PWC MYANMAR WEEKLY BUSINESS INTELLIGENCE - ISSUE NO. 201 - 23 FEBRUARY 2020
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PwC Myanmar Weekly Business Intelligence Issue No. 201 23 February 2020
Financial and Business Infrastructure Policy and Regulation Tender Opportunities MIC Permitted Projects Upcoming Events
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23 February 2020
PwC PwC Myanmar Weekly Business Intelligence 2
PwC Myanmar Weekly Business Intelligence
MIC
Financial and Policy and Tender Upcoming
Issue - 201, 23 Feb 2020 Business
Infrastructure
Regulation Opportunities
Permitted
Events
Projects
Infrastructure
Infrastructure
Highlights
• “Yangon Investment Forum which is scheduled for February is suspended due to the spreading of
Transport
coronavirus, said U Thant Zin Lwin, Secretary of MIC. The investment forums are scheduled to
take place in Yangon, Sagaing, and Bago Regions during this year.” • Yangon Water Bus to use Singapore, Thai ferries when service resumes
• “Myanmar plans to let some foreigners trade local stocks from March, in an initial step toward • Govt. to build US$160 M worth Thilawa-Bago road
expanding the country’s small bourse. Expatriates residing in the nation will be the first allowed to • Grab bags $700m from Mitsubishi UFJ
trade on the Yangon Stock Exchange, with permission for other foreigners coming later in stages,
Htay Chun, a commissioner at the Securities and Exchange Commission of Myanmar” Energy
• “Myanmar will start the process of disbursing loans supported with credit assessments from the • New gas field discovered in offshore Rakhine
Myanmar Credit Bureau by April, Daw Than Than Swe, director general of the Financial Institutions • NEP Phase 1 to be finished at the end of Sept
Supervision Department under the Central Bank of Myanmar”
• Chinese company granted licence to explore Block D
Real Estate
Financial and Business • China keen to invest in Dawei SEZ
• Industrial zone in Kyaukphyu SEZ to be built at $30m
• Yangon Investment Forum suspended due to virus fear
• Taxpayers bear the costs of loss-making steel factory in Mandalay
• Transparency and corporate governance will benefit Myanmar economic growth: UK trade envoy
Waste and Water
• KB Kookmin Bank prepares to expand in Myanmar
• Wild waters: Kachin
• Myanmar prepares to let foreigners trade local stocks from March
• World Bank: Myanmar Must Push Deeper Reform for Inclusive Economic Growth
Other Infra
• Delivery app starts service in Yangon
Policy and Regulation • Three foreign companies withdraw investments from Thilawa SEZ
• DaNa Facility Unveils Report on Kachin State’s SME Ecosystem
• e-Government system crucial for country’s development: State Counsellor
• Myanmar Credit Bureau to commence operations in April
• Only 5% of land purchase applications in Yangon valid: officials
• Yangon MPs Draft Bill to Rein In Mismanagement of Public Funds
23 February 2020
• Myanmar Reportedly Set to Be Placed on Global Money-Laundering Watchlist
PwC 3
Financial and Business
23 February 2020
4
Financial and Business
Financial and Business Infrastructure Policy and Regulation Tender Opportunities MIC Permitted Projects Upcoming Events
Yangon Investment Forum suspended due to virus fear Myanmar aviation sector expected to become
profitable, but more pain ahead first
21 Feb 2020 27 Jan 2020
Yangon Investment Forum which is scheduled on 10 May 2019. Myanmar’s aviation industry is betting on a more tourist attractions in the future,” U Kyaw Nyein.
for February is suspended due to the spreading At Yangon Investment Forum (2019), Myanmar profitable future with the number of airlines now Air KBZ has also been expanding. Last year, it
of coronavirus, said U Thant Zin Lwin, Secretary State Counsellor Daw Aung San Suu Kyi said the reduced to half compared to 2017 and demand upgraded its fleet of planes and announced new
of Myanmar Investment Commission (MIC) government would create a favorable, for domestic air travel expected to catch up with destinations to Dawei , Kaw Thaung , Myeik,
The investment forums are scheduled to take transparent business environment for investors. supply. However, they will have to swallow more Sittwe, Kyaingtong, Hkamti and Loikaw. its sister
place in Yangon, Sagaing, and Bago Regions She also urged businesspersons to grasp losses in the short term before things get better. airline, Myanmar Airways International, added a
during this year. investment opportunities in Yangon Region. In a There are currently five airlines in Myanmar, new Airbus A319 to its fleet, expanding its
Currently, there is no plan to suspend Sagaing bid to bring about economic growth for future down from ten three years ago. But even though capacity by 144 passengers.
Investment Forum scheduled for March. Myanmar, the government on its part would there are fewer players now in the market, the Tanes Kumar, commercial director for Air KBZ,
Following the outbreak of coronavirus, the extend a helping hand to investors. volume of passengers flying domestic remains said even though the new routes are not yet
number of Chinese businesspersons who will below three million, according to government profitable, the main aim of adding new
discuss the Directorate of Investment and data. destinations is to expand the airline’s network
Company Administration (DICA) has declined. At those levels, demand is not sufficient to cover and connectivity. “This gives passengers more
But there is no cancellation of agreed the industry’s losses, U Kyaw Nyein, CEO of options and allows employees to learn new skills
investments, he added. Golden Myanmar Airlines (GMA), told The for more expansion in the future,” he said.
The spreading of coronavirus in China may lead Myanmar Times in a recent interview.
to stagnant businesses not only in Myanmar but But profitability is possible in the years ahead,
also in China. It may have a knock-on effect on making it a good time for the remaining airlines to Source: Myanmar Times
the countries which have economic relations with accelerate their plans for expansion to capitalise
https://www.mmtimes.com/news/myanma
China. on future demand, according to a 2019 report by
r-aviation-sector-expected-become-
“Border areas see temporary suspension. the Centre for Asia Pacific Aviation.
