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Newsletter | August 2018

News | Inside GMBC | Upcoming Events

Myanmar Newsletter

Dear Reader, 

Welcome to the August edition of our Newsletter. 

The AHK Myanmar market study on PV Solar and Biomass Energy is now online and we are looking forward to kick off the 2nd Myanmar-German Renewable Energies Symposium on 13.9.2018 in Yangon. For further information please see our website (www.myanmar.ahk.de) or let us know. 

The Oktoberfest Yangon Supporters Event was held successfully at the new Mercedes Benz Showroom in Yangon on 23 August 2018. A friendly reminder to get ready and arrange your travel agenda as Octoberfest Yangon is coming to town on 12/13 October 2018. Octoberfest Yangon is the biggest social indoor event in Yangon and you are invited to use this event as a platform to reach out to 4000 participants and more than 17000 followers on Facebook.  The Octoberfest Yangon was established as a nonprofit, charitable association under the patronage of the Embassy of the Federal Republic of Germany in Yangon. The Delegation of German Industry & Commerce in Myanmar (AHK Myanmar) is a co – organizer and we would highly appreciate to see your company as a sponsor of this fantastic event – in case you are interested please let us know.

If you wish to receive more frequent information, please like us on facebook or visit our website!

Yours truly,


Martin Klose,
Delegate of German Industry and Commerce in Myanmar

  News

Political, economic and legal news

  • Foreign companies and branches to obtain exporter and importer certificate
    According to an announcement of the Ministry of Commerce from 9 August foreign-owned companies and branches of foreign companies are now eligible to obtain an exporter and importer registration certificate.

     
  • Banks with foreign currencies to allowed floating against the USD
    On 13 August, the Central Bank of Myanmar issued a Memorandum to remove the trading band ± 0.8% on buying and selling of the Myanmar Kyat (MMK) against the US Dollar (USD). The move comes after the USD recently hit a record high against the depreciating MMK (1 USD = 1,542 MMK as of 31 August). The trading band was set in 2012 when a floating exchange rate was introduced, and since then the Central Bank of Myanmar has set a daily reference rate based on supply.

    Linkicon  More information (in Myanmar language)

     
  • According to the CBM the 13 foreign banks will be allowed to provide import trading financing services
    Already in December last year, the Central Bank of Myanmar allowed foreign banks to provide export financing. With the new regulation, also importers will have the opportunity to open accounts at foreign banks.

    Linkicon  More information
  • New Apartment Law to fill the gap of properties less than 20.000 sq ft
    A new Apartment Law was submitted to the Pyithu Hluttaw to close a gap whitch is left by the Condominium Law from 2016. Currently only apartments built on areas of 20.000 sq ft and above are regulated. The new Apartment Law will regulate apartment buildings developed on land areas of less than 20.000 sq ft.

    Linkicon  More information

Investment and business news

  • DICA details step for company re-registration under the new Myanmar Companies Law
    DICA recently published a document containing the regulations and notifications outlining re-registration requirements for companies under the new Myanmar Companies Law. The documents relate to definition, processes, forms, fees and other requirements. Registrations need to be conducted via the MyCo website until 31 January 2019: https://www.myco.dica.gov.mm/index.aspx

    Linkicon  More information

  • Thaton Industrial Zone looking for investors
    The Ministry of Industry invites international companies to invest in the Thaton Industrial Zone in Mon State, which might also serve as a role-model for powering industrial growth in Myanmar with renewable energies at a larger scale. The region around Thaton is rich endowed with lime stone and rubber, and is close to Thailand. So far, six companies sent their expression of interest (EoI) to the Ministry of Industry. The application window is open until 28 September.

    Linkicon  More information

  • China to support the renovation of Yangon's Chinatown
    China's Nanning municipal authorities will help to renovate Yangon's busiest streets in Chinatown. The project includes renovation and painting works at buildings and pavements as well as the upgrade of power cables and street lamp posts.

