MY. CAMERA COMMERCIO ITALIA MYANMAR. weekly articles from:

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1 I. B. MY. CAMERA C. DI COMMERCIO ITALIA MYANMAR weekly articles from: ANDREA GANELLI - Vicepresidente Camera di Commercio Italia Myanmar LUCA SAPORITI - Segretario Generale Camera di Commercio Italia Myanmar SIMONA VIARIZZO - Editor newsletter Camera di Commercio Italia Myanmar

2 TO improve ties between Myanmar and the USA the American Chamber of Commerce Myanmar, the National Foreign Trade Council, the US-ASEAN Business Council, the United States Chambers of Commerce and the United States Council of International Business called for the US government to ease sanctions on Myanmar last month. Members of the US business community supported Obama s engagement in Myanmar thus far, including the lifting of import bans, the easing of finance and investment bans, the opening of a USAID office and extending both the OPIC (Overseas Private Investment Corporation) and the Export-Import Bank support. The letter also pointed to the positive election results in November in which Daw Aung San Suu Kyi s National League for Democracy won a vast majority of parliamentary seats. Vice President U Nyan Tun asked the Obama administration to lift the US sanctions on Myanmar at the meeting of Southeast Asian leaders in California in mid February. U Nyan Tun said that although the US had given economic support to other ASEAN countries, Myanmar had received little developmental assistance because volkswagen looks to increase its presence in myanmar, set assembling soon VOLKSWAGEN cars will be manufactured in Myanmar if their presence in Myanmar increases, said Melvyn Pun, CEO of Yoma German Motors, yesterday. We will begin importing parts and assembling them in Myanmar first, said the CEO, adding that a plant will be built here following an increase in the number of customers. He announced his plan after a signing ceremony between Yoma German Motors and Volkswagen at Novotel Hotel in Yangon yesterday. According to the agreement, Yoma German Motors will become a sole distributor in Myanmar for the German car manufacturer, importing passenger brands, luxury models and spare parts. A Volkswagen 3S Facility is T ural evelopment epartment and righterlite orway A signed a memorandum of understanding on the implementation of a solar home system pro ect in rural areas yesterday According to the ou, the pro ect includes enabling rural people to have access to solar home system on fair and reasonable prices within five years as of the signing date, ensuring a percent coverage across the country following the delivery of numbering million to million until, the installment of three types of at rural homes and the establishment of information and service centres uring the signing cere- mony, irector eneral U hant aw of the department and r artin amann of rigtherlite orway A inked the ou Myanmar News Agency of the sanctions. American sanctions on Myanmar were initiated in 1997 when the country was under military rule. It was not until 2012 Since last year, the UM- FCCI has been urging the US government to re-examine the sanctions list and remove some companies and individuals. This, set to be launched soon in Yangon, said Michael Rudenmark of Yoma Strategic Holdings Ltd, adding that a service centre will also be opened in Mandalay, where there are many Volkswagen owners. Though it is a safe car, its fuel consumption rate is high, said car dealer U Aung Naing. that the United States restored diplomatic ties with Myanmar, one year after current President U Thein Sein s quasi-civilian government came to power. the body argues, would create a level playing field in Myanmar for US companies with otherwise limited business power. GNLM with Irrawaddy Solar ome System to light up Myanmar rural areas

3 waste-to-energy plant in Yangon aims to reduce methane, carbon dioxide transmission THE country s first-ever waste-to-energy plant is being established in Yangon s Shwepyitha Industrial Zone and it is estimated to be finished by March 2017, according to the Yangon Region Development Department. Since October last year, the Yangon Waste to Energy Plant Project has been implemented by the YCDC and tender winner Japanese Future Engineering Cooperation agency under the agreement which was signed between Myanmar s Ministry of AN international-standard fuel-handling jetty to serve upper Myanmar will be built by the Myanmar Energy Sector Development Public Co Ltd at the junction of the Ayeyawady River and the Dokehtawaddy River in Phonetaw Village-tract in Amarapura Township, Mandalay Region. Mandalay Region is a strategic location that can link to the four corners of the country. The current jetty is in danger of fire, as it handles both cargo and fuel. The regional government has given the green light to the company, said U Ye Myint, chief minister of Mandalay Region, at a stake-driving ceremony for the jetty, which will come with several oil tankers and office buildings. The site chosen for the jetty is convenient and includes Environmental Conservation and Forestry and the Japanese government. After completion of the project, 300 Kilo Watts from 700 produced by the plant will go to Yangon residents through national grid line, planning to generate electricity from 60 tons