrms Ior conLInued IuII-
Ings In LIeIr uudIL work uL
bunks und buIIdIng socIe-
LIes.
AudIL quuIILy conLInues
Lo IuII beIow uveruge be-
cuuse oI InsumcIenL LesL-
Ing und cIuIIenges, LIe
unnuuI revIew suId. TIe
RC wurned LIuL bunks
couId be exposIng LIem-
selves to bad debts be-
cuuse uudILors Iuve IuIIed
Lo cIuIIenge LIem on LIe
amount of money they put
usIde Lo cover Ioun Iosses.
TIe wuLcIdog InspecLed
1o bunk und buIIdIng so-
cIeLy uudILs Irom zo1-
1q, buL noL one couId be
cIussIhed us 'good`; IuII
required some improve-
menL und one wus Iound
Lo be In need oI 'sIgnIh-
cunL ImprovemenL`.
PuuI George, RC exec-
uLIve dIrecLor Ior conducL,
suId: We Iuve noL seen
enough progress in the
quality of bank and build-
Ing socIeLy uudILs wIIcI
conLInues Lo be generuIIy
beIow LIuL oI oLIer Lypes
oI enLILIes.
We ure purLIcuIurIy
concerned ubouL LIe Iuck
oI sumcIenL cIuIIenge
Robert Lovell
wIen LesLIng key ussump-
tions underpinning loan
Ioss provIsIons.
Buck In zo11 u House oI
Lords inquiry found the
Big Four auditors had a
dIsconcerLIngIy compIu-
cenL vIew oI LIeIr roIe In
auditing the main banks
durIng LIe hnuncIuI crIsIs.
TIe IurgesL oI LIe hrms,
PwC, cume In Ior purLIcu-
Iur crILIcIsm In LIe ords`
report over its audit of
NorLIern Rock. oIIow-
Ing LIIs u House oI ords
commILLee cuIIed Ior LIe
Omce oI uIr TrudIng
(OT) Lo InvesLIguLe con-
cenLruLIon wILIIn LIe uu-
dIL murkeL.
TIe new RC revIew
suId hrms Iud mude
cIunges Lo meLIodoIogIes
und guIdunce; Iowever
dehcIencIes were uIso
IdenLIhed In LIe LesLIng oI
T conLroIs on u number
oI bunk uudILs.
L uIso Iound breucIes oI
the rules on auditor inde-
pendence und conLInuIng
problems in the audit of
IeLLerbox compunIes.
Despite these areas for
improvement, the regu-
lator found that good
standards in audit qual-
ILy were beIng muInLuIned
buL greuLer consIsLency
wus requIred.
OveruII 6o percenL oI
uudILs were conducLed
to a good standard or re-
quiring only limited im-
provemenLs.
The proportion of audits
wILI LIe IIgIesL grude In
LIe RC`s InspecLIons uIso
conLInues Lo Increuse und
this is a high bar to pass
- 86 percenL oI LIe uudILs
InspecLed oI TSE 1oo
compunIes were good or
required only limited im-
provemenLs.
A LIemuLIc InspecLIon oI
uudILIng ucross LIe secLor
Is now underwuy, bused
on LIe revIew oI 1 bunk
uudILs.
TIe RC`s concIusIons
wIII be pubIIsIed In No-
vember zo1q.
Ied Muy Shon Globul Risk Roles
Bunks Spent Billions to Meet
T
he Federal Reserve
muy scrup InLer-
national measures
aimed at assessing bank
health in favour of impos-
Ing ILs own ruIes, Irus-
LruLIng bunkers wIo Iuve
spent billions of dollars
retooling their books to
meeL gIobuI sLundurds.
ed omcIuIs ure con-
cerned LIuL purLs oI u key
tool that regulators have
developed to measure
bunks` rIskIness - known
us BuseI cupILuI ruIes
- ure uwed und cun be
gumed by LIe compunIes.
Under BuseI, bunks cun
deLermIne Iow mucI debL
LIey cun Luke on by usIng
LIeIr own modeIs und com-
puLer sysLems Lo cuIcuIuLe
Iow rIsky LIeIr usseLs ure,
umong oLIer meLIods. TIe
higher the risk, the less
David Henry and
Emily Stephenson
money bunks cun borrow
und Iend, In Lurn cuLLIng
Income bunks cun eurn.
n oLIer words, LIe BuseI
ruIes gIve bunks u cIunce
Lo monkey wILI LIeIr rIsk
modeIs Lo boosL prohL.
n u Muy speecI, ed
Governor DunIeI TuruIIo
condemned LIe IuLILude
that Basel III gives banks
Lo use LIeIr own modeIs.
WIIIe Ie wus expressIng
IIs own vIews, u source
IumIIIur wILI LIe muLLer
told Reuters that Tarullos
opinion is held by other
governors.
Instead of the Basel
rules, Tarullo promoted
LIe use oI LIe ed`s own
yurdsLIck oI bunk IeuILI,
u LesL oI Iow bunk us-
seLs wouId perIorm dur-
ing market turmoil or an
economIc sIump. TIuL
process, wIIcI LIe ed
has developed separately
from the Basel regula-
LIons, Is known us LIe
sLress LesL.
As u prucLIcuI muLLer,
IL Is our bIndIng cupI-
LuI sLundurd, suId JoIn
Dugun, Iormer US Comp-
LroIIer oI LIe Currency
und now u purLner uL LIe
Iuw hrm oI CovIngLon &
BurIIng In WusIIngLon.
TIe ed`s decIsIon Lo
empIusIse u dIerenL pro-
cess Ior evuIuuLIng rIsk Is
muddenIng Lo bunks, wIo
compIuIn LIuL LIe ed`s
LesLs ure opuque. TIe
regulator fears that banks
wouId hnd wuys Lo cIeuL
LIe LesLs II LIey knew Loo
mucI ubouL LIe meLIod-
ology, so it gives them lit-
LIe deLuII ubouL IL. Every
yeur, LIe ed cun uIso
cIunge LIe sLressIuI sILu-
uLIons IL LesLs Ior.
TIe worId`s bIggesL
banks have probably spent
bIIIIons oI doIIurs In recenL
yeurs buIIdIng compuLer
modeIs, IIrIng sLu und
seIIIng usseLs Lo compIy
wILI BuseI , unuIysLs
suId. An execuLIve uL u mu-
jor bank told Reuters last
yeur LIuL IIs hrm Iud spenL
$oo mIIIIon on modeIs
und sysLems uIone.
WILIouL more deLuII
about the Feds rules,
banks must hold more
cupILuI, possIbIy con-
straining their lending
und gIobuI growLI, bunk-
ers suId. WeIIs urgo &
Co, LIe IourLI-IurgesL
US bunk, suId uL u recenL
conIerence LIuL IL Is IoId-
Ing more cupILuI In Iurge
purL becuuse oI LIe ed`s
sLress LesL.
The Fed and other regu-
IuLors ure cIurged wILI
maintaining the health of
LIe hnuncIuI sysLem, noL
muxImIsIng bunk prohLs.
Reuters
The US Federal Reserve building in Washington.
R
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The FinanciaI Reporting CounciI (FRC) has criticised the Big Four accounting rms for continued faiIings in their audit work at banks and
building societies.
M
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Federal Reserve ~.,_e
~.:.q.~_..q.~~~
~_._ _._ . q:. , ..:.~:.
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.~ .:.~q ..'.:., ..:
..| ..:.. :~. ._.~: , .~ -
.:~..:.~:. ~.:.. , .,.
_e ~~_..q, .._:..
..:.,._ ~..,.q
.:.~:. ~.q.e.~:.__e.
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Federal ~q:q.:.~.,_e
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~. q:e ~:. ~ .~:. q, _..
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rules ._ ~.~.:.~.,_e
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FRC -~...:.|q~~:
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June 12-18, 2014
Myanmar Business Today
mmbiztoday.com
INTERNATIONAL BIZ
17
Myanmar Summary
Myanmar Summary
IA Culcolutes Costs oI Lost Injoyment II
I-Cig Roles Prevent Smoking
A
s US health regula-
Lors consIder wIuL
rules to impose
on eIecLronIc cIgureLLes,
In LIeIr LuIIy oI cosLs und
benehLs LIey Iuve pIuced
a value on the lost pleas-
ure consumers muy suer
II LIey used LIe producLs
Iess or noL uL uII.
The US Food and Drug
AdmInIsLruLIon suys In u
IILLIe-noLIced documenL
released alongside its pro-
posals for regulations in
AprII LIuL LIe projecLed
benehLs oI LIe new ruIes,
wIIcI uIso uppIy Lo cIgurs,
hookahs and other vapour
producLs, sIouId be cuL by
;o percenL Lo uccounL Ior
LIe deprIvuLIon consum-
ers wouId suer.
TIuL meuns II LIe ugency
puLs u vuIue oI $1oo,ooo
on the longer and im-
proved life that might
be ucIIeved by deLerrIng
someone from smoking,
LIen IL wouId cuL LIuL
benehL ussessmenL Lo
$o,ooo becuuse oI LIe
pIeusure LIey IosL.
TIe upproucI Is regurd-
ed us rudIcuI umong LIose
wIo Iuve done cosL-bene-
hL sLudIes Ior reguIuLors.
Some pubIIc IeuILI ud-
vocuLes wurn IL wIII IeIp
LIe Lobucco IndusLry ur-
Sharon Begley
gue LIuL LIe cosL oI com-
pIyIng wILI resLrIcLIons
on new nIcoLIne producLs
exceeds uny benehL Lo LIe
pubIIc, mukIng IL eusIer Lo
scuLLIe LIose ruIes. TIey
uIso Ieur IL couId be up-
plied more broadly to
reguIuLIon oI producLs,
sucI us Iood und uIcoIoIIc
beverages, that is meant
Lo proLecL pubIIc IeuILI.
TIIs mukes IL u IoL
harder to justify regu-
IuLIons on cosL-benehL
grounds, suId Dr SLun-
Lon GIunLz, u proIessor oI
medIcIne und u Lobucco
conLroI experL uL LIe UnI-
versILy oI CuIIIornIu, Sun
runcIsco, wIo Iuvours
LougI reguIuLIon oI e-cIg-
ureLLes und cIgurs. L wIII
undermine anything they
Lry Lo do ubouL unyLIIng.
Under u 1qq execu-
tive order signed by then
PresIdenL BIII CIInLon, US
regulators are required
Lo sIow LIe benehL oI u
reguIuLIon wouId exceed
ILs cosLs. A proposuI LIuL
wouId muke u munuIuc-
Lurer spend $1 bIIIIon Lo
uverL $1oo mIIIIon In poI-
IuLIon cosLs, Ior InsLunce,
wouId IIkeIy noL see LIe
IIgIL oI duy.
BuL wILI noveI Lobucco
und nIcoLIne producLs, LIe
DA Is puLLIng ILs LIumb
on LIe cosL-benehL scuIe
In u wuy no oLIer ugency
Ius beIore, uccordIng Lo
currenL und Iormer regu-
IuLors und economIsLs
wIo specIuIIse In sucI
sLudIes.
In its proposed rules, the
DA Ius uIreudy Lreuded
IIgILIy. L wouId bun LIe
suIe oI e-cIgureLLes Lo uny-
one under 18, buL wouId
noL resLrIcL uvoured
producLs, onIIne suIes or
udverLIsIng.
TIe DA used LIe sume
lost-pleasure analysis
wIen IL ussessed LIe cosLs
und benehLs oI requIrIng
grupIIc wurnIng IubeIs on
Lobucco producLs - reguIu-
tions the industry opposes
und LIuL Iuve been bIocked
by u IederuI courL. TIuL
wus uIso IILLIe noLIced ouL-
sIde u smuII group oI pubIIc
IeuILI udvocuLes und oLIer
poIIcy experLs.
In response to ques-
tions from Reuters, an
DA spokeswomun suId
LIuL even wILI LIe IncIu-
sion of the lost-pleasure
IucLor, LIe benehLs oI ILs
proposed e-cIgureLLe reg-
uIuLIons wIII sLIII exceed
LIe cosLs. SIe uIso suId
LIe Lobucco IndusLry dId
noL pressure LIe ugency
Lo IncIude IL In LIe unuIy-
sIs, wIIcI wus conducLed
by In-Iouse economIsLs
wILI no InpuL Irom poIILI-
cuI uppoInLees.
As Lo wIeLIer usIng
sucI u Iurge IosL-pIeusure
IucLor couId weuken regu-
IuLIons, LIe spokeswomun
suId, We wIII noL pre-
judge any potential regu-
IuLory ucLIon.
DA economIsLs Iuve
previously hinted that the
ugency sIouId uppIy LIe
idea of lost enjoyment in
ureus beyond Lobucco.
In a paper published on-
line this year in the jour-
nuI HeuILI EconomIcs,
they argued that guilty
pleasures like junk food
und uIcoIoI ure so enjoy-
ubIe LIe benehLs oI re-
ducIng LIeIr use LIrougI
regulation should be dis-
counLed by up Lo qq per-
cenL. Reuters
Enthusiast Brandy Tseu uses an electronic cigarette at The Vapor Spot vapor bar in Los Angeles, Cali-
fornia.
M
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ICB to Leud Revump oI Globul
IX Codes oI Condoct
T
Ie Europeun Cen-
tral Bank has been
given the lead role
In work Lo sLrengLIen
codes oI conducL Ior cur-
rency murkeLs, expecLed
to be one of the main ar-
eas highlighted in a report
from global regulators
due wILIIn weeks.
BunkIng IndusLry sourc-
es suId work on new sLund-
urds were Lop oI LIe Lo-do
list after a meeting in
Sydney IusL monLI wIIcI
brought together eight
cenLruI bunk commILLees
cIurged wILI keepIng Lubs
on LIe worId`s bIggesL h-
nuncIuI murkeL.
TIe meeLIng IoIIowed
u IruugIL 1z monLIs Ior
LIe gIobuI currency mur-
Patrick Graham and
Marc Jones
keL. More LIun qo deuI-
ers Iuve now been hred
or suspended IoIIowIng
cIuIms LIuL senIor bunk-
ers used cIIenL order In-
formation improperly to
munIpuIuLe prIces.
Many in the industry say
pressure Is IIkeIy Lo grow
Ior more rudIcuI ucLIon Lo
Ieud o uny wrongdoIng.
BuL sources suId unyLIIng
uIong LIese IInes wouId
probubIy noL come unLII
uILer LIe hrsL resuILs Irom
various investigations un-
derwuy uround LIe gIobe.
TIe InuncIuI SLubIIILy
Board, the global regula-
tory body, is due to pub-
IIsI ILs InILIuI hndIngs on
currency bencImurks
wILIIn weeks. TIe group
LIuL meL In Sydney - LIe
GIobuI oreIgn ExcIunge
CommILLees - Is sepuruLe
to the FSB, but the par-
LIcIpunLs ure very sImIIur.
GIvIng LIe ECB LIe co-
ordinating role in looking
uL codes oI conducL puLs
conLroI oI LIe process ouL-
sIde oI LIe worId`s bIggesL
currency LrudIng cenLres
In ondon und New York.
TIe ECB, uIong wILI LIe
Reserve Bunk oI AusLruIIu
und LIe Bunk oI Cunudu
are all signed up to the
ModeI Code run by deuIer
ussocIuLIon, LIe AC. TIe
New York ederuI Re-
serve and Bank of Eng-
Iund boLI Iuve LIeIr own
set of rules, but an agree-
menL on LIe new prIncI-
pIes couId LIe uII cIoser
LogeLIer.
The minutes of the Syd-
ney meeLIng sIowed LIe
banks agreed to establish
IIgI IeveI prIncIpIes buL
that all of this might need
Lo be revIsILed IuLer.
L Is InLeresLIng LIuL
LIe ECB Ius IurgeIy been
gIven conLroI oI LIIs pro-
cess, suId one bunkIng
source. EecLIveIy LIe
end game is some kind of
rewrILIng or IormuI udop-
LIon oI u IoL oI LIose pIec-
es oI LIe AC modeI code
by uII oI LIose cenLres.
Reuters
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._~:.~.~.:.~~. ~.:
...~ ~ ._ .. . , .. . .. .:.
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.e:_.._e .,.,.q._ .
._~....~ ~ .:.~~ ~ ~ ~~
.:.~:. ..:..q, ...:
.. ~ .~ q ._~: ..q q._.
~ . . , ., ... . . :.-
~. ~q e. .~~ . .. .,
~ _....._ .......~
~. : ~_ ~ .. ._:.q... .
~~~:. ...:.~q._
-e~.~:.~q... ~~
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. ~:. ~.q._~ .. . ..: q,
.:q .~ _ . .. . ..: .
._~:. .q._.
~..q~,~,..:.q.~:~,
q..:.~ ......~q~~
~..q, ....:....:..,
._ .~~e _. ~ ~ , ~ .:
.. .. .~ . .. _._ . .:.
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e. ~ . . . _. ._e. ._~: .
.q._.
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...~|. , _ ~:.. .. ._:,~
.~_.ee,_~:..~.:.~
-_. .~~ .~ ~ _., . _. .
~ _., .~ .:. ~ .... .
. .~ .~ ..:.. _ ..:.~
~ q:..,.., _e~.~:~
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~ . ~. , . , .:.~._.
.~:~..~_..~:._e ...
q ~ _ ~ .. . , .. :.~ ..|.
~ ..._ _e. ..: ._. _._ .
. ~~ ~ ~~ .q ._ . . q.
~.._e.._e _._.~,..:
.q..q.,.:.~ .~...._.:
_~:..._.
