PwC MyanmarWeekly Business Intelligence

Issue 13409 November 2018

www.pwc.com/mm

PwC | November 2018

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PwC | November 2018

1. Weekly Key Financial & Business News

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PwC | November 2018

Weekly Key Financial & Business NewsHeadlines

Myanmar receives over half of overall trade from Muse border

Problems rise for micro-finance borrowers

Myanmar seeks to boost savings

Myanmar remains worst place in ASEAN for doing business, World Bank ranking shows

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Exploratory oil well starts work in Myanaung

PwC | November 2018

Weekly Key Financial & Business NewsHeadlines

UK to assist Myanmar with renewable energy projects

Why India looks the other way on Myanmar

Myanmar goes digital

FDI will take a hit if EU removes GSP: DICA

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Myanmar-Laos border gate receives international status

PwC | November 2018

Weekly Key Financial & Business NewsHeadlines

Myanmar to hold investment summit early next year

Squeezed by foreign competition, local taxi companies plead for help

China and Japan set to reshape shipping in Myanmar

‘Myanmar needs to ensure safe and efficient use of its airspace’

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Myanmar looks East

PwC | November 2018 7

Problems rise for micro-finance borrowers

Microfinance institutions (MFIs) in Myanmarhave lent more than K3.9 trillion to three millionsmall-scale borrowers since the business ofmicrofinance emerged in the country up untilFebruary this year, according to FinancialRegulatory Department under the Ministry ofPlanning and Finance.But while the additional lifeline has broughtfinancial relief to borrowers, many have alsoended up further in debt.This is because MFIs tend to be crowded within asingle area, so it is not uncommon for threeinstitutions to have lent to the same borrower,said U Myint Swe, managing director at MIFIDA(Microfinance Delta International). Because ofthe easy access to funds, “many individualborrowers tend to borrow beyond their capacity torepay the loans, he said.“In my neighbourhood, there are around 12microfinance companies. A person takes loanfrom six or seven companies. There are manypeople who are in deeply indebted to theseinstitutions and I haven’t seen anyone who hasrecovered from it,” said Ma Thet, who took out a

microfinance loan in Pyay, Bago Region.“It is common for a single individual borrowsfrom two or more MFIs. Such cases are oftenfound in regions where there are manyinstitutions. Urban areas like Yangon, Mandalay,Bago and Ayeyarwady have many microfinanceinstitutions. It is difficult to prevent this,” saidDaw Phyu Yamin Myat, executive member ofMyanmar Microfinance Association.Jason Meikie, deputy director from Pact GlobalMicrofinance Fund, agreed that cases where manyinstitutions lend to a single person have becomemore frequent. “If we don’t take measures tocontrol this, it will become a huge problem,” hesaid.The other reason behind the rising debt problemis that some MFIs tend to lend more than isneeded or than the borrower is able to repay inorder to reap higher interest returns, expertspointed out.

Source: Myanmar Timeshttps://www.mmtimes.com/news/problems-rise-micro-finance-borrowers.html

NewspapersMyanmar Times

05 Nov 2018

PwC | November 2018 8

Myanmar receives over half of overall trade from Muse border

Myanmar earned about US$480 million fromoverall border trade volume during October 1 to26 in 2018-19 FY and half of them had come fromMuse border trade zone, according to Ministry ofCommerce.The Muse border trade zone earned US$279million.In 2017-18 FY, Myanmar earned US$341 millionfrom border trade during the same period.Myanmar has 17 border trade zones: Muse, Lweje,Chinshwehaw, Kanpiketee, Kengtong, Techilek,Myawady, Kawthoung, Myeik, Nabule/Htikhi,Mawtaung, Mesae, Sittwe, Maungdaw, Tamu,Reik and Htantalan.Among them, Muse border trade zone inMyanmar and China border and the Myawadyborder trade zone in Myanmar and Thailandborder see most amount of trading done.Myanmar exported US$202 million worth ofproducts to China and imported US$76 millionworth of products from China.However, the export amount to Thailand is onlyUS$8 million while the import amount is US$48million.

Source: Eleven Myanmarhttps://elevenmyanmar.com/news/nydc-assigns-transport-planner-and-traffic-impact-assessment-consultant

NewspapersEleven Myanmar

05 Nov 2018

PwC | November 2018 9

Myanmar seeks to boost savings

Myanmar is drafting a National SavingsMobilisation Strategy to encourage citizens tosave more, Deputy Minister of Planning andFinance U Maung Maung Win said yesterday atthe World Savings Day forum held incollaboration with the Yangon University ofEconomics, UN Capital Development Fund(UNCDF) and GIZ.The forum’s aim is to raise awareness over theimportance of saving in Myanmar and to buildcommon ground towards strategy developmentand implementation. As such, Myanmar will draftits very first Savings Mobilisation Strategy to helpresidents build up their savings, U Maung MaungWin said.“Despite rising volume of savings at local banks,more is needed to support continued economicgrowth and for Myanmar to reach parity with itsregional neighbours,” he said. Myanmar currentlyregisters the second lowest levels of gross savingsper capita in ASEAN.In the five years since 2013, the number of formaland informal savers in Myanmar has risen from38 percent to half of all adults, according to the

UNCDF. In Myanmar, informal savings, whichincludes non-cash assets, jewelry or cash on hand,are the main channels for savings, according toUNCDF.However, the number of adults who save viaformal means, that is, in banks and financialinstitutions, is now just 11pc compared to 6pc in2013, which is still low, said Mr PaulLuchtenburg, the country coordinator forUNCDF.Based on a recent UNCDF survey, the mainreason given for not saving is not having enoughfunds after accounting for living costs. A smallerpercentage said it is due to not having anyincome. For the economy to grow though, formalsavings at the local banks is needed, said U ZawLin Aung, managing director of KBZ Bank.Financial institutions depend on capital raisedfrom deposits to sustain lending to businessesand consumers.

