White Paper Launching Webinar

Title: Tourism and COVID-19 in Myanmar; Priorities for Restarting Tourism

Date: 27 August 2020, 1:00 P.M

Speaker:

  • Dr. Nicole Haeusler (Senior Tourism Consultant)
  • Thu Thu Zaw (National Tourism Consultant, Hanns Seidel Foundation)
  • U Phyoe Wai Yar Zar (Managing Director of Diethelm Travel Ltd,Myanmar)
  • Daw Su Su Tin (Managing Director of Exo Travel Myanmar, Sanctum Inle Resort and Yangon Excelsior Hotel)
  • Mr. Suki Singh (Managing Director of Myanmar Hotels International and VP Operations GCP Hospitality)
  • U Myo Thwin (Vice Chairman of Myanmar Tourism Marketing Association)
  • Mr. Achim Munz (Resident Representative of Hanns Seidel Foundation)

Moderator: U Win Min (Senior Program Associate, Myanmar Center for Responsible Business)

Introductory Keynote: Daw May Myat Mon Win ( Chairperson of Myanmar Tourism Marketing Association)

Contact Address: https://us02web.zoom.us/…/register/WN_s7a78VfoRUm8WirciepqVw

Organizer: Myanmar Tourism Marketing

Insurer, bank tie up to provide bancassurance in Myanmar

Capital Taiyo Life Insurance and Myanmar Citizens Bank have announced that they will cooperate to provide life insurance products in Myanmar. Capital Taiyo Life and Myanmar Citizens Bank (MCB) signed announced in Friday that they had signed an agreement on June 29 to provide bancassurance products via MCB’s network of branches. The agreement brings about the sales, distribution, promotion and marketing of Capital Taiyo Life Insurance’s life insurance products to MCB’s customers.

Bancassurance is a business model in which banks and insurance companies work together to sell a wide variety of insurance products through the bank branches. Earlier this year, the Insurance Business Regulatory Board (IBRB) under the Ministry of Planning, Finance, and Industry issued a directive allowing banks and microfinance institutions to operate as agents selling insurance products. The MOU signed with Capital Taiyo Life Insurance will kick off a nine-month pilot project where Myanmar Citizens Bank will conduct sales of life insurance. The government’s directive allows banks to enter into partnership with two life insurance companies per bank, and Myanmar Citizens Bank selected Capital Taiyo Life Insurance as one of its partners.

Insurance companies in Myanmar can see bancassurance growing significantly and becoming the predominant sales channel in the future. Yangon Stock Exchange listed Myanmar Citizens Bank, established in 1992, is one of the first private commercial banks in the country and has nearly 50 branches covering 26 towns in the country. Capital Taiyo Life Insurance is joint venture between Capital Life Insurance, a domestic life insurance company established 2013, and Taiyo Life Insurance, one of the largest life insurance companies in Japan.

Source: Myanmar Times

New bridge infrastructure planned in Ayeyarwady, Shan

The Pathein Bridge (2), which directly connects Pathein’s Mahabandoola Road with the west bank of Ngawun River in Ayeyarwady Region, will officially open for traffic in September. The bridge, which was constructed to accommodate rising traffic as a result of housing expansion by the river, was complete in July and stress tests were conducted last week. Passenger vehicles will be able to use bridge between 5am and 7pm before the official opening next month.

Construction of the 725-meter long Pathein Bridge (2) began in November 2018. The Ministry of Construction is now seeking approval from arliament to build a new bridge in Thanlwin, Shan State, using a €8.4 million loan from Austria. The objective of the loan is to buy good quality, high-tech European products like cable-stayed bridge material, steel frames and accessories for necessary to build proper infrastructure. The current Thanlwin bridge, which connects Central Myanmar to Shan State, has been used since 1999, allowing it to accommodate only 16 tonnes of weight at a time compared to its original capacity of 30 tonnes. COnsequently, cargo from large 10-wheel trucks must be transferred to smaller vehicles to enable the goods to pass.

The entire process is too time consuming and not conducive for business. The new cable-stayed bridge will be 870 feet long and its maximum load capacity will be 60 tonnes.The loan, which is being granted by the Austrian Uni Credit Bank, interest-free and repayable within 28.5 years. This includes a 14-year grace period. The Bridges Department under Ministry of Construction completed 540 concrete bridges, 22 wooden bridges, 17 Bailey bridges, 86 cable-stayed bridges and 1,410 Box Culverts in the fourth year of this government’s term.

Source: Myanmar Times