June 12-18, 2014
Myanmar Business Today
mmbiztoday.com
INVESTMENT & FINANCE
18
unish Pension Ionds Reudy to Reinvest in Myunmur
D
anish pension funds
ATP und PKA suy LIey
are ready to invest in
compunIes InvoIved In oII ex-
LrucLIon In Myunmur uguIn,
IoIIowIng LIe governmenL`s
cIunge oI sLunce on condILIons
In LIe SouLIeusL AsIun counLry.
n u sLuLemenL, ATP suId:
TIe sILuuLIon In MyunmurJ
Burmu Ius cIunged In u posI-
LIve dIrecLIon, LIe EU suncLIons
have been lifted, and Denmark
is opening an embassy in the
counLry In LIe course oI zo1q.
ATP, PKA und Iubour-murkeL
pension fund Sampension sold
InvesLmenLs In compunIes In-
voIved In oII exLrucLIon In LIe
counLry In zoo;-o8 uILer LIe
Danish government took the
vIew LIuL EU suncLIons uguInsL
the Burmese government
sIouId uIso IncIude oII exLruc-
LIon ucLIvILIes.
The Danish Ministry of For-
eIgn AuIrs Ius now conhrmed
Lo ATP IL Is no Ionger Den-
murk`s vIew LIuL LIere sIouId
be suncLIons uguInsL oII ex-
LrucLIons In BurmuJMyunmur,
LIe C8o.q-bIIIIon
(DKK6oo bIIIIon) pen-
sIon Iund suId.
It said it therefore
decIded Lo sLop excIud-
Ing compunIes Irom ILs
investment universe
on the grounds that
LIey were InvoIved In
oII exLrucLIon In LIe
AsIun counLry.
ATP Ius uL presenL noL mude
Rachel Fixsen any investments in any of the af-
IecLed compunIes, LIe pensIon
Iund suId.
I ATP does decIde uL some
point to invest in one of these
compunIes uguIn, u screenIng
wIII hrsL Luke pIuce oI LIe busI-
ness to establish that there are
no elements of the business that
couId conLruvene ATP`s guIde-
IInes on socIuI responsIbIIILy.
n OcLober zoo;, ATP suId IL
wouId dIvesL ILs DKKq mIIIIon
($1;o.q mIIIIon) sLuke In ToLuI
und seII o smuIIer IoIdIngs In
oLIer oII compunIes workIng dI-
recLIy wILI Burmese sLuLe enLer-
prIse Myunmur OII.
PKA LIen suId IL wouId seII LIe
DKK6 mIIIIon oI sIures IL IeId
In ToLuI.
SumpensIon uIso suId IL wouId
divest holdings in Total and
CIevron, wIIcI umounLed Lo
uround DKK1oo mIIIIon oI us-
seLs.
A spokesmun Ior pensIons ud-
mInIsLruLor PKA, wIIcI mun-
uges usseLs oI DKK1qq.8 bIIIIon
Ior hve Iubour-murkeL pensIon
Iunds, suId LIe compuny Look LIe
sume vIew on LIe muLLer us ATP.
PKA Ius been In dIuIogue wILI
the Danish government,
und sInce LIere ure no
poIILIcuI suncLIons Lo
consIder, PKA cun InvesL
In compunIes In Burmu
as long as they dont vio-
IuLe PKA`s eLIIcuI guIde-
IInes, Ie suId.
However, PKA dId noL
Iuve uny concreLe pIuns
on InvesLIng In purLIcu-
Iur compunIes operuLIng In Bur-
mu us yeL, Ie suId.
n JuIy IusL yeur, LIe EU reIn-
sLuLed LIe GeneruIIsed ScIeme
oI PreIerences (GSP) LurI
preIerences Lo BurmuJMyun-
mur, IuvIng LemporurIIy wILI-
druwn LIem In 1qq; due, LIe
EU CouncII suId, Lo vIoIuLIons
In LIe counLry oI LIe prIncIpIes
oI LIe O convenLIon on Iorced
Iubour.
TIe GSP LurI preIerences IeL
deveIopIng counLrIes puy Iess or
no duties on exports to the EU,
gIvIng LIem uccess Lo Europeun
murkeLs.
SInce IusL summer, LIe EU
has been making further moves
Lowurds normuIIsuLIon oI Lrude
reIuLIons wILI LIe counLry.
Myanmar Summary
Myanmar Summary
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Myunmur to Get Koreun Sopport on Iinunciul Systems
S
ouLI Koreu`s InuncIuI
ServIces CommIssIon
(SC) CIuIrmun SIIn Je-
Aye Myat yoon Ius ugreed wILI Myunmur
poIIcymukers Lo exporL corpo-
ruLe credIL ruLIng und oLIer h-
nuncIuI sysLems Lo LIe counLry.
TIe SC suId IusL week LIuL IL
wIII dIspuLcI hnuncIuI poIIcy
advisors to Myanmar to support
Koreu`s CredIL Bureuu (CB), u
SeouI-bused credIL-evuIuuLIon-
servIce sysLem Ior hnuncIuI
hrms, und u corporuLe credIL
rationing system to be adopted
LIere, uccordIng Lo SouLI Ko-
reun medIu reporLs.
CIuIrmun SIIn uLLended LIe
Koreu-Myunmur ADB Inun-
cIuI orum on June z Lo sIure
Koreu`s hnuncIuI deveIopmenL
experIence und promoLe purL-
nersIIp.
AL LIe Iorum, SIIn InLroduced
Koreu`s successIuI hnuncIuI
sysLems, sucI us ILs corporuLe
credIL ruLIonIng sysLem und ex-
perIences on poIIcy Iouns und
ILs deposIL Insurunce sysLem,
wIIcI Iuve conLrIbuLed Lo Ko-
reu`s economIc deveIopmenL.
He suId LIe cIuIIenges Iuc-
Ing Myunmur`s bunkIng secLor
ure Iuck oI hnuncIuI supporL Lo
smuII und medIum-sIzed com-
punIes, Loo mucI reIIunce on se-
cured Iouns und u drop In bunk-
Ing conhdence due Lo u cIuIn oI
bunk runs.
Koreu`s hnuncIuI secLor Ius
successIuIIy nuvIguLed u serIes
oI hnuncIuI wuves. Koreu`s ex-
perIence wIII IeIp Myunmur ex-
pIore wuys Lo resLore conhdence
und Improve compeLILIveness
In LIe bunkIng secLor, Ie wus
quoLed us suyIng.
Shin also stressed that Korea
wIII be u sLrong purLner Lo My-
unmur us muny hnuncIuI hrms
In Koreu ure ucLIveIy IookIng Lo
InvesL In LIe Myunmur murkeL.
Korea has supported Myan-
mur Lo deveIop LIe sLock murkeL
und provIded LecInIcuI LruInIng
for anti-money laundering and
hnuncIuI supervIsIon.
Koreu und Myunmur sIure
muny sImIIurILIes In cuILure und
IIsLory. Iope LIuL LIe nexL Ko-
reun wuve Iuppens In LIe hnun-
cIuI secLor, Ie suId.
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The Financial Services Commission (FSC) sign in front of its headquarters in South
Korea.
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June 12-18, 2014
Myanmar Business Today
mmbiztoday.com
INVESTMENT & FINANCE
19
From page ...(;,o,ooo)
From page ...(;,o,ooo)
Myanmar Summary David Mayes
M
uny IumIIIes nowuduys
ure comprIsed oI Lwo
IuII LIme eurners wIo
sIure In LIe hnuncIuI responsIbII-
ILIes. ncomes muy noL uIwuys be
equuI oI course, und muny IumI-
IIes sLIII IIve uccordIng LIe more
LrudILIonuI modeI oI one Income
provIder und one Iome muker.
RegurdIess oI Iow LIe money Is
eurned, LIe IuLure hnuncIuI IIu-
Plun Ior Iinunciul Soccess us u Iumily
bilities of the family are the same,
und LIe pIunnIng process sIouId
LIus reecL LIIs IucL.
n prucLIce, Iuve Iound LIuL
LIe eurner Is oILen LIe one wIo
takes on the additional burden
oI IormuIuLIng LIe hnuncIuI
pIun on LIeIr own, und LIIs Is
noL LIe correcL upproucI In my
opInIon. ALLILudes Lowurd rIsk
vury greuLIy, und II LIe dIscus-
sion on taking risks is had as a
family unit then there is a great-
er IIkeIIIood LIe end resuIL wIII
uccuruLeIy muLcI LIe composILe
attitude of both parties as op-
posed Lo onIy one. A nIgILmure
scenurIo you wunL Lo uvoId Is
IuvIng IosL u Iuge cIunk oI LIe
nesL egg wIen your beLLer IuII
is extremely risk averse and
cIueIess oI wIuL you Iuve been
up Lo In LIe InvesLmenL uccounL.
TIe IucL uIso Is LIuL boLI
halves of any marriage make
conLrIbuLIons, even II onIy one
Is meusured In moneLury Lerms.
MosL coupIes sIure In uII oI LIe
mujor decIsIons oI LIeIr IIves Lo-
geLIer, und hnunces sIouId be
no dIerenL. PIunnIng LogeLIer
and taking a route both of you
ure comIorLubIe wILI wIII suve
numerous potential arguments
in the future if market roller
cousLer rIdes InevILubIy send
LIe reLIremenL uccounL up und
down over LIme. L wIII uIso IeIp
boLI purLIes undersLund wIy
some non-essenLIuI purcIuses
D
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G
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B
lo
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b
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g
mIgIL be beLLer o deIuyed or
skIpped uILogeLIer.
One oI LIe muIn reusons h-
nuncIuI pIuns ure oILen cruILed
uIone Is due Lo LIe wuy hnuncIuI
udvIsors work. TIey oILen vIsIL
cIIenLs durIng busIness Iours
und meeL LIem uL LIeIr pIuce oI
empIoymenL. TIIs seems pruc-
LIcuI enougI, und In LIe eurIy
stages of information gather-
ing it is probably ok to relay
LIe InIo buck Lo your spouse.
WIen IL comes LIme Lo hnuI-
ise things it is better to make
an appointment at the home
or Iuve u dInner somewIere.
MosL hnuncIuI udvIsors Iope
Lo uvoId LIIs us LIey worrIed u
second person wILI u wIoIe new
seL oI objecLIons couId sLund In
LIe wuy beLween LIem und geL-
LIng LIe busIness LIey ure uILer.
This is their problem though,
noL yours. Remember LIuL LIey
work Ior you, or LIey sIouId be
unywuys.
TIe rIsk LukIng uspecLs oI h-
nuncIuI pIunnIng ure In my
opinion the most important
purL Lo do LogeLIer. I LIere Is
u dIsugreemenL, my udvIce Is
uIwuys Lo err on LIe sIde oI LIe
more conservuLIve purLners. An
LoId you so evenL Is mucI Iess
detrimental to your relation-
sIIp In un InsLunce oI mIssed
opportunity than it is for one
oI un oversIzed Ioss. RegurdIess
oI wIuL Iuppens In LIe IuLure,
II you Iuve dIscussed uII oI LIe
potentialities together then
Iowever LIe pIun goes IL sIouId
noL Iuve u neguLIve eecL on LIe
reIuLIonsIIp. I IL goes greuL, IL
wIII be one more soIId bIock In
the foundation of your lives to-
geLIer.
David Mayes MBA provides
wealth management servic-
es to expatriates throughout Most coupIes share in aII of the major decisions of their Iives together, and nances shouId be no different.
AbouL q6,18o ucres oI
Iurdwood pIunLuLIon wus
creuLed LIrougI sLuLe-
private partnerships in
LIe IusL Lwo yeurs, wIIIe
18 prIvuLe compunIes pIun
Lo creuLe unoLIer 1,ooo
ucres oI pIunLuLIon In LIe
nexL Iour yeurs.
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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.
June 12-18, 2014
Myanmar Business Today
mmbiztoday.com
INVESTMENT & FINANCE
20
Myanmar Summary
Contd. P zz...(Fokker)
The Motivutions Ior Spending And Suving in
Myunmur {And How Tech Is Chunging Thut)
As Myanmar opens up to the outside world and will soon get 3G cellular networks, how is the use of money and savings changing? A new
report from a group that spent months studied whats happening
M
yanmar is a
counLry wILI
very Iow IormuI
banking penetration, but
cIunges ure uIooL. L wIII
soon Iuve ILs hrsL coun-
Lry-wIde G neLwork.
Other developments in-
cIude sIgnIhcunL Inwurd
InvesLmenL, LIe growLI oI
u more sLubIe, exIbIe h-
nuncIuI poIIcy, und un up-
comIng sLock excIunge,
wIIcI sIouId IurLIer
sLImuIuLe domesLIc hnun-
cIuI ucLIvILy uILer IL opens
In zo1.
n MurcI, u Leum Irom
Myanmar-based Proximity
Designs, frog and my strat-
egy consuILuncy SLudIo D
Radiodurans mapped My-
unmur`s cIungIng hnuncIuI
Iundscupe. `ve been work-
Ing In LIe hnuncIuI IncIu-
sIon spuce Ior u decude,
helping organisations un-
derstand the unique needs
oI resource-consLruIned
consumers und desIgnIng
producLs Lo meeL LIose
needs. Iounded SLudIo
D Radiodurans to help
compunIes und orgunIsu-
LIons LIuL ure specIhcuIIy
IookIng Lo connecL wILI
muss murkeL consumers
In emergIng murkeLs, sucI
us CIInu, ndIu, ndonesIu
Jan Chipchase
und BruzII.
Most of you reading this
ure sopIIsLIcuLed bunkIng
cusLomers. You expecL In-
sLunL uccess, onIIne upps,
noLIhcuLIons und unu-
IyLIcs. mugIne noL Iuv-
Ing uccess Lo uny oI LIuL.
mugIne IuvIng Lo curry
uII your weuILI on your
person, or hide it in your
Iome.
WIen peopIe LuIk ubouL
bunkIng, LIey oILen Iose
sIgIL oI ILs core vuIue
proposition: take money
ouL oI cIrcuIuLIon und
keep IL suIe Ior uccess uL u
IuLer duLe, oer uccess Lo
credIL, und provIde u wuy
Lo puy Ior LIIngs. AILer
those three features, the
benehLs oI bunkIng ure
IurgeIy IncremenLuI. BuL
IIIe wILIouL LIese LIree
LIIngs Is very LrIcky. Ru-
dimentary banking ser-
vIces (so-cuIIed hnuncIuI
IncIusIon) cun IeIp puII
peopIe ouL oI poverLy.
DurIng our reseurcI In
Myunmur, we mupped
behaviours around and
attitudes to savings, in-
vestments, loans and
LrunsucLIons. We uIso ex-
plored the duality of de-
veIopmenL, Iow LIe poor
buIunce LIeIr cuILure und
beIIeIs wILI LIe udvunce-
ment and globalisation of
Myunmur, und Iow IL Ius
ImpucLed LIeIr currenL
lives and their outlook for
LIe IuLure.
Its a journey that takes
in betel sellers, monks,
motorbikes, goats, a lot
of gold, and even the af-
LerIIIe. TIe reporL IdenLI-
hes LIIrLeen hndIngs und
LwenLy one InsIgILs, us
weII us u number oI op-
portunities for future
producLs und servIces. L
aims to provide a foun-
duLIonuI reIerence Ior
orgunIzuLIons wIsIIng
Lo deveIop producLs und
servIces Ior hnuncIuIIy
consLruIned consumers In
Myunmur.
Some oI LIe hndIngs
mup Lo wIuL Is known In
oLIer murkeLs, uIbeIL wILI
cIurucLerIsLIcs LIuL ure
unIque Lo LIe counLry. or
example, motivations for
not defaulting on a loan
vury by cuILure, person,
conLexL. n Myunmur,
if devout Buddhist bor-
rowers deIuuIL on u Ioun,
LIey pIuce u Ieuvy burden
on themselves and their
IumIIy - noL jusL In LIIs
IIIe, buL uIso In LIe nexL.
We uIso Ieurned ubouL LIe
sIgnIhcunce oI LIe novI-
LIuLIon ceremony In LIe
life of a devout Buddhist
Burmese, an event that
results in them spend-
Ing us mucI us $1,;oo uL
once, even LIougI LIey
eurn Iess LIun $1o u duy.
If youre interested in
IeurnIng more, downIoud
LIe reporL: Aord Two,
EuL One: InuncIuI ncIu-
sIon In RuruI Myunmur.
And you cun uIso down-
Ioud more LIun zoo creu-
LIve commons pIoLos und
other assets from the re-
porL.
Jun CIIpcIuse Is LIe
founder of Studio D Ra-
dIoduruns, u reseurcI,
design and innovation
consuILuncy LIuL specIuI-
otch Co Iokker Iined Ior AircruIt
Purts Sules to Myunmur, Irun
Andrea Shalal and
Krista Hughes
D
uLcI compuny okker
ServIces BV Ius ugreed
Lo puy u $1o. mIIIIon
cIvII penuILy Lo seLLIe cIurges
LIuL IL IIIeguIIy sIIpped uIrcruIL
purLs und oLIer LecInoIogy Lo
Myanmar, Iran and Sudan, US
uuLIorILIes suId.
By IIIeguIIy exporLIng uIrcruIL
spure purLs Lo desIgnuLed coun-
LrIes, (okker) ugrunLIy vIoIuL-
ed US suncLIons Iuws und LIIs
IIIIcIL ucLIvILy wIII noL be LoIeruL-
ed, suId Adum SzubIn, dIrecLor
oI LIe US Treusury`s Omce oI
oreIgn AsseLs ConLroI (OAC).
