Business news from Myanmar (19 Augu

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Subject: Business news from Myanmar (19 August 1999) 


>MyaBuzz
>Business news from Myanmar (19 August 1999)
>
>C O N T E N T S
>0819-01 Big Plans for Myanmar and China Border Trade
>0819-02 Deutsche Bank and Investment Commission Meets
>0819-03 Bangladesh Studies Myanmar Agriculture and Forestry
>0819-04 Malaysia Sees Big Opportunities in Myanmar Real Estate
>0819-05 Archeological Sites Up For Tourist Visits
>0819-06 Over 90,000 Acres of Hybrid Corn Cultivated
>==============================================
>0819-01 Big Plans for Myanmar and China Border Trade
>**Plans are underway to start a new trading route between Bhamo, a
>commercial town near Chinese border and Yunan Province of China. Myanmar is
>all out on the infrastructure development of Bhamo. Recently a new
>river-pass bridge was opened in Bhamo region and yesterday a 66KV sub-power
>station was inaugurated. The Bhamo air port runway will be upgraded and
>extended soon and a container port is to be built in Bhamo.
>
>Bhamo has long been commercially active for its strategic location. Jade
>trade have been a popular business of the town, jade merchants from
>Myitkyina and Phakant (a small town in northern Kachin State famous for it
>jade explorations) use Bhamo as a transit point en route to Mandalay,
>second capital of the country.
>
>0819-02 Deutsche Bank and Investment Commission Meets
>**Deutsche Bank officials met on August 17 with the Secretary of Myanma
>Investment Commission and also with minister for Finance and Revenue.
>
>Germany's renowned bank has it own representative office in Yangon, and is
>expected to pour in more investments.
>
>The Myanmar banking sector has huge potentials for investments.
>Representatives of 45 foreign banks opened their offices in Yangon and 20
>Myanmar Citizen banks operating successfully nationwide.
>
>There are 4  state owned banks with 433 branches nationwide.  The Myanmar
>Foreign Trade Bank has 124 correspondent banks in 58 countries. Banking
>hours have been extended earlier this month 9:30 am to 3:00pm instead of
>previous 10 am to 2 pm.
>
>0819-03 Bangladesh Studies Myanmar Agriculture and Forestry
>**A Bangladeshi delegation led by Minister for Chittagaung hill track
>arrived in Yangon on the 17 August. The delegation will, during their stay
>in Myanmar, study the agriculture, forestry, and environmental conservation
>in hilly regions in Myanmar.
>
>Myanmar and Bangladesh have a long tradition of cooperation in many
>sectors. Momentous border trade between two countries is one of the several
>examples of mutual cooperation. Bangladesh invested in fisheries and
>garments sector in Myanmar.
>
>
>0819-04 Malaysia Sees Big Opportunities in Myanmar Real Estate
>**A 16 member Malaysian delegation led by Secretary of Malacca Municipal
>Council is in Yangon and discussed the matter relating to the real estate
>development on 17th August with officials of Yangon city development
>committee.
>
>Out of 25 companies investing in Myanmar, 6 are in the real estate business
>in Yangon. Modern service apartment blocks were built in and around Yangon
>to cope with the growing number of foreign entrepreneurs stationed in Yangon
>
>Malaysia's investments in Myanmar total to nearly US$ 590 million and are
>scattered in the following sectors: hotel & tourism, manufacturing and oil
>and gas sectors.
>
>0819-05 Archeological Sites Up For Tourist Visits
>The Irrawaddy Flotilla Company, a famous river transport company for more
>than 100 years is inviting for river expeditions across two vital rivers of
>Myanmar; Chindwin and Irrawaddy.
>
>"Chindwin River 2nd Reconnaissance Expedition" will start from September 17
>to 28 and will cruise from Monywa to Kindat up to Bagan. By October 20 to
>30, a second expedition begins from Mandalay to Monywa, which is a
>commercial centre of Chindwin Valley.  The valley features centuries old
>Myanmar tradition and is the special interest in the city. The voyage
>eventually will reach Bagan, the city of four million pagodas, and one of
>the richest archeological sites in Asia. Here 11th to 13th century
>architectural heritages are well preserved.
>
>0819-06 Over 90,000 Acres of Hybrid Corn Cultivated
>**Over 90,000 acres of corn was cultivated in Northern Shan State for
>1999-2000.
>
>The northern part of Shan State has fertile lands for cultivation of paddy,
>corn, maize, pineapples, and oranges.
>==============================================================
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