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Myanmar to showcase investment projects, reforms in Hong Kong’s Belt and Road forum

The newly-appointed chair of Myanmar Investment Commission (MIC) U Thaung Tun, who is also Union Minister at the Office of the Union Government, is going to lead a delegation to the third annual Belt and Road Summit in Hong Kong this week.  Demonstrated by the major economic reforms, the Myanmar government actively and enthusiastically encourages responsible investment in the country.  The high-level delegation to Hong Kong, comprising senior policymakers as well as key actors in the private sector, is the latest example of our commitment in this regard. Organised by the Hong Kong Trade Development Council, the Summit will be held from 27 June to 29 June.  This year’s Myanmar delegation includes members of the MIC, principal officials from relevant ministries, a regional minister from the Yangon government, representatives of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) as well as private businesses and investors based in…

Kaplan to open first wholly-owned campus in Yangon

Kaplan Myanmar University College, a subsidiary of US educational program provider Kaplan Inc, will open its campus on Pyay Road, Yangon, on 28 June.  The Kaplan campus in Yangon will offer University Degree programmes, Professional Certifications, MBA Programmes and short courses. The institution is targeting 1,000 students within one year.  It is also planning to open new Kaplan campuses in other Myanmar cities within three years. “Our aim is to equip Myanmar students with credentials and qualifications from an internationally recognised education provider,” Daw Khine Khine Lin, principal of Kaplan Myanmar University College said. The move comes after the Myanmar Investment Commission (MIC) in April permitted foreigners to make full capital investments in private schools in the country.  International service providers are now able to make investments in basic education schools, technical, vocational and training schools, higher education schools, subject-based schools and private schools designated by the Ministry of Education.…

Seminar at The First Belt and Road International Food Expo (Hong Kong) 2018

With the full support of Belt and Road Global Development Alliance (BARGDA), InvestHK and Meetings and Exhibitions Hong Kong (MEHK), the inaugural of The First Belt and Road International Food Expo (Hong Kong) 2018 was held from 27 - 29 June 2018 at the AsiaWorld-Expo, Hong Kong. We are honoured that our member Mr Joseph Wong, Senior Consultant of Shing Kee Group International Ltd., spoke at the seminar of The First Belt and Road International Food Expo (Hong Kong) 2018 on 28 June, with a topic "The Important Role of Cold Chain Logistics in Food Produce Supply Chan".  The seminar was well received by over 80 audiences. Please feel free to contact us for the presentation materials.

Orientation of 28-day Service-learning trip to Myanmar, organized by College of Liberal Arts and Social Sciences, City University of Hong Kong

The College of Liberal Arts and Social Sciences, City University of Hong Kong organizes a 28-day Myanmar Service-Learning Programme which will be held in June 2018. Daw Phyo Thu Zar Aung, Consul of the Consulate General of the Republic of the Union of Myanmar in Hong Kong and Macau SAR, as well as HKMMCCI Chairman Mr Tao, were invited to be the honourable guest speakers at the orientation held at City University on 21 May for students participants of the Service-Learning programme. Chairman presented our sharing to Consul-General of the Republic of the Union of Myanmar in Hong Kong. Daw Phyo Thu Zar Aung, Consul of the Republic of the Union of Myanmar in Hong Kong and Macau SAR, introduced Myanmar to programme participants and related parties. Richard Tao, Chairman of HKMMCCI, shared the work of the Chamber and his experiences in Myanmar. Richard Tao, Chairman of HKMMCCI, exchanged views with Prof Dennis Wong, Associate Dean of College of Liberal Arts…

Myanmar opens up for foreign retailers and wholesalers

Foreign businesses and joint ventures are now allowed to carry out businesses in the retail and wholesale sector, according to the latest directive from the commerce ministry.  Leading business groups hailed the move as a right step towards attracting inwards investments for Myanmar. The ministry issued the Directive 25/2018 on 9 May, authorising 100% foreign-owned companies as well as joint ventures between international and domestic investors to carry out retail and wholesale businesses.  The trade policy is essential for reforming the economy of the country. The liberalisation measure, the directive explained, was to foster competition in the sector to provide more options, cheaper options and better options for consumers across the country.  This will bring in technology and quality products for the sector, facilitate growth of small and medium-sized enterprises (SMEs), attract more foreign investments and create jobs. It will also help “prevent unfair competitions among the distributors, who are…