Source: Myanmar Timeshttps://www.mmtimes.com/news/myanmar-seeks-boost-savings.html

NewspapersMyanmar Times

05 Nov 2018

PwC | November 2018 10

Myanmar remains worst place in ASEAN for doing business, World Bank ranking shows

Myanmar has failed to improve its ease of doingbusiness ranking for the third consecutive year,with the latest figures from the World Bankshowing that the country remains the worst placein ASEAN to conduct business.The newly-released 2019 Doing Business rankingsby the World Bank showed that Myanmar ranks171th out of 190 economies in the overall ease ofdoing business, unchanged from last year’sposition.Economies are ranked on their ease of doingbusiness, from 1-190, based on the average ofeach economy’s ease of doing business scores forthe 10 topics included in this year’s aggregateranking.The country occupies the same ranking with Iraq(171st), lower than Sudan (162nd) and aboveAngola (173rd). It remains the lowest-rankedASEAN member and, with the exception ofTimor-Leste (178th), the worst-ranked economyin East Asia and the Pacific. Laos (154th) - thesecond lowest-ranked in ASEAN - is 17 placeshigher. Other large economies include Indonesia(73rd), the Philippines (124th), Thailand (27th)

and Vietnam (69th).Myanmar dropped from the fourth lowest-rankedin Asia last year to the third lowest (aboveBangladesh and Timor), having been overtaken byAfghanistan (167th). In contrast, neighbouringChina advanced more than 30 spots to 46th placein the global rankings, making it to the top 50.India also improved 23 spots to 77th place,becoming South Asia’s top-ranked economy.Malaysia regained its place in the world’s top 20economies, moving up nine places to 15th rank,while Singapore secured the second placeworldwide.This is the third consecutive year where Myanmarhas failed to improve its position. The countrymade it to 167th in the 2016 report, jumping from182nd two years earlier. But, under the NationalLeague for Democracy-led (NLD-led)administration, it fell back to 170th in the 2017report and dropped to 171th last year.Source: Myanmar Timeshttps://www.mmtimes.com/news/myanmar-remains-worst-place-asean-doing-business-world-bank-ranking-shows.html

NewspapersMyanmar Times

05 Nov 2018

PwC | November 2018 11

Exploratory oil well starts work in Myanaung

Drilling of an exploratory well – Shwesitaw WellNo 1 in IOR 7 Block in Myanaung, HinthadaDistrict, Ayeyarwady, has started on November 4.Based on 3D seismic survey data, oil and gasprospects were found in the block whichShwesitaw Well No 1 will explore.The target depth of the well is 2450 metres.The exploration of the block is joint operation byPetronas Carigali Myanmar Inc, the local arm ofMalaysia’s national oil and gas company;Myanmar’s United National Oil and Gas TradingCo Ltd; and Petroleum Brunei Myanmar (PBMA)after a contract for oil and gas exploration anddevelopment in IOR-7 Vlock was signed inSeptember 16, 2014.Within the block, Myanma Oil and Gas Enterprise(MOGE) discovered the Shwepyitha oil field in1967 and a total of 70 wells have been drilled.About 4 million barrels of oil and 92 billion cubicfeet of gas have been so far produced fromShwepyitha oil field.The ceremony to begin drilling of Shwesitaw WellNo 1 was attended by U Win Khaing, Minister forElectricity and Energy, dignitaries from the

Ayeyarwady regional government and partnerfirms.In September, a 40 metre column of gas wasdiscovered at a depth of 4,820m at the Shwe YeeHtun-2 appraisal well in the A-6 gas block insouthern Rakhine. The Shwe Yee Htun-2discovery adds to the Shwe Yee Htun-1 and PyiThit-1 discoveries made in 2016 and 2017.Of the 1.7 billion cubic feet of natural gas itproduces daily, Myanmar exports around 1.5billion cubic feet, according to the MOGE.Myanmar will start inviting international tendersfor exploration and production at up to 31 new oiland gas fields in the first half of next year.

Source: Myanmar Timeshttps://www.mmtimes.com/news/exploratory-oil-well-starts-work-myanaung.html

NewspapersMyanmar Times

06 Nov 2018

PwC | November 2018 12

Why India looks the other way on Myanmar

While the West moves to re-isolate Myanmarafter a short period of re-engagement,neighboring India is taking a more realpolitikapproach to reports of massive rights abuses bythe nation’s security forces.Indeed, India is doing its utmost to improverelations while the United States and EuropeanUnion impose new sanctions aimed specifically atMyanmar’s military, including top soldiersinvolved in the abuses.It is by now evident that Myanmar’s treatment ofits Muslim Rohingya population and crackdownon the media — major concerns in the West — willbe subordinated to New Delhi’s broader policyaims for Myanmar and the wider region.There are several intertwined reasons for India’spragmatic approach. First, India’s easternneighbor is a vital link in its commercially driven“Act East” policy, a gambit aimed at expandingtrade and investment through better linkageswith Southeast Asia’s booming economies.India’s fast-expanding economy needs fuel togrow, and New Delhi has shown strong interest inimporting oil and gas from Myanmar. Meanwhile,

long-decrepit roads to the Myanmar border arebeing upgraded to facilitate faster bilateral trade.An agreement signed in May paved the way forentry-exit points at the border towns of Moreh inIndia and Tamu in Myanmar, as well as at theRihkhawdar-Zowkhawtar at the border betweenIndia’s Mizoram and Myanmar’s Chin state.Second, India has stayed fully engaged withNaypyidaw to prevent China from stealing amarch in yet another neighboring country afterBeijing has made strong advances in Pakistan,Nepal, Sri Lanka and Maldives, including throughits global infrastructure-building program.Just as significantly, New Delhi’s securityplanners want to ensure that Assamese, Naga andManipuri ethnic insurgents based in remote areasof northwestern Myanmar are deprived of theirsanctuaries.

Source: Consult Myanmarhttps://consult-myanmar.com/2018/11/06/why-india-looks-the-other-way-on-myanmar/

NewspapersConsult Myanmar

06 Nov 2018

PwC | November 2018 13

UK to assist Myanmar with renewable energy projects

The United Kingdom will assist Myanmar inimplementing renewable-energy projects. a seniorUK official said.Douglas Barnes, director of the UK’s Departmentfor International Trade, made the commentduring a knowledge-sharing workshop forpolicies and regulations covering renewable-energy use and reducing carbon emissionsorganised by his agency in Nay Pyi Taw onMonday.“After the workshop, the governments of the UKand Myanmar will have continuous discussions.From that relationship, policies and regulationswill be drafted,” Mr Barnes said.“When those policies are in place, Myanmar willneed technologies and we will provide thesetechnologies. UK businesses will also be invited toinvest in the sector in Myanmar,” he added.He said required technologies, workshops andtraining will be provided to implement renewableenergy projects.The UK has established a £15 million (K30billion) fund which will be used until 2020 forcarbon reduction, renewable energy and energy

utilisations in six ASEAN member states,including Myanmar. Expenses for feasibilitystudies of wind and solar energy projects inMyanmar will be provided from the fund.Countries in the region need to cooperate incarbon reduction and promotion of renewableenergy, Mr Barnes explained, adding thatMyanmar needs policies and regulations in placeif it is to meet its carbon-reduction goals by 2030.“Myanmar can meet its carbon reduction targetsbut everyone needs to cooperate for this project tobe successful,” he said. UK will continue to helpMyanmar and energy is one of the country’sessential needs.Meanwhile, the Ministry of Electricity and Energy(MOEE) is drafting a renewable energy law todevelop the sector, U Maung Maung Kyaw, ChiefEngineer from the Department of RenewableEnergy and Hydropower Plants under the MOEE,said in September.

