Business news from Myanmar (17 Sept

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Subject: Business news from Myanmar (17 September 1999) 

MyaBuzz
Business news from Myanmar (17 September 1999)

C O N T E N T S
0917-01 Toshiba Assembly Plant Opening This Month
0917-02 Korean Industrialists Seek More Investment Opportunities
0917-03 Local Bank Adds More Branches
0917-04 Thai Cosmetics Being Distributed in Myanmar
0917-05 Average Annual Growth Rate 6.2% Set For Second Five-Year Plan
0917-06 Ministry News
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0917-01 Toshiba Assembly Plant Opening This Month
**Toshiba's branch in Singapore, The Golden Glory Company is launching an
assembly plant in Yangon, this month.

The plant is built in the Mingladon Industrial Zone, about 25 km off
Yangon. The assembly lines for TVs, VCRs, refrigerators, and washing
machines are expected to be operational by this month.

Golden Glory Company is not new to Myanmar. It has been importing Toshiba
electronic household goods to Myanmar for the past 10 years.

0917-02 Korean Industrialists Seek More Investment Opportunities
**Industrialists of the Korea Federation of Machinery Industry Cooperatives
held a discussion session with the Myanmar Industrial entrepreneurs in
Yangon on 15 September.

Industrialists from 14 Korean companies and 50 delegates from Myanmar
companies participated in discussion on greater mutual economic cooperation.

Korean industrialists show much interest in investing in Myanmar these
years. Big Korean names like Daewoo have industries producing electronic
goods, garments, plywood, and soon a motor vehicle assembly plant. Other
Korean industries like Segye have engaged in the garment industries.
Meanwhile, Posco has steel production plant in Mingladon 25 km off Yangon
producing steel products and GI sheets. Doopung is manufacturing electric,
electronic parts & components. Glacier Co is producing cigarette and
tobacco products for export, Mokyan Co ltd is in the PVC pipes industry,
Jona Industries and Jaewoo manufactures garments. Other small Korean
businesses are also established in Myanmar.

0917-03 Local Bank Adds More Branches
**The Asia Wealth Bank (AWB) bank, a successful local private owned bank,
is opening a new branch bank in southern province.

The AWB plans to open its 31st branch in the southern most Taninthayi
province's capital Myeik on 18 September.

The 31st branch is located in Myeik where there are huge agricultural,
agro-based industries, marine and fresh water fishing potentials.  This is
perhaps why AWB has chosen the area; AWB has a good reputation of helping
business entrepreneurs nationwide with loans and other assistance.

0917-04 Thai Cosmetics Being Distributed in Myanmar
The Thai Cosmetic Company, ICC Company Ltd has recently introduced its
various skin care products for Myanmar ladies.  They invite ladies to try
their products during their promotion blitz starting on the 17 of September
up to October 5.

The company will use its skincare products as well as modern equipment and
techniques to educate ladies to care for their skin. ICC Co, Ltd will stage
the demonstration session of skincare products in 6 shopping centers and
beauty saloons.

Cosmetics and Skin Care is a serious business in Yangon.  Recently an
International Cosmetic & Consumer Products Exposition was successfully
held, packing the Tatmadaw Hall in Yangon, shoulder to shoulder with
guests. An estimated 18,000 people attended the fair.

0917-05 Average Annual Growth Rate 6.2% Set For Second Five-Year Plan
**Based on newspaper editorials, Myanmar has set an average annual growth
rate of 6.2% during the second five-year plan from 1996-1997 to 2000-2001.

Myanmar business growth is mainly relies on the agriculture sector. By year
2050 Myanmar will have 45 million acres of land for cultivation

Over 1,200 megawatt of electricity will be generated from the four power
plants in Shweli northern Shan province bordering China; Mon province at
the south and Bago and Mandalay provinces at the central part of the
country.

0917-06 Ministry News
Every Thursdays onwards, Myabuzz will be putting in Ministry News.  This
will tackle the issues within the preceding week (with emphasis on business
and investment news) in the various ministries in the country.

Minister for Industry-1 inspected the sites for construction of soap and
cement factories in Mandalay, upper Myanmar capital. The Ministry's earlier
soap products are popular across Myanmar. The cement factory meanwhile will
be built near a lime stone mountain about 30 km off Mandalay.

Transport Minister met with the visiting Managing Director Muhibbah
Engineering Bhd and party. Minister for ASEAN Economic Affairs was present
at the meeting.

Ministry Of Construction inaugurated a bridge on Myeik-Dawei highway in
Taninthayi province. The bridge is 1,400 feet long and built at the cost of
16.1 million Kyats (US$ 50,000). Ministry has completed building 6 bridges
on the highway

Ministry of Livestock and Fisheries opened a new Fisheries Development
Bank in Pyapon Township, Ayeyawady delta region. The bank is mostly for
financing the region's farmers and fishing enterprises.
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