TIe ucLIon IoIIowed un Inves-
LIguLIon by OAC und oLIer Ied-
eruI ugencIes, LIe Treusury De-
purLmenL suId In u sLuLemenL.
TIe counLrIes ure subjecL Lo
US suncLIons. TIe Commerce
Departments Bureau of Indus-
Lry und SecurILy Iud cIurged
okker wILI z breucIes oI
rules on the export of goods
conLroIIed Ior nuLIonuI securILy,
mIssIIe LecInoIogy und unLI-Ler-
rorIsm purposes.
TIe compuny wouId IorIeIL un
exLru $1o. mIIIIon under u de-
Ierred prosecuLIon ugreemenL
wILI LIe US DepurLmenL oI
JusLIce, LIe Commerce DepurL-
menL suId.
AccordIng Lo courL documenLs,
beLween zoo und zo1o okker
exporLed und re-exporLed uIrcruIL
purLs, LecInoIogy, und servIces Lo
cusLomers IocuLed In Myunmur,
run und Sudun.
okker ServIces knowIngIy
und wIIIuIIy enguged In LIIs
crImInuI conducL, IuIIy uwure
oI LIe uppIIcuLIon oI US exporL
Iuws, un Issue wIIcI wus re-
peuLedIy ruIsed InLernuIIy wILI
LIe compuny`s munugemenL,
LIe JusLIce DepurLmenL suId.
ExumpIes oI LIe workurounds
used by Fokker and its employ-
ees IncIuded deIIberuLeIy wILI-
IoIdIng uIrcruIL LuII numbers
to US-based repair shops, pro-
viding false tail numbers to US
und UK compunIes und repuIr
shops, and stating that the parts
submitted for repair by US-re-
puIr sIops were Lo be used us
sLock purLs.
okker LreuLed US exporL
Iuws us InconvenIences Lo be
'worked uround` LIrougI de-
ceIL und LrIckery, suId RonuId
MucIen, US uLLorney Ior LIe
DIsLrIcL oI CoIumbIu.
okker ServIces In June zo1o
mude u dIscIosure oI poLenLIuI
vIoIuLIons, In wIIcI LIe compu-
ny ucknowIedged und uccepLed
responsIbIIILy Ior ILs unIuwIuI
conducL.
TIe compuny enguged u Iuw
hrm Lo udvIse on ILs exporL con-
trol requirements, and thats
wIen LIe vIoIuLIons were dIs-
covered und dIscIosed Lo US uu-
LIorILIes, u okker spokesmun
suId.
The employees involved in the
LrunsucLIons Iud been subjecL Lo
dIscIpIInury proceedIngs, Ie suId,
wILIouL provIdIng IurLIer deLuIIs.
okker ServIces muInLuIns LIe
eeL oI uIrcruIL mude by okker,
LIe sLorIed DuLcI munuIucLurer
oI mIIILury uIrcruIL und cIvIIIun
uIrIIners LIuL wenL bunkrupL In
1qq6.
Among LIe IIIeguI LrunsucLIons
cILed by LIe UnILed SLuLes were
qq InvoIvIng run AIr, wIIcI uc-
cordIng Lo LIe onIIne duLubuse
www.uIreeLs.neL, Ius 1; uc-
Ises In emergIng murkeLs.
HIs hrsL book, HIdden In
PIuIn SIgIL: How Lo Cre-
ate Extraordinary Prod-
ucLs Ior Tomorrow`s Cus-
Lomers, wus pubIIsIed
by Hurper BusIness In
AprII zo1.
The upcoming new cellular networks will change the way Myanmar people save and spend.
D
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._~:. ~ .~ .~: ._ ..~:
...~~.:.~.|~~ ~_.:.
~ .~~. .:.._ ._ .q .,._ .
.~ .~~ . _., .:. ~._.
.~ Proximity Designs .
,_.-e:~_~... Studio D
Radiodurans ~ ~.,_e _., .:
.- .._~.~_._.:...
.:.~:. ......._~._. ..
~.,_e _:.q.,e.e~
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~. .|. ~. . ~ . :.~~ ~
~~,.:.~:. .~.._..~
....:....._.
June 12-18, 2014
Myanmar Business Today
mmbiztoday.com
INVESTMENT & FINANCE
21
Myanmar Summary
Brund LSA's Opportonity in Myunmur
US frms have an opportunity to undertake some consequential commercial diplomacy
L
usL week, US SecreLury oI
Commerce Penny PrILz-
ker led a delegation of
AmerIcun CEOs Lo Myunmur
- u counLry wIose openIng
remuIns hIIed wILI perII und
promIse. EscuIuLIng vIoIence
Ius cuused more LIun u LIou-
sund deuLIs; LIe desLrucLIon oI
more than ten thousand homes,
mosques, und scIooIs; und LIe
dIspIucemenL oI neurIy zo,ooo
peopIe In LIe pusL Lwo yeurs. YeL
from negotiations to end multi-
pIe cIvII wurs Lo economIc und
legal reforms, there is hope that
one oI AsIu`s pooresL counLrIes
- wIere one In Iour peopIe IIve
beIow LIe poverLy IIne - cun be
sLubIIIsed und upIIILed.
One key enubIer wIII be Ior-
eIgn InvesLmenL, wIIcI IIL $q.1
bIIIIon In LIe zo1-1q hnun-
cIuI yeur, creuLIng more LIun
o,ooo jobs. As AmerIcun com-
panies begin to invest in Myan-
mar, they have the unique op-
porLunILy Lo noL onIy udvunce
Myanmars development but
uIso US commercIuI und sLruLe-
gIc InLeresLs und vuIues. TIeIr
compeLILIveness, Iowever, wIII
depend in part on abiding by
the letter and spirit of human
rights reporting requirements
mandated by the US govern-
menL.
n zo1z, LIe Obumu udmIn-
istration eased long-standing
suncLIons on Myunmur uILer ILs
government undertook a series
oI poIILIcuI reIorms, IncIudIng
LIe reIeuse oI NobeI uureuLe
und opposILIon Ieuder, Aung
Sun Suu KyI. New US InvesL-
menL In Myunmur wus uuLIor-
Ized subjecL Lo compIIunce wILI
Ziad Haider u seL oI reporLIng requIremenLs
on responsible investment in
Myunmur. TIose reporLIng
requirements state that US per-
sons wIose InvesLmenL In My-
unmur exceeds $oo,ooo musL
submit an annual report to
the US State Department that,
umong oLIer eIemenLs, IncIudes
un overvIew oI operuLIons; Iu-
man rights and environmental
poIIcIes; procedures Ior prop-
erLy ucquIsILIon; und securILy
provIder urrungemenLs.
These reporting requirements
muLLer.
First, meaningfully satisfying
LIem Increuses US compeLILIve-
ness. n recenL yeurs, CIInese
hrms Iuve been Ieuvy-Iunded
In execuLIng projecLs In Myun-
mur, wIIcI Iuve generuLed u Io-
cuI buckIusI (und even crILIcIsm
In LIe CIInese medIu). TIIs Ius
runged Irom u pubIIc ouLcry
over LIe envIronmenLuI ImpucL
oI LIe MyILsone Dum projecL,
IorcIng LIe Myunmur govern-
menL Lo suspend IL In zo11, Lo
IocuI vIIIugers kIdnuppIng Lwo
CIInese workers IusL monLI uI-
Ler beIng dIspIuced by u copper
mIne projecL. As u resuIL, Myun-
mur omcIuIs Iuve expressed un
InLeresL In US hrms LukIng LIe
Ieud on cerLuIn Iurge-scuIe pro-
jecLs, sucI us Iydropower. I LIe
US IooLprInL Is sImIIur Lo CII-
nu`s, LIIs wIndow oI goodwIII
wIII cIose und IocuI opposILIon
wIII drIve up busIness cosLs.
Second, LIe reporLIng requIre-
menLs IoId US hrms Lo un Im-
portant normative standard in
light of Myanmars history of
human rights abuses under a
bruLuI junLu und LIe cIequered
record oI US hrms In Myun-
mur In LIe exLrucLIve IndusLry.
CompIIunce LIus combInes u
commercIuI opporLunILy Ior US
hrms wILI u sLruLegIc one Ior
WusIIngLon Lo reorIenL Myun-
mur uwuy Irom BeIjIng wIIIe
upIoIdIng Iumun rIgILs vuIues.
Yet despite their upside, the
reporting requirements have
IeIL US hrms underwIeImed.
Some Iuve expressed concern
ubouL LIe scruLIny sLemmIng
Irom hIIng u reporL. TIese con-
cerns ure somewIuL oversLuLed.
WIIIe LIe reporL Is mude pub-
IIc, sensILIve InIormuLIon cun be
submitted in a separate private
reporL, sucI us deuIIngs wILI
LIe urmy. PubIIc scruLIny Is uIso
necessury Ior LIe requIremenLs
Lo Iuve LeeLI, gIven LIe Iuck oI
penuILIes. MosL hrms, Iowever,
ure undersLundubIy Loo preoc-
cupIed wILI nuvIguLIng core op-
eruLIonuI Issues sucI us corrup-
LIon und LIe Iuck oI eIecLrIcILy
Lo vIew hIIng LIe reporL us uny-
LIIng more LIun u bureuucruLIc
box Lo LIck.
How LIen Lo reup LIe poLen-
tial of these reporting require-
ments?
IrsL, more hrms sIouId be
requIred Lo hIe reporLs. To duLe,
only eight reports have been
hIed. TIIs Is purLIy due Lo zo1
IuvIng been LIe hrsL yeur oI hI-
Ing, yeL muny hrms ure enLerIng
Myanmar through third-party
distributors and reasonably
interpret the requirements as
InuppIIcubIe Lo LIem. TIe SLuLe
Department should issue guid-
unce, In consuILuLIon wILI LIe
prIvuLe secLor, LIuL hrms op-
erating through third parties
ubove cerLuIn LIresIoIds musL
hIe u reporL und IdenLIIy LIeIr
dIsLrIbuLors.
Second, gIven LIe spurse nu-
ture of some of the reports to
duLe, IurLIer dIscIosure und
engugemenL Is necessury. TIe
State Department should bor-
row Irom LIe prucLIce oI u
reguIuLory body In LIe US Gov-
ernmenL, LIe CommILLee on
Foreign Investment in the US
(CUS). n revIewIng Inbound
InvesLmenL on nuLIonuI securILy
grounds, CUS encouruges LIe
ucquIrIng IoreIgn compuny Lo
hIe u druIL noLIce oI LIe Lrunsuc-
LIon In udvunce oI LIe hnuI no-
LIce so us Lo IdenLIIy ureus wIere
IurLIer InIormuLIon Is requIred.
The requirements should simi-
IurIy IncorporuLe pre-hIIng con-
suILuLIons und Ieedbuck Lo en-
able a meaningful dialogue and
ensure sumcIenL deLuII.
AddILIonuI sLeps cun uIso IeIp
IosLer u wIder cuILure oI compII-
unce. US hrms enLerIng Myun-
mur oILen Iook Lo purLner wILI
IocuI hrms, some oI wIIcI ure
sLuLe-owned enLILIes subjecL Lo
US suncLIons. ConLInued poIIcy
guIdunce cun IeIp cIurIIy wIuL
steps these entities need to take
Lo be removed Irom LIe sunc-
LIons IIsL, InducIng good con-
ducL und IruILIuI purLnersIIps.
To ensure u IeveI pIuyIng heId
Ior US hrms, non-US InvesLors
sIouId be encouruged Lo em-
bruce Iumun rIgILs sLundurds
uround wIIcI InLernuLIonuI
norms ure couIescIng, sucI us
LIe UN GuIdIng PrIncIpIes on
BusIness und Humun RIgILs.
US-CIInu omcIuI dIscussIons,
prIvuLe secLor engugemenLs,
und Truck dIuIogues sIouId
uIso dIscuss und excIunge besL
prucLIces.
AddressIng LIe unnuuI con-
cIuve oI US Ambussudors In
MurcI, US SecreLury oI SLuLe
JoIn Kerry cILed LIe Impor-
Lunce oI commercIuI dIpIomucy:
cIumpIonIng US hrms ubroud
und creuLIng jobs uL Iome. YeL
LIe besL Ambussudors Ior Brund
USA cun oILen be US hrms
LIemseIves. A rure LrIIecLu ex-
ists in Myanmar for the US to be
commercIuIIy und sLruLegIcuIIy
compeLILIve und vuIues drIven.
CupILuIIsIng on IL requIres US
hrms Lo vIew compIIunce wILI
the reporting requirements as
un opporLunILy Lo conducL proI-
ILubIe und consequenLIuI com-
mercIuI dIpIomucy.
WIII LIey seIze IL?
Ziad Haider is an attorney
and Asia Director of the Truman
National Security Project. He
served as a White House Fellow
in the US Department of Justice
working on international rule of
lcu issues. The crticle ucs jrst
published in the Diplomat.

Myanmar officials have ex-

pressed an interest in US firms
taking the lead on certain large-
scale projects, such as hydro-
power. If the US footprint is similar to
Chinas, this window of goodwill will
close and local opposition will drive up
business costs.
An employee monitors operations at the Coca-Cola Co. bottling plant in Hmawbi. As American companies begin to invest in
Myanmar, they have the unique opportunity to not only advance Myanmars development but also US commercial and strate-
gic interests and values.
D
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P
ig
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B
lo
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b
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e.~.~~ US Secretary of
Commerce Penny Pritzker ...:
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June 12-18, 2014
Myanmar Business Today
mmbiztoday.com
INVESTMENT & FINANCE
22
Myanmar Summary
Myanmar Summary
'Civic Creutives' Ixplore Likely
rivers oI Ongoing Chunge in Myunmur
I
n u serIes oI 1 worksIops
IeId recenLIy uround boLI
urban and rural areas of
Myunmur, more LIun 6o pur-
LIcIpunLs Irom dIverse secLors
IncIudIng governmenL, busI-
ness, cIvII socIeLy, educuLIon,
religious groups, media and
LIe urLs cume LogeLIer Lo Iden-
LIIy drIvers oI cIunge LIuL LIey
beIIeve wIII sIupe LIe rupIdIy
LrunsIormIng counLry LIrougI
LIe yeur zoz.
TIe zo1q versIon oI LIe unnu-
uI Myunmur uLures ExcIunge
worksIops, un InILIuLIve oI LIe
HonoIuIu-bused EusL-WesL
CenLer, InvoIved u process oI
wIuL LIe orgunIsers Lerm cIv-
Ic creuLIvILy, brIngIng peopIe
Irom dIerenL buckgrounds,
uges und wuIks oI IIIe LogeLIer
Lo enguge In scenurIo-buIIdIng
ucLIvILIes und Ieurn empower-
ment tools to help turn their
preIerred IuLures Ior LIe coun-
Lry InLo reuIILy.
WIuL we wunLed Lo do Is geL
peopIe LuIkIng ubouL wIuL LIe
future might be like, and thats
reuIIy u brund-new conversu-
LIon In Myunmur, suId ScoLL
Muceod, dIrecLor oI Ieuder-
sIIp progrums uL LIe EusL-WesL
CenLer.
And LIen uIso Lo geL peopIe Lo
pIun, Lo come up wILI u sLruc-
Lure oI wIuL LIe IuLure mIgIL
IoId.
n scenurIo-buIIdIng work-
shops held in Yangon, Shan
state, Mandalay division, Kayin
sLuLe und Mon sLuLe, LIe purLIcI-
punLs, or cIvIc creuLIves, Iden-
LIhed 1o key drIvers oI cIunge
LIuL u hnuI InvILuLIonuI sympo-
sium then distilled into three
Iocus ureus LIuL LIe group us u
wIoIe suw us beIng boLI mosL
ImporLunL und mosL ucLIonubIe:
1) uccess Lo quuIILy educuLIon,
z) responsIve governunce, und
) hnuncIuI sysLem reIorm.
TIere wus u puIpubIe sense oI
hope for the future in the room
becuuse LIe young enLrepre-
neurs, socIuI ucLIvIsLs, govern-
menL omcIuIs, proIessIonuIs,
LeucIers und sLudenLs wIo be-
cume un InLegruI purL oI ME
zo1q were noL uIruId Lo Iuce LIe
cIuIIenges, und wIIIe doIng so
suw LIe opporLunILIes wILIIn
LIem, bIogged Indseu WIIbur,
u reseurcI umIIuLe wILI LIe n-
sLILuLe Ior LIe uLure.
TIere wus recognILIon oI LIe
sLeudy ow oI LIme wIIcI unILes
us us u specIes - und LIose mo-
menLs In IIsLory wIen we ure
cuIIed upon Lo ucL.
TIere were uIso some rev-
eIuLIons ubouL Iow dIerenL
Aye Myat

The challenge with all this is

that sometimes we look too
far in the future, so at the end
of the process what we really
needed to do was bring people back
down to earth and say, actually, what
are you going to do this week?
groups envIsIon LIe IuLure, wILI
dIsLIncLIy dIerenL percepLIons
oI LIe process oI cIunge bused
on IocuLIon und generuLIon. n
generuI, purLIcIpunLs In more
ruruI ureus dId noL see LIe cur-
rent developments as holding
LIe IeveI oI IundumenLuI cIunge
us dId purLIcIpunLs In mujor ur-
bun cenLres sucI us Yungon or
MunduIuy. n uddILIon, younger
purLIcIpunLs Lended Lo see boLI
more conLInuILy und more op-
portunities in the years ahead
LIun oIder purLIcIpunLs, wIo
Lended Lo see rudIcuI cIunges
und cIuIIenges.