Cambodia and Thailand quarantine the Last year, GMA took delivery of a new aircraft, profitable-more-pain-ahead-first.html
suspected people for 14 days. Myanmar also taking its current fleet of ATR-72s to three. “With
needs to monitor the tourists,” he added. Source: Consult Myanmar the additional seats, we can now fly daily
Yangon Investment Forum (2018) was held at https://consult- compared to alternate days before. We will also
Novotel Hotel in Yangon on 9 May 2018 and myanmar.com/2020/02/21/yangon-investment- extend our destinations to include more flights to
Yangon Investment Forum (2019), at Lotte Hotel forum-suspended-due-to-virus-fear/ Dawei and Kaw Thaung, which could be potential
23 February 2020
PwC PwC Myanmar Weekly Business Intelligence 5
Financial and Business
Financial and Business Infrastructure Policy and Regulation Tender Opportunities MIC Permitted Projects Upcoming Events
Transparency and corporate governance will benefit KB Kookmin Bank prepares to expand in Myanmar
Myanmar economic growth: UK trade envoy
18 Feb 2020 19 Feb 2020
Myanmar needs to ensure that its economic of the Muslim minority in northern Rakhine. KB Kookmin Bank (KB), South Korea’s largest syndicated loans in Korea, has agreed to
growth is “a force for good” for the country’s Between 2011 and 2016 Myanmar’s GDP has bank, is preparing to acquire a corporate license cooperate with the Ministry of Planning, Finance
transition to democracy, said Paul Scully, the UK grown by an average of 7.3 percent annually and permitting it to sell advanced financial products in and Industry to privatise state-owned enterprises
Prime Minister’s trade envoy to Myanmar, during 11.8 million people have been lifted out of Myanmar. and promote projects under Public Private
his visit to the country this month. poverty in 12 years, Mr Scully pointed out. Under The bank plans to introduce new financial Partnerships.
Speaking at the launch of the Myanmar Centre the National League for Democracy-led instruments and services in retail banking, such In addition, KB plans to promote the Korea
for Responsible Business’s Pwint Thit Sa 2020 government, the growth rate has slowed slightly as housing and SME finance, corporate finance, Myanmar Industrial Complex in Hlegu township,
assessment, Mr Scully, whose father and but is still above 6pc. including trade finance and infrastructure finance, Yangon, to their numerous corporate clients in
grandfather are half-Burmese, said one way to “But growth on its own is not enough. To build a digital banking and personal banking services. South Korea and draw them to do business in
ensure that economic growth makes a positive bright future for its people Myanmar must make KB is Korea’s No.1 housing finance bank. Kim the industrial zone. With active engagement by
impact on Myanmar is for businesses to be progress across the board - on inclusion, on Chang-woo, head of KB Yangon office, said KB KB, which has the largest market share of
responsible in their governance and practices. conflict, on politics. In all of this, growth can play will leverage on its cooperative ties with the corporate financial loans among Korean banks,
The trade envoy’s visit came as the UK has a positive or negative role - we need to ensure Ministry of Construction and share its know-how foreign direct investment inflows from Korean
formally left the European Union and after economic development is a force for good,” said in housing financial products and services. companies to Myanmar is expected to increase.
Chinese leader Xi Jinping’s historic visit to the British lawmaker. Mr Kim added that KB micro-financing unit, KB KB will also conduct financial and accounting
Myanmar. It reflects the changing approach of While aid programmes are important, foreign MFI, has provided micro-housing financial education programmes in Myanmar to activate
the UK in Myanmar as well as the Southeast investments committed in Myanmar are more products for low-income householders for the small and medium-sized enterprises. Moreover,
Asian region under Prime Minister Boris than triple the amount of international first time in Myanmar. As of the end of 2019, as the No. 1 bank of Small Office Home Office
Johnson. Britain recently appointed its first development assistance, he said. approximately K12 billion has been distributed to (SOHO) finance in Korea, KB will introduce
ambassador dedicated to the Association of about 4,000 households at a lower rate than advanced and diverse SOHO loan products and
Southeast Asian Nations (ASEAN) and is products by other microfinance institutions. services for the purpose of providing financial
expected to scale up its engagement with the KB, which is also No.1 in digital banking in support for SMEs.
region. Korea, will digitise the funds dispatch process in
The visit also signals that the UK is keen to Source: Myanmar Times Myanmar with the aim of effectively preventing
engage with Myanmar and support its transition, https://www.mmtimes.com/news/transparency- illegal remittances, or the usage of illegal Hundis, Source: Myanmar Times
including economic reforms, amid the and-corporate-governance-will-benefit-myanmar- by migrant workers. https://www.mmtimes.com/news/kb-kookmin-
international backlash over Myanmar’s treatment economic-growth-uk-trade-envoy.html The bank, which is also a top provider of bank-prepares-expand-myanmar.html
23 February 2020
PwC PwC Myanmar Weekly Business Intelligence 6
Financial and Business
Financial and Business Infrastructure Policy and Regulation Tender Opportunities MIC Permitted Projects Upcoming Events
Myanmar prepares to let foreigners trade local stocks World Bank: Myanmar Must Push Deeper Reform for
from March Inclusive Economic Growth
19 Feb 2020 19 Feb 2020
Myanmar plans to let some foreigners trade local Existing rules allow overseas investors to own a YANGON—The World Bank’s latest research tariffs to cost-recovery levels while protecting
stocks from March, in an initial step toward maximum 35% of a local company. Firms must says Myanmar needs deeper reforms to achieve low-income users; following through on well-
expanding the country’s small bourse. meet 17 criteria to be eligible for listing on the strong and continuing economic growth, regulated foreign investment in the banking,
Expatriates residing in the nation will be the first main board, such as being profitable for at least including steps to strengthen financial insurance and retail sectors; and gradually
allowed to trade on the Yangon Stock Exchange, two years and having a minimum of 100 management, promote peace and enhance deregulating bank interest rates
with permission for other foreigners coming later shareholders. In the bond market, the securities environmental sustainability. The bank said these reforms will stimulate the
in stages, Htay Chun, a commissioner at the regulator is working toward a framework that The new World Bank report “Myanmar: private sector by increasing competition and
Securities and Exchange Commission of would allow companies to issue bonds potentially Economic Transition Amid Conflict; A Systematic connecting people to services and markets
Myanmar, said in an interview Tuesday in as early as the second half of 2020, Htay Chun Country Diagnostic,” says the government needs regardless of region and demographic.
