Indo-Myanmar business meet

TRADE will be the subject of discussions during a meeting between Myanmar and Indian business figures in Yangon on January 15, and official from the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) said last week.
U Tun Shwe, head of the international relations department of UMFCCI, told said 15 Indian businessmen will come to Yangon to try and find domestic partners on a range of different ventures.
“They propose to find Myanmar businessmen who are interested in cooperating on 22 different commodities that include beans and pulses, pharmaceuticals, automobile spare parts, rice and timber. They will include both imports and exports,” U Tun Shwe said.
The Indian delegation is to be led by Mr GL Goenka and the discussions are to be held at the UMFCCI building in Yangon. Any interested parties should feel free to enrol by contacting the UMFCCI. – Htin Kyaw

Foreign investment in Myanmar soars, official figures show

YANGON – Foreign investment in military-ruled Myanmar nearly doubled in the first 10 months of last year, with the bulk coming from Chinese-backed mining projects, official figures showed on January 6.
Between January and October 2008, China invested US$855 million in Myanmar’s mining sector, making up most of the $975 million total foreign investment.
Foreign investment for the same period a year earlier was $505 million, according to the ministry of National Planning and Economic Development.
China made its massive investment in July, alongside another $5million from Singapore, $94 million from Russia and $20 million invested by Vietnam in Myanmar’s oil and gas sector, statistics showed.
The Chinese investment is the largest since Thailand invested $6 billion in the 2005-06 fiscal year for a hydroelectric dam project. – AFP

Rice exports pick up steam

LICENCES for the export of about 150,000 metric tonnes of rice have been issued by the government after exports were resumed during November, said U Kyaw Htoo, the director general of Myanma Agricultural Produce Trading Department, last week.
After Cyclone Nargis struck last May, the issuance of rice export licences was suspended until last October due to the damage and flooding to more than 2 million acres of farmland in the delta.
Myanmar exported more than 192,000 metric tonnes of rice in the 2007-08 financial year after rice export was officially allowed to offload surplus rice produced in Ayeyarwady, Bago and Sagaing divisions. – Translated by Aung Kyi

CDMA mobiles ready for Rakhine State

OVER 5000 CDMA mobiles are now ready for sale to the public in seven cities within Rakhine State, the Weekly Eleven newspaper reported last week.
The paper said altogether 5576 mobile phones will be sold to the public in Sittwe, Ann, Thandwe, Maungdaw, Kyaukphyu, Mrauk U and Myebon. Some 1433 CDMA mobiles will be set aside for Sittwe, the capital city of Rakhine State. – Translated by Aung Kyi