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Myanmar in 2021: Navigating Reform, Recovery & RCEP

Date: 12th January, 2021

Time: 3:00 PM (MMT)/ 4:30 PM (HKT)

Venue: Zoom Webniar

Hosted by: Myanmar Hong Kong Chamber of Commerce and Industry

Meeting Details:

This virtual event will bring together Myanmar-focused policymakers, veteran entrepreneurs and executives as well as leading journalists to discuss the crucial issues for Myanmar as the country navigates the government transition, COVID-19 and economic recovery in 2021.At MHKCCI’s September 2020 event “Politics and the Myanmar market”, the elections and their business implications were on the agenda. Fast forward to January 2021, this event will consider new policies, investment opportunities and key challenges that are expected to dominate Myanmar during this year and beyond.

Presenters (by the last name alphabetically):
– Peter Brimble (Senior Technical Adviser, DaNa Facility)
– Thompson Chau (Chief Reporter and Associate Editor, Myanmar Times) (panel chair)
– Sam Glatman (Founder, Ko Shwe Ventures)
– Josh Htet (Senior Associate, Allen and Overy)
– Kyaw Soe Htet (Digital Editor, Myanmar Times)
– Sandar Min (National League for Democracy MP and Chair of Yangon Region Hluttaw’s Finance, Planning and Economic Committee)
– Shirley Ng (Director; Thailand and South Asia, Hong Kong Trade Development Council)
– Takaaki Yabe (Deputy Managing Director, Daizen Myanmar)

*Opinions expressed by individual speakers do not represent the views of the MHKCCI. The chamber is not responsible for any of the information and views provided in the video recording.

*Registration details will be released soon.

Attaran_Bridge

New Mawlamyine Attaran Cable-stayed Bridge on East-West Economic Corridor with Japan (ODA) Loan

The construction of the new Mawlamyine old cable-stayed bridge on the East-West Economic Corridor will begin on December 30, 2020 with a JICA Japan loan (ODA) and will be completed within 39 months with a four-lane road and 60-tonne capacity. Environment cleaning of the bridge will begin on December 10 and construction will begin on December 30. On 5th January, courtyards and buildings for engineers will be built . The rest of the work will continue according to the schedule. IHI is the original contractor from Japan. This is one of four subcontractors from them. The business information is in line with the public statement.

The old cable-stayed bridge was built by the military government. Two-way traffic Trucks carry a lot of cargo, which is costly in terms of transportation, and uses a lot of time. The new steel cable-stayed bridge will have four lanes. With a tonnage of 60 tons, the flow of goods from Myawaddy on the Thai border has accelerated, and real estate, including the Moulmein Industrial Zone, is expected to have a good market. The land included in the new bridge has already received appropriate compensation, so it is a convenient business. 

The new cable-stayed bridge is a three-span steel girder with steel girders, reinforced concrete, and approaches 506 ft. Main bridge 1070 feet. The four-lane road is 68 feet wide. 60 tons of load; Completion date is 39 months from the date of commencement. Similarly, there is also a construction of the Jai (Zarthapyin) cable-stayed bridge in Kayin State on December 30.

Source: Daily Eleven

Gold-market

YGEA to go online for its gold market trading

ACCORDING to the association, the Yangon Gold Entrepreneurs
Association (YGEA)’s gold market trading will be conducted online. YGEA Chair U Myo Myint said that YGEA is launching virtual trade through the Zoom application every Sunday to lead the trading via an online system.
“We have started trading online. We also have a problem with Wi-Fi for online trade. Most of our traders are the old-age people. They cannot use phone expertly. Most of our traders are over 50 years old. Now, we are teaching them how to use the phone. Every Sunday, we are giving them knowledge via training. The virtual trade is also available through the Zoom application on every Sunday at the YGEA office. Once we’ve all learnt how to use, we will start steadily,” he elaborated.


YGEA is carrying out the gold trading through the online system intending to prevent the people from being crowded so that the spreading of COVID-19 can be prevented. “An online system has come to be in the mainstream in our effort to prevent the spreading of the pandemic. We don’t want too many people to gather. Additionally, the gold shops could save their time by trading the gold via an online system directly. Nowadays, the trading market has widely expanded with traders from states and regions being engaged,” said the YGEA chairperson.


On account of the second wave of COVID-19, the Yangon gold market was temporarily closed on 5 September 2020. During the suspension period, the pure gold fetched over K1.3 million per tical (0.578 ounces or 0.016 kilogrammes) in the domestic market. The gold was then priced at over K1.3 million in early October when the gold trading was resumed. On 1 January 2021, the pure gold in Myanmar was traded at a price of over K1.3 million per tical while the global gold price hit US$1,890 per ounce. During the first wave of COVID-19 in Myanmar, Yangon gold market was closed between 29 March and 17 May.

Source: The Global New Light of Myanmar