Source: Myanmar Timeshttps://www.mmtimes.com/news/uk-assist-myanmar-renewable-energy-projects.html

NewspapersMyanmar Times

07 Nov 2018

PwC | November 2018 14

Myanmar goes digital

Recently I was suggested to move to Myanmar. Tomy shame, I knew pretty much nothing aboutMyanmar, apart from it being Burma before. Ok,and except the fact that Myanmar is a Chinesegambling heaven. And that I have never beenthere or wanted to. So that got me curious—whatin the world is happening in Myanmar?Turns out, Myanmar used be in the bottom of theworld internet penetration ranking list, rightalongside the most unfortunate African countries.And then they climbed up.For the past 3 years Myanmar has rocketed in allsorts of internet metrics. Local expert suggeststhis wonder to be a disappointing glitch instatistics. Myanmar was online even 10 years ago,when internet-cafes were consuming much of thetraffic, and some offices and apartments had theircable from the local internet cafe.Myanmar went straight to the age of affordableChinese smartphones, just as so many othercountries. Around 16 million happy smartphoneusers watch Korean TV series, download piratemovies, play games and write a lot on socialnetwork.

Western media connects Facebook to theunfortunate political events that happened in thecountry in the past several years.As media suggests, Facebook became involved inthe epicentre of the political events—‘muslimpopulation genocide’ they call it, that happensnear the Bangladesh border right now. MyanmarFacebook users could not handle the hate speechand the fake news spread like fire, until it becamefire on the streets. Facebook could not handle iteither, there were simply not enough Myanmar-speaking staff to censor the posts, so themisinformation and hate speech was spreadinglike decease. UN organisation recognisedFacebook to be one of the reasons for the currentcrisis. However, locals are way more sceptical ofthe western news drama, and ask readers to docritical thinking, and not believe everything theyread in the news. Political journalism never paintsan honest picture.Source: Consult Myanmarhttps://consult-myanmar.com/2018/11/08/myanmar-goes-digital/

NewspapersConsult Myanmar

08 Nov 2018

PwC | November 2018 15

FDI will take a hit if EU removes GSP: DICA

Foreign direct investments (FDI) will suffer ablow if the EU withdraws its Generalised Schemeof Preferences (GSP), under which Myanmarenjoys easy trade access to the world’s largesttrading block.EU FDI in Myanmar as well as FDI from countrieswhich target the EU market through the countrycould take a hit should the EU cancel its GSPprivileges to Myanmar, said U Aung Naing Oo,Director General from Directorate of Investmentand Company Administration (DICA).The EU is considering removing the GSP due tothe ongoing crisis in northern Rakhine. Lastweek, an EU monitoring mission visited Myanmarto meet with government officials, businesses andlabour associations as part of it decision making.As a whole, FDI from the EU accounts for 10pc oftotal FDI to Myanmar. Most of the funds arechanneled into the garment manufacturing sector.Myanmar exports almost half its garmentproducts to the EU.Other countries invest in the Myanmar garmentsector to capture a slice of the EU’s rising demandfor domestically produced textiles, clothing and

footwear.Currently, foreigners dominate 65pc of theMyanmar garment industry, while citizens ownthe remaining 35pc of garment factories in thecountry.Of the foreign-owned factories, around 60pc isrun by the Chinese, which then exports to the EU,according to Myanmar Garment ManufacturerAssociation (MGMA).All that could take a hit if the GSP is removed, UAung Naing Oo said. Before this, Myanmar wasexpected to draw FDI totaling US$5.8 billion thisfiscal year, according to DICA.In addition, the garment manufacturing industryemploys close to half a million workers, at least75pc of which could lose their jobs if the EUblocks Myanmar’s access to its market.“Myanmar is currently undergoing politicalreform towards democracy and part of thatprocess is alleviating poverty levels in the country.

Source: Myanmar Timeshttps://www.mmtimes.com/news/fdi-will-take-hit-if-eu-removes-gsp-dica.html

NewspapersMyanmar Times

08 Nov 2018

PwC | November 2018 16

Myanmar-Laos border gate receives international status

The border gate between Myanmar and Laos hasbeen upgraded and given international status,according to the Ministry of Labour, Immigrationand Population.The ministry has upgraded the Wan Pong checkpoint in Tachilek, Shan State, making it aninternational border entry point for Myanmar andLaos. It has also opened the Myanmar-LaosFriendship Bridge since September under aborder cooperation agreement with the Laotians.The Myanmar-Laos Friendship Bridge linksKyainglap (Kenglap) in Tachileik district andXieng Kok in Luang Namtha, Laos.The border agreement will allow citizens of thetwo countries and third country national travelersto cross the border between Myanmar and Laosthrough Wan Pong with the necessary visas orpassports.The Myanmar-Laos Friendship Bridge wasactually completed during the previousgovernment’s term, however negotiationsbetween both sides on third country nationalentry and border issues has taken more thanthree years, U Naung Naung Han, general

secretary of Union of Myanmar Travel Associationtold The Myanmar Times.The Wan Pong check point is the seventhinternational border gate where third countrynational travelers with passports and visas canpass through after Myawaddy, Kawthaung, HteeKhee, Tachileik, Tamu and Rikhawdar inMyanmar.Before the upgrade, citizens from the twocountries crossed the Myanmar-Laos border withlimited access.There are also no direct flights between Myanmarand Laos, so third country travelers have hd topass Thailand either by air or land to enterMyanmar. “Now we can arrange trips for travelersfrom the two countries without passing through athird country and tourists can also depart throughMyanmar at the new international gate,” U NaungNaung Han said.

