Business news from Myannmar (15 Dec

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Subject: Business news from Myannmar (15 December 1999) 

MyaBuzz
Business news from Myannmar (15 December 1999)

C O N T E N T S
1215-01 ASEAN Immigration Meet Begins In Yangon
1215-02 Seminar On Motor Insurance By Japan's Mitsui Insurance
1215-03 Myanmar To Export Palm Oil
1215-04 New Sugar Factory In Central Myanmar
1215-05 Exhibition On Fishery Export Promotion
1215-06 Hotels For Lease
1215-07 Diplomatic/Foreign/Economic Relations
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1215-01 ASEAN Immigration Meet Begins In Yangon
**A 2-day ASEAN Immigration Departments' Director General meeting started
in Yangon on 13 December.

Delegates from ASEAN secretariats and member nations attended the first day
session of the meeting.

Visa free entry for ASEAN nations, use of smart cards as travel document,
facilitation of yachts, leisure boats and private aircraft within ASEAN and
training of Immigration officials from Cambodia, Laos and Myanmar and
Vietnam as well as other tourism and immigration issues were high on agenda
during the first day of meeting. The meeting ended on the 14th of December.

1215-02 Seminar On Motor Insurance By Japan's Mitsui Insurance
**Seminar on Traffic Policy and Loss Prevention of Motor Insurance was held
in Yangon on 13th December.

Japan's Mitsui Marine & Fire Insurance as well as the Myanma Insurance
Corporation jointly organized the seminar.

Myanmar Finance Minister and General Manager of Mitsui Insurance Company
pointed out the significance of Motor Insurance.

1215-03 Myanmar To Export Palm Oil
**Myanmar agricultural authorities are paying special attention to
extending the oil palm cultivation in Myanmar's southern Thaninthayi region.

Myanmar southern region is projected to grow palm oil on 500,000 acres of
land during the next five years.

The region is expected to produce over 1 million tons of palm oil after
reaching its target. Myanmar domestic oil consumption is around 300,000
tons per year. Over 700,000 tons can be exported overseas.

Myanmar's neighboring countries China, India and Bangladesh annually
imports over 3 million tons of edible oil. Myanmar has profound trading
links with these three countries.

1215-04 New Sugar Factory In Central Myanmar
**Myanmar Agricultural Ministry officials inaugurated a new sugar mill in
the central Myanmar town of Pyay (about 280 km north of Yangon).

The Myanmar Agricultural Ministry built the new sugar mill jointly with
Thailand's Sutech Company and is capable of producing over 21,000 tons of
sugar annually.

Myanmar's Agricultural Ministry is constructing 8 more sugar mills in the
central Myanmar provinces of Bago, Magwe and Mandalay, which are expected
to be operational during the next two years.

1215-05 Exhibition On Fishery Export Promotion
**Myanmar Fishery Association is to hold a fishery sector export promotion
exhibition in Yangon next week.

Myanmar Livestock and Fishery entrepreneurs are expected to display their
products and other fishery equipment in the exhibition starting Dec. 2.

1215-06 Hotels For Lease
**Myanmar's Hotels and Tourism authorities announced on 13th December its
plan to lease 5 hotels situated in Myanmar's 3 major tourist destinations.

According to the announcement 2 hotels in the western Myanmar towns of
Sittwe and Mrauk U (near the famous Ngapali beach) and 3 hotels the Myanmar
summer capital, Pyin Oo Lwin (formally Maymyo) with over 100 rooms are to
be leased to the entrepreneurs through bidding.

1215-07 Diplomatic/Foreign/Economic Relations
**This week's diplomatic, foreign and economic relations news are as
follows:
1. Myanmar and Caribbean nation of Jamaica established diplomatic relations
at ambassadorial level.

2. Japan-Myanmar joint economic conference was held in Yangon under the
auspices of Japan-Myanmar Economic Committee. 50 Japanese entrepreneurs
including the Vice-Chairman of Japan's Keidanren Group as well as Myanmar
officials attended the conference to discuss the regional and domestic
economic conditions.

3. Three Indian businessmen of Mumbai (formerly Bombay) based Indo-Myanmar
Chamber of Commerce met in Yangon with the Myanmar Chamber of Commerce
officials. Their topic of discussion mainly deals with the trade promotion
and banking sector cooperation.

4. 4 businessmen from Bangladesh's Chittagong Chamber of Commerce was in
Yangon and met on 7th December with the Myanmar Light Industries Minister
to discuss matters relating to mutual business interests.

5. U Tin Latt, Myanmar ambassador Extraordinary Plenipotentiary to India
was appointed last week concurrently as Myanmar Ambassador to Iran.
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