    Linkicon  More information


About the GMBC: Since 2015, the German Myanmar Business Chamber (GMBC) is the official membership organization of German businesses in Myanmar. It provides a platform for exchange, dialogue and cooperation for Myanmar and German businesses bringing together corporate activities and strengthening the German business community in Myanmar. The GMBC organizes events on a regular base covering important policy issues as well as interesting business cases. Moreover, these events are made to extend and improve the network of its members. Visit the GMBC website for more information.
This section introduces new members and covers recent activities of GMBC members in Myanmar. If you are a GMBC member and are keen to see your company featured in this section, please contact GMBC.

GMBC member acti
vities

Member news

  • METRO works very closely with the local community of Myanmar to improve the food safety through series of dedicated and tailored training programs for the farmers and producers. More information
  • Myanmar Survey Research (MSR) and DICA have published a new "Cost of Doing Business" report for Myanmar that provides various indications and background information on business expenses in Myanmar. More information
  • Bosch launches Safe Driving Campaign. More information
  • Asia World Foundation Supports the SMM 2018 Asian Men’s Club Volleyball Championship. More information

Events

     Past events
  • August 23: The Oktoberfest Yangon Supporters Event was held successfully at the new Mercedes Benz Showroom in Yangon. More information
     Upcoming events
  • September 26 (venue tbc): Presentation of German development assistance tools for the private sector followed by joint networking
  • September (date and venue tbc): Networking with Myanmar Young Entrepreneurs Association.
  • October 12 & 13 (Rose Garden Hotel): Oktoberfest
  • October 17 (Gallery Bar, Sule Shangri-La Hotel): Joint Networking with AustCham, New Zealand Chamber & AMCHAM
  • October (date and venue tbc): Seminar on Myanmar Supply Chain Challenges
Also check out the new calendar feature on the GMBC website to stay up-to-date about events!



  Insights

Precast in Myanmar

Past events:
Seminar Title:
Precast – The Solution for Building Myanmar’s Future?
Location:
Yangon and Mandalay, Myanmar
Date:
12 and 14 June 2018


 
With the country opening up after sanctions have been lifted, Myanmar is to see a lot of development for the years to come. One of the various challenges is the need for adequate housing and infrastructure for its growing population.
The industrial solution provider Rieckermann, present in the country through its own office in Yangon, has taken up the task of contributing to mastering this challenge by inviting to a Seminar discussion with the question ‘Precast – The Solution for Building Myanmar’s Future?’ in Yangon and Mandalay. Developers, construction companies, architects, building material suppliers as well as representatives from local associations and authorities followed the call to hear about the advantages of modern precast, important aspects for the right precast design as well as the connections between precast elements. Design and connection are important aspects in Myanmar because Myanmar is a region of seismic activity.

For more information please follow the link or contact Messrs. Rieckermann.



General Information


AHK World Business Outlook - ASEAN focus 2018

                                                                                           
Please find the AHK World Business Outlook on our website.

The Outlook is based on a regular survey conducted by DIHK among member companies of the German Chambers of Commerce Abroad, delegations and offices (AHKs).

You will get an insight about expectations of the economic development, political stability and rule of law, labour, taxes, and also topics regarding the ASEAN focus.

Linkicon  More information


AHK Business Trip to Myanmar: Water and sewage infrastructure in Myanmar (November 2018)


The German Water Partnership (GWP) and our Delegation of German Industry and Commerce in Myanmar are jointly organizing an AHK Business Trip to Yangon, Naypyitaw and Mandalay from 11 to 16 November 2018. German companies from the water and sewage infrastructure sectors are warmly welcome to join us on this trip. Kindly find more details below.

Green Energy Solutions


                                                                                           
Please find the AHK Myanmar market study on PV Solar and Biomass Energy on our website.
Myanmar offers a high potential for PV and biomass energy solutions, but the absence of regulatory frameworks, highly subsidizes electricity tariffs and the expansion of the national grid represent challenges for implementing these solutions at a larger scale.

Linkicon  Access to the market study (in German language)

On 13 September, we will host the 2nd Myanmar-German Renewable Energies Symposium at Rose Garden Hotel Yangon where we will address the opportunities and challenges related to industrial applications of solar and biomass energy in Myanmar (also see Events section below).