of waste materials per day. The main purpose of establishing such project is to reduce methane and carbon dioxide transmission at a certain degree as both gas badly damage the natural environment and it is a root fire safety provisions. The green light has been given to the public company instead of a private company for the systematic management of the jetty. As such, the people can buy quality fuel at fair prices, the chief minister added. The Myanmar government previously handed over stateowned fuel stations to private entrepreneurs. To ensure the systematic development of imports, storage, distribution, buying and sale of fuel, the Myanmar Energy Sector Development Public Co Ltd was founded following cause of climate change, said Dr Aung Myat Maw, assistant head of YCDC s Environmental Conservation and Sanitation Department. The waste collection in Yangon is estimated around 1,700 tons per day. The YCDC has collected the garbage from every township and abandoned them to designated areas in Shwepyitha, Hlawga in Mingaladon, Dagon Seikkan and Dala townships every day. Tin Win Lay (Kyimyindaing) International fuel jetty to be built in Mandalay the merger of 52 fuel companies on January 1, Dr Win Myint, the company s chairperson, said: Thanks to the formation of the public company, fuel prices have declined, and people can buy quality fuel. The government can earn more revenue. The Thilawa terminal in Yangon has been built at the main sea entrance for loading and unloading of fuels. The water route is the cheapest way to transport fuel. The project is being implemented on a 41.1-acre plot and covers 32 fuel tanks and four jetties. It will have the capacity to fill 136 fuel tankers and a 500,000-gallon water tank as a fire safety measure. The project will be completed within one year and will begin operations within the next six months. Aung Thant Khaing China stands as third largest investor in Myanmar s real estate CHINA stands the third largest investor in Myanmar in real estate since 1988, U Kyaw Win Tun, director of Directorate of Investment and Company Adminstration (DICA), told Xinhua Saturday. Myanmar s real estate sector is one of the most interested sectors for foreign investors. Among them, China is the third largest investor. China s investment amounted to US $80 million in one project. The largest one is Singapore whose investment amount is billion dollars in 16 projects. These investment amounts are for 29 years period starting from fiscal year to fiscal year Meanwhile, China is standing as the first in yanmar s foreign investment with billion dollars from 1988 to December of the fiscal year Xinhua

4 Dala real estate market stays cold THOUGH the new Myanmar-Korea Friendship Bridge will soon connect Dala Township with Yangon proper, the real estate market in Dala is cold, according to real estate agents who work in downtown Dala. The bridge will facilitate the transportation from Dala to Phonegyi Street in Yangon and vice versa, said U Than Htay, a real estate agent who works on Yazathingyan Road, Dala Township, saying it will only take three minutes to get to Phonegyi Street once the bridge is complete. The government gave compensation to the households in and around the project area on Bo Min Yaung Road. Now, our dream of the Dala bridge has come true. However, the property market has not attracted many investors, as people initially expected, he added. The areas near the project in Kyansitthar Ward have attracted some entrepreneurs. However, the price has risen from K45 million (US$36,378) to K50 million ($40,420) for a 20-foot-by-60- foot plot of land. A plot measuring 40 feet by 60 feet costs around K100 million ($80,841), which is slightly higher than the previous price. Many people have made enquiries about the prices of houses in downtown of Dala Township, but few have bought properties. Entrepreneurs are worried about long-term investment because the project will take five years. Furthermore, the government plans to establish a new town (myothit) in the east and west ward of Angyi, including wards 11, 16 and 4 of Dala. The investors are worried that prices will not rise beyond their current level after project is completed, said the estate agent. In 2014, investors from downtown Yangon purchased houses purchased properties in Dala after the bridge was approved by the regional parliament, expecting large profits. At the time, a plot of land measuring 20 feet by 60 feet that had originally sold for K19 million ($15,360) rose to K37 million ($29,911). The price of a 40-footby-60-foot plot rose from K30 million ($24,252) to K50 million. Homeowners and investors in Dala are closely monitoring the market, according to the local real estate association. Soe Win Myanmar s Yangon Stock Exchange to start trading this month to YANGON start Securities trading this its trading month process with 1 listed on Yangon Stock Exchange (YSX) may start in the 3 rd week of this month, said Maung Maung Thein, President of Myanamr s Securities and Exchange Commission(SECM) yesterday. YSX was launched last December with 6 listed companies, 2 securities companies and 1 fund settlement bank, although it has not been ready for trading. Over the last two months, SECM gave securities licenses for 3 more companies and in the 3 rd week of this