Source: Myanmar Timeshttps://www.mmtimes.com/news/myanmar-laos-border-gate-receives-international-status.html

NewspapersMyanmar Times

08 Nov 2018

PwC | November 2018 17

Squeezed by foreign competition, local taxi companies plead for help

Local taxi companies say they are facing a poorbusiness environment even with the departure ofride-hailing company Uber from Myanmar earlierthis year, leaving competitor Grab to dominatethe local market.Before Uber and Grab started operating inMyanmar, taxi services were largely provided bytwo local companies: Hello Cabs and Oway Ride.But four months ago, Hello Cabs cancelled its taxiapp because it could not compete with Grab.In fact, local taxi operators have been asking thegovernment to set regulations to help save localbusinesses, as they are no match for the likes ofGrab.“Right now, Grab dominates the taxi market andwe can›t compete. Local taxi companies startedlong before the rise of the internet in Myanmarand when the international operators entered themarket, they monopolised it by offeringpromotions and incentives to customers,» said UAung Win, managing director of Dagon LogisticsCo Ltd, the company that runs Hello Cabs.Under the country’s current regulatory landscape,no person or business is allowed to monopolise a

market by selling goods at prices lower than cost.However, the regulations do not cover theprovision of services.“We have competition laws that were enacted in2015 but as far as I know the regulations andenforcement under those laws have not yet beenfully fleshed out. We made a presentation to thepresident last year about how the governmentshould step in and take action as local taxibusinesses are suffering from what amounts tocapital dumping, but nothing has come of it yet,»said U Aung Win.Capital dumping is when an organisation sells itsproducts or services at a price lower than theprice charged in its home market or below thecost of production. It is a kind of predatorypricing to increase the market share initially andcharge nominally higher later on. In any case, anyaction would have to come from a competitioncommission which has yet to officially take shape.Source: Myanmar Timeshttps://www.mmtimes.com/news/squeezed-foreign-competition-local-taxi-companies-plead-help.html

NewspapersMyanmar Times

09 Nov 2018

PwC | November 2018 18

Myanmar to hold investment summit early next year

Myanmar will hold its first-ever investmentsummit in the capital city Nay Pyi Taw next year,a senior official told a press conference Tuesday.Organized by the Union of Myanmar Federationof Chambers of Commerce and Industry(UMFCCI), the “Invest Myanmar Summit-2019”will be held in January 28-29, the firstcollaboration summit between the governmentand the country’s private sector.“The summit acts as a platform for the businessesto meet with potential partners and for investorsto have access to union, regional and privatesector business projects”, U Wai Phyo,chairperson of Invest Myanmar Summit said.Investors from Australia, China, China’s HongKong, India, Japan, South Korea, Singapore,Thailand, Britain, the United States and theEuropean Union are invited to the two-daysummit.The summit will also bring together participationsof union ministers, regional governments fromthe country’s nine states and regions, andprofessional organizations.Aimed at attracting more investment to local

businesses, the summit will feature localbusinesses from eight sectors, includingmanufacturing, garment, power generation anddistribution, tourism, education, food processingand fishery, healthcare, infrastructure andproperty.

Source: Consult Myanmarhttps://consult-myanmar.com/2018/11/09/myanmar-to-hold-investment-summit-early-next-year/

NewspapersConsult Myanmar

09 Nov 2018

PwC | November 2018 19

China and Japan set to reshape shipping in Myanmar

NAYPYITAW -- China and Japan are forgingahead with independent plans to improveMyanmar's transportation infrastructure, withprojects that have the potential to alter the flow ofpeople and goods in the region.Beijing on Thursday inked a long-awaited deal tobuild a deep-water port in the town of Kyaukpyuon the Indian Ocean. The port will be a crucialpiece of the China-Myanmar economic corridor,which would connect Kyaukpyu and the Chineseborder via rail and highways.Once completed, the corridor will give inlandChina direct access to the Indian Ocean, and be asymbol of President Xi Jinping's signature Beltand Road Initiative. Already, pipelines arerunning from Kyaukpyu to inland China,transporting oil and gas.Importantly, this route bypasses the Strait ofMalacca, a potential choke point that the majorityof China's crude oil imports travel through.Having an alternative route to deliver energy andgoods to China reduces risks and costs.Meanwhile, Tokyo is set to upgrade a rail routelinking Yangon, the country's largest city, with

Mandalay, its second biggest.Work will begin next week to upgrade the 620 kmof rail linking the two cities. The improvements tothe north-south route will halve the travel time toseven hours from 15, speeding up the flow ofgoods and people.After years of military rule, Myanmar made thetransition to democracy with elections in 2015,and with it has shifted from a centrally directedeconomy to a market-oriented one. The WorldBank estimates the country's growth to average6.9% over the next three years, making it one ofthe world's fastest-growing economies.PriceWaterhouseCoopers calls Myanmar "one ofAsia’s last frontier markets."Yet, the country has drawn broad internationalcondemnation for its treatment of the RohingyaMuslim minority. Both China and Japan havebroken away from the West on this front bycontinuing assistance.Source: Nikkei Asian Reviewhttps://asia.nikkei.com/Business/Business-Deals/China-and-Japan-set-to-reshape-shipping-in-Myanmar

NewspapersNikkei Asian Review

09 Nov 2018

PwC | November 2018 20

‘Myanmar needs to ensure safe and efficient use of its airspace’

Debate is growing over Myanmar’s infrastructureneeds in the aviation sector and whether there isan economic case for a proposed new airport nearYangon in the short-term.Brian Davis, vice president for airlines atHoneywell Aerospace and aerospace leader atHoneywell International in Malaysia, tellsFrontier about his company’s cooperation withthe Department of Civil Aviation and why largerairports and longer runways alone are not enoughto ensure efficiency and safety. What is thegeneral state of Myanmar’s aviationinfrastructure, and what level of investment willbe required to manage future passenger growth?Myanmar’s air passenger traffic has witnessedphenomenal expansion since the country openedup six years ago, with recent figures placing itspassenger growth at a healthy 9 percent in 2017 –driven by its rapid economic progression as wellas Southeast Asia’s roaring economy.The Myanmar government has recognized theimportance of improving existing airportinfrastructure in order to accommodate for thegrowth. For example, Myanmar’s largest airport,

Yangon International Airport (YIA), underwentsignificant upgrades at its terminals and runwaysin a bid to increase its capacity.Additionally, Myanmar needs to ensure safe andefficient use of its airspace. Unlike airportcapacity, airspace cannot be expanded. In otherwords, there are limited air traffic routes andapproach trajectories that are available to, fromand within Myanmar. Honeywell has beenworking with airlines, airports and regulators inMyanmar to better understand their challengesand is committed to help the country deploy thenecessary air traffic management (ATM)technologies to ensure it can sustain the growingnumber of airline passengers.One of the most discussed issues is the proposedmove of Yangon’s main airport to theHanthawaddy site in Bago – a project estimatedat several billion dollars

Source: Frontier Myanmarhttps://frontiermyanmar.net/en/myanmar-needs-to-ensure-safe-and-efficient-use-of-its-airspace