Mandalay investment commission approves 10 projects

The new Investment Law was implemented last year and regional investment commissions were set up.  Under the new legislation, trhe regional commissions can approve investments of up to US$5 million or K6 billion. Mandalay Investment Commission has approved five domestic investments and five foreign investments, totalling 10 investments within nine months since it was established, according to the regional Directorate of Investment and Company Administration. In Mandalay Region, the current investment volume is US$3244.995 million based on 60 permits and K4,900 billion from 148 permits under the Myanmar Investment Commission, Daw Nwe Ni Oo from the regional DICA said. Source: Myanmar Times

Senior Chinese Diplomat Song Tao Discusses Cooperation with New President U Win Myint

New President U Win Myint met with the head of the international relations department of the Communist Party of China on 25 April in Naypyitaw to discuss cooperation between the two nations. Song Tao (宋濤) was the first foreign dignitary to meet with the new president since he was sworn in last month. President Win Myint (right) speaks with Song Tao (left), minister of the International Department of the Communist Party of China, during their meeting at President House in Nay Pyi Taw on 25 April 2018 A statement from the President’s Office said they discussed national reconciliation and the peace process, enhancing bilateral friendly ties, cooperation, and exchange of visits by the heads of state of the two countries.  They also discussed building a strategic economic corridor as part of China’s ‘Silk Road’ project, which it has been pushing for since before the resignation of former president U Htin Kyaw.  Economic…

DICA Reduces SME Registration Fee

Small and Medium Enterprises (SMEs) will now only need to pay K250,000 for company registration — half of the previous amount — according to a press release by Directorate of Investment and Company Administration (DICA) on 13 March.   DICA has reduced the registration fee to K500,000 from K1 million in July 2016. The press release said that the Ministry of Planning and Finance reduced the registration fee for private companies in order to help SMEs develop and encourage unregistered enterprises to start registering. ‘‘We are trying to improve Statistics & Business Strategy set by World Bank and realize that they take measurements on time and costwhen applying for SME licenses. With that in mind, we reduced the registration fee so that SMEs can easily apply for registration,’’ U Min Zaw Oo, Director of DICA, said. Registered SMEs will have more advantages when collaborating with international companies, and so do the…

Regional Investment Commission Approves The First Kachin Project

The Kachin State Investment Commission has approved one investment involving K1,688 million since its office was opened last July. The commission is currently examining two investment applications, U Tun Kyaw Kyaw, deputy director from at the Directorate of Investment and Company Administration (DICA), explained. The approved investment is in the agriculture sector and relates to the production of rubber sheet by Hole in One Gems Company Ltd.   The project is expected to generate 38 jobs. This is the first investment approved since the Myanmar Investment Commission (MIC) decentralised and established regional investment committees in accordance with the new Investment Law. The new Investment Law enacted and promulgated last year has delegated power to regional authorities. Regional and state investment commissions, chaired by regional chief ministers, have the authority to approve investment proposals without having to seek permission from the MIC. Exceptions include capital intensive investments, investments with considerable environmental impacts…

Thilawa’s Daizen pioneers Myanmar’s logistics liberalisation

By opening up bonded warehousing to local and foreign businesses, Thilawa edges ahead as Myanmar’s logistics hub. THILAWA Special Economic Zone (SEZ) positions itself as the manufacturing and logistics hub, as an SEZ-based company starts providing bonded warehouse services to both domestic and international companies. Such logistics liberalisation will boost Thai-Myanmar cross-border trade and hence accelerate Myanmar's integration with the regional economy. Daizen Myanmar, a logistics company from Japan which joined Thilawa in 2015, recently launched the country's first ever bonded warehouse services to both local businesses and foreign suppliers. "By offering bonded warehousing to manufacturers, local businesses and foreign suppliers we show that when it comes to liberalising trade, Thilawa means business," Tomoaki Yabe, managing director of Daizen, told The Myanmar Times. Thilawa SEZ in southern Yangon is currently the only SEZ operating in Myanmar. The other two -- Kyaukphyu SEZ in Rakhine and Dawei SEZ in Tanintharyi -- are…

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