However, ucross uII groups oI
purLIcIpunLs, LIere wus u no-
LubIe desIre Lo see Lop-down
cIunges In LIe mIndseL oI
government, industry and
oLIer secLors Lo vuIIduLe und
provIde spuce Ior LIe ucLIvI-
LIes oI IndIvIduuI 'cIvIc creu-
LIves.`
PurLIcIpunLs were uIso en-
couruged Lo dIscuss so-cuIIed
'bIuck eIepIunLs,` wIIcI Mu-
ceod descrIbed us LIe LIIngs
everybody knows wIII sIupe
the future of Myanmar, but
nobody wunLs Lo LuIk ubouL,
sucI us LIe counLry`s evenLuuI
poIILIcuI IuLure beyond LIe IIIe
oI Aung Sun Suu KyI, ongoIng
eLInIc conIcLs, sLrong InLer-
generuLIonuI dIerences und
u Iuck oI subsLunLIve cIunge
ouLsIde oI muIn urbun cen-
Lres.
But just as valuable as the
symposIum ouLcome, LIe or-
ganisers said, is the applied
IeurnIng und cupucILy-buIId-
ing built into the Futures
ExcIunge dIuIogue process
ILseII, und cIuIIengIng LIe
purLIcIpunLs Lo puL LIuL expe-
rIence InLo ucLIon.
TIe cIuIIenge wILI uII LIIs
Is LIuL someLImes we Iook Loo
far in the future, so at the end
oI LIe process wIuL we reuIIy
needed Lo do wus brIng peo-
pIe buck down Lo eurLI und
suy, ucLuuIIy, 'wIuL ure you
goIng Lo do LIIs week? suId
Muceod.
You need Lo know wIuL LIe
vIsIon Is und wIere you`re
goIng, buL wIuL cun you do
rIgIL now Lo eecL some smuII
cIunge In LIuL dIrecLIon?
The Myanmar Futures Ex-
cIunge wus
developed by
LIe EusL-WesL
CenLer In con-
juncLIon wILI
M y a n m a r -
based partners
IncIudIng LIe
Union of Myan-
mar Ministry of
NuLIonuI PIun-
nIng und Eco-
nomIc DeveIop-
ment, United
States Embas-
sy, Pyoe PIn, BrILIsI CouncII,
Myunmur BusIness CouIILIon
on ADS, Myunmur BusIness
ExecuLIves AssocIuLIon, SocIo-
lite Foundation, Myanmar
Egress, Proximity Designs, and
Mungo MedIu. AddILIonuI re-
seurcI supporL wus provIded by
LIe HuwuI`I ReseurcI CenLer Ior
uLures SLudIes.
AcLIvILIes Ior LIe zo1 ME
are already in the preliminary
sLuges, IncIudIng pIunnIng Ior
u serIes oI mInIsLry-IeveI work-
sIops In LIe nuLIonuI cupILuI,
Nuy PyI Tuw.
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.:.~:. . .e: ..: q ~ . ._ e
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e . . . ~._.. ~ East-West Center
. ~.~_.~: ~...._ ~~,
Myanmar Futures Exchange ...~
._ .. ... .. ~ .~ _ ._ .,:~ .
~.~ ~q e . ~~._.. .~ _ . .:.
~.,_e .~_..:~.q...,.
.:.~ ~~ ~~ . . ..: _. . , .~
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. q, . . . . .:.~:. .. .:_. ..:.
_...._ civic creativity ~:.
.|~ . .e: . . . , .. ._ . .|~ ._ .
Myanmar Futures Exchange ~:.
East-West Center . _., .:. ~._.
.~~...:...~,.....:..q.e_e.
~ .~~ .q.~, _~ ._:, ~..q ~, . , .
... _-~..~:. Myanmar
Business Coalition on AIDS _.,.:
. .. :..q.~. . ~. ..: . :.~e
Socio-lite Foundation, Myanmar
Egress, Proximity Designs .
Mango Media~ . . ...| .. . ..:
.~ q ._ .. ~ .. .~.,~.:~
~. .:.~:. Hawaii Research Center
for Futures Studies . .......__e.
._.
~~ MFE ~~~ ....:.
.:.~:. ~._.....:.~q.,_.
_e._.. .-_..~: .,_._.~:~
~..._ ~,_~..:.~. ~..,
..... .. .:.._. .|~ ._~:.. q._ .
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.e: ~:~ . ~ ._ ~..q ~, . ~ . .. :..q.. ~ . :.._..:...e:
~:..e: .:.. ~. ~ ~. ..:.~ ~q:..~ ~ . . _. .~~ ~~~ . ..e:~ .
,. q ._ e . q._ .~..q ~, ~q:., ...~...:.~q .e:~:~.~ ._
~..q~,.-...:..q..~._... :.q..:_., .: . ., . ~ q, . .:.
...e:.:..q: .._. .._~: e.~..~,~.q_.._e.._.
LIve okker LwIn-engIned jeLIIners In ILs eeL, duLIng Lo LIe eurIy
1qqos, beIore Europe uppIIed suncLIons Lo uIrcruIL purcIuses.
Reuters
From page zo...(Fokker)
June 12-18, 2014
Myanmar Business Today
mmbiztoday.com
PROPERTY & REAL ESTATE
23
Myanmar Summary
Contd. P z...(IFC)
Contd. P z...(IFC)
IIC Lnder Iire Ior Myunmur Hotel, Reul Istute Projects
Tree out of the fve projects in Myanmar involve the construction of upscale hotels, and the most recently proposed project will excuse its client, Yoma Bank, from
implementing basic due diligence and safeguards, USCB says
Kyaw Min
N
ew InvesLmenL
projecLs In My-
anmar from the
WorId Bunk`s prIvuLe
secLor InvesLmenL urm,
nLernuLIonuI Inunce
CorporuLIon (C), muy
exucerbuLe economIc In-
equality rather than ease
poverty in the Southeast
AsIun counLry, u cum-
puIgn group suId.
TIe US CumpuIgn Ior
Burmu (USCB), u rIgILs
group bused In WusIIng-
Lon, urged C Lo ensure
LIuL C InvesLmenLs In
Myunmur ure orIenLed
Lowurd poverLy uIIevIu-
LIon, und Lo prIorILIse
safeguards and transpar-
ency und cuIIed on LIe
funder to stop these pro-
jecLs und unuIyse LIeIr po-
LenLIuI socIuI eecLs.
TIe C Ius LIe respon-
sIbIIILy Lo use ILs hnun-
cIuI Inuence Lo promoLe
Lrunspurency und reIorm
In Burmu`s corrupL busI-
ness envIronmenL, suId
USCB PoIIcy DIrecLor Ru-
cIeI WugIey.
RegreLLubIy, LIe C`s
recenL InvesLmenL pro-
posals seem to mark a
devIuLIon Irom LIe C`s
eurIIer objecLIve Lo boI-
sLer LIe growLI oI mI-
crohnunce In Burmu und
muy InsLeud exucerbuLe
socIoeconomIc InequuIILy
In LIe counLry.
n zo1z, LIe US Con-
gress rescInded sunc-
tions prohibiting US in-
vestment in Myanmar to
signal its support for the
counLry`s semI-cIvIIIun
governmenL, wIIcI wus
sIowIy pIunLIng reIorms
uILer decudes under mIII-
Lury ruIe.
TIuL sume yeur, C
opened ILs omce In Myun-
mar and began to assess
LIe counLry`s InvesLmenL
und busIness cIImuLe.
GIven LIuL over o per-
cenL oI LIe popuIuLIon
IIves beIow LIe poverLy
IIne, C omcIuIs decIded
LIuL LIe counLry omce`s
gouI wouId be poverLy uI-
leviation, and eventually
proposed hve InvesLmenL
projecLs uImed uL ucIIev-
Ing LIIs gouI.
TIree ouL oI LIe C`s
hve projecLs In Myunmur
InvoIve LIe consLrucLIon
oI upscuIe IoLeIs, und LIe
mosL recenLIy proposed
C projecL wIII excuse
LIe Burmese cIIenL, Yomu
Bank, from implementing
busIc due dIIIgence und
suIeguurds, LIe USCB suId.
or one oI LIe projecLs,
wIIcI wouId deveIop Iour
IoLeIs, LIe C`s expecLed
deveIopmenL ImpucL Is
Lo creuLe q; dIrecL und
IndIrecL jobs (q6 percenL
IemuIe) . und creuLe de-
mund Ior IocuIIy-sourced
muLerIuIs, servIces, und
Iubour. n uddILIon, LIe
projecL wouId conLrIbuLe
Lo LIe domesLIc econo-
mIes LIrougI Increused
tax revenue and foreign
excIunge Inows.
The goal of another pro-
jecL, Lo buIId u busIness
compIex und more IoLeIs,
Is Lo InsLuII wIuL LIe C
cuIIs crILIcuI busIness In-
IrusLrucLure.
TIe ProjecL wIII udd
mucI needed suppIy oI
international standard of-
hce, reLuII und IospILuIILy
InIrusLrucLure Lo Yungon,
u projecL documenL sLuLes.
nLernuLIonuI sLundurd
busIness InIrusLrucLure
sucI us LIese ure oI crILI-
cuI ImporLunce In uLLrucL-
ing foreign investments in
LIe counLry.
USCB urged LIe C
Board to postpone ap-
proval of the Yoma Equity
projecL unLII LIe C ud-
dresses concerns ubouL
Yomu Bunk und re-cuLe-
gorIses InvesLmenL rIsks.
TIe C Is currenLIy cuL-
egorising its proposed
$o mIIIIon InvesLmenL
in Yoma Banks Small
and Medium Enterprise
(SME) hnuncIng progrum
us InuncIuI nLermedI-
ury () IendIng.
TIIs cuLegorIsuLIon
excuses Yomu Bunk Irom
ubIdIng by LIe C`s Per-
Iormunce SLundurds, con-
ducLIng envIronmenLuI
or socIuI ImpucL ussess-
menLs, perIormIng con-
suILuLIons, und dIscIosIng
ILs sub-cIIenLsJsub-pro-
jecLs. TIe USCB suId LIIs
ruIses serIous uccounL-
ubIIILy concerns, purLIcu-
IurIy becuuse US omcIuIs
recommended Yomu
Bunk`s owner, Serge Pun,
Ior suncLIons In zoo8.
TIe C Is currenLIy
under hre Ior upprovIng
billions of dollars of FI
lending that have led to
Iund conhscuLIon, ussussI-
nuLIons, Iorced evIcLIons,
and other human rights
ubuses uround LIe worId,
resulting in a ground-
breaking internal audit in
zo1.
NoLorIous projecLs
IncIude u LIermuI power
projecL In OdIsIu, ndIu
and an agribusiness pro-
jecL In Hondurus wILI DI-
nunL Corp, boLI oI wIIcI
resuILed In Iund conhs-
cuLIon, LIe exucerbuLIon
of poverty in rural areas,
and harassment of lo-
cuI peopIes, umong muny
oLIer gruve concerns. n
response, LIe C Ius ud-
mitted to missteps around
DInunL.
FI lending is the least
regulated lending in-
sLrumenL oI LIe C und
mukes up over o per-
cenL oI LIe C`s porLIoIIo,
USCB suId.
As LIe C enguges
wILI Myunmur`s prIvuLe
secLor, und wILI IndIvIdu-
uIs IIke Serge Pun wIo
have deep government
connecLIons, IL musL be
doubIy cureIuI Lo ensure
that all potentially harm-
IuI projecLs LrIgger LIe
due dIIIgence und suIe-
guards requirements of
LIe C, IL suId.
OLIer C projecLs In
Myanmar are also rais-
Ing ugs, LIe cumpuIgn
group suId. TIe C pro-
jecL undmurk Myunmur
uIms Lo provIde u $; mII-
IIon hnuncIng puckuge Lo
Yomu SLruLegIc HoIdIngs
Ltd and First Myanmar
nvesLmenL Co, Ld Ior
un upscuIe consLrucLIon
projecL In Yungon. Serge
Pun conLroIs boLI oI LIese
compunIes, meunIng LIuL
Lwo oI LIe C`s hve pro-
jecLs In Myunmur con-
LrucL wILI Serge Pun.
Yomu SLruLegIc HoId-
Ings Ld Is u powerIuI
ucLor In Myunmur`s IIgI-
rIsk pIunLuLIon ugrIcuI-
Lure und reuI esLuLe sec-
Lors, wIIcI ure rIIe wILI
human rights abuses,
IncIudIng envIronmenLuI
desLrucLIon, Iorced dIs-
pIucemenL, Iund conhscu-
LIon, poIILIcuI deLenLIons
und Iubour ubuses, uc-
cordIng Lo LIe USCB. US
omcIuIs specIhcuIIy cuIIed
Ior suncLIons uguInsL
Yomu SLruLegIc HoIdIngs
Ld In zoo8 Ior ILs sub-
sLunLIuI economIc und
poIILIcuI supporL Ior LIe
military regime through
LIe consLrucLIonJInIru-
sLrucLure secLor.
TIe C`s IendIng pro-
posals are raising serious
questions regarding the
C`s mIssIon Lo uIIevIuLe
poverLy In Burmu, suId
PoIIcy DIrecLor RucIeI
WugIey.
UpscuIe IoLeI con-
~.:~.~.~:~q.
~~:_:.q..~: . .q.q .
(IFC).__.,.:,~..
q . .~. ..: ..q.~~ ~ . .
~ , .~.. .:...: q ~ q, . .
.,._e.q._.
~|q~,~._..~.~.~
.q.~e_e.._ USCB) ~
(IFC) ~:._.,.:.~q...
_. . . ._ . . , ..:.~ . .. :.
.q.._...:.._e...q,.~

Regrettably, the IFCs recent in-

vestment proposals seem to mark
a deviation from the IFCs earlier
objective to bolster the growth of
microfinance in Burma and may instead
exacerbate socioeconomic inequality in
the country.
Three out of the IFC`s ve projects in Myanmar invoIve the construction of upscaIe hoteIs, and the most recentIy proposed IFC project wiII
excuse the Burmese client, Yoma Bank, from implementing basic due diligence and safeguards, the USCB said.
W
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K
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June 12-18, 2014
Myanmar Business Today
mmbiztoday.com
24
From page z...(IFC)
From page z...(IFC)
PROPERTY & REAL ESTATE
sLrucLIon und sIgnIng muILIpIe
InvesLmenLs wILI one IndI-
vIduuI, Serge Pun, ure pecuIIur
wuys Lo empower ImpoverIsIed
peopIe In u counLry wIere over
one-fourth of the population
lives under the national poverty
IIne.
TIe poLenLIuI brouder ImpucL
oI LIe C`s projecLs Is uIso un-
der scruLIny. TIe mujorILy oI
Myanmar live in rural areas,
uILer uII, und ugrIcuILure Is LIe
IIveIIIood oI up Lo ;o percenL
oI LIe popuIuLIon, uccordIng Lo
OxIum.
YeL mosL oI LIe C`s projecLs
ure IocusIng on urbun ureus. Ex-
perLs suy LIIs Is sImpIy conLInu-
ing a broader trend being seen
In Myunmur sInce ILs economy
begun Lo open up.
A sIgnIhcunL IucLor conLrIb-
uting to the urban versus rural
Income InequuIILy Is LIuL LIe
vast majority of investment in
Burmu Is concenLruLed In LIe
urbun secLor, despILe LIe IucL
that only one-third of the popu-
IuLIon IIves In LIese ureus, Den-
nIs McCornuc, oI oyoIu UnI-
versILy, sLuLed In u recenL essuy.
....~_.. (IFC) -q_qe .~_e.
._ . .q . .~. ..: ..q.. . ~ , .
~:.~~...:.:....:q,~~
~,.. ._.
(USCB) -.|q~~: Rachel
Wagley~~~~e.-_., .:. ~
q .. ._. . . ._ _:.q.. q:~ . q.
.:.~ . . ._. .:. q ..q, .~
...._...~~..:_.,.:.~ _~
.~ .,q._ ~~ . ~.:.. ..~ .q :
_~ q, ._.:_~:..._.
Hyutt to Munuge Melco
Philippines' City oI reums Hotel
C
IIcugo-bused HyuLL HoLeIs Corp Ius sIgned un ugreemenL
Lo munuge MeIco Crown (PIIIIppInes) ResorLs Corp`s CILy
oI Dreums IoLeI In MunIIu`s newesL gumIng Iub, LIe Lwo
hrms suId on Tuesduy.
TIe Lwo groups dId noL dIscIose uny hnuncIuI deLuIIs oI LIe
ugreemenL.
TIe LwIn-Lower IoLeI Lo be brunded HyuLL CILy oI Dreums Mu-
nIIu Iorms purL oI LIe $1. bIIIIon InLegruLed cusIno resorL LIuL
MeIco Crown EnLerLuInmenL Ld wIII open LIIs yeur In EnLer-
LuInmenL CILy, MunIIu`s versIon oI us Vegus gumIng sLrIp.
L Is MeIco`s hrsL cusIno venLure ouLsIde oI Mucuu, seekIng Lo
oer weuILIy CIInese punLers und oLIer AsIun IIgI roIIers un
uILernuLIve gumbIIng desLInuLIon.