month, YSX will start Trial phase of KNU hydropower dam to cost $1 million company which already prepared for that operation and 5 securities companies, Maung Maung Thein told Xinhua in a telephone interview. He made no disclosure on which listed company will start up the operation, adding that other listed companies will join the trading process, subject to their readiness. YSX is in preparation for the process of ICT system for its trading platform, Maung Maung Thein revealed. KBZ Bank, Myanmar s biggest local bank, will IT is anticipated that $1 million will be used in the preliminary trial phase of a Karen National Union (KNU) construction of Baw Ka Hta hydropower dam project, located in Nyaunglebin district of Bago Region, says Saw Tar Doh Moo, the chair of the KNU central economic committee. As well as working to have a positive impact on the economy and society, together with a reduction in damages to the environment, there will be engagement with the public during the preliminary phase of the project. This is going to be an international standard project but regardless of how much of a positive impact it will have, if the public want it stopped then we will act in the manner their desire dictates. This preliminary stage is to support the right of public participation and decision making, as local citizens were not allowed serve as the fund settlement bank. Myanmar Thilawa SEZ Holdings Public Limited voiced readiness to participate in the initial trading period of YSX, President of MTSH U Win Aung also told Xinhua. Under an agreement signed on 23 December 2014, YSX is owned by Tokyo Stock Exchange and Daiwa Securities Group by 49 per cent, while the state-owned Myanmar Economic Bank (MEB) 51 per cent. If YSX s presence is at larger stage, foreign investors will be allowed to invest, according to SECM. Xinhua such privileges in the past when it came to regional projects. said Saw Tar Doh Moo. An MoU was signed between the Ministry of Electric Power and KNU Thoolei company during a meeting between both parties on 18 February for the compilation of a two year report on the preliminary experimental phase of the hydropower project. Of course we ll know [the results of the preliminary phase of the project] once the report has been released. Since project implementation is yet to even get underway, we re not in a position whereby we can say whether the report will support the building of the [hydropower] dam or not. What I do know is that there is public concern. This report will evaluate the need for companies, who are looking to expand their business enterprises, to have a harmonious relationship with local citizens so that the resources of the region don t disappear. added Saw Tar Doh Moo. There have been attempts by the State to carry out construction of the Baw Ka Hta hydropower dam three times over the last sixty two years - in 1954, 1964 and more recently 2001 but they were not successful as the area was plagued by armed conflict. Myitmakha News Agency

5 Kyauk Phyu waste incinerator project on verge of completion A K40 million project for the construction of an incinerator in the Rakhine State township of Kyauk Phyu, to easily dispose of waste by method of combustion, is on the verge of completion. Construction is nearly finished. We re just waiting on the principal piece of machinery, which has arrived in Yangon after being ordered from aboard. We will begin a trial run of the machinery once it arrives with us on 28 February. said U Maung Maung Aung, chair of the North Star charity group. Construction of the aforementioned incinerator began under the supervision of the North Star charity group at the start of January last year in the vicinity of the Kyauk Phyu cemetery, according to the charity. The average daily amount of waste emitted within the perimeters of the municipality, of between 1.5 and 2 tonnes, will be collected and incinerated by the Kyauk Phyu municipal development committee, they have made it known. The town [of Kyauk Phyu] is made up of ten wards. Rubbish tax is only paid in some wards. Waste discarded in those wards that rubbish trucks don t frequent stains the dignity of the LUKOIL launches products in Myanmar THE Russia-based LUKOIL oil company will begin selling lubricants in Myanmar this month. The lubricants will be imported via Dubai. The LUKOIL company has appointed Dubai-based Commodity Connect, a sister company of Bay Line Shipping, as their official Myanmar sales agent, which will take care of the importation of the lubricants from Dubai. We ve studied the automotive and industrial market here in Myanmar. Dependent upon the market, our brand could bring about between a 5 and 10 percent increase in sales to the market, said LUKOIL sales director Joginder Singh Dahiya. LUKOIL lubricants for buses, motorcycles, diesel engines, hydraulics, seafaring engines, industrial machines, turbines and breaks will be distributed in Myanmar after the imports begin. LUKOIL will apply a 15 percent discount to all purchases of LUKOIL products during the initial phase of distribution, according to the company s market distributor. LUKOIL is one of the world s largest vertically-integrated oil and gas companies. In 2013, its turnover was over US$140 billion, and has 150,000 employees globally, with over 6,500 service