Furthermore, we would like to highlight two tenders from our tender information service to you:

KfW requests the supply, installation and maintenance of SHS for 13,000 households in Southern State.
Deadline: September 17, 2018
Linkicon  More information

GIZ supports waste water treatment including a demonstration pond and laboratory at Yangon University, Department of Zoology.
Deadline for requesting documents: September 10, 2018
Linkicon  More information



Key figures for Myanmar
 GDP growth (est. 2017) 6.4%, GDP: 72 billion USD
 Population (2017) 53 million
 Export goods (2016) 11 billion USD; China, Thailand, India
 Import goods (2016) 16 billion USD; China, Singapore, Thailand
 Export services (2015) 3.86 billion USD
 Import services (2015) 2.44 billion USD
 Current account balance,
 % of GDP (2016)1
 -5.8%
 Exports to Germany goods (2016)2 172.4 million USD; apparel, footwear
 Imports from Germany goods (2016)2 76.8 million USD; machinery, vehicles
 Inflation rate 6.9%
 Unemployment rate3 0.8% (2015, ILO), 4% (2014, Myanmar Census)
 Aggregate measure of labor underutilization 6.9% (2015, ILO)
 Central Bank interest rate
 10%
 Lending/deposit rate 13% lending, 8% deposit
 Exchange rate (31 August 2018) 1 EUR ≈ 1,763,7 MMK

1
According to the IMF, the actual deficit may be significantly lower as exports are not always recorded.

2 Using mirror trade data gives significantly higher imports (155.8 million USD) and exports (358.8 million USD).
3 While the census asks 3 questions about the labor force, and only one specifically about unemployment, the ILO survey asks stepwise several questions about employment, which leads, eventually, to a much lower number of unemployed. There is no significant difference in the workforce.
Sources: Trade data: UN Comtrade and UNCTAD (FDI), Economic data: WB and IMF, CBM for interest rates

Upcoming Events

September 11-12, 2018 | Nay Pyi Taw, Myanmar
Global Investment Forum
The Myanmar Global Investment Forum 2018 will offer expert insights into the industries key to the Myanmar economy at MICC-2 in Nay Pyi Taw.
Linkicon More Information
September 13, 2018 | Rose Garden Hotel, Yangon, Myanmar
2nd Myanmar-German Renewable Energies Symposium
During the 2nd Myanmar-German Renewable Energies Symposium we will show business opportunities in the sector and discuss related potential challenges. The Symposium this year is under the title "Powering Myanmar's industrial growth with Solar and Biomass Energy".
Companies interested in attending the event can register with Ms. Thet Htet Lin Han until 5 September 2018.
September 20, 2018 | Eurogress, Aachen, Germany
10. IHK-Außenwirtschaftstag NRW
Join us at the global IHK-Außenwirtschaftstag in Aachen to discuss with our Delegate Mr. Martin Klose about business opportunities and market entry in Myanmar.
Linkicon More Information
September 27-30, 2018 | Convention Center (YCC), Yangon, Myanmar
AMPA MYANMAR 2018
Myanmar International Auto Parts, Accessories & Motor Show: The organizer of the 33-year-running Taipei AMPA is set to hold its first overseas exhibition using AMPA as a new brand for its related event in Myanmar.
Linkicon More Information
November 11 - 16, 2018 | Yangon, Naypyidaw, and Mandalay, Myanmar
AHK Business Trip: Water and sewage infrastructure in Myanmar (November 2018)
The German Water Partnership (GWP) and our Delegation of German Industry and Commerce in Myanmar are jointly organizing an AHK Business Trip to Yangon, Naypyitaw and Mandalay from 11 to 16 November 2018. German companies from the water and sewage infrastructure sectors are warmly welcome to join us on this exciting trip. Registrations end in September.
Linkicon More Information

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AHK Myanmar
Martin Klose
Uniteam Building, 6 floor, 84 Pan Hlaing Street Sanchaung TS
11111 Yangon
Myanmar

+95 9 4506 293 64
martin.klose@myanmar.ahk.de