Plans are heard to be afoot for a second special economic zone (SEZ) in Yangon Region. Yangon Region Chief Minister U Phyo Min Thein was cited as informing Members of Parliament of the intention to build a new special economic zone in southern Yangon Region at a special meeting in early December. According to those MPs, the new SEZ will be implemented across three southern townships, namely – Dala, Kawhmu and Kungyangon. They are reported to have added that the Union Government had given support for the idea and that work would begin in 2018. Yangon Mayor is also reported to have confirmed the news. The new zone will have an international airport and a deep-sea port nearby, according to the Dala and Kungyango MPS. The Chief Minister was cited as saying that the Hanthawaddy International Airport is too far away from the city of Yangon and also that there is no more space to extend the Yangon International Airport.

Handling of investment proposals in accordance with the new Myanmar Investment Law, effective from 1 January 2016

                   The Myanmar Investment Commission will deal with investment proposals in accordance with the new Myanmar Investment Law with effect from 1 January 2016, according to Notification No. 123/2016 of the MIC dated 16 November 2016. Investors preparing their investment proposals under the Myanmar Foreign Investment Law and the Myanmar Citizens Investment Law have to submit their proposals to the Commission until by 31 December 2017. The proposals that meet that deadline will be accepted by the MIC.

21 Nov, 2016

The Myanmar Investors Development Association (MIDA) is a Yangon based non-profit organization registered with the Ministry of Homes Affairs of the Union of Myanmar in 2014, with the objective of catering to both domestic and foreign investors wishing to invest in the various sectors of the Myanmar economy.

            The MIDA now has a vacancy for a position of General Manager with the following

Responsibilities:

• Research on the current development in the economy of Myanmar.
• Identifying the opportunities for investment in the different sectors of Myanmar economy.
• Setting up data base essential for prospective investors.
• Give guidance on the preparations of presentations on the subjects of interest to investors.
• Monitoring the developments on general and business laws governing doing business in Myanmar.

Requirements:

• Degree in Economics, Law, MBA and/or relevant fields.

• A minimum of 3-5 years of working experience with a proven track record in negotiation and senior level exposure in government (including Ministerial level), inter-governmental, and/or international organization.

• Sound understanding and knowledge of Myanmar’ business environment.

• High-level interpersonal, negotiation and communication skills, including experience in cross-cultural environment and international settings.

• Ability to develop and maintain sound working relationships with government representatives, public and private sector organizations and other stakeholders.

• Demonstrated knowledge and policy, research and technical skills in the relevant area and ability to acquire them.

• Demonstrated ability to monitor and review policy and procedures.

• Very good oral and written communication skills and strong interpersonal skills, including experience in cross-cultural environment and international settings.

• Competency in computer skills with adequate knowledge of Microsoft Office and Outlook where relevant to the position.

• Excellent command of English, written and spoken.

Remuneration and Benefits:

Successful candidate will be offered the post with a probation period of three months and monthly salary commensurate with his/her personal qualifications starting from (negotiable).

How to apply:

Send your application highlighting your suitability and potential contribution to the position together with a detailed CV, including a recent passport-sized photograph and true copies of educational certificates obtained to the 5th Floor, Co-operative Business Centre, Corner of New University Avenue & Saya San Road, Bahan Township, Yangon, Myanmar. Tel: +95(9) 8635910. You can also email your application to: E-mail: myanmarida@gmail.com

Application papers should reach the MIDA by 15 September 2016.

Only short-listed candidates will be notified.

New Myanmar Investment Commission formed

                The new Myanmar Investment Commission was formed on 8 June 2016 with 11 members. The Commission is chaired by Planning and Finance Minister U Kyaw Win and Commerce Minister U Than Myint has been named vice-president while U Aung Naing Oo, MIC secretary under the previous government, keeps the same position on the new commission. Other members include: Attorney General U Tun Tun Oo, Permanent Secretaries from the commerce, planning and finance and natural resources and environmental conservation ministries, a retired director of the General Administration Department, two representatives from the Directorate of Investment and Company Administration and one from the Union of Myanmar Federation of Chambers of Commerce and Industry.

                According to secretary U Aung Naing Oo, the policies and rules on investment applications and approvals will remain unchanged under the new government. Although it currently answers directly to the President’s Office, the new MIC may become independent under the draft Myanmar Investment Law – a merger of the Foreign Investment Law and the Myanmar Citizens Investment Law. The new law is also expected to ease some restrictions on business and support an increase in foreign investment.

                                                                                                                                9 June 2016

Outbound money transfers from Myanmar are now easier

                Western Union has launched outbound money transfer services this week. Thanks to these services, people in Myanmar will now be allowed to transfer up to US$3000 a day to more than 500,000 locations around the world through Western Union’s nine local agent banks—Kanbawza Bank, CB-Bank, AYA Bank, Yoma Bank, Myanmar Apex Bank, First Private Bank, Global Treasure Bank and Myanmar Oriental Bank. Customers can transfer money without opening a bank account. Despite convenience, Western Union Services are considered more expensive than the current informal system under which an agent in one country asks their counterparts in another to pay the beneficiary, sometimes on the same day, Quick and cheap, this system is widely used by migrant workers.

                                                                                                                                9 June 2016

Developments at Thilwa SEZ

                The Second phase of a 2400-hectare special economic zone to the south of Yangon will be finished in July 2016, with residential and commercial developments to follow. The first phase of the 400-hectare Zone A was finshed last September and the second phase is almost complete.

                More than 85 percent of the land in Zone A has been reserved by 69 light industry manufacturers from across the globe. Nine of them are already exporting their products, ranging from car parts to garments and electronic gadgets. Twenty seven companies are preparing to begin operations and 33 more are starting to build factories. The Zone became commercially operational and was launched last September.

                On completion of the second phase of Zone A in July, a company called Thilawa Property Development will build residential and commercial components on 35 hectares.

                Thilawa project is a joint venture between Myanmar and Japan-each government has a 10 percent stake while a consortium of nine local companies called Myanmar Thilawa SEZ Holdings (MTSH) controls 41 pc and a Japanese private-sector consortium controls the remaining 39 pc.

                Zone A has created jobs for 2221 people and would create at least 40,000 jobs by 2018.

                Construction of Zone B is due to start at the end of 2016. It will include another industrial park on between 500 and 700 hectares. Land selection, environmental impact assessment study and design are currently being carried out for the Zone B Project.

                                                                                      25 MAY 2016