stations, exploration and marketing activities in over 40 countries around the world. Aside from LUKOIL, only one lubricant brand is officially available in Myanmar the Thailand-based PTT company. However, according to the engine lubricants market, the market also includes a number of unofficial lubricants which make their way into the country across its land borders. Myitmakha News Agency town and uglifies it s appearance. Now, all the rubbish can be taken to the incinerator and set ablaze. said a government civil servant of the Kyauk Phyu development committee. Although the town of Kyauk Phyu is recognized as Rakhine State s second capital, narrow streets and a lack of maintenance or restoration efforts has caused difficulties for rubbish collection trucks to navigate all parts of the town, resulting in some wards of the town being left out, contributing towards the unregulated disposal of waste, according to local residents. Myitmakha News Agency rom Beyond to four more foreign banks CBm grants operating license FOUR foreign banks have been granted preliminary approval by the Central Bank of Myanmar (CBM) to operate in the country, reaching 13 foreign banks in total in the country, according to the announcement of the CBM yesterday. The bid-winning foreign banks are Bank for Investment and Development of Vietnam BIDV, Taiwan s E.SUN Commercial Bank, South Korea s Shinhan Bank and the State Bank of India. According to the announcement, the preliminary approval to prepare for commencement of banking from day one of business and will have to comply with requirements laid down by the Central Bank of Myanmar. Upon fulfillment of the above-stated requirements the Central Bank of Myanmar will grant the final license (to the winners) to operate in Myanmar, the announcement said. This is the second time Myanmar has allowed foreign banks to open 100-per cent-owned branches inside the country in more than five decades following permits to nine foreign banks in October last year to operate in the country. GNLM

6 we're Back in n BuSineSS Biluchaung Hydropower Station r returns to full energy output THE 54-year-old Biluchaung Hydropower Station in Kayah State is back in operation, restoring its original strength of generating 168 megawatts following completion of its all-round rehabilitation project. The hydropower station celebrated the partial completion of the first stage in which three machines were rehabilitated last year in February under the allround rehabilitation project with the use of 6.6 billion yen of Japan s grant aid. The first stage of rehabilitation project included maintenance and replacement of turbines, generators, penstocks and 52 related parts. Following completion of the second stage for rehabilitation of remaining three machines began at the start of the previous rainy season, all six machines with installed capacity of 28 megawatts each have now been rehabilitated. Myanmar has a total of 5,235 megawatts of electricity from hydropower plants, natural gas-fired power plants, diesel-fired power plants and coal-fired power plants in , up 1822megawatts from 3413megawatts in over the past five years, seeing 34 per cent electric power coverage across the country. See page 3 >> >> From page 1 According to sources, all townships in Kayah State have electricity. The last Maese Township was electrified as of FY. During this fiscal year, electricity has reached 41 of 114 villages while works are underway to electrify the remaining 73 villages in Kayah State where 142 of 511 villages enjoy electricity. According to the Ministry of Electric Power, the number of villages with access to electricity will total 256 at the end of this fiscal year in the state which is expected to see 90 per cent electric power coverage in the years to come. Than Oo(Laymyathnar) SAMSUNG mobile phones are available on a six-month installment plan through KBZ Bank, according to the Samsung Galaxy S7 and S7 Edge launching ceremony in Yangon yesterday. Any customers who have a bank account with KBZ Bank will be able to buy the two Galaxy series of Samsung smartphones through a six-month installment payment, U Zarni Win Htet, a spokesperson of Samsung Company in Myanmar. According to the launching ceremony, Galaxy S7 and S7 Edge are priced at K900, 000. U Aung Kyaw Myo, managing director of KBZ Bank, said that zero interest is set for installment buying as Samsung Company will pay the amount of money in interest for six months. Banking service fee for the installment buying will also be paid by the company, added the managing director. The two Galaxy series of Samsung smartphones will be on sale as of 20 March at the Myanmar records trade deficit for four years in succession A TRADE deficit has been reported in Myanmar for four years in succession as the value of exports fell more than the value of imports, according to an official from the Ministry of Commerce. The country remains locked into a trade deficit this fiscal year, said Director U Win Myint of the ministry. Myanmar has been running persistent trade deficits as imports have increased more than exports since 2012, said the director, adding that the country s trade deficit is expected to continue as it is a developing country. Myanmar imported $ worth of goods until Myanmar Plaza in Yangon and the Sedona