NewspapersFrontier Myanmar

09 Nov 2018

PwC | November 2018 21

Myanmar looks East

The government of Myanmar has launched amajor investment drive centred on Asiancountries in the face of declining interest from theWest."We must be proactive and seek the sort ofinvestment that is good for the country," ThaungTun, head of the Myanmar InvestmentCommission (MIC), who is spearheading thecampaign, told Asia Focus in an exclusiveinterview.A new campaign was recently announced toattract more foreign investment, in what ThaungTun calls a "Look East Policy", aimed at Japan,Korea, Hong Kong and Southeast Asia.India is also is included -- though not strictly eastof Myanmar, it has an eastern or Asian outlook,the investment tsar said. But China, of course,remains central to the government's investmentand development strategy."We are seeking investment that will be a catalystfor change," Thaung Tun said. It won't happenovernight, he admitted, so there are short-,medium-and long-term plans, with specificsectors identified as priority areas: all part of a

20-year investment plan that sets targets up until2036. The government has prioritisedencouraging export and domestic import-substitution businesses to help alleviate the tradedeficit. But developing infrastructure and naturalresources remain key to the country'sdevelopment plans, and attracting investmentinto these sectors is high on the agenda.But Thaung Tun is also interested in boostinginvestment in the agriculture sector. "Leveragingagribusiness can give Myanmar some much-needed quick returns," he said. But apart fromthat it will help with improve food security,essential in a rural-based country where morethan 70% of the population depends on farming,he added. And the MIC chairman is actively tryingto turn strategy into reality. He has already beencourting the major Thai agribusinessconglomerate Charoen Pokphand (CP Group)which has had a presence in Myanmar for morethan 20 years to develop its livestock interests.Source: Mizzimahttp://www.mizzima.com/article/myanmar-looks-east

NewspapersMizzima

09 Nov 2018

PwC | November 2018

2. Weekly Key Policy News

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PwC | November 2018

Weekly Key Policy NewsHeadlines

Myanmar, ROK sign Investment Protection Agreement

Mandalay Region sets new maximum property price at K10 billion per acre

Myanmar still weak in enforcing contracts, protecting minority investors

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Only left-hand drive allowed for import in 2019: govt

CBM allows foreign banks to extend services to local companies

PwC | November 2018 24

Myanmar, ROK sign Investment Protection Agreement

The Agreement on the Promotion and Protectionof Investments between the Government of theRepublic of the Union of Myanmar and theGovernment of the Republic of Korea recentlyentered into force, according to a 4th Novembernews released issued by the Directorate ofInvestment and Company Administration (DICA).Myanmar had a bilateral investment treaty withSouth Korea for the promotion of investmentswhich concluded on 5th June 2014. In accordancewith Article 16, the effective date of theAgreement between Myanmar and South Koreaon the Promotion and Protection of Investmentsis 31st October 2018.South Korea is the fifth largest investor inMyanmar, with 149 South Korea-listed companiesbringing in capital of US$3.8 billion andaccounting for 6 percent of the total foreigninvestment, according to the DICA’s data offoreign investment of existing enterprises.Myanmar has bilateral investment treaties (BITs)with twelve countries, including China, India, thePhilippines, Japan and South Korea.Also, the 3rd round of meetings on the Promotion

and Protection of Investment Agreement betweenthe Republic of the Union of Myanmar and theRepublic of Singapore was opened at theMyanmar Investment Commission Office inYangon on 9thJuly, 2018.Matters of reciprocal protection and promotion ofinvestment between the two states werediscussed.The BITs aim to minimize investment barriers,encourage investments and create moreopportunities for investors.

Source: Global New Light of Myanmarhttp://www.globalnewlightofmyanmar.com/myanmar-rok-sign-investment-protection-agreement/

05 Nov 2018

NewspapersGlobal New Light of Myanmar

PwC | November 2018 25

Mandalay Region sets new maximum property price at K10 billion per acre

The Mandalay regional government has released aproperty valuation scheme for stamp dutyassessment for the new fiscal year that started inOctober, setting the maximum standard price forproperty within in the city at K10.20 billion(US$6.33 million) per acre.The maximum price are for those properties is inChan Mya Tharsi, Chan Aye Tharzan, Aung MyayTharzan, Pyi Gyi Tagon, Maha Aung Myay andAmarapura townships in the Mandalay municipalarea.The area is located in a ward around Pat Kone inChan Aye Thazan Township along the 26th Streetand prices are set from a minimum of K9.7 billionto a maximum of K10.20 billion per acre.On Theik Pan Road between 64th and 69thstreets, the prices range from K7.5 billion to K8billion, while on from 35th to 40th streets theprices are from K9 billion to K9.5 billion.Under the Union Tax Law of 2016, propertiesvalued up to K30 million, will be subject to a 15-percent stamp duty. For properties that arevalued between K30 million to K100 million, astamp duty rate of 20pc will be levied and 30pc

will be slapped on properties above K100 million.Due to the high stamp duty rate, the sales ofproperties worth over K30 millon has dropped.Before the new valuation scheme, the stamp dutyrate was 3pc for properties worth K100 million,5pc from K100 million to K500 million, 10pc fromK500 millions to K1 billion, and 20pc from K1billion to K1.5 billion. Properties valued at overK1.5billion were taxed at 30pc for stamp duty.“I’ve heard about the new norms to levy stampduty. I don’t know the details. The new normsshould be convenient to all and should not be toohigh. We can boost property sales if the stampduty rates are not high. The property market hasbeen cold for years,” said U Aung Win, real estateagent in Mandalay. Stamp duties should not beconfused with property tax. Bi-annual propertytaxes paid by many urban residents in Myanmarare very low, merely worth the price of two cupsof local tea, according to one study.Source: Myanmar Timeshttps://www.mmtimes.com/news/mandalay-region-sets-new-maximum-property-price-k10-billion-acre.html

NewspapersMyanmar Times

06 Nov 2018

PwC | November 2018 26

Myanmar still weak in enforcing contracts, protecting minority investors

Myanmar has done undertaken two reforms toimprove access to power supply and the ease ofstarting a local business, according to the latestreport from the World Bank. However, pace ofreform on most regulations affecting the privatesector remain stagnant.In the newly-released World Bank’s 2019 DoingBusiness rankings, Myanmar ranks 171th out of190 economies in the overall ease of doingbusiness, unchanged from last year’s position. Itis the third consecutive year where the countryfails to advance its ranking, remaining as theworst place in ASEAN to conduct business.Economies are ranked on their ease of doingbusiness, from 1-190, based on the average ofeach economy’s ease of doing business scores forthe 10 topics, which capture several importantdimensions of the regulatory environment as itapplies to local firms. The analysis providesquantitative indicators on regulation for starting abusiness, dealing with construction permits,getting electricity, registering property, gettingcredit, protecting minority investors, payingtaxes, trading across borders, enforcing contracts

and resolving insolvency. An economy’s ease ofdoing business score is reflected on a scale from 0to 100, where 0 represents the lowest and 100represents the best performance. Myanmar scoresan average of 44.72, which is the lowest inASEAN, compared to the second lowest-scoredLaos with 51.26 and the regional average for EastAsia and the Pacific with 63.41.Aspects with the lowest scores (out of 100) forMyanmar include getting credit (10.00), resolvinginsolvency (20.39), enforcing contracts (24.53)and protecting minority investors (25.00).Meanwhile, areas which perform the most poorlycompared to other economies (out of 190countries, with 1st being the best) are enforcingcontracts (188th), protecting minority investors(185th), getting credit (178th) and trading acrossborders (168th) as well as resolving insolvency(164th). These are key aspects which thegovernment needs to work hard on.Source: Myanmar Timeshttps://www.mmtimes.com/news/myanmar-still-weak-enforcing-contracts-protecting-minority-investors.html