HyuLL CILy oI Dreums wIII IeuLure 6 rooms und provIde uc-
cess Lo LIree enLerLuInmenL venues In LIe cusIno compIex, HyuLL
und MeIco PIIIIppInes suId In joInL sLuLemenL hIed wILI MunIIu`s
sLock excIunge.
usL yeur MeIco CIIeI ExecuLIve uwrence Ho suId IIs group
wus pIunnIng Lo buIId LIree IoLeIs In CILy oI Dreums MunIIu,
IncIudIng u z6o-room premIum IoLeI under LIe Crown Towers
cIuIn owned by Ho`s purLner In MeIco, AusLruIIun bIIIIonuIre
Jumes Pucker.
n Junuury, MeIco unnounced Iuxury bouLIque IoLeI cIuIn
Nobu wIII seL up ILs hrsL AsIu IoLeI In CILy oI Dreums MunIIu
IeuLurIng LIe IurgesL nIgILcIub In LIe cILy und u HoIIywood-sLyIe
LIeme purk.
CILy oI Dreums MunIIu wIII compeLe wILI LIe $1.z bIIIIon
SoIuIre ResorL & CusIno oI BIoomberry ResorLs Corp, owned by
LIe PIIIIppInes` IourLI-rIcIesL person, EnrIque Ruzon.
SoIuIre Is LIe hrsL Lo open umong Iour cusIno resorLs IIcensed
Lo operuLe In EnLerLuInmenL CILy In LIe MunIIu Buy ureu. TIe
oLIer Lwo IIcensees ure TruveIIers nLernuLIonuI HoLeI Group
nc, u venLure beLween GenLIng Hong Kong Ld und PIIIIppIne
congIomeruLe AIIIunce GIobuI Group nc , und UnIversuI EnLer-
LuInmenL Corp oI Jupunese bIIIIonuIre Kuzuo Okudu.
MeIco`s PIIIIppIne purLner Is BeIIe Corp, owned by LIe PIII-
IppInes` rIcIesL mun, Henry Sy Sr BeIIe unnounced IusL week u
consoIIduLIon oI ILs gumIng usseLs IncIudIng ILs sLuke In CILy oI
Dreums MunIIu under u sepuruLe IIsLed enLILy, SInopIII Corp.
Reuters
Erik dela Cruz
Myanmar Summary
Myanmar Summary
.~:~._..~ Hyatt e~e .~: . .q.q .._ e .. . . - Meclo
Crown Resorts ~..~ .|~..: City of Dream e~e~:. ...,.
q, ..:~ _ . qq . ._ e . q._ . ...: e.~...... q..._...
._ ....q...:~~....~~. ~.e:._.:._...q......
..: . ~. . .|~ ._ ~. .|e ~e ._ ~..q~,..'.: ~ ... ,
.e~,e.q_.. ~.......: ~:...~.,.._e.,q:.:..|~._
e . q._ .~. .|e ~e ~:. Hyatt e ~e ~ . . ~ e. . . ~ e . . . q,
...,._e .q._. e.e~e ._ ~.,...|. ,' .,..|~.__e.
._.
Reul Istute Tycoons Pluce Bets on
Sootheust Asiu's Retirement Homes
Wai Linn Kyaw
S
ouLIeusL AsIu`s IeudIng reuI
esLuLe gurus wIII guLIer Lo
examine the pressures and
opportunities of the regions
senior housing market at the Re-
LIremenL IvIng und SenIor Cure
SouLIeusL AsIu zo1q evenL In
KuuIu umpur Irom 1;-1q June.
SouLIeusL AsIu`s uLLrucLIveness
us u reLIremenL Iub Is growIng,
wILI MuIuysIu securIng rd pIuce
ouL oI LIe GIobuI AnnuuI ndex`s
Top 1 BesL CounLrIes Lo ReLIre In
zo1q.
JoInIng MuIuysIu on LIe IIsL
Is TIuIIund, wIo cume In 11LI.
WIIIe ndonesIu und LIe PIIIIp-
pInes ure noL IIsLed In LIe Top 1
this year, they are likely to join
MuIuysIu und TIuIIund wILI LIe
onseL oI severuI up-und-comIng
senIor IousIng projecLs.
ReLIremenL IucIIILy projecLs ure
on LIe rIse In SouLIeusL AsIu, us
LIe regIon unLIcIpuLes u rupId In-
creuse In boLI IocuI und IoreIgn
senIors over LIe nexL decude.
SouLIeusL AsIu expecLs Lo see ILs
over 6o popuIuLIon rIse Lo 18
mIIIIon by zoo, u q percenL
Ieup Irom LIe mIIIIon uged 6o
und ubove In zo1z. TIe regIon Is
under pressure to build and pro-
vide professional senior housing
und servIces Ior boLI ILs resIdenLs
and foreign retirees seeking a
beLLer cIImuLe Ior LIeIr sunseL
yeurs.
CIong Heng KIong, co-Iounder
oI ToLuI nvesLmenL Group und
reLIremenL vIIIuge GreenAcres,
LoId LIe New SLruILs TImes In
un InLervIew IusL yeur, We`ve
seen retirement villages overseas
many years ago and thought that
IL wus u good soIuLIon Lo uddress
the lifestyle needs of the retirees
Iere In MuIuysIu. TIere Is cer-
LuInIy u gup In LIe murkeLpIuce,
so we decIded IL wus LIe rIgIL
LIme Lo go uIeud wILI deveIopIng
a proper retirement village for
Malaysians so that the needs of
LIe reLIrees ure cuLered Ior.
Dr CIuu Hong Teck, DIrecLor oI
NKEA HeuILIcure, PEMANDU,
suId In LIe sume urLIcIe; TIe Im-
pendIng demogrupIIc sIIIL wIII
exucerbuLe currenL cIuIIenges
sucI us cupucILy und uccess Lo
IeuILIcure, IundIng oI Iong-Lerm
cure und LIe provIsIon oI ud-
equuLe IucIIILIes Ior LIe reLIred,
Malaysia, Thailand, Indone-
sia and the Philippines all have
several major senior housing
projecLs LIuL Iuve IuuncIed or
ure due over LIe nexL yeur. or u
IuII Iree reporL on projecLs Irom
uround LIe regIon, downIoud our
e-books Iere. To enguge hrsL-
hand in industry dialogue and
get unparalleled insights into the
projecLs, regIsLer Ior ReLIremenL
IvIng und SenIor Cure SouLIeusL
AsIu zo1q Iere.
n response Lo growIng InvesL-
ment opportunities in the re-
gIon`s reLIremenL IndusLry, MA-
PAC wIII muxImIze LIe ImpucL
oI SouLIeusL AsIu`s senIor cure
potential by bringing key inves-
Lors und poIIcymukers under one
rooI In KuuIu umpur LIIs June.
DownIoud our brocIure Iere Ior
more InIormuLIon.
Retirement Living & Senior
Cure SouLIeusL AsIu zo1q brIngs
In LIe regIon`s mosL experIenced
senIor cure proIessIonuIs, wIo
wIII sIure reuI-IIIe experIences
und besL prucLIces wIen deuIIng
wILI Issues specIhc Lo SouLIeusL
AsIu`s senIor IousIng und cure
IndusLry. TIe IIgI-IeveI Indus-
Lry guLIerIng wIII sIowcuse vurI-
ous projecLs ucross LIe regIon,
IncIudIng Buun KumIungcIuy,
LIe Germun-bused AIzIeImer`s
cure vIIIuge In TIuIIund, IIe Cure
ResIdences Irom LIe PIIIIppInes,
OpLImum-Eden HeuILIcure Irom
Malaysia, Summerset Villages
Irom New ZeuIund und muny
more.
TIe evenL wIII IeuLure speecIes
by key senior housing players
sucI us ToLuI nvesLmenL, MKH
BerIud, IIe Cure ResIdences,
AsIIunu HousIng, HSB DeveI-
opmenL Sdn BId, us weII us key-
notes by government bodies and
reguIuLors sucI us PEMANDU,
LIe DIrecLor GeneruI oI SocIuI
WeIIure und MuIuysIu ProperLy
ncorporuLed, us weII us muny
more.
WILI un excIusIve cIosed-door
InvesLor`s concIuve und sILe Lour
Lo AruGreens ResIdences & VII-
Iuge, vIsILors wIII Iuve every op-
portunity to see for themselves
LIe menLIoned powerIuI oppor-
LunILIes und LungIbIe commercIuI
vIubIIILy oI LIe regIon.
Men gather at the Tampines East Neighbourhood Centre in Tampines district, in Singapore.
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.
~.q .~: ~:q ~ . _ . ._ . , .:.
~.,_e ...~.q ~._.._.~.
~....:.. e~:..:.~:. .....
q,~~~ Retirement Living and
Senior Care Southeast Asia 2014
~:. ....q:.. ~:.:..._.~
~,. ~ . ~ q~~ ~.._...
.__e.._.
~.q.~:~:q- ...:.._
~,:.e~.,.._eq:.,q:~..~_e.
~.~~.~q_.. ....q:.~.,_e
~. : ~_ . ..:.e ~., .._eq, ~.~: .
.. ~ .,q:~ ~~e.,q:~
q .~q._.
....q:...~~ ..._
._. ,.|~ ~~ .,q:~ q.~_
.~ q ._ .~ . , .q :.. e .. . .
.:.~.,_e e... ~.~:... ~
.,q:~ .|~_...q ... ,.~ ~.,
_e ~.q:..~,..:. ....:_..
~:._e .:._...:.~ ....q :.
.. ~ . ~~ ~ .,q:~ .|~
.:..q, ....:.~q._.
June 12-18, 2014
Myanmar Business Today
mmbiztoday.com
AUTOMOBILE
25
Myanmar Summary
Myanmar Summary
GM Apologises Ior Sending Recull
Notices to Victims' Iumilies
G
eneral Motors has apol-
ogIsed Lo IumIIIes oI uc-
cIdenL vIcLIms wIo Iuve
been noLIhed Lo brIng In curs Ior
repIucemenL oI deIecLIve IgnI-
LIon swILcIes.
We ure deepIy sorry Lo LIose
IumIIIes wIo receIved u recuII
noLIce, suId GM spokesmun
Greg MurLIn In response Lo
quesLIons Irom ReuLers.
GM Ius recuIIed z.6 mIIIIon oI
its most popular models to re-
pIuce u deIecLIve swILcI LIuL IL
Ius IInked Lo 1 IuLuIILIes. Some
IumIIIes wIo IosL Ioved ones In
IuLuI crusIes Iuve compIuIned
LIuL GM sIouId noL Iuve senL
LIem noLIces Lo brIng In curs Ior
repuIrs.
TerrI DIBuLLIsLu, wIo IosL Ier
16-yeur-oId duugILer Amber
MurIe Rose In u zoo Mury-
Iund uccIdenL InvoIvIng u CIev-
roIeL CobuIL, LoId ReuLers sIe
receIved Lwo recuII noLIces
Irom GM IusL week uskIng Ier
Lo brIng In LIe veIIcIe Lo hx
LIe IgnILIon swILcI und power
sLeerIng. TIe cur wus desLroyed
wIen Rose crusIed InLo u Lree.
TIe posLcurds were muIIed Lo
LIe IumIIy uL ILs new uddress In
SouLI CuroIInu, wIere DIBuL-
LIsLu suId LIey moved Lo recover
Irom LIe Ioss. SenL by u IocuI
GM deuIer, LIe curds deLuIIed
LIree dIerenL recuIIs GM Ius
Issued InvoIvIng LIe CobuIL In
Marilyn Thompson and
Paul Lienert
recenL monLIs.
DIBuLLIsLu suId GM couId Iuve
IdenLIhed LIe desLroyed cur
LIrougI u sImpIe cIeck oI VeII-
cIe denLIhcuLIon Numbers.
Rose Ius been IdenLIhed us
one oI LIe 1 vIcLIms GM IInks
Lo LIe IuuILy swILcI.
ederuI reguIuLors now suy
LIey beIIeve LIuL GM`s deuLI
LoII Is un undercounL. A ReuLers
unuIysIs oI IederuI crusI duLu
Iound uL IeusL ;q peopIe Iuve
dIed In GeneruI MoLors curs In
uccIdenLs wILI some key sImI-
IurILIes Lo LIose LIuL GM Ius
IInked Lo LIe deIecLIve swILcIes.
Martin said in an email that
GM conLInues Lo Iook InLo uII
cIuIms we ure mude uwure oI In
LIe recuII popuIuLIon.
Some families say they are still
seekIng unswers on wIeLIer Iu-
LuI uccIdenLs couId be IInked Lo
LIe swILcI.
KIm PIerce, wIo IosL Ier
1;-yeur-oId son, AusLIn SIouL,
In u crusI In MuIne InvoIvIng
u zooq SuLurn on, suId sIe
Ieurned ubouL GM`s probIems
wILI u deIecLIve swILcI Irom
news reporLs eurIy LIIs yeur. SIe
LIen obLuIned u poIIce uccIdenL
reporL LIuL sIowed LIe drIver`s
sIde uIr bug dId noL depIoy wIen
Ie crusIed uL IIgI speeds InLo
u Lree. AnoLIer Leenuge drIver
wus cIurged In LIe uccIdenL,
wIIcI InvoIved rucIng.
PIerce Ius IIred un uLLorney
und conLucLed LIe NuLIonuI
HIgIwuy Trum c SuIeLy AdmIn-
IsLruLIon (NHTSA) regurdIng
LIe IncIdenL LIuL Ied Lo Ier son`s
deuLI.
MurLIn decIIned commenL
on wIeLIer GM wus revIewIng
SIouL`s cuse.
OuL oI respecL Ior LIeIr prI-
vucy, we do noL dIscuss prIvuLe
conversuLIons we muy Iuve Iud
wILI IumIIy members or LIeIr
IeguI represenLuLIon, Ie suId.
PIerce und oLIer vIcLIms` Ium-
IIIes Iuve usked LIe NHTSA,
wIIcI reguIuLes GM, Lo gIve
them more information about
LIe IuLuI uccIdenLs.
TIe NHTSA Ius suId LIey ure
IeIpIng IumIIIes Lo geL unswers
Irom GM by uskIng LIe cur muk-
er to provide additional infor-
muLIon on ILs veIIcIes. Reuters
Hyondui OHers Curs ut iscoonted
Prices in Myunmur
Kyaw Min
S
ouLI Koreu`s HyunduI,
wIIcI Is LIe om cIuI sponsor
oI LIIs yeur`s A WorId
Cup, Ius IuuncIed u promoLIonuI
cumpuIgn In Myunmur uIeud oI
the major football event, the auto
compuny suId.
HyunduI, LIe hILI IurgesL uu-
LomoLIve producer In LIe worId,
IuuncIed LIe progrum IuLe IusL
monLI In wIIcI cusLomers cun
purcIuse brund new Hyun-
duI curs uL dIscounLed prIces uL
HyunduI MoLor Myunmur sIow-
room uL LIe corner oI nseIn roud
and Thamine Station road in
Muyungone LownsIIp In Yungon.
TIe oer wIII be vuIId unLII JuIy.
TIe hrm suId specIuI WorId
Cup promoLIonuI ILems wIII uIso
be gIven Lo cusLomers wIo muke
purcIuses.
Curs LIuL couId be purcIused
during the promotion are:
EANTRA (MT) uL K. mII-
IIon ($q,;oo), EANTRA (AT)
Kq. mIIIIon, EANTRA (UX)
K;.q mIIIIon, I-o (AT) K.q
mIIIIon, I-o (UX) K;. mII-
IIon, SANTAE (uII) K6.q mII-
IIon ($8,qoo), SONATA (STD)
Kqz.6 mIIIIon, AZERA (STD)
Kq.q mIIIIon, z.6 dIeseI engIne
brund new IIgIL Lruck K16.q mII-
IIon und z. dIeseI 1z-seuLer H1 uL
Kzq.1 mIIIIon.
AII veIIcIes puL up Ior suIe come
wILI u -yeur or 1oo,oookm wur-
runLy, wIIIe cusLomers cun uIso
Iuve uccess Lo servIce und spure
purLs uL LIe sume pIuce.
HyunduI suId cusLomers wIII uIso
be ubIe Lo Luke pIoLos wILI LIe pIc-
tures of Brazilian footballer Kaka
und SpunIurd gouIkeeper CusII-
Ius wIo ure boLI HyunduI`s brund
umbussudors Ior zo1q A WorId
Cup. HyunduI guve u brund new
SunLue Lo Kuku eurIIer LIIs yeur.
HyunduI begun ILs ussocIuLIon
wILI A In 1qqq und wIII con-
tinue to be a top-tier sponsor until
zozz. L wIII supporL uII A com-
peLILIons IncIudIng LIe nexL A
WorId Cups, ConIederuLIons Cups,
Women`s WorId Cups, U-zo und
U-1; WorId Cups.
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~. : . .~_~ .. ...: .~:e: ~
. . ._ . . , ._e. ._ Hyundai ~:.
~.~._ FIFA World Cup 2014
~ OIfcial Sponsor ~_e. .|~ .|
._. ~. : e.:._. . - Official
Sponsor ._._e. ._ Hyundai . _. .
~ . . ._ ~.,. ~ . Promotion
. _....__e.._. Hyundai ._
~ .... .~~: FIFA .
. ...| ...: q ~ . _. . ~ . . . ~
FIFA - .~,. Sponsor ~_e.
q.,.__e.._.
GM Motor ._ ,.~~:..:.-
.~..._.,. .e..,._ ~:.
.:.._~: e:..~:~.._e..:.
~: .....q..:.~ .~:..,.
_..._~:. .q._.
GM - ._.:.q...q. Greg
Martin ~ e:..~:~..~
.....q..:.~~~ ~.,~..
.~..~:._e..._~:. ._.:_~:..
._. GM ._ ,.~~...
._ ' .,...:..:.~:e:.:.
~ .~ . .._ .,. . e ..,_. .._~:
_.,._...._.q, ..._.. ~.
.|.,.._~: e:..~:~._e..:.
