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Business news from Myannmar (17 Dec



Subject: Business news from Myannmar (17 December 1999) 

MyaBuzz
Business news from Myannmar (17 December 1999)

C O N T E N T S
1217-01 Discussion On Power Plant Construction
1217-02 Tomen Corp. Officials Hold Talks With Finance Minister
1217-03 Myanmar Two Millennia Conference In Yangon
1217-04 Western Myanmar: The Transit Trade Route
1217-05 Deep-Sea Port to Be Built
1217-06 Cotton Mill In Magwe Province
1217-07 Myanmar Statistics
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1217-01 Discussion On Power Plant Construction
**Visiting Vice-Governor of China's Yunnan Province met on 15th December
with high ranking Myanmar officials in Yangon to discuss on the joint
Myanmar China power plant construction project in Myanmar undertaken by the
Yunnan provincial government.

The Yunnan Local Government is assisting Myanmar Electrical Ministry in
building a 600-megawatt power plant in the central Myanmar province of
Mandalay.

China's CITIC Tech. Company also started work in constructing two power
plants in upper Myanmar Sagaing province.

1217-02 Tomen Corp. Officials Hold Talks With Finance Minister
**Director General of Japan's Tomen Corporation met in Yangon on 15th
December with Myanmar Finance Minister to hold talks on investment matters.

The Japanese company is operating a plastic bottle production plant in
Yangon jointly with the Myanmar Golden Star Company (MGS) Company, a
leading Myanmar soft drink manufacturer, and with an Indonesian company.

1217-03 Myanmar Two Millennia Conference In Yangon
**Myanmar Two Millennia Conference begins in Yangon on 15th December under
the sponsorship of Myanmar's Historical Research Department.

Intellectuals from 13 countries will attend the 3-day conference to
exchange views on facing the new challenges like population growth and
technological development in the coming millennium.

1217-04 Western Myanmar: The Transit Trade Route
**A major bridge on vital Yangon-Sittwe high way (close to
Myanmar-Bangladesh border) was commissioned into service on 15th December
in Myanmar's Rakhine province.

Myanmar conducts border trade with Bangladesh from the Rakhine province.
Plans are under way to link the province with Myanmar's border with China
and India.

Under this programme the region will serve as transit trading route for
border trade between Myanmar and its three neighboring countries China,
India and Bangladesh.

1217-05 Deep-Sea Port to Be Built
Myanmar officials are planning to build a deep-sea port in Myanmar's
western Rakhine province.

Building of the deep-sea port in the region is mainly for extending foreign
trade and enhancing tourism.

Main economy of the region is sea fishing, prawn and fish breeding. The
region has many beaches and ancient pagodas to attract visitors.

1217-06 Cotton Mill In Magwe Province
**A new cotton mill was inaugurated in the central Myanmar province of
Magwe on 13th December.

The Magwe province is part of the newly designated "Cotton Belt Region".
The cotton mill is one of the three cotton and textile plants planned built
in the area. The three cotton and textile plants combined is capable of
producing over 10 million pounds of cotton yarn and over 37 million yard of
cotton cloth per year.

1217-07 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. Myanmar's Timber Enterprise announced for the sale of 4,810 tons of
timber, including over 2,000 tons of teak through competitive bidding on
24th December.

2. Myanmar has entered into summer crop growing season. Yangon province has
projected to put summer paddy on 225,000 acres of land and pulses and beans
on 350,000 acres as well as edible oil crops on 120,000 acres of land
during the season.

3. Nyaungdone region in Myanmar's Ayeyawady provinces is rapidly growing
its oil and natural gas production. The region has three oil and natural
gas fields, which can explore 240 barrels of oil and 13.5 million cu ft of
natural gas per day.  Myanmar experts have started the drilling the fourth
10,000 feet deep natural gas well in the region.
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