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January 29, 2020

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MANUFACTURING

European car makers express interest in Myanmar

Related imageThe Czech Republic has announced interest to assemble Skoda cars in Myanmar, U Thaung Tun, Union minister for Investment and Foreign Economic Relations, said last week. Hungary and Czech Republic made the offers during State Counsellor Daw Aung San Suu Kyi’s Europe visit last month.

However, more information on assembling Skoda vehicles in Myanmar was not provided. Hungary has offered to manufacture electric cars in Myanmar and the Ministry of Industry will cooperate. It will be an assembly plant. But first, three cars will be imported on a trial run basis to gauge their performance.

On May 30, Toyota Motor Corporation announced that it will establish Toyota Myanmar Co Ltd in Thilawa Special Economic Zone as its first vehicle production company in Myanmar, where it will locally produce the Hilux from February 2021. Investment is expected to amount to US$52.6 million. It intends to assemble around 2500 Hilux vehicles using the semi knock-down method and will hire around 130 employees.

Source: Myanmar Times 

First commercial solar power plant launched in Myanmar

Image result for Solar plant myanmarState Counsellor Daw Aung San Suu Kyi last week launched the first phase of Myanmar’s first commercial solar-power plant in Minbu, Magwe Region, adding 40MW of power to the national grid. The Minbu Solar Power Plant project, which will be completed in four phases, will have the capacity to generate 170MW of power and produce 350 million kilowatt hours per annum, which is sufficient to electrify about 210,000 households.

Construction first began in February 2018 under a Build, Operate and Transfer arrangement between Green Earth Power (Myanmar) Co and the government. The Minbu plant is part of a longer term goal to electrify the entire country by 2030, said Daw Aung San Suu Kyi. By 2021, at least 55pc of the country is expected to receive access to power. The launch of Minbu Solar Power Plant comes two days after the Ministry of Electricity and Energy (MOEE) announced substantial hikes in electricity prices for both residential and business users from today onwards.

The government incurs costs of K89 per unit to generate and distribute electricity from hydropower, and K178 per unit for electricity from natural gas, according to the MOEE. Before the hike, electricity was provided to the public at a loss of K507 billion in the 2017-18 fiscal year and losses rose to K630 billion in 2018-19, according to data from the Ministry of Planning and Finance.

Source: Myanmar Times

Textile Industry Park will be built in Mandalay

Image result for textile industryU Zaw Myint Maung, Chief Minister of Mandalay Region, said that the government will work with the Japan International Cooperation Agency (JICA) to set up textile industry park in Mandalay.

The chief minister said Mandalay welcomes investments, especially in agriculture and the garment industry, among others. Mandalay city has US$3.7 billion (K5.69 trillion) in foreign investments and K5.07 trillion in local investments. He said the Investment Law affords equal rights to citizens and foreigners alike.

Source: Myanmar Times

Businesspersons attending Rakhine State Investment Fair conduct study tour

Local and foreign businesspersons attending the Rakhine State Investment Fair on Ngapali Beach, Thandwe Township in Rakhine State, conducted study tours to new beach sites developed at Thandwe Township, Ngapali Beach and Gwa Township as well as aquatic works and cold storages.

During the study tour a prawn cold storage and a fishing village in Thandwe Township; a prawn hatchery in Gwa Township; new beach sites developed in Maung Shwelay, Mawyone and Kanthaya and hotel zone projects were visited.

Commenting on the study tour, Rakhine State Investment and Company Administration director Dr. Htoo Min Thein said, “After viewing first-hand the potentials for investment and locations where works can be conducted in Rakhine State, business persons and investors can make decisions. They can also considering upgrading the present works.”
According to Rakhine State Investment and Company Administration at the present Singapore, South Korea, China and India were doing the most investment in Rakhine State and the majority was in the energy sector.

Rakhine State Investment Fair was conducted with an aims to create investment opportunities and connect local businesses with local and foreign investor for economic development of Rakhine State and was conducted with the support of Myanmar Investment Commission, Japan International Cooperation Agency (JICA), Japan External Trade Organization (JETRO), Myanmar Survey Research Co., Ltd. (MSR) and private sector companies led by Rakhine State Government.

Source: The Global New Light of Myanmar

Osotspa builds new factory in Myanmar to produce energy drink

Image result for Osotspa builds new factory in Myanmar to produce energy drinkThailand’s Osotspa Public Company Limited, the maker of M-150 energy drink, and Loi Hein Co., Ltd., Myanmar’s largest drinking water and beverage business, held a groundbreaking ceremony for the construction of a new beverage production facility located in the Thilawa Special Economic Zone (Zone B) in Yangon at the end of November 2018.

This is Osotspa’s first production facility in Myanmar. The new beverage production facility is located on 83 rai (approximately 132,800 square meters) in the Thilawa Special Economic Zone (Zone B). It will be operated by Osotspa Myanmar Co., Ltd., a joint venture in which Osotspa PCL holds an 85% share and Loi Hein Co., Ltd. holds a 15% share.