.q:~ . ~, ......q._.
June 12-18, 2014
Myanmar Business Today
mmbiztoday.com
26
Myanmar Summary
AUTOMOBILE
Sooth Koreu's Kiu Motors Pluns Iirst Plunt in Mexico
Capacity set at 300,000 vehicles a year
K
Iu MoLors Corp pIuns Lo
break ground soon on a
new pIunL In MexIco, Lwo
sources IumIIIur wILI LIe muL-
ter said, a further sign that the
compuny und ILs umIIuLe, Hyun-
duI MoLor Co, ure eusIng un un-
omcIuI moruLorIum on cupucILy
growLI.
The plant, to be built in Mon-
Lerrey, wIII Iuve u cupucILy oI
Hyunjoo Jin oo,ooo veIIcIes und InILIuIIy
produce Lwo smuII curs, one
oI LIe sources LoId ReuLers.
TIe IucIIILy wouId IeIp meeL
demand in the United States,
wIere KIu`s Ione pIunL runs uL
IuII speed.
TIe sources decIIned Lo be
IdenLIhed becuuse LIe pIuns ure
noL yeL pubIIc. Asked ubouL u
new IucLory In MexIco, u com-
pany spokesman told Reuters
KIu Is consIderIng vurIous op-
LIons Lo resoIve cupucILy con-
straints in the United States,
buL no decIsIon Iud been mude.
AbouL Lwo yeurs ugo, CIung
Mong-koo, cIuIrmun oI Hyun-
duI MoLor und ILs KIu umIIuLe,
unomcIuIIy IuILed new cupuc-
ILy, worrIed LIuL LIe SouLI Ko-
rean group risked running into
the kind of quality issues that
dogged Jupunese rIvuI ToyoLu
MoLor Corp wIen IL grew Loo
uggressIveIy In LIe zooos.
TIe KIu spokesmun decIIned
Lo commenL on wIeLIer CIung
had eased his ban on building
new IucLorIes.
Ive peopIe IumIIIur wILI LIe
groups plans told Reuters early
LIIs yeur LIuL HyunduI und KIu
were uguIn IookIng Lo InvesL
In new munuIucLurIng cupuc-
ity, running feasibility studies
In promIsIng murkeLs sucI us
MexIco. n MurcI, HyunduI
suId IL pIunned Lo buIId u new
pIunL In CIongqIng, In souLI-
wesLern CIInu.
HyunduI und KIu ure now
more exIbIe wILI buIIdIng new
plants as their global manu-
IucLurIng cupucILy Ius reucIed
IImILs, suId SuI Sung-moon,
an auto analyst at Korea Invest-
menL & SecurILIes. WILIouL
new IucLorIes, LIe duo Is ex-
pecLed Lo Iose murkeL sIure In
zo16 Ior LIe hrsL LIme In over u
decude.
HyunduI und KIu, wIIcI Lo-
geLIer runk hILI In gIobuI cur
sales, are under pressure from
u hrmIng IocuI currency wIIcI
erodes ILs eurnIngs, und suer
Irom recurrIng IndusLrIuI dIs-
puLes und IIgI Iubour cosLs uL
Iome.
KIu Ius u IucLory In LIe US
sLuLe oI GeorgIu, wIIcI produc-
es the Optima mid-sized sedan
and the Sorento sport utility ve-
IIcIe (SUV) us weII us HyunduI`s
SunLu e SUV. HyunduI Ius one
IucLory In AIubumu.
Both plants are running at full
cupucILy und ure unubIe Lo keep
up wILI demund In u recoverIng
US murkeL, compuny execuLIves
Iuve suId. Reuters
Jupun Muy Aoto Sules rop AIter April Sules Tux Hike
J
apanese auto sales in May
dropped 1.z percenL Irom
a year ago, industry data
sIowed, us LIe puce oI decIIne
eased from the previous month
wIen u suIes Lux IIke supped
demund.
AuLomukers IncIudIng ToyoLu
MoLor Corp und Hondu MoLor
Co soId u LoLuI oI 6,;o ve-
IIcIes, duLu Irom LIe Jupun Au-
LomobIIe DeuIers AssocIuLIon
und Jupun IgIL MoLor VeII-
cIe und MoLorcycIe AssocIuLIon
sIowed.
We ure seeIng u sIIgIL Im-
provemenL compured Lo AprII,
buL we ure sLIII uL u Iow IeveI,
suId YosIILuku HuyusII, u dIrec-
Lor wILI LIe Jupun AuLomobIIe
DeuIers AssocIuLIon. n AprII
wIen suIes Lux rose by per-
cenLuge poInLs Lo 8 percenL,
uuLo suIes IeII . percenL.
Pussenger cur suIes In Muy
took a hit from the tax hike,
droppIng 6.q percenL yeur-on-
yeur, wIIIe demund Ior mInIc-
urs wILI un engIne sIze oI 66o
cc or smuIIer rose . percenL,
IeIped by recenL IuuncIes oI
popuIur new modeIs.
Yoko Kubota Sales for Toyota Motor, in-
cIudIng exus veIIcIes und 66o
mInIcurs, IeII 1o.1 percenL Lo
q8,q;z veIIcIes.
Hondu MoLor suIes grew 18.8
percenL Lo ,qq1 veIIcIes,
bucked by ILs IL subcompucL
LIuL wenL on suIe In SepLember,
wIIIe NIssun MoLor Co posLed
u ; percenL rIse uL q,; veII-
cIes, IeIped by ILs Duyz mInIcur
LIuL wenL on suIe In June zo1.
AuLo suIes In LIe hnuncIuI
yeur Lo end-MurcI zo1 ure ex-
pecLed Lo IuII 1.6 percenL Irom
u yeur eurIIer Lo q.; mIIIIon ve-
IIcIes, LIe Jupunese uuLo Iobby
Iud suId In MurcI. Reuters
Toyotu Suys Muy Chinu Aoto Sules Lp .,pc
T
oyoLu MoLor Corp und ILs Lwo IocuI joInL-venLure purLners
soId 81,1oo uuLomobIIes In CIInu In Muy, up z.; percenL
Irom u yeur eurIIer, LIe uuLomuker suId.
TIuL IoIIowed u 1z.q percenL yeur-on-yeur rIse In AprII und u 1q
percenL rIse In MurcI.
Sources wILI dIrecL knowIedge oI LIe duLu LoId ReuLers eurIIer
LIuL ToyoLu`s CIInu suIes growLI sIowed Lo percenL In Muy,
muInIy becuuse suIes oI LIe CoroIIu modeI In CIInu IeII sIurpIy
uIeud oI LIe pIunned IuuncI oI u redesIgned versIon oI LIe mod-
eI LIIs summer.
n LIe hrsL hve monLIs oI LIe yeur, Jupun`s bIggesL uuLomuker
soId qq,qoo veIIcIes, up 16.1 percenL Irom u yeur eurIIer.
ToyoLu LIIs yeur uIms Lo seII more LIun 1.1 mIIIIon veIIcIes In
CIInu. I uccompIIsIed, LIIs wouId see LIe curmuker surpuss un-
nuuI suIes oI 1 mIIIIon veIIcIes In CIInu Ior LIe hrsL LIme, u LurgeL
IL orIgInuIIy uImed Ior In zo1o.
ToyoLu`s execuLIve vIce presIdenL YusumorI Iuru suId In BeI-
jIng In AprII LIuL over LIe Ionger-Lerm LIe Jupunese uuLomuker
uIms Lo doubIe suIes In CIInu Lo ubouL z mIIIIon veIIcIes u yeur
buL guve no LIme Irume Ior LIe objecLIve.
usL yeur, ToyoLu soId q1;,oo veIIcIes In CIInu.
ToyoLu operuLes joInL venLures In CIInu wILI CIInu AW
Group Corp und GuungzIou AuLomobIIe Group. Reuters
Myanmar Summary
Myanmar Summary
~q.e:.~._..~ Kia Motor Car
~ . ~ ._ .~ . ~ . ~ , .~ -
.~,~..~ ~_..:~q, ...,
._~:. . q._ ., ..~ , ._ . , q
_. ~, .~ ~_ q_. . ~. . . . ~:.. .
.q ...,.., ~..q, ..:.
._~:. .q._.
e .~ . , ..~ , ~. , ~_ ..:~
_..._ ~..q~,.~~. ~:.
.~..~~ _ e_._.._...q...
~. .|.~ , ~..:~ ~~ ~_ ..:~
q, ~~ ~ ~ ~...:._ . ._e~ .~
..q.....:._. ~..q~,_._
.: . -..: .~: e: . ~. .~ ..:~
~ _e_._.....q, q_qe:.
._~: . ~ . ~ ._.:.q.. . q . ~. .~
,~~:. ._.:_~:.:..._.
Kia ._ . , . ._ . . .:.~ ~..
q~,~ ~e~:. e_...:..:
_~.~.q..:._~: Kia - ._.:
.q...q..:.~ e.~_..:~
._ .~,..~._~:.~ .~.~
...q, _...._~:. .q._.
.,.-..:.~:~:..q:..q.
._ .,.._..~ ~ ...
q:. . , .~. .. :.e e q ._~: . . q
._ .., . -~_~ .. ...: .~: ~:.
~.~..._e.._ ~e~:. e,.|
~._ e...~ ..:.~:~:....q
....|. ,',,,~ .q:....._
e .,..:.~:~:..q:.~e..:.
~. .-~.~ ~.~ .:.~q . q
._.e .~ . ..: .~: ~:..q: .
~:.~. .. q_. .. : ~. .q. ~. , . , .
:..:.~ ~._..~:~._..._~:
_e.._.
A worker walks past Kia Motors Corp. vehicles bound for export at the port of Pyeongtaek.
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In May, Japan sales for Toyota Motor, including Lexus vehicles and 660 minicars,
feII 1U.1 percent to 98,472 vehicIes compared to a year ago.
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.,.-~_~...~:.~...~e~:._~_.:.~.~~.....
..|._~,~.~~:.~...q~,~~~. ..q: ... q_.. ... q:..,.
~.~~.._~:..q._.~..|.q:...._...~.~~.:_..e.,
.,~~ ~ ... , q:..,....q:....._.~.~~.~.:.~q
~e~:-~,~.~..:.~:~:..q:..q..:..~.~~ee ~.,~
:. ~ q.,_.. ~, ~ _._ ~ . _~ ~ .:.._ Corolla~..~.:.~:..:.._
..~.q:. .~.._~:. .q._. ~~, ... .. |..~:~:.~~.
.,. -~_~.....:.~:~:.~.~~e~:._ ~:.~...q ,,,~~
.q:.. ..._~:. .q._.
June 12-18, 2014
Myanmar Business Today
mmbiztoday.com
IT & TELECOM
27
Myanmar Summary
A Chinese Internet user browses for information on the popular search engine Google in Beijing.
Chinu Stute Mediu Culls Ior 'Severe Ponishment'
Ior Google, Apple, LS Tech Iirms
C
hinese state media lashed
ouL uL GoogIe nc, AppIe
nc und oLIer US LecI-
noIogy compunIes IusL week,
cuIIIng on BeIjIng Lo punIsI
severeIy LIe puwns oI LIe US
government for monitoring
CIInu und sLeuIIng secreLs.
US compunIes sucI us YuIoo
nc, CIsco SysLems nc, MIcro-
soIL Corp und ucebook nc
LIreuLen LIe cyber-securILy oI
CIInu und ILs InLerneL users,
said the Peoples Daily on its
mIcrobIog, In commenLs ecIoed
on the front page of the English-
Iunguuge CIInu DuIIy.
L Is noL cIeur wIuL spurked
this latest round of vitriol, nor
wIuL InIormuLIon LIe US hrms
ure uIIeged Lo Iuve sLoIen. BuL
CIInese medIu Iuve repeuLedIy
uLLucked AmerIcun LecI compu-
nies for aiding the US govern-
menL`s cyber espIonuge sInce
US NuLIonuI SecurILy Agency
(NSA) conLrucLor Edwurd
Snowden reveuIed wIdespreud
spyIng progrums IncIudIng
PRSM.
Under PRSM, LIe NSA seIzed
duLu Irom compunIes sucI us
GoogIe und AppIe, uccordIng Lo
reveIuLIons mude by Snowden u
yeur ugo.
CIInese sLuLe-owned hrms
Iuve sInce begun dIspensIng
wILI LIe servIces oI US compu-
nIes sucI us BM Corp, OrucIe
Corp und CIsco In Iuvour oI do-
mesLIc LecInoIogy. As u resuIL,
Snowden`s reveIuLIons muy cosL
US compunIes bIIIIons oI doI-
Iurs, unuIysLs suy.
US compunIes IncIudIng Ap-
pIe, MIcrosoIL, GoogIe, uce-
book, eLc ure uII coordInuLIng
wILI LIe PRSM progrum Lo
monILor CIInu, LIe PeopIe`s
DuIIy suId on ILs omcIuI mIcro-
bIog.
Paul Carsten
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To resIsL LIe nuked InLerneL
Iegemony, we wIII druw up In-
ternational regulations, and
sLrengLIen LecInoIogy suIe-
guurds, buL we wIII uIso severeIy
punIsI LIe puwns oI LIe vIIIuIn.
The priority is strengthening
penalties and punishments,
und Ior unyone wIo sLeuIs our
information, even though they
ure Iur uwuy, we sIuII punIsI
LIem! IL suId.
We cunnoL suy LIIs more
cIeurIy - LIe (US) governmenL
does noL Iuve uccess Lo GoogIe
servers - noL dIrecLIy, or vIu u
buck door, or u so-cuIIed drop
box, suId GoogIe CIIeI eguI
Omcer DuvId Drummond In un
emuIIed sLuLemenL. We provIde
user data to governments only
In uccordunce wILI LIe Iuw.
MIcrosoIL decIIned Lo provIde
ImmedIuLe commenL. uce-
book, YuIoo, AppIe und CIsco
were noL ImmedIuLeIy uvuIIubIe
wIen ReuLers sougIL commenL
by LeIepIone und emuII.
ucebook Is currenLIy bIocked
by CIInese censors, buL suId
last month it may open a sales
omce In CIInu Lo provIde more
supporL Lo IocuI udverLIsers wIo
use LIe websILe Lo reucI cus-
Lomers overseus.
Rocky ti me
n December, GoogIe, MIcro-
soIL, AppIe, ucebook, YuIoo
und oLIer InLerneL compunIes
issued an open letter to US
PresIdenL Buruck Obumu und
Congress Lo reIorm und InLro-
duce resLrIcLIons on surveII-
Iunce ucLIvILIes.
Even so, US LecI compunIes
Iuve Iud u rocky LIme In CIInu
sInce LIe NSA reveIuLIons. JusL
IusL monLI, cenLruI governmenL
omces were bunned Irom In-
sLuIIIng WIndows 8, MIcrosoIL`s
IuLesL operuLIng sysLem, on new
compuLers.
But the US has responded
wILI ILs own meusures. n Muy,
LIe US DepurLmenL oI JusLIce
cIurged hve CIInese mIIILury
omcers wILI IuckIng US com-
punIes Lo sLeuI Lrude secreLs.
TIe IndIcLmenL spurked ouL-
ruge In CIInu und udded ur-
gency Lo BeIjIng`s eorLs Lo pro-
moLe LIe deveIopmenL oI IocuI
InIormuLIon LecInoIogy (T)
compunIes.
CIInese medIu cuIIed LIe
UnILed SLuLes u IIgI-IeveI
IooIIgun und omcIuIs uccused
WusIIngLon oI uppIyIng dou-
bIe sLundurds on Issues oI cy-
ber spyIng.
AILer LIe cIurges were un-
nounced, CIInu suId IL wIII In-
vestigate providers of impor-
LunL T producLs und servIces Lo
proLecL nuLIonuI securILy und
economIc und socIuI deveIop-
menL. Reuters
3
rd
Into Myunmur Telecoms & IT Sommit o1q in Joly
Y
ungon wIII IosL LIe
rd
nLo Myunmur TeIecoms
& T SummIL zo1q nexL
month, the events organiser
suId.
TIe summIL wIII Luke pIuce
Irom JuIy 1o-11 uL Purk RoyuI
HoLeI In Yungon, SIngupore-
bused evenL munugemenL hrm
MugenLu GIobuI suId.
Myunmur's LeIecom und CT
secLors conLInue Lo excILe LIe
murkeL wILI IervenL InLeresLs
from leading international
pIuyers. Two new LeIecom II-
Zwe Wai
cences were uwurded eurIIer
LIIs yeur und us new LeIecom
InIrusLrucLure ure seL up, more
vuIue udded servIces ure ubouL
Lo roIIouL soon.
MugenLu GIobuI suId LIe sum-
mit aims to be a platform for
InLeresLed LeIecom operuLors,
investors, equipment provid-
ers und LecInoIogy Ieuders Lo
ussess new murkeL dynumIcs,
neLwork wILI governmenL und
Myanmar Summary
~~e~_~.._.:~ _.,.:.~.
~.~~.~..~.e.q..q:
. .... ... .. ~. . ~ .:._ ~ . .
~~ q~.,. ~~ q~.,~ q,~,_.
Park Royal Hotel ~ ~...:.
industry stakehold-
ers, dIscuss LIe op-
eruLIonuI cIuIIenges,
evaluate options to
overcome dImcuI-
LIes, und prohL Irom
emerging opportunities in My-
anmar's LeIecom und CT sec-
Lors.
._e .q._.
_.,.:.~.~.~~.~..~
.e.q.~_._ .~~:. q...
_. . . . .:.~~ ~ . ~ . . q :.e e .~: .
