Business news from Myanmar (19 Octo

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Subject: Business news from Myanmar (19 October 1999) 

MyaBuzz
Business news from Myanmar (19 October 1999)

C O N T E N T S
1019-01 More ASEAN-Russian Economic Cooperation Seen
1019-02 Head Of European Chamber Of Commerce In Yangon
1019-03 More Sales At Yangon's Gem Emporium
1019-04 Myanmar Promotes Fisheries
1019-05 Myanmar Delegations Goes to South Africa
1019-06 New Alum Factory Inaugurated
1019-07 Companies In Brief
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Trading Notice: 1) Ready stock hard and soft wood available for export from
Myanmar. 2) Gold rush mining with quick return in Myanmar.  Quick permit
can be arranged. Interested parties kindly contact Mr. Chew at e-mail:
mmigroup@xxxxxxxxxxxxxxx
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1019-01 More ASEAN-Russian Economic Cooperation Seen
**ASEAN and Russia reached a consensus to intensify cooperation in the
development of the Greater Mekong Sub-region (GMS) with the special
emphasis on its economic development.

The agreement was reached during the 2nd ASEAN-Russia meeting held in
Vietnamese second capital Ho Chi Minh City last week.

Myanmar is, geographically, a part of Mekong region along with Laos,
Thailand, Vietnam and Cambodia.

ASEAN and Japan are also having dialogues on Japanese contribution for the
ASEAN economic prosperity.

1019-02 Head Of European Chamber Of Commerce In Yangon
**President of European Chamber Of Commerce of the Philippines who is
currently in Yangon met on 15th October with the Secretary of Myanma
Investment commission. Main topic of their discussion deals with
investments in Myanmar.

Two companies from the Philippines have invested over US$146 millions in
Myanmar. The ARCAM & Co. and Chinsu-Myanmar Co. of the Philippines are
engaged in the sugarcane plantation business and production of plywood and
wood based products respectively in Myanmar.

1019-03 More Sales At Yangon's Gem Emporium
**Last Friday, 97 jade lots worth US$ 2.7 million were sold at the ongoing
Mid-year Gems Emporium in Yangon. Other jewellery and jade sculptures worth
US$ 5,051 were also sold at the emporium on that day.

Meanwhile this weekend, on Saturday, a total of 22 jade lots worth over US$
1.09 million and US$ 3,641 worth of jewellery and jade sculptures were
sold. On Sunday, a total of 32 jewellery lots worth US$ 1.3 million were
sold.

The 4-days sale of jade and jewelleries in the Yangon's Mid-Year Gem
Emporium reached to US$ 6.7 million.

1019-04 Myanmar Promotes Fisheries
**Secretary 1,Khin Nyunt in his address to the ceremony marking the UN
World Food Day urged for the promotion of fisheries sector in Myanmar.

Myanmar is exporting millions of dollars worth of marine products, but it
represents only a small percentage of the actual potentials.

Myanmar is endowed with the necessary conditions to become a major fishery
nation. It has the maximum sustainable yield of 10.05 million metric tons
of marine products per year, only 0.6 million metric tons of them were
produced last year.

1019-05 Myanmar Delegations Goes to South Africa
**Myanmar's Deputy Minister of Commerce is heading the Myanma delegation to
the South Africa International Trade Fair (SAITF) to be held in South
Africa's major commercial city Johannesburg, from 19 to 23 of this month.

Myanmar will display range of its products to find new markets in Africa
and the world.  During their stay in South Africa, Myanmar delegation will
also seek economic opportunities.

1019-06 New Alum Factory Inaugurated
**A new alum factory was inaugurated in central Myanmar town of Sale, about
475 km from capital Yangon on 15th October.

The new factory is capable of producing 12 tons of alum per day. The Sale
town also has a huge fertilizer factory.

1019-07 Companies In Brief
**Every Tuesday Myabuzz will include news about companies operating in
Myanmar.  These may be trivia or information about the companies'
businesses in the country:
1. Last Monday Managing Director Of Myanmar Airport Limousine Service
Company met with the Secretary of Myanma Investment Commission to discuss
investment matters. Myanmar Airport Limousine service is established
between Myanmar's Civil Aviation Department and Advanced Communication
Company of Thailand.
2. A new company, Cornerstone Resources (Myanmar) was formed to explore
zinc in Myanmar's northeastern Longh Keng region on profit sharing basis
between Cornerstone Resources Company of Australia and Myanmar's Ministry
of Mines.
3 Big Myanmar business enterprises contributed to the ongoing second leg of
2nd London Myanmar Golf Tour in upper Myanmar's capital city, Mandalay. The
Rothmans of Pall Mall Myanmar Pte. Ltd Company, producers of London brand
cigarette, is the main sponsor. Other well-known Myanmar business
enterprises like Mandalay Rum, Max Soft Drink Factory, Mandalay Airport
Hotel and foreign businesses in Myanmar, as Wilson, Canon and other
computer companies are also the contributors of this event.
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