Yangon. Allowing foreigners to buy stocks is one said. Public backing from senior politicians like to implement these deeper reforms to ensure The research found that the momentum of
of the ways Myanmar hopes to bolster its de facto leader Aung San Suu Kyi would help long-lasting and inclusive growth across the Myanmar’s transition has slowed recently and
otherwise moribund Myanpix equity index, which Myanmar to deepen its capital markets, he said. country. said the government must push strong policies to
is almost four years old but has only five stocks. “If they stressed the importance of the capital According to the report, Myanmar’s existing accelerate growth and ensure that benefits are
Critics say the long-delayed step is an example markets, more people would be interested in reforms have generated immediate gains by shared more widely.
of the slow pace of regulatory change in the investing here,” Htay Chun added. reducing fiscal deficits and supporting a more The bank said that Myanmar’s weak responses
Southeast Asian nation. Myanmar also plans to independent central bank to lower inflation and to the Rakhine crisis and heightened violence in
establish a second board with looser listing rules unify the exchange rate. They have also opened Kachin, Shan and Chin states have illustrated
than the main market. Htay Chun said foreigners up telecommunications and manufacturing major challenges to inclusive development.
would be allowed to trade on the second board, sectors to foreign investors as a means to According to the bank, economic growth
and that it may be set up by the third quarter of increase employment rates. decelerated from 8 percent in 2014-15 to 6.2
the year. “We’re aiming to have as many as 10 However, the World Bank said that Myanmar’s percent in 2017-18.
companies on the second board when it reforms also need to support infrastructure and
launches,” he said. Foreigners could make up efficient markets in order to secure long-term
15% of Myanmar stock trading initially, rising to economic progress. Source: Irrawaddy
as much as 40% eventually, Ryota Sugishita, Source: Deal Street Asia According to the bank, these reforms will be https://www.irrawaddy.com/news/burma/world-
chief consultant at Japan’s Daiwa Institute of https://www.dealstreetasia.com/stories/myanmar- harder to implement but the benefits can be bank-myanmar-must-push-deeper-reform-
Research, said last year. Corporate Bonds stocks-175529/ longer lasting—reforms such as raising electricity inclusive-economic-growth.html
23 February 2020
PwC PwC Myanmar Weekly Business Intelligence 7
Infrastructure
23 February 2020
8
Infrastructure Transport
Financial and Business Infrastructure Policy and Regulation Tender Opportunities MIC Permitted Projects Upcoming Events
Yangon Water Bus to use Singapore, Thai ferries when Myanmar aviation sector expected to become
service resumes profitable, but more pain ahead first
20 Feb 2020 27 Jan 2020
The Yangon Water Bus river transport service Singapore,” she added. Myanmar’s aviation industry is betting on a more tourist attractions in the future,” U Kyaw Nyein.
has ordered passenger ferries from Singapore Two ferries will service the Insein-Botahtaung profitable future with the number of airlines now Air KBZ has also been expanding. Last year, it
and Thailand to replace its old vessels once it route, while five ferries will service Nga Moe Yeik reduced to half compared to 2017 and demand upgraded its fleet of planes and announced new
resumes operation, the company that runs the street, she said. for domestic air travel expected to catch up with destinations to Dawei , Kaw Thaung , Myeik,
line said. The regional government implemented the river supply. However, they will have to swallow more Sittwe, Kyaingtong, Hkamti and Loikaw. its sister
Daw Tint Tint Lwin, chair of Tint Tint Myanmar service to reduce traffic congestion and cut the losses in the short term before things get better. airline, Myanmar Airways International, added a
Co., said it has also sought the help of a waiting time for buses, but some commuters did There are currently five airlines in Myanmar, new Airbus A319 to its fleet, expanding its
Singapore company in linking its fare payment not find it convenient due to its jetty terminals down from ten three years ago. But even though capacity by 144 passengers.
system to local mobile banking services KBZ Pay being too far from bus stops. there are fewer players now in the market, the Tanes Kumar, commercial director for Air KBZ,
and CB Pay. The estimated cost of the project is US$20 volume of passengers flying domestic remains said even though the new routes are not yet
“We are cooperating with a Singapore company million to $37 million, funded with a loan from below three million, according to government profitable, the main aim of adding new
for technical support,” she said. “We are devising KBZ Bank. data. destinations is to expand the airline’s network
a profit-sharing scheme, but we will take care of At those levels, demand is not sufficient to cover and connectivity. “This gives passengers more
the investment.” the industry’s losses, U Kyaw Nyein, CEO of options and allows employees to learn new skills
The service, which operates on the Yangon Golden Myanmar Airlines (GMA), told The for more expansion in the future,” he said.
River, has been criticised for delays and slow Myanmar Times in a recent interview.
vessels. But profitability is possible in the years ahead,
It started running in 2017 but suspended making it a good time for the remaining airlines to Source: Myanmar Times
operations in September last year to test new accelerate their plans for expansion to capitalise https://www.mmtimes.com/news/myanmar-
vessels. It does not know when it will resume on future demand, according to a 2019 report by aviation-sector-expected-become-profitable-
service. the Centre for Asia Pacific Aviation. more-pain-ahead-first.html
Daw Tint Tint Lwin said there have been delays Last year, GMA took delivery of a new aircraft,
in the installation of payment machines on the taking its current fleet of ATR-72s to three. “With
vessels. Source: Myanmar Times the additional seats, we can now fly daily
“They need one more month,” she said. “Also, https://www.mmtimes.com/news/yangon-water- compared to alternate days before. We will also
we are building jetties. We will be running soon bus-use-singapore-thai-ferries-when-service- extend our destinations to include more flights to
with seven ferries imported from Thailand and resumes.html Dawei and Kaw Thaung, which could be potential
23 February 2020
PwC PwC Myanmar Weekly Business Intelligence 9Infrastructure Transport
Financial and Business Infrastructure Policy and Regulation Tender Opportunities MIC Permitted Projects Upcoming Events
Govt. to build US$160 M worth Thilawa-Bago road Grab bags $700m from Mitsubishi UFJ
years
22 Feb 2020 20 Feb 2020
Myanmar is planning to build Thanlyin (Thilawa)- Mae Sot, Thailand through Kawkayeik-Myawady Japan’s Mitsubishi UFJ Financial Group Inc is Airport.
Bago (Kamarse) Road connected with Asia in Kayin State, from Kyaikhto to Bangkok, investing more than US$700 million in ride- Grab will expand its services to other key cities in
Highway Road with the aid of JICA and ADB Thailand through Mawlamyaing-Thanphyusayet hailing firm Grab. Myanmar this year. GrabFood will be launched
soon, according to Ministry of Construction. in Mon State, from Dawei deep seaport to The Japanese financial institution intends to for local restaurants and transportation partners
“We have a plan which is aided by the JICA and international ports, from Mawtaung to Bangkok, market a range of financial services from in Mandalay this year.