Hotel in Mandalay under a promotion programme in which buyers will be offered to have gifts worth K150, 000 and to take part in a lucky draw program in which a stock of 200 Samsung Gear S2 Classic smartphones will be available for winners. The company informed that installment buying needs registration in advance during the period from 7 to 18 March. Thein Ko Lwin this January while only exporting $ , running a deficit of US$ million for the fiscal year Necessary measures are being taken as strategy implementation in the export sector is needed for export promotion, said the director, pointing out the impact of volatility of export prices and declining exports from the country s private sector. According to the ministry, there has been a drop of $1.3 billion for the FY compared to previous fiscal years in the export of agricultural output, mineral resources, manufactured goods and others. Thein Ko Lwin Samsung Galaxy S7, S7 Edge available on six-month installment available payment on through six-month KBZ installm Bank payment through KBZ Bank

7 fi alises arra eme t ith a o toc cha e KBZ Bank, which was chosen as the only fund settlement bank by the Yangon Stock Exchange (YSX), signed a contract with the yesterday to officially enact the arrangement. KBZ was selected from among the country s top six banks by the Securities and Exchange Commission of Myanmar, said Daw Tin May Oo, a member of SECM, in her opening remarks at the signing ceremony. The bank beat out the competition to serve as the fund settlement bank of the Yangon Stock Exchange because of its strong willingness to fulfil the country s needs, said U Nyo Myint, senior managing director of KBZ Bank Ltd. The signing was held at the bank s new branch in Strand Square, near the stock exchange building. The contract jointly drawn up by the two institutions was signed by U Yin Zaw Myo, managing director of the Yangon Stock Exchange Joint-Venture Co Ltd, and U Than Cho, senior managing director of KBZ Bank Ltd. Under the contract, all trading participants (securities companies) are required to deposit funds into the collateral account of the YSX. Securities companies are required to ensure the sufficiency of funds in the accounts of each individual investor they work with. Currently, the system of the Yangon Stock Exchange is operating on a trial basis, said U Yin Zaw Myo. The bank has the widest network among private banks and has the digital integration necessary for a settlement bank, he said. We will serve buyers and sellers as soon as possible on the stock exchange, he said yesterday. The Yangon Stock Exchange is slated to launch in March. It will be the country s first modern securities market. GNLM Submission to form a gems and jewelry research body will be made during new government THE Myanmar Gems and Jewellery Entrepreneurs Association (MGJEA) has made it known that they will make a submission to the new government for the establishment of a gems and jewelry research body, in a bid to conduct research on the domestic jade market and to increase the capacity of exporting jade around the world. Civil society organisations, and those business individuals officially involved in the ade market, will be a part [of the body]. We will make a submission during the term of the new government for the forming of a jade market research entity. said U Soe Naing, central executive of the MGJEA. It is known from those involved in the jade market that there is currently no monitoring body of the jade market which gives neither criticisms nor suggestions. As a result, only uncut jade is exported to foreign countries as, despite jade being mined, there is no market within which to trade it. Many jade sellers, myself included, refrain from making demands as disapproval from those in authority could be bad for business. said jade trader U Zaw Zaw. A plan is in place to present for the formation of an organization made up of the public and civil society groups in a bid to improve the domestic jade market and enable jade from Myan- mar to be traded on international markets. Jade traders have made it known that the majority of jade enterprises within the Myanmar jade market are owned by the Chinese, accounting for 70%, with Myanmar owned enterprises making up just 30% of the market. Myitmakah News Agency Myanmar imports hit all-time high for this fiscal year IMPORTS to Myanmar reached an all time high of US$13.6 billion this January, up $162 million from the previous year, according to an official from the Ministry of Commerce. The import volumes for this fiscal year were valued at US$13.6 billion according to figures received this year until the end of January, said Director U Win Myint of the ministry. There has been an annual increase in the import of iron and steel, vegetable oil, chemical products and household goods. Imports of iron and steel, vegetable oil and chemical products increased to $75million, $18 million and 17 million respectively, said the director. According to the MIC, the real estate sector has received the most foreign investment with a volume of $230 million for this fiscal year while the mining sector receiving over $2 million, the manufacturing sector $700 million, energy sector $50 million, Hotels and Tourism $100 million and others 131 million in foreign investment.