._ ~._.~.,.:.. _~.~.,q
._.
~, ~ ~. .q. . . e:~.,_ e
Google Inc, Apple Inc . ~_.:.
~..q ~, ,_ .._:~ . ~ .:.~:.
e. ~.~ ~ _ .. ~ ._.:_~:.. _ . .
. .~. .q~:. ~, ~ . ~:.
..:_~_~: .~~.~.:...e.,
._ ~..q~,~..q- .~.|...
.:.~:. _.._..,, ~.q.eq,
~~~,..._.
~..q~, ~ . ~ .:._e. ._ Yahoo
Inc, Cisco Systems Inc, Microsoft
Corp . Facebook Inc ~~.,
_e ~, ~ . -. ~ :. _. .q..
~~:,~.....:.~:. ~.q:e
_..~q._~:. Peoples Daily .
,.-~~:,~.:.~.:~ ._.:
_~:.._.. ~..:.:_e ~ .~
._ ~. .|.~ ..:-.~ . :e .~
._. _...e:_..._.
e._..,:~:. ._._~ .~
_e...'.:._~ ..q.~. ~..
q ~, ~ . ~ . :.~.,_ e ._ ._
~.~~.~.:. ..e.._~._.
q....: ..q... ...: ~,~
. . e:.:.~.,_e ~..q ~, ~. .
.:.. _. .q..~ . (NSA) ~, , ~
~: Edward Snowden . PRISM
~.|~~ ..~.~..:.~:. .e:
~ _. ..,:~ ~..q ~, ,_ .._:
~ . ~ .:.~:. ~..q ~, ~. .q-
.~:....q.~ .:~.._
~~~ ~_~._~.~~.~.._.
PRISM ~.~.~q NSA ~.,
_e ~.~.:._e.._ Google .
Apple ~.~.~~.~.:. qq.
._~:. .,.._ ~...~_~:~
Snowden . ~ .e: ._.:_~:.. ._ .
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June 12-18, 2014
Myanmar Business Today
mmbiztoday.com
28
INTIRNATIONAL AN OMISTIC ILIGHT SCHILLI
Fliggh htss ffroom Yanggon (RGNN) to Bangkok ((BKK) Fliggh htss ffroom Banggkok (BKKK) to Yaangon (RGN)
Flight No. DDayss From To ETD ETA Operated by: Flight No. DDayss From To ETD ETA Operated by:
PG 706 1 2 3 4 5 6 7 RGN BKK 7:15 9:30 Bangkok Airways DD4230 1 2 3 4 5 6 7 DMK RGN 06:30 07:55 NOK Airlines
DD4231 1 2 3 4 5 6 7 RGN DMK 8:00 9:45 NOK Airlines 8M336 1 2 3 4 5 6 7 BKK RGN 6:40 7:25 MAI
FD2752 1 2 3 4 5 6 7 RGN DMK 8:30 10:15 Thai AirAsia FD2751 1 2 3 4 5 6 7 DMK RGN 7:15 8:00 Thai AirAsia
8M335 1 2 3 4 5 6 7 RGN BKK 8:40 10:25 MAI TG303 1 2 3 4 5 6 7 BKK RGN 8:00 8:45 Thai Airways
TG304 1 2 3 4 5 6 7 RGN BKK 9:50 11:45 Thai Airways PG701 1 2 3 4 5 6 7 BKK RGN 8:50 9:40 Bangkok Airways
PG702 1 2 3 4 5 6 7 RGN BKK 10:45 12:40 Bangkok Airways FD2755 1 2 3 4 5 6 7 DMK RGN 11:35 12:20 Thai AirAsia
Y5-237 1 2 3 4 5 6 7 RGN BKK 18:05 19:50 Golden Myanmar Airlines PG707 1 2 3 4 5 6 7 BKK RGN 13:40 14:30 Bangkok Airways
TG302 1 2 3 4 5 6 7 RGN BKK 14:45 16:40 Thai Airways Y5-238 1 2 3 4 5 6 7 BKK RGN 21:10 21:55 Golden Myanmar Airlines
PG703 1 2 3 4 5 6 7 RGN BKK 15:20 17:15 Bangkok Airways FD2753 1 2 3 4 5 6 7 DMK RGN 16:35 17:20 Thai AirAsia
8M331 1 2 3 4 5 6 7 RGN BKK 16:30 18:15 MAI PG703 1 2 3 4 5 6 7 BKK RGN 16:45 17:35 Bangkok Airways
FD2754 1 2 3 4 5 6 7 RGN DMK 17:50 19:35 Thai AirAsia TG305 1 2 3 4 5 6 7 BKK RGN 17:55 18:40 Thai Airways
PG704 1 2 3 4 5 6 7 RGN BKK 18:25 20:20 Bangkok Airways DD4238 1 2 3 4 5 6 7 BKK RGN 19:30 20:15 NOK Airlines
TG306 1 2 3 4 5 6 7 RGN BKK 19:40 21:35 Thai Airways 8M332 1 2 3 4 5 6 7 BKK RGN 19:20 20:05 MAI
DD4239 1 2 3 4 5 6 7 RGN DMK 21:00 22:45 NOK Airlines PG705 1 2 3 4 5 6 7 BKK RGN 20:00 21:15 Bangkok Airways
FFliggh htss ffroom m Yangoon (RGN)) to Chiaang Maii (CNX) FFliggh htss ffroom m Chiangg Mai (CCNX) to YYangon (RGN)
W9-9607 4 7 RGN CNX 14:50 16:20 Air Bagan W9-9608 4 7 CNX RGN 17:20 17:50 Air Bagan
Flligghtss ffroom Yanggon (RGNN) to Sinngapore (SIN) Flligghtss ffroom Singaapore (SIN) to Yangon ((RGN)
Y5-233 1 2 3 4 5 6 7 RGN SIN 10:10 14:40 Golden Myanmar Airlines Y5-234 1 2 3 4 5 6 7 SIN RGN 15:35 17:05 Golden Myanmar Airlines
MI509 1 6 RGN SIN 0:25 5;00 SilkAir SQ998 1 2 3 4 5 6 7 SIN RGN 7:55 9:20 Singapore Airline
8M231 1 2 3 4 5 6 7 RGN SIN 8:30 13:00 MAI 8M6231/3K585 1 3 4 5 6 SIN RGN 9:10 10:40 Jetstar Asia
SQ997 1 2 3 4 5 6 7 RGN SIN 10:25 14:45 Singapore Airline 8M232 1 2 3 4 5 6 7 SIN RGN 14:10 15:40 MAI
8M6232/3K586 1 3 4 5 6 RGN SIN 11:30 16:05 Jetstar Asia MI518 1 2 3 4 5 6 7 SIN RGN 14:20 15:45 SilkAir
8M233 5 6 7 RGN SIN 13:45 18:15 MAI 8M235 5 6 7 SIN RGN 19:15 20:45 MAI
TR2827 1 6 7 RGN SIN 15:10 19:35 TigerAir TR2826 1 6 7 SIN RGN 13:00 14:30 TigerAir
TR2827 2 3 4 5 RGN SIN 17:10 21:35 TigerAir TR2826 2 3 4 5 SIN RGN 15:00 16:30 TigerAir
MI517 1 2 3 4 5 6 7 RGN SIN 16:40 21:15 SilkAir MI520 5 7 SIN RGN 22:10 23:35 SilkAir
FFliightts frromm Yangonn (RGN) tto Kualaa Lumpuur (KUL) Fligghtts frro om m Kuala LLumpur (KUL)too Yangonn (RGN)
AK1427 1 2 3 4 5 6 7 RGN KUL 8:30 12:50 AirAsia AK1426 1 2 3 4 5 6 7 KUL RGN 6:55 8:00 AirAsia
8M501 1 2 3 4 5 6 7 RGN KUL 8:55 12:55 MAI MH740 1 2 3 4 5 6 7 KUL RGN 10:05 11:15 Malaysia Airlines
MH741 1 2 3 4 5 6 7 RGN KUL 12:15 16:30 Malaysia Airlines 8M502 1 2 3 4 5 6 7 KUL RGN 14:00 15:00 MAI
Fligghtts frrom Yanngon (RGGN) to HHanoi (HHAN) Fligghtts frrom Hannoi (HANN) to Yanngon (RRGN)
VN956 1 3 5 6 7 RGN HAN 19:10 21:30 Vietnam Airlines VN957 1 3 5 6 7 HAN RGN 16:35 18:10 Vietnam Airlines
Flliggh htss ffroom m Yangon (RGN) to Ho CChi Minhh (SGN) Flliggh htss ffroom m Ho Chii Minh (SSGN) to Yangonn (RGN)
VN942 2 4 7 RGN SGN 14:25 17:10 Vietnam Airlines VN943 2 4 7 SGN RGN 11:40 13:25 Vietnam Airlines
Flligghtss ffrom Yanngon (RGGN) to TTaipei (TTPE) Flligghtss ffrom Taipei (TPEE) to Yanngon (RGN)
CI7916 1 2 3 4 5 6 RGN TPE 10:50 16:10 China Airline CI7915 1 2 3 4 5 6 7 TPE RGN 7:15 10:05 China Airline
BR288 2 5 6 RGN TPE 11:35 17:20 EVA Air BR287 2 5 6 TPE RGN 7:30 10:35 EVA Air
Flliggh htss ffroom Yanggon (RGNN) to Kunming(KMG) Flliggh htss ffroom Kunmming(KMMG) to Yangon ((RGN)
CA906 2 3 4 6 7 RGN KMG 14:15 17:35 Air China CA905 2 3 4 6 7 KMG RGN 12:40 13:15 Air China
MU2032 1 2 3 4 5 6 7 RGN KMG 14:40 17:55 China Eastern MU2031 1 2 3 4 5 6 7 KMG RGN 13:30 14:00 China Eastern
MU2012 3 6 RGN KMG 12:20 18:10 China Eastern (via NNG) MU2011 3 6 KMG RGN 8:25 11:30 China Eastern (via NNG)
Flligghtss from Yanngon (RGGN) to BBeijing (BJS) Flligghtss from Beijjing (BJSS) to Yanngon (RRGN)
CA906 2 3 4 6 7 RGN BJS 14:15 21:55 Air China (via KMG) CA905 2 3 4 6 7 BJS RGN 8:05 13:15 Air China (via KMG)
Fliggh htss ffroom Yanggon (RGNN) to Naanning (NNG) Fliggh htss ffroom Nannning (NNNG) to Yaangon ((RGN)
Flight No. DDayss From To ETD ETA Operated by: Flight No. DDayss From To ETD ETA Operated by:
MU2012 3 6 RGN NNG 12:20 16:25 China Eastern MU2011 3 6 NNG RGN 10:15 11:30 China Eastern
FFliggh htss ffroom m Yangoon (RGN)) to Honng Kong (HKG) HHonng g KKoong (HKG) Flights from Yaangon ((RGN)
KA251 1 2 4 6 RGN HKG 1:10 5:35 Dragon Air KA250 1 3 5 7 HKG RGN 21:50 23:45 Dragon Air
*PPleaasee noote thee dday change for the deparrture time too Hong Kongg.
Flliggh htss ffroom m Yangon (RGN) to Guanng Zhouu (CAN) Flliggh htss ffroom m Guang Zhou (CCAN) to Yangonn (RGN)
8M711 2 4 7 RGN CAN 8:40 13:15 MAI CZ3055 3 6 CAN RGN 8:40 10:30 China Southern Airlines
CZ3056 3 6 RGN CAN 11:20 15:50 China Southern Airline 8M712 2 4 7 CAN RGN 14:15 15:45 MAI
CZ3056 1 5 RGN CAN 17:40 22:15 China Southern Airline CZ3055 1 5 CAN RGN 14:45 16:35 China Southern Airlines
FFlighhts ffroom Yanggon (RGN) to Koolkata (CCCU) FFlighhts ffroom Kolkkata (CCUU) to Yaangon (RRGN)
Flight No. DDayss From To ETD ETA Operated by: Flight No. DDayss From To ETD ETA Operated by:
AI228 5 RGN CCU 18:45 19:45 Air India AI227 1 5 CCU RGN 10:35 13:20 Air India
AI234 1 5 RGN CCU 13:40 16:55 Air India (via GAY) AI233 5 CCU RGN 13:30 18:00 Air India (via GAY)
Fliggh htss ffrom Yanngon (RGGN) to GGaya (GAAY) Fliggh htss ffrom Gayya (GAY) to Yanngon (RGGN)
8M 601 1 3 5 6 RGN GAY 10:30 11:50 MAI 8M 602 1 3 5 6 GAY RGN 12:50 16:00 MAI
AI234 1 5 RGN GAY 13:40 15:00 Air India AI233 5 GAY RGN 15:00 18:00 Air India
Fligghtts frrom Yanngon (RGGN) to TTokyo (NNRT) FFliightts frrom Tokkyo (NRTT) to Yaangon (RRGN)
NH914 1 3 6 RGN NRT 22:00 06:40+1 ALL NIPPON Airways NH913 1 3 6 NRT RGN 11:10 17:05 ALL NIPPON Airways
FFliggh htss ffrom Yanngon (RGGN) to SSeoul (ICCN) FFliggh htss ffrom Seooul (ICN)) to Yanngon (RGGN)
KE472 1 3 5 7 RGN ICN 0:05 8:00 Korean Air KE471 1 2 3 4 5 6 7 ICN RGN 18:40 22:55 Korean Air
OZ7463 4 7 RGN ICN 0:50 8:50 Asiana OZ4753 3 6 ICN RGN 19:30 23:40 Asiana
Flligghtss ffrom Yanngon (RGGN) to DDoha (DOOH) Flightts frrom Dohha (DOH) to Yangon (RRGN)
QR619 1 2 3 4 5 6 7 RGN DOH 8:00 11:45 Qatar Airways QR618 1 2 3 4 5 6 7 DOH RGN 21:05 06:29+1 Qatar Airways
Flliggh htss ffroom m Yangon (RGN) to Nay Pyi Taww (NYT) Flliggh htss ffroom m Nay Pyyi Taw (NNYT) to Yangonn (RGN)
Flight No. DDayss From To ETD ETA Operated by: Flight No. DDayss From To ETD ETA Operated by:
FMI-A1 1 2 3 4 5 RGN NYT 7:30 8:30 FMI Air Charter FMI-A2 1 2 3 4 5 NYT RGN 8:50 9:50 FMI Air Charter
FMI-B1 1 2 3 4 5 RGN NYT 11:30 12:30 FMI Air Charter FMI-B2 1 2 3 4 5 NYT RGN 13:00 14:00 FMI Air Charter
FMI-C1 1 2 3 4 5 RGN NYT 16:30 17:30 FMI Air Charter FMI-C2 1 2 3 4 5 NYT RGN 18:00 19:00 FMI Air Charter
FMI-A1 6 RGN NYT 8:00 9:00 FMI Air Charter FMI-A2 6 NYT RGN 10:00 11:00 FMI Air Charter
FMI-A1 7 RGN NYT 15:30 16:30 FMI Air Charter FMI-A2 7 NYT RGN 17:00 18:00 FMI Air Charter
FFliightts frrom Yangoon (RGN) to Manndalay ((MDY) FFliightts frrom Manddalay (MDDY) to YYangon (RGN)
Y5-234 1 2 3 4 5 6 7 RGN MDY 6:15 7:30 Golden Myanmar Airlines Y5-233 1 2 3 4 5 6 7 MDY RGN 8:10 9:25 Golden Myanmar Airlines
YH 909 2 4 6 7 RGN MDY 6:30 8:10 Yangon Airways YH 910 1 3 MDY RGN 7:40 10:30 Yangon Airways
YH 917 1 2 3 4 5 6 7 RGN MDY 6:10 8:30 Yangon Airways YH 918 1 2 3 4 6 7 MDY RGN 8:30 10:25 Yangon Airways
YH 727 1 5 RGN MDY 11:15 13:25 Yangon Airways YH 728 1 5 MDY RGN 9:10 11:05 Yangon Airways
YH 731 1 2 3 4 5 6 7 RGN MDY 15:00 17:10 Yangon Airways YH 732 1 2 3 4 5 6 MDY RGN 17:10 19:15 Yangon Airways
W9 501 1 2 3 4 RGN MDY 6:00 7:25 Air Bagan W9 502 1 2 3 4 MDY RGN 16:10 18:15 Air Bagan
K7 222 1 2 3 4 5 6 7 RGN MDY 6:30 8:40 Air KBZ K7 223 1 2 3 4 5 6 7 MDY RGN 9:00 11:05 Air KBZ
YJ 201 1 2 3 4 5 6 7 RGN MDY 11:30 12:55 Asian Wings YJ 202 1 2 3 4 5 6 7 MDY RGN 16:00 17:25 Asian Wings
Days - (1) Monday (2) TTueesdaay (33) WWeddnessdaay (4) Thursdayy (5) Friday (6) SSaturday (7) Suunday Days - (1) Monday (2) TTueesdaay (33) WWeddnessdaay (4) Thursdayy (5) Friday (6) SSaturday (7) Suunday
June 12-18, 2014
Myanmar Business Today
mmbiztoday.com
IT & TELECOM
29
Myanmar Summary
Myanmar Summary
Myanmar Summary
Apple Allows 'Approved' Virtoul Correncies in Apps
Supriya Kurane
A
ppIe nc wIII IeL soILwure
deveIopers IncIude vIrLu-
uI-currency LrunsucLIons
In LIeIr uppIIcuLIons, puvIng LIe
wuy Ior new Iorms oI money Lo
uppeur on IPIones und IPuds.