ADB. All vehicles coming from Thalyin to Yangon Thailand through Kawthoung, according to the insurance to loans to Grab’s users, Bloomberg In 2018, Grab launched its Grab Thone Bane
have to go to Htaukkyant through Bago before ministry. quoted a source as saying. (three-wheeler) service in Bagan and Mandalay
coming to Yangon. Cars coming from Pyay are Grab is also backed by Japan’s SoftBank Group city, and Grab TaxiPlus service.
jammed on the roads leading to Yangon. That’s Corp, which has invested more than $2.6 billion Grab launched its service in Myanmar in July
why we planned to build the new road,” said in the app. 2017, and has since introduced Grab Taxi Call
Kyaw Lin, Deputy Minister for Construction. The startup said its app has been downloaded service, Premium Rentals (Beat), and Grab
“The old road is leading to Bago before crossing onto more than 166 million mobile devices in the Food.
the river to Mawlamyaing and Hpa-an. The new region. It is trying to build a regional super-app
road is directly connected between Thanlyin and that offers a range of services including finance,
Kamarse. So Asia Highway Road will be payments and rides.
connected with Thilawa via this road,” said an In Myanmar, Grab has invested over $100 million
official from the ministry. (K143.5 billion) in the past four years to
The new road will connect Thilawa industrial port strengthen its position on the local taxi market.
to lower areas of Myanmar such as Mon and The company’s taxi service experienced an
Kayin states and Taninthayi Region in a short increase of 10 percent in daily rides in 2019 from
time. Moreover local products will be sent the previous year, and added more than 196,000
through this new road to other countries via more precise location points in the Grab
Thilawa industrial port in a short time. application.
The new road will be shorter than Yangon- The number of companies using Grab for
Bayargyi-Sittaung Road currently using now and Source: Eleven Myanmar Business also doubled in 2019, and the most Source: Myanmar Times
it will also deal with traffic jams. https://elevenmyanmar.com/news/govt-to-build- popular destinations for rides were Myanmar https://www.mmtimes.com/news/grab-bags-
The road will help to access from Kyaikhto to us160-m-worth-thilawa-bago-road Plaza, Junction City, and Yangon International 700m-mitsubishi-ufj.html
23 February 2020
PwC PwC Myanmar Weekly Business Intelligence 10Infrastructure Energy
Financial and Business Infrastructure Policy and Regulation Tender Opportunities MIC Permitted Projects Upcoming Events
New gas field discovered in offshore Rakhine Grab says it pumped $100M into Myanmar in
four years
17 Feb 2020 12 Feb 2020
South Korean conglomerate Posco International Shwe is a 35-year project with a remaining 29- Ride-sharing company Grab has invested over across the country this year, Toh said. GrabFood
Corporation has discovered a new gas field in year term. Commercial drillings have already US$100 million (K143.5 billion) in Myanmar in will be launched for local restaurants and
Block A3 at the Shwe natural gas project located started in A1, and will commence at the Mya gas the past four years to strengthen its position on transportation partners in Mandalay this year.
offshore Rakhine, The Myanmar Times field in A3 in 2025. the local taxi market, a senior company official “Although food delivery is increasing locally, it
understands. said Tuesday. still lags behind other countries. We have many
The company confirmed that it had found a gas Cindy Toh, country manager for Grab, said the opportunities,” said U Myat Kaung Min, head of
column of around 18 meters at its Mahar-1 company will continue investing to further GrabFood Myanmar.
exploration well after it began exploratory improve the quality of its service in Myanmar. Grab For Good will be launched in Myanmar
undersea drilling in Block A3 last month. “Grab will emphasise service quality and safety, soon.
The discovery was made more than 2,500 not only technology,” she told a briefing. “We will In 2018, Grab launched its Grab Thone Bane
meters into the seabed and could yield about 38 continue investing in expansion and partnerships (three-wheeler) service in Bagan and Mandalay
million cubic feet of natural gas per day, the to better the platform and expand the city, and Grab TaxiPlus service.
Korea Herald has reported. ecosystem.” More than 166 million people in 339 cities in
Posco International was also quoted as saying Grab launched its service in Myanmar in July Myanmar, Vietnam, the Philippines, Thailand,
that it plans to drill a couple of appraisal wells at 2017, and has since introduced Grab Taxi Call Cambodia, Malaysia, Singapore and Indonesia
the site from 2021 and development plans for the service, Premium Rentals (Beat), and Grab have downloaded the Grab app on their mobile
field will be established 2-3 years later. Food. phones. – Translated
The Shwe natural gas project consists of Blocks The company’s taxi service is popular and
A1 and A3. There are currently two existing gas experiencing an increase of 10 percent in daily
fields - Shwe and Shwe Phyu - at A1. Up until rides in 2019 from the previous year, and adding
Posco International's Mahar-1 discovery, there more than 196,000 more precise location points
was only one gas field - Mya - in A3. in the Grab application.
Posco International has a 51 percent stake in The number of businesses using Grab for
the Shwe natural gas project, while Myanma Oil Business doubled in 2019, and the most popular Source: Myanmar Times
and Gas Enterprise, KOGAS and Indian Source: Myanmar Times destinations for rides were Myanmar Plaza, https://www.mmtimes.com/news/myanmar-
companies Oil and Natural Gas Corporation and https://www.mmtimes.com/news/new-gas-field- Junction City, and Yangon Airport. aviation-sector-expected-become-profitable-
Gail Limited hold the remaining 49pc. discovered-offshore-rakhine.html Grab will expand its services to other key cities more-pain-ahead-first.html
23 February 2020
PwC PwC Myanmar Weekly Business Intelligence 11Infrastructure Energy
Financial and Business Infrastructure Policy and Regulation Tender Opportunities MIC Permitted Projects Upcoming Events
NEP Phase 1 to be finished at the end of Sept Chinese company granted licence to explore Block D
11 Feb 2020 15 Feb 2020
Phase 1 of National Electrification Project (NEP) megawatts of electricity will be generated in PHNOM PENH (The Phnom Penh Post/ANN) - A He noted that the ministry is prioritising attracting
will be finalized at the end of September this year 2021-22 FY and 3,000 megawatts of electricity in three-year exploration licence in the Gulf of more investors to the mines and energy sector in
to provide electricity to 626,757 family 2025-26 FY. Thailand’s Block D, off the coast of Cambodia, the Kingdom.