8 NEW CITY ON T HE WAY Amarapura urban development plan to be released THE Mandalay Business Capital City Development Company is planning to publicise its urban development project, according to its managing director U San Phone Tint. The company will undertake the urban development project in Shankalay Kyun, located in Amarapura Township, Mandalay Region, said U San Phone Tint, adding that the project will follow the model of the urban development in other ASEAN countries. The project includes the reclamation of fertile lands from swampy areas near the Ayeyawady River. The managing director pledged arrangements for better shelters for people residing in the villages in the project area. The [villagers] don t have to leave their homes because they Low-cost flats offered Shwelinban Industrial Zone workers UNITS in four recently completed apartment buildings will be sold to workers in the Shwelinban Industrial Zone following the completion of power supply installation, according to the zone s development committee. The construction of 18 lowcost buildings for workers is being implemented on government property within the zone in Hlaingthaya Township, Yangon Region, through the collective contributions of factory owners. Upon completion of the pro- ect, a total of 1,080 ats will be will be provided better homes in their original places, he said. The project area is reported to have absorbed croplands and marshlands, exclusive of existing farmlands. The company will have its information centres responsible for reimbursing compensation in exchange of plots of land after the completion of the project. The urban development project will bring residential apartments, hospitals, hotels and shopping malls to over 2,000 acres of land, according to joint secretary U Thet Naing Tun of the Mandalay City Development Committee. The Mandalay Business Capital Development Company entered an agreement with the Mandalay City Development Committee at the office of the Mandalay Region Government on 1 March. sold to workers in the zone, who will be able to pay in instalments, said U Aye Thaung, chairman of Shwelinban Industrial Zone Development Committee. Each building has 60 units fitted with water and electricity supplies, added the chairman. The price per apartment is set at K6.2 million, but the prices of the ats can ary de endin on what oors they are on, he said. According to the chairman, workers at any of the zone s factories are eligible to apply to buy n r h i n is ss pro otion of e e tri it s pp the low-cost ats The sale of apartments will be carried out with transparency, the chairman added I am very interested in these apartments, as rental prices are ery hi h elsewhere, said Myint Kyaw, a security guard at a bottled water factory in the industrial zone. The Shwelinban Industrial Zone was established on an area of 1,100 acres in Hlaingthaya Township and is home to around operational and planned 180 factories. Thein Ko Lwin A DELEGATION led by Thailand s nergy inister eneral Anantaporn Kanjanarat arrived in Yangon yesterday to attend a bilateral meeting on electric power. Union Minister U Khin aung oe met the Thailand s delegation at the Yangon Electricity Supply Corporation in the afternoon of the same day. At the call, the union minister spoke of the Mongtong hydropower project to be jointly conducted by Myanmar, Thailand and China, stressing that the project should come under discussion at the bilateral meeting. The two ministers discussed the enhancement of electricity supply and the effective use of water resources for power projects. At the same venue, a meeting also occurred between Thailand s Permanent ecretary of Energy Dr Areepong Phucha-um and yanmar s Permanent ecretary of Electric Power U Htein Lwin. The meeting focused on action plans for the implementation of policies agreed at the ministerial-level meeting. Myanmar News Agency