The project represents a total investment of 2,400 million baht funded by the proceeds received from Osotspa’s initial public offering (IPO) which took place in October.

Construction of the new plant is expected to be completed and ready for operations in the fourth quarter of 2019, producing Osotspa drinks for distribution in Myanmar.

Source: Mini Me Insights

Myanmar to manufacture electric buses

Image result for Myanmar to manufacture electric busesThe signing of an agreement to manufacture electric buses and erect charging stations held at the Research and Development Bureau in Yedhashe, Myanmar.

Union Minister for Industry U Khin Maung Cho said that Myanmar will manufacture electric buses and charging stations, in cooperation with Green Power Myanmar Co Ltd, by adapting the technology of Csepel Holding Limited of Hungary.

The ultimate aim is to turn Myanmar into an electric bus and parts exporter, as well as the Southeast Asian hub for electric vehicles. The Hungarian cooperation will provide Myanmar with new manufacturing, repair and maintenance technologies. Moreover, the country can earn income from exports and generate job opportunities.

Source: The Mirror

Launching of new Mahindra Tractor by Bandoola Group of Myanmar

Image result for mahindra tractor myanmarFarmers can buy India-made tractor, Mahindra, with fifty percent-off loan according to the company’s new product launching show.

Mahindra Tractors, Rice Planters and other agricultural equipments were imported and distributed by Bandoola Enterprises Limited of Myanmar. The company is also selling new product of India-made Tractor named Four-Wheel Tractor at the current and that new product launching show was held at Mandalay.

Mahindra Tractor and Agricultural Equipments Company was regarded as most tractor selling company on 2010 and it was distributed in Myanmar since 2012.

Source: Daily Eleven

Yoma Bank, Myanmar CP Livestock sign loan agreement

YOMA Bank, one of Myanmar’s largest commercial banks, signed a loan agreement with authorized dealers of Myanmar CP Livestock (MCPL), a leading agro-industry and food business in Myanmar, on Friday, according to a press release issued by the bank. The joint agribusiness finance programme aims to facilitate livestock dealers and farmers with working capital to buy animal feed from the Myanmar CP Livestock, which is currently operating four feed mills in Yangon, Taunggyi and Mandalay, with a total capacity of around 750,000 tons per year.

This is Yoma Bank’s new innovative financing for the development of local small- and medium-enterprises. With this program, individual farmers and dealers will have access to a formal financial system to grow their livestock businesses.

Under the new loan system, applicants are not required to put up any physical collateral, typically requested by banks in Myanmar, but rather earn unsecured bank credit, based on their positive track record. The agribusiness finance program ensures to develop the country’s poultry sector by providing this need-based financing program for local farmers and other stakeholders, who might currently be excluded from the formal financial system.

Source- The Global New Light of Myanmar

 

MIC allow 16 companies for automobiles assembly

Myanmar Investment Commission (MIC) allowed 16 companies to assemble automobiles, so there were nine foreign investments and seven Myanmar citizen investments in the automobile sector.

As the foreign investments, Suzuki (Myanmar) Motor Co.,Ltd and Khaing Khaing Sang Da Group Co.,Ltd get permission to manufacture Suzuki branded cars, Tan Chong Motor Myanmar Co.,Ltd was permitted to manufacture Nissan cars, SC Auto (Myanmar) Company Limited was allowed to manufacture Scania commercial vehicles, Capital Motors Limited , Gold AYA Motors International Group Co.,Ltd , and Go Excellent (Myanmar) Co., Ltd were allowed to assemble Ford branded cars, and Daewoo Bus Myanmar Co.,Ltd was permitted to manufacture Daweoo commercial vehicles.

As for the Myanmar citizen investments, Rammer Automobile Manufacturing & Trading Co.,Ltd was permitted to manufacture Micro Bus vehicles, and Dynamic Industry Co.,Ltd , Myanmar Economic Holdings Ltd , Myanmar Motor Corporation , Public Company Limited ,Aung Gabar Motor Services Company Limited get permission for manufacturing KIA branded cars, according to MIC.

Source: Automobile

MIC allows Daewoo partnership to manufacture and sell buses in Yangon

Myanmar Investment Commission (MIC) has allowed Korea-based Daewoo Company manufacturing, assembling and maintenance services for passenger buses in Mingladon Township, Yangon Region, under a Joint Venture Investment.
The information came from the MIC’s meeting held in Yangon on August 25th. The meeting aimed to securitize the suggestion that was submitted in accordance with the MIC laws and it approved three orders of investments.
The Daewoo Bus Myanmar Company Limited Korea was given green light to manufacture Daewoo buses in Mingladon Township, Yangon Region, Yangon Golden Paragon Investment Co;LTD was allowed for Construction, Operation and Leasing of Residence and Commercial Area in Tharkayta Township, Yangon and Science and Tech International Myanmar University Co;LTD was also allowed to provide education services in the Mandalay Region. Those businesses must and are operating under the Joint-venture foreign investment laws.

Source: Daily Eleven

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