households from 5,080 villages, said Union About 47.25 per cent of family households had has been granted to a Chinese-owned Block D is a 5,500sq km zone in the Gulf of
Minister Win Khaing for Electricity and Energy. gained access to national grid in 2018-19 FY and Cambodian Resources Energy Development Co Thailand that was previously licensed to local
The government received a US$310 million loan it will be reached to 55.72 per cent in 2019-20 Ltd. firm CPHL (Cambodia) Co Ltd.
from the World Bank (WB) to implement the FY, according to figures of 2019-20 FY. Chinese-owned Cambodian Resources Energy The government revoked that exploration licence
NEP. Myanmar invested Ks2.327 trillion within about Development Co Ltd has been granted a three- in May 2016 after the company failed to meet the
Myanmar has 51 state owned and private owned three-year time and generated over 900 year exploration licence in the Gulf of Thailand’s terms of the agreement.
power stations across the country and they can megawatts of electricity more. It will be over Block D, off the coast of Cambodia, a senior According to Sour, Cambodia has divided
produce over 5,600 megawatts of electricity. The 1,000 megawatts in mid-2020. official at the General Department of Petroleum regions for kerosene exploration into six offshore
ministry is implementing three power projects in “At the present, Myanmar is using from 15 to 19 told The Post on Thursday. and 19 onshore blocks.
Kanpauk, Ahlone and Mielaunggaint, according per cent of electricity more annually and the General Department of Petroleum director- Sour said the ministry is currently negotiating an
to the ministry. ministry is implementing to meet the electricity general Cheap Sour said the Ministry of Mines agreement with Canadian firm EnerCam Co to
Over 4.9 million out of 10.8 million family demand. The government allocated funds for the and Energy and Cambodian Resources Energy explore Block VIII.
households have gained access to national grip electricity sector as its priority. A total of 904 Development signed an agreement in December “I expect that we will be reaching an agreement
and the ministry is targeting to provide electricity megawatts of electricity are generated from three that gave the company the right to explore the on oil exploration with the company soon,” he
to 50 per cent of entire family households in the hydropower stations, six thermal energy power area. said. Singapore-based KrisEnergy is currently
country at the end of 2019, said Dr Tun Naing, stations and one solar power plant between April The company is scheduled to begin exploration developing the Apsara oilfield in Cambodia’s
Deputy Minister for Electricity and Energy. 2016 and December 2019,” announced the of Block D this year. offshore Block A. The company aims to extract
The electricity production sector is needed to Ministry of Information quoting President Win “Right now, the company is studying all the the first drop of oil later this year. The field is
expand to meet the demand and the ministry is Myint in a ceremony to mark the achievement of paperwork. Next, they will begin exploring the oil expected to reach a peak rate of 7,500 barrels of
implementing 1,230 megawatts electricity project 50 percent nationwide electrification. field. oil per day, according to KrisEnergy.
in Kanpauk, Taninthayi Region, 377 megawatts “If they see that the bloc has potential, they will
electricity project in Ahlone, Yangon Region and Source: Eleven Myanmar begin preparations to extract oil. But we are in Source: Eleven Myanmar
1,390 megawatts electricity project in https://elevenmyanmar.com/news/nep-phase-1- the beginning stages, so it will take a long time https://elevenmyanmar.com/news/chinese-
Mielaunggaint, Ayeyawady Region. A total of 250 to-be-finished-at-the-end-of-sept before any oil is extracted,” he said. company-granted-licence-to-explore-block-d
23 February 2020
PwC PwC Myanmar Weekly Business Intelligence 12Infrastructure Real Estate
Financial and Business Infrastructure Policy and Regulation Tender Opportunities MIC Permitted Projects Upcoming Events
China keen to invest in Dawei SEZ Grab says it pumped $100M into Myanmar in
four years
20 Feb 2020 12 Feb 2020
A state-owned Chinese firm has expressed developing the Kyauk Phyu SEZ in Rakhine Ride-sharing company Grab has invested over across the country this year, Toh said. GrabFood
interest to invest in the planned Dawei Special State. China is building a bullet train route from US$100 million (K143.5 billion) in Myanmar in will be launched for local restaurants and
Economic Zone (SEZ) in Tanintharyi Region, U Kunming, China to Bangkok in Thailand. If they the past four years to strengthen its position on transportation partners in Mandalay this year.
Myint San, vice chair of Dawei SEZ Management can connect that route to Dawei SEZ, it will be a the local taxi market, a senior company official “Although food delivery is increasing locally, it
Committee, told The Myanmar Times. great achievement for China. If China wins said Tuesday. still lags behind other countries. We have many
The Myanmar government has yet to respond to [Dawei SEZ], they will connect this route,” U Cindy Toh, country manager for Grab, said the opportunities,” said U Myat Kaung Min, head of
the Chinese, given that talks to develop the SEZ Myint San said. company will continue investing to further GrabFood Myanmar.
with Italian-Thai Development Company Ltd Meanwhile, the Myanmar government will improve the quality of its service in Myanmar. Grab For Good will be launched in Myanmar
(ITD) as well as the Thai and Japanese increase pressure on ITD as well as the Japan “Grab will emphasise service quality and safety, soon.
governments are at advanced stages. However, and Thai governments to kick start development not only technology,” she told a briefing. “We will In 2018, Grab launched its Grab Thone Bane
analysts aren’t ruling out the possibility. at the Dawei SEZ. After years of delays and continue investing in expansion and partnerships (three-wheeler) service in Bagan and Mandalay
“Dawei SEZ has taken a long time to take shape negotiations, the Dawei SEZ Management to better the platform and expand the city, and Grab TaxiPlus service.
and isn’t going as planned. As we don’t have the Committee last month said changes have been ecosystem.” More than 166 million people in 339 cities in
funds to implement it, if the current investors made to the contractual arrangements with ITD Grab launched its service in Myanmar in July Myanmar, Vietnam, the Philippines, Thailand,
cannot develop the project effectively, then for the development of initial industrial estate. 2017, and has since introduced Grab Taxi Call Cambodia, Malaysia, Singapore and Indonesia
Chinese companies are our only options,” said U Under the amendments, ITD and other investors service, Premium Rentals (Beat), and Grab have downloaded the Grab app on their mobile
Zaw Win Pe, a local analyst and former must compensate and resettle villagers affected Food. phones. – Translated
economic adviser to parliament. by industrial zone project. It must also adhere to The company’s taxi service is popular and
“We’ll complete negotiations with the ITD first. If international standards on the environment. experiencing an increase of 10 percent in daily
we cannot agree to the terms of the project, we rides in 2019 from the previous year, and adding
can cancel the contract when it expires. I think more than 196,000 more precise location points
the Chinese have the capacity to develop this in the Grab application.