NewspapersMyanmar Times

06 Nov 2018

PwC | November 2018 27

Only left-hand drive allowed for import in 2019: govt

Only left-hand drive vehicles can be imported intoMyanmar next year, the authorities haveannounced.Myanmar’s Supervisory Committee for MotorVehicles Import outlined sthe new auto importpolicy on October 26. But the announcement didnot improve confidence in the auto market.The government lays out the vehicle import policyevery year. This year, there was not much surprisein what the new policy would mean. Car dealerssaid they had prepared for the measure prior tothe policy release.Last year, the import policy sent shockwaves inthe automotive market when the authorities saidin October 2017 that the majority of the carsimported must be left-hand drive. This wascontroversial for consumers as many prefer usingsecond-hand Japanese right-hand drive cars.This, however, has a rationale as there is agenuine concern about road safety.Consumers had many questions such as whichbrands they should choose for left-hand drive andare also worried about the quality of vehicles.Since U Thein Sein’s tenure, Nay Pyi Taw is keen

to replace older cars with new ones. Importerslast year were worried that they would not be ableto import right-hand drive vehicles anymore, andhence stockpiled as many as possible.Right-hand drive cars experienced a priceincrease. But in the long run, car brokers cannotraise the price of those secondhand cars, so therewould be a big problem.Buyers are used to comparing brand new carsproduced under the “semi-knocked-down” system(SKD)in Myanmar like Japanese Suzuki, andNissan and used car prices. Up until now, Suzukihas been the best seller in the market.“The new policy announced this year is not toospecial and nobody wants to import cars fromother countries. If they do import, they will losetheir money. It is right that the people favour theJapanese cars but no more,” said Sakura Car SalesCentre director U Aung Naing Tun.

Source: Myanmar Timeshttps://www.mmtimes.com/news/only-left-hand-drive-allowed-import-2019-govt.html

NewspapersMyanmar Times

07 Nov 2018

PwC | November 2018 28

CBM allows foreign banks to extend services to local companies

The Central Bank of Myanmar (CBM) has grantedpermission to 13 foreign banks, who already havebranches in the country, to extend their servicesto local companies, according to a directive issuedby the CBM on 8 November.The move aims to level the field for domestic andforeign banks, and improve access to funds forlocal companies. According to the new directive,foreign banks will now be allowed to extendfinancing and other banking services to localcorporates.“The move is to improve access to finance.Funding for businesses is of vital importance inthe current economic climate. When the foreignbanks were permitted to set up branches, theywere given a timeline for when each step is to beaccomplished. Therefore, it is time to ease theirrestrictions,” said U Win Thaw, Director-Generalof the Governor’s Office of the CBM.The foreign banks can lend to local businesses, asper the CBM’s interest rates, set according to theFinancial Institutions Law 2016. They are onlyallowed to lend in Myanmar’s currency. The CBMwill soon announce the details of other services

the banks can now provide.“We had some time with the foreign bankbranches for market analysis and preparation.Similarly, local private banks had time to makethemselves more competitive,” said U Win Thaw.“The banking sector plays a critical role ineconomic growth. Only a well-developed bankingsector can enable the development of our country.This directive aims to boost economic growth,with foreign bank branches investing in domesticfinancial markets. Both domestic- and foreign-owned banks were given specific timelines for acompetitive market,” he added.U Than Lwin, a senior consultant at the KBZbank, said the directive does not detail otherservices foreign banks can now provide.“If foreign banks are allowed the same rights asdomestic banks, we may face difficulties in acompetitive market”, he said.

Source: Global New Light of Myanmarhttp://www.globalnewlightofmyanmar.com/cbm-allows-foreign-banks-to-extend-services-to-local-companies/

08 Nov 2018

NewspapersGlobal New Light of Myanmar

PwC | November 2018

3. Weekly Investment News

29

PwC | November 2018

Weekly Key Investment NewsHeadlines

Myanmar’s Rent 2 Own bags $6m funding from DEG, agRIF, Daiwa PI

Myanmar startups draw international investor interest

EME Myanmar takes significant minority stakes in CarsDB, Joosk

30

Yoma to bring pretzel chain Auntie Anne’s to Myanmar; New Day wins Seedstars Yangon 2018

Kyaukphyu port: What happens next?

PwC | November 2018 31

Myanmar’s Rent 2 Own bags $6m funding from DEG, agRIF, Daiwa PI

Rent 2 Own (Myanmar) Ltd, a motorcycle rentalservice, has raised $6 million in fresh fundingfrom Germany’s development finance institutionDeutsche Investitions- undEntwicklungsgesellschaft mbH (DEG), and agRIF,an impact-focused fund managed by globalimpact asset manager Incofin InvestmentManagement. Daiwa PI Partners, an investmentarm of Daiwa Securities Group, is also picking upa stake in Rent 2 Own by buying out an existingshareholder, the company announced on Monday.Launched in January 2016, Rent 2 Own chargesusers a monthly fee, which covers maintenanceand insurance, to rent a motorcycle. Users canupgrade from an old motorcycle and/or purchasethe bike during the duration of the contract.“We’ve partnered with over 400 motorcycledealers in the country. We offer their clients afully insured bike, as well as maintenance, againsta monthly fee, and they seem to love it!” saidPhilippe Lenain, CEO of Rent 2 Own. “So far theonly limitation of Rent 2 Own’s growth has beenour limited capacity to access funding,” he said.Lenain has experiences across Asian frontier

markets (Cambodia and Vietnam) and haspreviously led a consumer finance company and amotorcycle hire-purchase firm in Vietnam. Rent 2Own expects to use the proceeds from the latestfunding for its next phase of expansion. “In thenext five years, Rent 2 Own plans to serveapproximately 400,000 active clients,” said acompany spokesperson.Headquartered in Yangon, it claims to haveserved about 70,000 clients through 34 branchesacross Myanmar, with coverage spanningAyeyarwaddy Region to Shan state. It plans toopen more than 150 new branches to achieve itsfive-year target. Prior to the current fundinground, Rent 2 Own had raised a $4 million equityinvestment from a pool of investors includingtrusts, boutique investment firms, and a numberof small private seed investors.