Apps muy IucIIILuLe LrunsmIs-
sIon oI upproved vIrLuuI curren-
cIes provIded LIuL LIey do so In
compIIunce wILI uII sLuLe und
IederuI Iuws Ior LIe LerrILorIes
In wIIcI LIe upp IuncLIons,
AppIe suId In un upduLe Lo ILs
App SLore revIew guIdeIInes.
AppIe dId noL provIde deLuIIs
on LIe upproved vIrLuuI curren-
cIes.
VIrLuuI currencIes ure noL
bucked by uny governmenL or
cenLruI bunk und ure bougIL
and sold on a peer-to-peer net-
work IndependenL oI cenLruI
conLroI.
Several US state regulators
are looking to toughen rules
on LIe use oI LIe conLroversIuI
crypLocurrency und Iuve over
LIe IusL Iew monLIs wurned In-
vesLors Lo consIder LIe rIsks us-
socIuLed wILI vIrLuuI currencIes
beIore LrudIng In LIem.
usL week, suLeIIILe TV operu-
Lor DIsI NeLwork suId IL wouId
uccepL bILcoIn puymenLs Irom
cusLomers Irom LIe LIIrd quur-
Ler, joInIng compunIes sucI us
OversLock.com nc und Zyngu
nc In uccepLIng LIe dIgILuI cur-
rency.
Apple Inc ._ ,.~- iphone,
ipad .:..~.. ...~e.,._e
. . ._ .: . ... . ._ (Virtual
Currencies) ~.....:~~..~:.
._~:.~.,~~. .~.~....:.
.~:._e .q._.
~. .| Virtual CurrenciesApplication
._ ...~e.,._e ..._.:.
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~..q ~, . -._ .. .....:..
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StoreReview ~ .e: _..~ ~q . q
._.
...: ~.....:~~...._
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~:. ~_.,._~_:_...q......
Apple . ..:q~._ ~..|.,.
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Telenor Myunmur to Sell
SIM Curds in September
Kyaw Min
N
orwegIun LeIecoms ser-
vIces provIder TeIenor
suId IL wIII sLurL seIIIng
ILs SM curds In Myunmur In
SepLember.
TeIenor Myunmur, wIIcI won
u herceIy-conLesLed buLLIe Ior
LeIecoms IIcences In Myunmur
IusL June uIong wILI QuLur-
based Ooredoo, said no pre-
regIsLruLIon wouId be requIred
Lo geL u SM curd und cusLomers
wIII receIve IL ImmedIuLeIy once
LIey puy.
TIe hrm`s rIvuI Ooredoo IusL
monLI suId IL wIII IuuncI G
mobIIe SM curds In Myunmur
someLIme beLween JuIy und
SepLember.
TeIenor`s SM curds wIII be uL u
hxed prIce oI K1,oo ($1.6) wILI
InLeresLIng promoLIons und wIII
work ImmedIuLeIy upon InserLIng
InLo LIe mobIIe pIone, LIe hrm
suId In u reIeuse.
TIere wIII be no uge IImIL und
no limit on the number of SIM
curds purcIused us Iong us LIe
cusLomers cun presenL un Iden-
LIhcuLIon curd, IL udded.
TeIenor suId ILs zG neLwork
wIII normuIIy provIde 1oo Kbps
Lo 1o Kbps wILI Lrumc, wIIIe
ILs G neLwork wIII provIde ;oo
Kbps Lo 1Mbps In peuk Iours
wIen LIe InLerneL Lrumc Is IIgI
on LIe neLwork und q-6Mbps In
o-peuk Iours.
TIe hrm, wIIcI uIso operuLes
in Bangladesh, India, Pakistan
und TIuIIund, suId IL wIII muke
uvuIIubIe ILs qG TE servIces
once LIere Is sumcIenL TE
enabled mobile phones usage in
LIe murkeL.
TeIenor neLwork wIII comprIse
oI 8,ooo buse sLuLIons In Myun-
mur. L suId buIIdIng LIe hrsL
1,ooo buse sLuLIons Is LIe mosL
cIuIIengIng, und uILer LIuL LIe
hrm wIII be ubIe Lo buIId oo Lo
qoo sLuLIons u monLI.
TeIecom IndusLry Is expecLed
Lo drIve IoreIgn dIrecL InvesL-
menLs (D) InLo Myunmur,
wIIcI opened up Lo LIe worId
IoIIowIng yeurs oI poIILIcuI und
economIc IsoIuLIon. TIe Myun-
mur nvesLmenL CommIssIon
(MC) projecLs D Lo IIL be-
Lween $q und $ bIIIIon by zo1
LIunks Lo ILs emergIng LeIecom-
munIcuLIons IndusLry.
DIrecLoruLe oI nvesLmenL und
Compuny AdmInIsLruLIon DI-
recLor GeneruI Aung NuIng Oo,
wIo Is uIso un MC member,
suId eurIIer LIuL LIe LeIecom
secLor Ius LIe IIgIesL poLenLIuI
Lo uLLrucL D InLo Myunmur,
und IL wIII ruke In zo percenL oI
LIe LoLuI D In zo1q.
K
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in
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~~,~.~.q ~ee.._e .q
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2 G . 3 G Network .:. . ~ .~
.q, ~,..:....._e .q._.
Last week, satellite TV operator Dish Network said it would accept bitcoin pay-
ments from customers from the third quarter.
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Ooredoo Co-Hosts GSMA Green
Power Ivent in Yungon
International delegates discuss challenges and opportunities for
green power adoption in Myanmar
Wai Linn Kyaw
T
Ie GSMA Green Pow-
er or MobIIe workIng
group wus IeId In Yun-
gon IuLe IusL monLI wIere ubouL
8o InLernuLIonuI und IocuI deI-
egates joined to share and dis-
cuss knowIedge regurdIng green
power udopLIon.
Ross Cormuck, CEO Ooredoo
Myunmur, wIIIe ucknowIedgIng
LIe cIuIIenges Iuced In power-
Ing sILes ucross Myunmur, wus
upbeat regarding the potential
uppIIcuLIon oI InnovuLIve LecI-
noIogIes.
RoIIIng ouL und muInLuInIng
nexL generuLIon InIrusLrucLure
In un under-deveIoped counLry
oI sucI sIze und compIexILy Is
cIuIIengIng.
TIuL suId, we`ve un oppor-
LunILy Lo come LogeLIer und
coIIuboruLe, usIng LIe IuLesL In
u wIde runge oI LecInoIogIes
Lo boLI overcome power cIuI-
Ienges, ensurIng connecLIvILy
and to drive the environmental
emcIency LIuL wIII benehL My-
unmur In LIe yeurs Lo come.
Brain Theaker, Ooredoos Di-
recLor oI NeLwork ucIIILIes,
ouLIIned Ooredoo`s green pow-
er strategy, some of the goals,
InILIuLIves und cIuIIenges Iuced
by LIe LeIecommunIcuLIons
compuny us IL roIIs ouL ILs G
neLwork ucross Myunmur.
urLIer presenLuLIons Iocused
on LecInoIogy und deveIop-
menL, IncIudIng InsIgILs InLo
soIur IybrId LecInoIogIes, IueI
ceII LecInoIogy und udvunced
power munugemenL soIuLIons.
A runge oI speukers Iocused
on opportunities for invest-
ment and business models that
couId see InnovuLIons In green
LecInoIogIes uLIIIsed eecLIveIy
ucross Myunmur.
... q~.,. ,~ q~~~
q,~,_._ ~.._.....: GSMA
~e ~._ .-.~ ~, .~ . . .., .. _._
.q.. . . .~ ~. .._. .. q:.:.
~..,.......~ ~_.__._.q:
~e.:..e.:. ~..q. ~q.e~
,e.e.:.. ....~e.:..e.:.
....|. ~.e:~q..e., ._.:
~~ .q:~ .. ... .~ _.. _~._ .
.......~ ~..~._:q.:.
- ~ee_ ....:~_._...:. -e
.~.:. e.e_...:.~ .~~~
..: q ~ . _~._ .e ... ... .. ~
Ooredoo ~.~. ~,q~_e,~~
~.:~ ~~ _. , _~:..q.. . Brain
Theaker ~ .~ ~, .~ . . .., .. _._
.q.. ...~~..._...q: .e:
-e:.:. ~.~- q_.,..~.:.
.~:.._.. . ..:.. _., .:_._ ~~ .
3G .~ . e .q.~ , q~ .~ _e, ~~
..:~.|_ q._~.~.,q..:
~.~~..:.~ q...~_. ...
....:..._._. ......_~q:~
..~....~~..._...q:,_.
....:. ..:.:.~.._.,_ .._:
.:. .,.q:_._...~. ..|...
~. .._. .. q:.:.. ~~ ,_ .
._:. e_e.~.~~_...:.~ _
..~_~_..:.._~._.
~~.q:~.:..: ~_.__._.
q:~ e .:.. e ~.:.. . :_., .:_._
.....~_~..:.q:~.:_~_. .
_e...:._~:_.,.:e.~..~. .
_:~~~. .:._e _. . . :~ .~
-_..~....._~._.
June 12-18, 2014
Myanmar Business Today
mmbiztoday.com
SOCIAL SCENES
30
Aye Aye Khine, owner of A+ (Material/Creative/Cafe). Kyaw Min
Guests at the event. Kyaw Min
Alvin Chua (L) from Microsof & Petter Furberg (R), CEO of Telenor Myan-
mar, pose for a photo. Kyaw Min
Alvin Chua answer to the media. Kyaw Min Petter Furberg answer to the media. Kyaw Min
Sharad Mehrotra (L), chief marketing of cer, & Petter Furberg (R), CEO
of Telenor Myanmar, pose for a photo. Kyaw Min
Myanmar Korea ADB Financial Forum (2 Jun 2014) @ Te
Tingaha Hotel, Nay Pyi Taw
Opening remark by Dr Maung Maung Tein, Deputy Minister, Ministry of
Finance. Gunhong
Congratulatory remark by Je Yoon Shin, Chairman, Financial Service Co-
mission. Gunhong
Closing Remark by Daw Khin Saw Oo, deputy governor,Central Bank of
Myanmar. Gunhong
Myanmar Korea ADB Financial Forum. Gunhong
Myanmar Korea ADB Financial Forum. Gunhong
Opening Ceremory of A+
(Material/Creative/Cafe) Shop
U Nyan Tun Oo, minister of industry & electricity, Yangon Division.
Htun Htun Minn
U Nyan Tun Oo, minister of industry & electricity, Yangon Division.
Htun Htun Minn
Ribbon cutting. Htun Htun Minn
Grand Opening Ceremony of
Champion Construction
Materials Co.Ltd
Telenor Net Monday
June 12-18, 2014
Myanmar Business Today
mmbiztoday.com
CLASSIFIEDS
31
June 12-18, 2014
Myanmar Business Today
mmbiztoday.com
32
ENTERTAINMENT
BoHulo Toors Opens Om ce
to Tup Myunmur's Truvel Pie
B
uuIo Tours Agency
(BTA) Ius seL up ILs own
ground operations and
om cIuIIy IuuncIed un om ce In
Yangon, the Vietnam-based
bouLIque LruveI compuny un-
nounced.
TIe muIn uIm oI LIe new oI-
hce, BuuIo Tours Myunmur, Is
Lo oer InspIruLIonuI, unIque,
uordubIe und responsIbIe
LruveI experIences, IL suId.
To murk LIe openIng LIe hrm
Ius oered u specIuI puckuge,
DIscover AsIu`s GoIden und on
un 8 duy Punduw CruIse, wIIcI
oers Lours Lo uncIenL LempIes oI
Bugun, umong oLIers.
SeIecL depurLures In JuIy,
AugusL und SepLember wIII re-
ceIve u 1o percenL dIscounL, LIe
compuny suId. TIe reLuII prIce
Ior LIe Lour Is A$q1q ($8),
wIIcI IncIudes ugenL commIs-
Aung Phyo sIon.
In addition to this promo-
LIon, BTA suId IL wIII oer u
runge oI uuLIenLIc uccommodu-
LIon opLIons, unIque cuILuruI
experIences und soIL udvenLure
ucLIvILIes.
We ure uwure oI LIe dIm cuI-
ties in hotel availability and
booking travel to Myanmar,
therefore our aim is simplify
LIe bookIng process und pro-
vIde greuLer uccessIbIIILy Lo
LIe LruveI Lrude, BTA suId In u
sLuLemenL.
OLIer puckuges Irom BTA
IncIude: CIussIc Myunmur - 1q
Duys J 1 NIgILs (Yungon -
Bugun - MunduIuy - SuguIng -
nIe uke - NgupuII); Myunmur
AdvenLure - 1z Duys J 11 NIgILs
(Yungon - nIe uke - HeIo -
KeLung - MunduIuy - Amuru-
puru - Bugun - MounL Popu);
Essence oI Myunmur - 1 Duys
J 1z NIgILs (MunduIuy - PyIn
Oo wIn - Bugun - MounL
Popu - nIe uke - NgupuII -
Yungon); Ngwesuung BeucI
Breuk - q Duys J NIgILs (Yun-
gon - PuLIeIn - Ngwesuung);
und NgupuII BeucI Breuk
- q Duys J NIgILs (Yungon -
TIundwe - NgupuII).
TIe unprecedenLed cIunges
over LIe IusL coupIe oI yeurs In
Myanmar have grabbed the
worId`s uLLenLIon, suddenIy muk-
Ing LIe once-sIunned, despoL-
ruIed counLry InLo LIe L pIuce
Lo be - Ior LourIsLs, congIomer-
uLes und InvesLors uIIke.
GIobuI Lour und LruveI compu-
nIes und Iuxury rIver cruIse
operators are also looking to
bunk on LIe surge oI ockIng
LourIsLs. Muny Iuve beeIed up
LIeIr operuLIons, unnounced
new cusLom-desIgned Lour
puckuges und Iuve oered
IucruLIve dIscounLs Lo grub u
pIece oI LIe pIe.
British adventure travel
compuny Tucun TruveI In
December IusL yeur reIeused
1q new udvenLure Lours wIIcI
combIne LruveI In Myunmur
wILI LIe resL oI SouLIeusL AsIu.
CuIIIornIu-bused AmuWuLer-
wuys suId In November zo1
LIuL IL wIII IuuncI u new sIIp
und new rIver cruIse progrum
on Myunmur`s Ayeyurwudy
rIver LIIs yeur.
AmuWuLerwuys` AusLruI-
Iun purLner, AusLruIIun PucIhc
TourIng (APT), uIso unnounced
In November LIuL IL wIII IuuncI
u new rIver cruIse progrum. An-
oLIer LruveI compuny Buckyurd
TruveI, u Bungkok-bused AsIu
LruveI specIuIIsL, In November
unnounced dIscounLed promo-
tions for three of their Myan-
mur Lours Lo Iure more cIIenLs.
n zo11, over 8oo,ooo
tourists visited Myanmar, an
Increuse oI o percenL Irom LIe
prevIous yeur. n zo1z, more
LIun 1 mIIIIon IoreIgn LourIsLs
vIsILed LIe once-dIspuLed coun-
Lry und LIuL hgure Is expecLed
Lo rIse Lo uround 1. mIIIIon In
zo1.
Thunboddhuy Pugodu: Loxorioos evotion und goo,ooo Imuges oI Boddhu
H
ow muny BuddIus does
one temple need? If its
Thanboddhay Pagoda,
LIe unswer Is 8z,;. AcLuuIIy,
IL mIgIL be 8z,6. TIe LuIIy
vurIes - one`s muLI ubIIILIes
InevILubIy suer wIen one Is
wuIkIng uround In LIe sLIIng
IeuL LryIng Lo counL over IuII-
u-mIIIIon enIIgILened beIngs.
On LIe uveruge cuLIedruI
tour of Europe, tourists quietly
take in the immense stained
gIuss, LIe IIgI vuuILed ceII-
Ings und sombre uLmospIere.
The average pagoda tour on
Ella Morton
LIe oLIer Iund Is LIe compIeLe
opposILe, und In muny wuys LIe
mosL quInLessenLIuI dIerence
beLween EusL und WesL.
Thanboddhay Pagoda is a
mussIve BuddIIsL compIex In
Monywu, Myunmur. L Is u gIId-
ed worId, brIgILIy screumIng
out praise for Buddha through
coIourIuI ceIebruLIon. TIrougI-
ouL LIe ureu, eucI pIIIur und
Lower oI LIe pugodu Is cureIuIIy
und compIeLeIy covered wILI
Imuges oI BuddIu.
From statues inside the
pugodu, Lo mInIuLures cIImbIng
the sides of the building itself,
LIere ure more LIun oo,ooo
depIcLIons oI BuddIu In LoLuI.
AILIougI IL wus orIgInuIIy buIIL
In LIe eurIy 1qLI cenLury, IL
wus reconsLrucLed In 1qq, und
Is IncredIbIy preserved In ILs
goIden Iorm.
Unlike many other temples
In Myunmur, LIe enLrunce Is
noL guurded by IIons. nsLeud,
Lwo ImposIng wIILe eIepIunLs
stand out against their shim-
merIng buckdrop. SInce ILs
reconsLrucLIon, LIe pugodu Ius
been one of the largest tourist
uLLrucLIons In Myunmur, druw-
Ing uwe-sLruck LourIsLs und
pIous reIIgIous vIsILors uIIke.
Ella Morton is a writer
working on The Atlas Obscura,
a book about global wonders,
curiosities, and esoterica
adapted from Atlas Obscura.
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Temples in the ancient city of Bagan.
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Thanboddhay Pagoda near Monywa, Myanmar.