project, but we’ll have to wait and see if ITD The number of businesses using Grab for
would be able to do it within the specified period,” Business doubled in 2019, and the most popular Source: Myanmar Times
U Zaw Win Pe added. Source: Myanmar Times destinations for rides were Myanmar Plaza, https://www.mmtimes.com/news/myanmar-
The Chinese are expected to reap strategic https://www.mmtimes.com/news/china-keen- Junction City, and Yangon Airport. aviation-sector-expected-become-profitable-
benefits if they win Dawei SEZ. “China is already invest-dawei-sez.html Grab will expand its services to other key cities more-pain-ahead-first.html
23 February 2020
PwC PwC Myanmar Weekly Business Intelligence 13Infrastructure Real Estate
Financial and Business Infrastructure Policy and Regulation Tender Opportunities MIC Permitted Projects Upcoming Events
Industrial zone in Kyaukphyu SEZ to be built at $30m Taxpayers bear the costs of loss-making steel factory in
Mandalay
20 Feb 2020 20 Feb 2020
An industrial zone project within the Kyaukphyu deep-sea port between the two countries during Nearly K500 million in interest is paid daily to loans,” said Nwartogyi township’s No.1
Special Economic Zone (SEZ) in Rakhine State President Xi Jinping’s visit to Nay Pyi Taw last China for a loan taken to run a loss-making state- Constituency Hluttaw MP Daw Nyein That Nwal.
will be developed for US$30 billion, deputy month. owned steel factory in Myingyan township, The factory was only able to produce steel billets
commerce minister U Aung Htoo told Pyithu Tenders will be called to carry out social and Mandalay, said U Zarni Aung, regional minister and steel slabs since becoming operational in
Hluttaw this week. environmental assessments and geological for Electricity, Energy and Construction. fiscal 2009-10 has only distributed the products
CITIC Consortium from China owns 51 percent surveys as part of the development process. He said the No(1) Steel Mill Project (Myingyan), to MEC. A supporting air separation plant was
of the industrial zone while the Myanmar Development of the Kyaukphyu port will enhance was first opened in fiscal 2004-05 by the also damaged and not repaired, leading to the
government owns 49pc, he said. China’s presence in the Indian Ocean, allowing Myanmar Economic Corporation (MEC) with a project and production works being suspended
The industrial zone will be developed on 2400 its oil imports to bypass the Strait of Malacca. €1.1 billion loan from the China Development by the Ministry of Planning and Finance since
acres of land and a high-end housing project will The SEZ is an important asset in the China- Bank. 2017. –
also be constructed across 1235 acres. Myanmar Economic Corridor, which is part of “Currently, the total debt including interest is
The Kyaukphyu SEZ, which is expected to China’s Belt and Road Initiative, which spans more than €1.6 billion. The repaid amount up to
consist of the industrial zone and a deep sea several countries in Asia. It will also be an September 2018 was €136.7 million . The
port, will be developed across 4300 acres of land important connecting point for the high-speed amount including interest that needs to be paid
in total. Kunming-Muse-Mandalay-Kyaukphyu railway off daily in fiscal 2019-20 is around K500 million,”
Development will be led by China's CITIC project. – Translated said U Zarni Aung at the Mandalay Region
Consortium and a total of 42 private Myanmar Hluttaw on February 18.
companies under Myanmar Kyaukphyu Special The mill is directly managed by the Ministry of
Economic Zone Holding Public Co, said U Aung Planning and Finance and Industry and is not
Htoo. under the management of regional government,
Myanmar will hold a 30pc stake in the SEZ, said U Zarni Aung.
which will be developed in phases, while CITIC “This project has really high interest rate and was
Consortium will invest 70pc. done by MEC from 2010 to 2012. It was
U Aung Htoo added that negotiations are now transferred to No.1 Industry in 2012 and as it was
being held to start implementation of the first Source: Myanmar Times transferred to the current government after the Source: Myanmar Times
phase at $1.3 billion. This follows a concession https://www.mmtimes.com/news/industrial-zone- project had been implemented with loans, the https://www.mmtimes.com/news/taxpayers-bear-
agreement and shareholders’ agreement for the kyaukphyu-sez-be-built-30m.html public is bearing the burden of repaying these costs-loss-making-steel-factory-mandalay.html
23 February 2020
PwC PwC Myanmar Weekly Business Intelligence 14Infrastructure Waste and Water
Financial and Business Infrastructure Policy and Regulation Tender Opportunities MIC Permitted Projects Upcoming Events
Wild waters: Kachin Grab says it pumped $100M into Myanmar in
four years
23 Feb 2020 12 Feb 2020
The ninth instalment in our travel series about giant super river, the Ayeyarwady. The current is Ride-sharing company Grab has invested over across the country this year, Toh said. GrabFood
wild swimming spots takes us to Myanmar’s pretty brutal away from the shallows so I can’t US$100 million (K143.5 billion) in Myanmar in will be launched for local restaurants and
northernmost state, a land of ethnic diversity, really recommend swimming here. What you can the past four years to strengthen its position on transportation partners in Mandalay this year.
impenetrable jungle and… tubing. do though is rent a boat (K20,000) for a 15- the local taxi market, a senior company official “Although food delivery is increasing locally, it
Kachin State is famous for Myitsone and manau minute spin around the river(s). That, and renting said Tuesday. still lags behind other countries. We have many
festivals, but also contains vast expanses of out a traditional Kachin outfit, and posing like a Cindy Toh, country manager for Grab, said the opportunities,” said U Myat Kaung Min, head of
impenetrable jungle wilderness, a large variety of total dork in front of the confluence. company will continue investing to further GrabFood Myanmar.
ethnic groups and even the country’s very own War Yone Tor Resort improve the quality of its service in Myanmar. Grab For Good will be launched in Myanmar
section of the Himalayas. So, I hear you ask? With bamboo huts lining a babbling stream and “Grab will emphasise service quality and safety, soon.
