Business news from Myannmar (5 Nove

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Subject: Business news from Myannmar (5 November 1999) 

MyaBuzz
Business news from Myannmar (5 November 1999)

1105-01 Indonesian President On State Visit to Myanmar 
1105-02 Myanmar-India Long-term Export Deal 
1105-03 Thais On New Sugar Plant Construction
1105-04 Korean Commerce Minister in Yangon
1105-05 Panasonic Introduces New Electronic Devices
1105-06 Myanmar Statistics
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1105-01 Indonesian President On State Visit to Myanmar 
**The newly elected Indonesian President is visiting Myanmar on a state
visit, at the invitation of Myanmar's Head of State.

The Indonesian President is coming to Myanmar as a part of his tour to the
ASEAN nations from 4th -8th November. 

1105-02 Myanmar-India Long-term Export Deal 
**Myanmar Commerce Ministry officials and Indian government officials are
at a near agreement for a long-term export contract of Myanmar pulses to
India.

Myanmar has been exporting pulses and beans to India for many years. This
year meanwhile, Myanmar offered a long-term export contract with India at
more favorable price for the Myanmar side. The negotiation for the contract
is at its final stage.

Myanmar, last year, exported over 30,000 tons worth over US$ 9million of
pulses and beans to India.

Myanmar is a major producer of pulses and beans in the region. Last year
Myanmar exported 670,000 tons. This year Myanmar's pulses and beans export
is expected to reach the 700,000 tons mark.

There are high hopes for good harvest next year. The total expected
production of crops in the year 2000 will be about 1.65 million tons from a
total area of 2.4 million hectares (about 5 million acre).

1105-03 Thais On New Sugar Plant Construction
**Myanmar's Secretary of Investment Commission met on 3rd November with the
visiting Chairman of Thailand's Sutech Engineering Co. Ltd in Yangon.

The discussion was mainly on the Sutech Company's sugar plant construction
project underway in the central Myanmar sugar-growing region. 

According to the latest account released by the Myanma's Investment
Commission, the total amount of Thailand's investment in Myanmar is over US
$ 1,200 million. Thailand's main business interests in Myanmar are in
Tourism, livestock and fishery, oil exploration, timber production and in
manufacturing sectors.

1105-04 Korean Commerce Minister in Yangon
**Korean Commerce Minster accompanied by the group of Korea's Commerce
Ministry officials arrived in Yangon on 3rd November. 

A group of Korean entrepreneurs representing 13 enterprises from Korea's
Kyonggi Province is visiting Yangon on 17th November to explore business
opportunities in the country. The Korean entrepreneur delegation is
expected to meet with over 200 Myanmar entrepreneurs during their stay in
Yangon.  

1105-05 Panasonic Introduces New Electronic Devices
**Japanese Electronic giant Panasonic is introducing new modern electronic
devices to Myanmar market on 5th November.

The company will launch the Panasonic PABX telephone exchange system as
well as the new "TAU" flat screen television and range of new home
entertainment electronic goods.
Japanese electronic goods are popular with Myanmar market. Big electronic
companies like Toshiba, National and Sony are also established brands in
the country.

1105-06 Myanmar Statistics
**Every Friday Myabuzz will feature figures related to investment & trade.
>From time to time, Myabuzz will also include general Myanmar statistics
that will aid the investor in his decision-making duties:

1. As Myanmar's mining sector opened up more for the private sector
investment, the ratio between the state's investment and private sector
investment in mining sector during 1998-1999 fiscal year has widened up to
22:78.The mining sector has annual growth rate 19.2% last fiscal year. For
the next fiscal year Myanmar's mining sector is projected to make the 29.2%
growth rate.

2. The five-year economic plan adopted in the 1996-97 fiscal year is
entering its fourth year. This year the Myanmar's GNP (Gross Per National
Product) is expected to stand at 6.6%.

3. Agricultural sector in Myanmar's eastern Kayah province is growing. This
year the province has grown monsoon paddy on over 50,000 acres of land
while beans and corns are grown on 28,700 acres. The province has a total
cultivable land of over 1 million acres.
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