Source: Deal Street Asiahttps://www.dealstreetasia.com/stories/myanmar-rent2own-deg-daiwa-pi-110514/

NewspapersDeal Street Asia

05 Nov 2018

PwC | November 2018 32

Myanmar startups draw international investor interest

Interest in Myanmar’s startups has been on therise as investors scour the market for potentialreturns.Yesterday, Germany’s development financeinstitution DEG and agRIF, an impact focusedfund which provides funding to financialintermediaries targeting smallholder farmers andthe rural population, announced a jointinvestment of US$6 million in Rent 2 Own(Myanmar) Ltd (R2O).agRIF is managed by Incofin InvestmentManagement, a global impact asset manager.Daiwa PI Partners, an investment arm of a majorJapanese securities firm group, is also taking astake in the venture by fully purchasing sharesfrom one existing shareholder.R2O, which provides rural populations with easyaccess to motorcycles by offering flexible andaffordable contracts, first launched in January2016. Since then, R2O has served 70,000 clientsthrough its network of 34 branches covering anarea of Central Myanmar that ranges from theAyerwaddy delta to the mountains of Shan State,the startup said.

The startup now supports one third of allmotorcycle sales taking place in the shops theycover. “We’ve partnered with over 400 motorcycledealers in the country to offer their clients a fullyinsured bike, as well as maintenance, for amonthly fee, R2O CEO Philippe Lenain said in astatement.“So far, the only limitation to R2O’s growth hasbeen our limited capacity to access funding,” headded.Venture capitalMeanwhile, Emerging Markets Entrepreneurs(EME), an early stage venture capital firmfocusing on Myanmar, which launched its fund inthe country on October 31, has announced its firsttwo investments in animation and illustrationstartup Joosk Studio, as well as online car tradingplatform CarsDB.

Source: Myanmar Timeshttps://www.mmtimes.com/news/myanmar-startups-draw-international-investor-interest.html

NewspapersMyanmar Times

06 Nov 2018

PwC | November 2018 33

EME Myanmar takes significant minority stakes in CarsDB, Joosk

Myanmar-focused early-stage venture firmEmerging Markets Entrepreneurs (EME)Myanmar, has taken a significant minority stakeinvestment in CarsDB, an online platform fortrading new and used cars, and Joosk Pte Ltd, adigital animation and illustration company,according to an announcement. The new fund,EME Myanmar, was launched last month by UMJIkeya Investment Ltd, a Myanmar-focusedinvestment firm with backers including EmergingMarkets Investment Advisors (EMIA), UnitedManagers Japan, the Dutch Good Growth Fundand Singapore-based angel investor, Dr Yit FanWong. This portal previously reported that EMEMyanmar, with an initial corpus of nearly $3million, is looking for investments with a ticketsize of between $50,000 and $200,000 withoptions to make follow-on rounds in promisingcompanies. The investment in CarsDB is a jointinvestment between EME Myanmar, which ledthe round, and another investor. In 2014, theclassifieds portal secured its first round fromAustralian-listed investment firm Frontier DigitalVentures. “EME will help CarsDB grow by

providing key consultation on financial modeling,data science and strategy for new productlaunches,” as mentioned in the release. EME isalso looking to leverage on its partners, Oway forvehicle hire, and GL AMMK, which ownsexclusive rights to finance Honda bikes inMyanmar, for auto financing. Oway, GL-AMMKand Bagan Innovation Technology are among theinvestments of UMJ Ikeya. Joosk – known for itsanimation series Gwen University and Bee Beeand Friends – has previously received investmentfrom Ikeya Capital Management. Its clientsinclude institutions like World Bank, UNICEF andWFP. EME Myanmar is looking to support Jooskwith business development, financial analysis andB2B sales. EME said it will facilitate the digitaldistribution of Joosk’s upcoming app through theplatforms of Bagan Innovation Technology.

Source: Deal Street Asiahttps://www.dealstreetasia.com/stories/eme-myanmar-takes-significant-minority-stakes-in-carsdb-joosk-110618/

NewspapersDeal Street Asia

07 Nov 2018

PwC | November 2018 34

Yoma to bring pretzel chain Auntie Anne’s to Myanmar; New Day wins Seedstars Yangon 2018

Yoma Strategic Holdings has partnered withFOCUS Brands to bring pretzel chain AuntieAnne’s to Myanmar. In other news, jobsmarketplace New Day won the Seedstars Yangon2018 competition. Yoma Strategic to bring pretzelchain Auntie Anne’s to Myanmar SGX-listedYoma Strategic Holdings Ltd and Atlanta-basedFOCUS Brands Inc, which operates restaurantsand cafés, have signed a franchise agreement tobring pretzel chain Auntie Anne’s to Myanmar.Auntie Anne’s is currently available across almost30 countries in Asia. “We are seeing considerablegrowth in the market for freshly baked goods.While many street vendors do offer traditionalMyanmar alternatives, the addition of an iconicinternational brand will only enrich the localfoodscape,” said Melvyn Pun, CEO of YomaStrategic. With the first Auntie Anne’s outletslated to open in Yangon, the brand is eyeing awider presence in the country over the next fiveyears. FOCUS Brands Inc is also the franchisorand operator of over 6,000 ice-cream shops,bakeries, restaurants and cafes under brands suchas Carvel, Cinnabon, Jamba Juice and

Schlotzsky’s. Other franchises that Yoma Strategichad brought into the country include KFC andLittle Sheep Hotpot. New Day wins SeedstarsYangon 2018 New Day (Neh Thit), an onlineplatform connecting businesses with job seekers,was named the winner of Seedstars Yangon 2018,the Myanmar segment of the Swiss startupenabler Seedstars World. Recyglo, a recyclablespick up service, and Lae Lar, an online learningplatform targeting locals, rounded off the topthree startups chosen at this year’s SeedstarsYangon. MMTutors, Next Code, My Healthcare,KLENIC, Giant Pay and 360ed were the otherstartups that participated this year.Rosie Keller, regional manager for Asia,Seedstars, said over 40 applications for Myanmarwere received this year, with higher interest seenfrom healthtech and edtech startups.

Source: Deal Street Asiahttps://www.dealstreetasia.com/stories/yoma-auntie-annes-new-day-seedstars-110677/

NewspapersDeal Street Asia

07 Nov 2018

PwC | November 2018 35

Kyaukphyu port: What happens next?

