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Business news from Myannmar (24 Nov



Subject: Business news from Myannmar (24 November 1999) 

MyaBuzz
Business news from Myanmar (24 November 1999)

C O N T E N T S
1124-01 Thai FM Coming To Yangon
1124-02 Myanmar Officials Meet FAO Head
1124-03 New Generation Credit Card From Asia Wealth Bank
1124-04 More Hong Kong Investment Likely
1124-05 New Chinese Paddy Species To Be Launched
1124-06 Myanmar-Laos Tourism Co operation
1124-07 Diplomatic/Foreign/Economic Relations
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1124-01 Thai FM Coming To Yangon
**Thailand's Foreign Minister will pay a good will visit to Yangon at the
invitation of Myanmar's Foreign Minister this week.

It will be the Thai FM's second visit to Myanmar this year. The last visit
to Yangon was in August. The Thai Minister had fruitful talks with Myanmar
officials on border trade and entry visa exemption between the two
countries.

1124-02 Myanmar Officials Meet FAO Head
**Myanmar's Agricultural Minister met in Rome last week with the Director
General of UN's Food and Agricultural Organization. Two men discussed about
the FAO's ongoing human development and micro finance schemes in Myanmar.

The Minister was in Rome to attend the annual conference of FAO. He
addressed the conference on 17th November wherein he pointed out Myanmar's
efforts in developing agriculture work in country on self-reliance basis.

1124-03 New Generation Credit Card From Asia Wealth Bank
**Asia Wealth Bank (AWB), a leading Myanmar private bank will introduce a
range of credit cards in Myanmar soon.

The "New Generation Credit Cards" Gold and Diamond cards will allow for
credit of goods and services up to Kyats 500,000 (US$ 1562.5).

AWB is one of the 42 private banks operating in Myanmar. The bank has
initiatives for disbursing more loans for Myanmar industrialists and
farmers. Currently the bank has opened 33 branches nation wide.

1124-04 More Hong Kong Investment Likely
**Myanma Investment Commission Secretary met on 19 November with the
visiting General Manager of (H.E) Elite Finance Limited of Hong Kong.

Last October, Hong Kong's Kerry Investment Management team was in Yangon to
discuss mainly on increasing Hong Kong's investment in Myanmar with the
Myanma Investment Commission officials.

According to Myanma Investment Commission's latest account Hong Kong's
current investment in Myanmar stands at around US$ 120 million.

1124-05 New Chinese Paddy Species To Be Launched
**Myanmar and Chinese agricultural experts have successfully developed a
new hybrid paddy species. This was announced in one of the leading Myanmar
newspaper on 20th November.

The new hybrid paddy species will be distributed to the Myanmar farmers
soon. The new paddy species can guarantee a per acre yield of nearly 200
bushels.

1124-06 Myanmar-Laos Tourism Co operation
**Myanmar's Deputy Tourism Minister met in Vientiane, Laos last week with
the Chairman of Laos Tourism Authority to discuss the promotion of tourism
services between the two countries. During the first half of this year over
300,000 tourists has visited Laos.

Myanmar's deputy Minister was in Laos to attend the ceremony marking the
Visit Laos Year 1999-2000.

1124-07 Diplomatic/Foreign/Economic Relations
**This week's diplomatic, foreign and economic relations news are as
follows:

1. A 13-member group of Malaysian entrepreneurs are on their business tour
to Myanmar. The delegation met in Yangon on 12th of November with Myanmar's
Chamber of Commerce officials. The main focus of discussion between Myanmar
and Malaysian entrepreneurs was to increase Malaysian investment in
Myanmar's Industrial sector.

2.        Five member regional grouping BIMST (Bangladesh, India, Myanmar,
Sri Lanka and Thailand) agreed to form an Economic Forum during the groups'
meeting in the Bangladeshi capital, Dhaka last week. Myanmar and Bangladesh
agreed to hold more talks on trade and investment. Bangladesh side showed
particular interest for promoting trade on agricultural product.

3.      Myanmar last week got a new Bangladesh Ambassador to Myanmar

4.      Britain's envoy to Myanmar last week met in Yangon with the
Myanmar's ASEAN Economic Minister.

5. A demonstration session on bamboo work was held in Yangon under the
Japan-Myanmar technical exchange programme. A Japanese bamboo expert
demonstrated the art of making household goods with bamboo. Myanmar is
exporting more bamboo and rattan made products as well as the finished
wooden products. Last year Myanmar exported over US$ 400,000 worth of
processed wooden and bamboo products to Japan.

6. Korean traders' delegation was in Yangon under the arrangement of the
Korean Embassy. The Korean traders met in Yangon with Myanmar entrepreneurs
to explore business opportunities
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