9 Huawei s HAINA programmes launched in Myanmar HAINA programme (Hauwei Authorized Information and Network Academy) has been launched at Thanlyin Technological University orgnised by the Ministry of Science and Technology and Hauwei, a Chinese smart phone manufacturing company. The programme is mainly aimed at developing Myanmar s ICT sector by providing mobile technology trainings and certification courses to ICT students. HAINA is a not for profit partnership program that authorizes universities and colleges to deliver Huawei Certification courses to their students. The Myanmar to begin generating wind energy THE Ministry of Electric Power signed a memorandum of understanding with China Three Gorges International Corporation on electricity production from wind power in Nay Pyi Taw yesterday. The ministry s director general U Aye Hsan and Mr Lu Guojun, chairman of China Three Gorges International Corporation, inked the MoU and exchanged notes. The MoU is aimed at implementing a 30 MW wind power project in Chaungtha, Ayeyawady Region. students who graduate from the HAINA program are encouraged to attain Huawei Certification in support of a subsequent career in the ICT industry. This is part of the ICT development scheme contained in the agreement signed by the Chinese mobile manufacturer and the ministry on 14 November As part of the programme, Huawei provided both its special curricula and electronic devices to fully support the learners. This is the 147th time Huawei has conducted the programme in 20 countries and has held over 5,000 students worldwide. Thon Wathan Also present at the signing ceremony were Union Minister U Khin Maung Soe, Deputy Minister U Maw Tha Htway and other officials. According to feasibility studies, there is wind energy production potential in Myanmar, with 10 project areas in Chin State with the potential to produce 1,472 MW, 10 in Rakhine State for 1,484 MW, five in Ayeyawady Region for 478 MW and two in Yangon Region for 274 MW. Myanmar News Agency Myanma Railways to buy 18 YDM-4 engines from India MYANMA Railways under the Ministry of Rail Transportation inked an Memorandum of Understanding with the India Technology and Economical Service Company on purchasing 18 engines from the company. U Thurein Win, Managing Director of Myanma Railways, and Director Mr. S. B. Malik of the India Technology and Economic Service Company, signed the MoU on purchasing 18 new engines. U Nyan Tun Aung, Union Minister for Transport and Rail Transportation; Deputy Ministers; Transportation; Deputy Ministers; Indian Ambassador Mr. Shri Gautam Mukhopadhaya to Myanmar; Director Mr. S. B. Malik of the India Technology and Economic Service Company and officials attended the ceremony. It will cost K 1.8 million per engine and K 32.4 million for all 18 engines. These engines will be used to pull passenger trains and freight trains. Myanmar News Agency

10 Union NPED Minister discusses implementation of ASEAN Economic Community Blueprint 2025 in Thailand UNION Minister for National Planning and Economic Development Dr Kan Zaw attended the meetings for successful implementation of ASEAN Economic Community Blueprint 2025 in Thailand on 2-3 March. At the formal dinner of the ASEAN Economic Ministers on Wednesday, the Union minister discussed matters related to progress in the implementation of the ASEAN Economic Community 2015 plan, works to be done this year, the formulation of planning by respective taskforces to implement the ASEAN Economic Community Blueprint 2025 and the ongoing works of Transpacific Partnership (TPP). Moreover, the Union minister exchanged views on the outcomes of ASEAN-US TIFA Joint Council Meeting. During his stay in Thailand the Union Minister took part in the 22nd ASEAN Economic Ministers Meeting Retreat and the 14th ASEAN Economic Ministers-European Union Trade Commissioner Consultations. Myanmar News Agency S. Korean firm to establish cement factory in Thilawa SEZ this year SOUTH Korean owned Yojin Co. will establish a cement factory on 24 acres of land in Zone B in the Thilawa Special Economic Zone. Construction works for the factory will be initiated in September this year, and it is estimated to be finished within one and a half years. The total cost of the project will be around US$80 million with $50m loan from ROK-based Shinhan Bank. The loan agreement between Yojin and Shinhan Bank was recently signed at MJTD office in the Thilawa SEZ. The bank has pledged to provide the loan to Yojin Construction Co after signing a reservation agreement between Yojin and MJTD. After completion of the project, the factory will produce one million ton of cement per year, the spokesperson of the company said. The Thilawa Special Economic Zone is located on the outskirts of Yangon. It is the first Special Economic Zone built in Myanmar. Situated at around 20 km South-East of Yangon, Thilawa SEZ is the biggest commercial-industrial city in the country. Wai Yan Oo