After more than two years of negotiations, theMyanmar government and China’s state-ownedCITIC Group signed the framework agreement forthe proposed US$1.3 billion deep-sea port inKyaukphyu on November 8.At the press conference, CITIC chair ChangZhenming said this meant “the beginning offurther steps”. “Signing this agreement is thestarting step for our businesses. There are variousactivities ahead,” he remarked. U Set Aung, aschair of Kyaukphyu SEZ Management Committee(KSMC), said the project will not amount to debtburden for Myanmar. “Many negotiations weremade to make the project sustainable and to avoida burden for Myanmar both at present and in thefuture,” he explained, pledging transparency inthe process.The CITIC chair emphasised that it is a Belt andRoad Initiative project and will connect Myanmarwith the regional networks. The port will beconnected to Western China and through Chinaand the Pacific, as well as to the “East-WestEconomic Corridor”, joining other ASEANeconomies. Deputy commerce minister U Aung

Htoo said an Environmental and Social ImpactAssessments (ESIA) will commence in a year andthe two parties will work to move forward theproject based on the framework agreement, whichcovers the construction of two deep-water berths.New industrial zones will be negotiated and“about three framework agreements will bemade.” The proposed Kyaukphyu SEZ, located incentral Rakhine State, originally consisted of anindustrial park and a deep-sea port. In 2015, aCITIC-led consortium won the bid to developboth components. The National League forDemocracy-led government pushed the stakeratio to 70:30 from 85:15. The US$7.5 billionestimated price tag of the port was subsequentlyreduced to $1.3 billion, regarding the first phaseof the project. Myanmar is expected to give half ofits 30pc to private companies. Currently, 50 localfirms expressed an interest to invest in theproject. Chang Zhenming added that, in a decade,90pc ofSource: Myanmar Timeshttps://www.mmtimes.com/news/kyaukphyu-port-what-happens-next.html

NewspapersMyanmar Times

09 Nov 2018

PwC | November 2018

3. Weekly New Tenders

36

PwC | November 2018

Tenders (Myanmar)List

Note: tenders information are collected from http://www.mmtimes.com/, https://tender.yangon.gove.mm, http://consult-myanmar.com/, and http://www.myanmar-opportunities.org/mm/tenders http://www.buildersguide.com.mm/en/ .

37

MNREC: Request for expressions of interest to conduct detailed feasibility studies and measurement of limestone deposits before considering the setting up of a cement plant in Chin State.Closing Date: 30 November 2018

MOEE: Invitation for Prequalification for Hydro Power Plant Rehabilitation ProjectClosing Date: 18 December 2018

PwC | November 2018

Tenders (Multilateral organizations) List

Note: tenders information are collected from https://wbgeconsult2.worldbank.org, www.devex.com, www.adb.org, https://www.ungm.org

38

ADB: TA-9620, Preparation of the ADB Ventures Facility - 001 Project Manager (52295-001)Closing Date: 10 November 2018

ADB: TA-9416 REG, Sustaining the Gains of Regional Cooperation in the Greater Mekong Subregion- North-South Economic Corridor in Myanmar and PRC (51178-001)Closing Date: 14 November 2018

PwC | November 2018

4. MIC Permitted Projects

39

PwC | November 2018

MIC Permitted Projects (Meeting 18, 2018)

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No. Name of Company Type of Investment Form of Investment

1 Myanmar BAF Joint Venture Co., LtdPig breeder farm and sales of weaner and fattener

Joint Venture

2 Tiger Infrastructure Myanmar (TIM) Co., LtdConstruction, leasing and maintenance of telecommunication towers, proving services and power system

Joint Venture Investment

3 Southern Myanmar Development Co., LtdConstruction of pipeline jetty and storage facilities, importation, storage, distribution and sales of fuel

Joint Venture

4 Myanmar Noble Co., Ltd Private higher education university Wholly Myanmar Owned

5 Royal British International Co., Ltd Education services Wholly Foreign Owned

6 Victoria Uni Co., Ltd Victoria University College Wholly Myanmar Owned

Source: DICA

PwC | November 2018

5. Upcoming Events

41

PwC | November 2018

Upcoming Events (November 2018) List

Date Location Name of Event Sector Price Focus Points

10-11 Nov 2018 Yangon Myanauto Automobile Free

“This is an international auto parts,accessories, services & repair equipmentshow which will provide the ideal marketingvenue for auto, auto parts, accessories andservice, and repair equipmentmanufacturers and suppliers to meet face-to-face with key buyers and business owners.”

15-16 Nov 2018 YangonMyanmar LPG Trade Summit

EnergyUSD 1,395

“focuses on developing LPG supply chain inMyanmar, LPG imports into Myanmar &storage, establishing logistics & distributionnetwork of LPG in Myanmar, best practice inLPG cylinder management & safety, LPGmarketing & increasing adoption/usage inresidential & commercial market,...”

16-18 Nov 2018 Yangon Myanbuild Construction Free

“an international building and constructionindustry exhibition and conference whichshowcases a wide range of industry-relatedproducts and services from variousinternational brands”

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Note: Events information are collected from https://www.go-myanmar.com/events-and-conferences and https://10times.com/myanmar .

PwC | November 2018

Upcoming Events (December 2018) List

Date Location Name of Event Sector Price Focus Points

29 Nov - 01 Dec 2018

Yangon Myanwater Water Free

“an international water and wastewatertechnology show which discusses varioustechnologies relating to the water andwastewater management…”

06-08 Dec 2018

Yangon Agrilivestock MyanmarAgriculture and livestock

Free

“economists are anticipating huge growthwithin Myanmar's livestock and agricultureindustry over the course of the next decadeas rising domestic demand as well as acompetitive export market pave the way forincreased investment in the sector…”

06-09 Dec 2018

Yangon

Myanmar International Textile & Garment Industry Exhibition

Textile and Garment

Free

“an international exhibition whichshowcases machinery for man-made fibreproduction, machinery for winding,texturing, twisting, knitting machines, textilechemicals, etc”

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Note: Events information are collected from https://www.go-myanmar.com/events-and-conferences and https://10times.com/myanmar .

© 2018 PricewaterhouseCoopers Myanmar Co Ltd. All rights reserved. In this

document, “PwC” refers to PricewaterhouseCoopers Myanmar Co Ltd, which is

part of the network of member firms of PricewaterhouseCoopers International

Limited, each of which is a separate and independent legal entity.

www.pwc.com/mm

PwC Myanmar Weekly Business Intelligence Publication

For further information please contact:

Jovi SeetSenior Executive Directorjovi.seet@sg.pwc.com

Brandon LyeDirectorbrandon.ys.lye@sg.pwc.com

44