Okay – it also possesses a range of fairly special mountains looming in the background, this river not only technology,” she told a briefing. “We will In 2018, Grab launched its Grab Thone Bane
water-centric excursions, so next time you make resort an hour north of Myitkyina is a great spot continue investing in expansion and partnerships (three-wheeler) service in Bagan and Mandalay
it that far north do yourself a favour and add at to grab some late lunch of barbecued fish and to better the platform and expand the city, and Grab TaxiPlus service.
least a couple of them to your itinerary. sneak in a cheeky paddle before heading back ecosystem.” More than 166 million people in 339 cities in
INDAWGYI LAKE into Myitkyina. Grab launched its service in Myanmar in July Myanmar, Vietnam, the Philippines, Thailand,
You don’t have to be a devout wild swimmer to Tubing at Washawng Resort 2017, and has since introduced Grab Taxi Call Cambodia, Malaysia, Singapore and Indonesia
enjoy Myanmar’s largest natural lake – it’s an Easily one of my favourite river swims in the service, Premium Rentals (Beat), and Grab have downloaded the Grab app on their mobile
essential Myanmar travel destination in its own country, Washawng has a lot going for it: crystal Food. phones. – Translated
right. You can rent kayaks and bamboo bicycles, clear waters, a well-maintained site (there’s The company’s taxi service is popular and
visit hot springs, and sign up for a range of barely any trash in the main resort), and shaded experiencing an increase of 10 percent in daily
different boating tours. While all of that comes bamboo huts that are built into the river itself. rides in 2019 from the previous year, and adding
heartily recommended, nothing beats heading for Best of all, though, is the tubing. Rent a tube for more than 196,000 more precise location points
the middle of the lake at sunset, and diving K1,000 and march yourself past the bridge to a in the Grab application.
headfirst into those deep, deep waters. bend in the river. The number of businesses using Grab for
Myitsone Business doubled in 2019, and the most popular Source: Myanmar Times
About 90 minutes north of Mandalay, two rivers Source: Frontier Myanmar destinations for rides were Myanmar Plaza, https://www.mmtimes.com/news/myanmar-
that wind down from the Himalayas – the Mali https://www.frontiermyanmar.net/en/wild-waters- Junction City, and Yangon Airport. aviation-sector-expected-become-profitable-
Kha and the N’Mai Kha – converge to form one kachin Grab will expand its services to other key cities more-pain-ahead-first.html
23 February 2020
PwC PwC Myanmar Weekly Business Intelligence 15Infrastructure Other Infra
Financial and Business Infrastructure Policy and Regulation Tender Opportunities MIC Permitted Projects Upcoming Events
Delivery app starts service in Yangon Grab says it pumped $100M into Myanmar in
four years
18 Feb 2020 12 Feb 2020
Foodpanda, a mobile food delivery service, will “We have worked to change people’s view and Ride-sharing company Grab has invested over across the country this year, Toh said. GrabFood
now connect users to over 1,000 restaurants in feeling about food delivery service,” said US$100 million (K143.5 billion) in Myanmar in will be launched for local restaurants and
Yangon. foodpanda Myanmar’s managing director Ko the past four years to strengthen its position on transportation partners in Mandalay this year.
“Foodpanda is a platform which is easy to use. It Zayar Min. the local taxi market, a senior company official “Although food delivery is increasing locally, it
enables users to order foods easily, and get it From 8:00 am to 10:00pm, customers can order said Tuesday. still lags behind other countries. We have many
delivered to their door. Myanmar will be a vital whatever food they fancy from foodpanda. – Cindy Toh, country manager for Grab, said the opportunities,” said U Myat Kaung Min, head of
market for the company,” said foodpanda’s Translated company will continue investing to further GrabFood Myanmar.
regional CEO for the Asia-Pacific region, Mr improve the quality of its service in Myanmar. Grab For Good will be launched in Myanmar
Jakob Sebastian Angele. “Grab will emphasise service quality and safety, soon.
The food delivery service is already available in not only technology,” she told a briefing. “We will In 2018, Grab launched its Grab Thone Bane
12 countries throughout the world, and will continue investing in expansion and partnerships (three-wheeler) service in Bagan and Mandalay
connect users in Myanmar with popular to better the platform and expand the city, and Grab TaxiPlus service.
restaurants throughout the city. ecosystem.” More than 166 million people in 339 cities in
The service includes access to international fast Grab launched its service in Myanmar in July Myanmar, Vietnam, the Philippines, Thailand,
food brands like KFC, Pizza Hut, Marry Brown, 2017, and has since introduced Grab Taxi Call Cambodia, Malaysia, Singapore and Indonesia
The Manhattan Fish Market; cafes like Gong service, Premium Rentals (Beat), and Grab have downloaded the Grab app on their mobile
Cha, Amazon, Cheese O’Tea and Tom & Toms; Food. phones. – Translated
as well as local favourites like YKKO, Tin Myint The company’s taxi service is popular and
Myanmar, Yangon Tea House, Shan Yoe Yar, experiencing an increase of 10 percent in daily
The Pansodan and Mr. Chef. rides in 2019 from the previous year, and adding
The foodpanda app allows customers to order more than 196,000 more precise location points
food for any amount, delivered to the house or in the Grab application.
office free of charge. The number of businesses using Grab for
People can order food from nearby restaurants, Business doubled in 2019, and the most popular Source: Myanmar Times
notifying the outlet of their location via Source: Myanmar Times destinations for rides were Myanmar Plaza, https://www.mmtimes.com/news/myanmar-
foodpanda’s website and the iOS or Andriod https://www.mmtimes.com/news/delivery-app- Junction City, and Yangon Airport. aviation-sector-expected-become-profitable-
application. starts-service-yangon.html Grab will expand its services to other key cities more-pain-ahead-first.html
23 February 2020
PwC PwC Myanmar Weekly Business Intelligence 16Infrastructure Other Infra
Financial and Business Infrastructure Policy and Regulation Tender Opportunities MIC Permitted Projects Upcoming Events
Three foreign companies withdraw investments from DaNa Facility Unveils Report on Kachin State’s SME
Thilawa SEZ Ecosystem
18 Feb 2020 18 Feb 2020
Three foreign companies have withdrawn their security reasons, U Shwe Hein said. UK Aid-funded DaNa Facility and Cordaid Bhamo Young Entrepreneurs’ Association.
investment plans from the Thilawa Special He added that aside from these three recently unveiled their study, “The Ecosystem for Understanding the SME landscape in Kachin
Economic Zone (SEZ), according to U Aung companies, it’s business as usual at Thilawa Small and Medium-Sized Enterprises in Kachin State has the potential to create economic
Htoo, deputy commerce minister. SEZ, with a steady momentum of investor State” at an event attended by Kachin State opportunities for people from poor communities
The minister was responding to questions on enquiries coming in. government officials, donors, humanitarian and and for groups that commonly face social and
developments at the SEZ from U Khin Cho, a Thilawa SEZ covers some 2500 hectares and is development practitioners, local enterprises and economic disadvantages, such as women,
representative of Pyithu Hluttaw, at a parliament divided into two zones. Over 100 companies other key stakeholders. people with disabilities and people living in
session on February 14. have invested in it so far, with more than half of “Understanding the private sector landscape in conflict-affected regions.
As at December 2019, the government has them being from Japan. Companies in the SEZ Kachin and the challenges SMEs face is The study also looked into SMEs’ accessibility to
permitted 115 companies from 19 countries to include those involved in construction, essential for creating new opportunities for financial services well as availability of raw
operate in Thilawa SEZ. However, three have packaging, garments, food, agricultural products, inclusive growth – growth that creates economic materials and connection to local and foreign
withdrawn their investment plans, resulting in 112 transportation, automobile and accessory opportunities for poor communities and internally markets.
companies having invested a total of US$1.9 production, pharmaceuticals and electrical displaced persons,” said Thomas Coward, team
billion in Thilawa so far, U Aung Htoo said. products. leader of DFID Myanmar’s Inclusive and
The three companies which withdrew include two Livelihoods team.
Japan/Myanmar joint ventures in chemical The study aims to provide donors and the
products manufacturing and shoe production. development community with a better
The third company is a Singapore data center, understanding of the challenges faced by small
according to U Shwe Hein, Secretary of Thilawa and medium-sized enterprises across Kachin,
SEZ Management Committee. with a particular emphasis on enterprises run by
He said that the two joint ventures were not able internally displaced persons.
to raise sufficient capital to carry out their “We are pleased to see this report includes the
investments in Thilawa, resulting in them pulling SME landscape beyond Myitkyina, and I see this
out of the country. Meanwhile, the Singapore Source: Myanmar Times as a very inclusive and comprehensive report
company did not receive permission from the https://www.mmtimes.com/news/three-foreign- that shows a possible roadmap to support SMEs Source: Myanmar Business Today
authorities to operate, as foreign wholly-owned companies-withdraw-investments-thilawa- in Kachin State, particularly in the agriculture https://mmbiztoday.com/dana-facility-unveils-
data centers are not allowed due to national sez.html sector,” said Kyaw Min Oo, president of the report-on-kachin-states-sme-ecosystem/
23 February 2020
PwC PwC Myanmar Weekly Business Intelligence 17Policy and Regulation
23 February 2020
18Policy and Regulation
Financial and Business Infrastructure Policy and Regulation Tender Opportunities MIC Permitted Projects Upcoming Events
e-Government system crucial for country’s Myanmar aviation sector expected to become
development: State Counsellor profitable, but more pain ahead first
20 Feb 2020 27 Jan 2020
e-Government is a crucial element in linking the countries have moving forward at a faster pace, Myanmar’s aviation industry is betting on a more tourist attractions in the future,” U Kyaw Nyein.
government with stakeholders to better drive and that we need faster development. It is profitable future with the number of airlines now Air KBZ has also been expanding. Last year, it
economic development and poverty alleviation in expected the e-Government could help in this reduced to half compared to 2017 and demand upgraded its fleet of planes and announced new
Myanmar, said State Counsellor Daw Aung San movement,” she said. for domestic air travel expected to catch up with destinations to Dawei , Kaw Thaung , Myeik,
Suu Kyi. The United Nations has established a benchmark supply. However, they will have to swallow more Sittwe, Kyaingtong, Hkamti and Loikaw. its sister
“I want Myanmar people to understand and apply to measure the development of a country in losses in the short term before things get better. airline, Myanmar Airways International, added a
these technologies. Technologies should be regard to e-Government system, based on the There are currently five airlines in Myanmar, new Airbus A319 to its fleet, expanding its
modified into Myanmar versions gradually so that three indicators – online services, down from ten three years ago. But even though capacity by 144 passengers.
even ordinary Myanmar people can become telecommunications, infrastructural development there are fewer players now in the market, the Tanes Kumar, commercial director for Air KBZ,
accustomed to modern technologies,” she said in and human resource development. volume of passengers flying domestic remains said even though the new routes are not yet
her opening remark as Patron of the e- “The implementation of e-Government is below three million, according to government profitable, the main aim of adding new
Government Steering Committee, at the 4th e- intended for many benefits, including easy and data. destinations is to expand the airline’s network
Government Conference & ICT Exhibition held at smooth activities at government agencies, At those levels, demand is not sufficient to cover and connectivity. “This gives passengers more
the MICC-2 in Nay Pyi Taw, on Tuesday. effective functions, making right decisions, better the industry’s losses, U Kyaw Nyein, CEO of options and allows employees to learn new skills
Despite Myanmar’s e-Government index jumping services, appropriate responses to fulfill public Golden Myanmar Airlines (GMA), told The for more expansion in the future,” he said.
12 places from 169th place in 2016 to 157th in needs and socioeconomic development of the Myanmar Times in a recent interview.
2018 out of 193 countries worldwide, it still ranks people,” said Daw Aung San Suu Kyi. But profitability is possible in the years ahead,
under the average of ASEAN member nations, making it a good time for the remaining airlines to Source: Myanmar Times
she said. accelerate their plans for expansion to capitalise
https://www.mmtimes.com/news/myanma
Last October, Myanmar government made a on future demand, according to a 2019 report by
r-aviation-sector-expected-become-
nationwide effort to migrate from using Zawgyi the Centre for Asia Pacific Aviation.
font to the international-standard Unicode font. Last year, GMA took delivery of a new aircraft, profitable-more-pain-ahead-first.html
“Although Myanmar has experienced a certain taking its current fleet of ATR-72s to three. “With
degree of increases in some sectors such as Source: Myanmar Times the additional seats, we can now fly daily
education, the country has not overtaken other https://www.mmtimes.com/news/e-government- compared to alternate days before. We will also
ASEAN countries. Instead, a slight decrease has system-crucial-countrys-development-state- extend our destinations to include more flights to
been noticed. It showed that our neighbouring counsellor.html Dawei and Kaw Thaung, which could be potential
23 February 2020
PwC PwC Myanmar Weekly Business Intelligence 19You can also read
