PwC MyanmarWeekly Business Intelligence

Issue 8929 December 2017

www.pwc.com/mm

PwC | December 2017

Disclaimer

PricewaterhouseCoopers Myanmar Co., Ltd helps organisations and individuals create the value they’re looking for. We’re a member of the PwCnetwork of firms in 158 countries with more than 226,000 people who are committed to delivering quality in assurance, advisory and tax services.Tell us what matters to you and find out more by visiting us at www.pwc.com/mm.

This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.

© 2017 PricewaterhouseCoopers Myanmar Co., Ltd, a company duly established and operating under the laws of Myanmar. All rights reserved.PwC refers to the Myanmar member firm, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please seewww.pwc.com/structure for further details.

The information contained in this publication is for general guidance on matters of interest only and is not meant to be comprehensive. Theapplication and impact of laws can vary widely based on the specific facts involved. Before taking any action, please ensure that you obtain advicespecific to your circumstances from your usual PricewaterhouseCoopers Myanmar Co., Ltd client service team or your other tax advisers.

2

PwC | December 2017

1. Weekly Key Financial & Business News

3

PwC | December 2017

Weekly Key Financial & Business NewsHeadlines

Myanmar’s Leading Call Center Steps Into Mobile Platform

Myanmar initiates a new programme on Authorized Economic Operators-AEO

International Gateway Licenses issued

Index Creative Goes Online in Myanmar

4

New housing bill seeks to better protect apartment owners

PwC | December 2017

Weekly Key Financial & Business NewsHeadlines

High stamp duties weigh on property demand

Yangon MPs condemn large-scale housing project

Myanmar’s 2018 foreign policy outlook

Myanmar boosts electricity access through off-grid solutions

5

Branch Transformation Strategy for Myanmar’s Fastest Growing Banks

PwC | December 2017 6

Myanmar initiates a new programme on Authorized Economic Operators-AEO

As part of Myanmar government’s efforts toenhance customs administration, the CustomsDepartment initiated the new program onAuthorized Economic Operators-AEO andconducted the public awareness for the importand export companies, agencies, freightforwarders and departments concerned at theUnion of Myanmar Federation of Chambers ofCommerce and Industry (UMFCCI), Yangon.This new program aims to allow trade operatorswith a good record of customs compliance and asolid commercial records management system, toreceive a range of trade facilitation benefits,including quicker customs processing, accordingto the State Counsellor’s office on December 22.By initiating AEO programme, Myanmar Customsis implementing the Strategic Plan of CustomsDevelopment- SPCD-8 to enhance the security ofthe global supply chain and facilitate trade.Myanmar is also ensuring adherence to theASEAN Trade in Goods Agreement and in linewith important World Customs Organization’sinternational standards and the World TradeOrganization’s Trade Facilitation Agreement.

Source: Mizzima Newshttp://www.mizzima.com/business-domestic/myanmar-initiates-new-programme-authorized-economic-operators-aeo

NewspapersMizzima News

23 Dec 2017

PwC | December 2017 7

Myanmar’s Leading Call Center Steps Into Mobile Platform

Myanmar’s leading call center steps into mobileplatform arena to provide its services via a mobileapplication, according to Business OutsourceSolution Services Co., Ltd.The company said that it is developing a mobileapplication that would be ready in 2018 to use itsservices via online.‘‘We decided to develop a mobile app for Androidusers, since number of mobiles users is surging.The app will allow users to ask what they wantwithout needing to call into the center. However,we will still operate the call center,’’ U Tin Ko KoWin, Chief Executive Officer from BusinessOutsource Solution Services Co., Lid, subsidiaryof Blue Ocean Operating Management, said.This mobile app will allow users to get access tothe information they want, in one place, and withcheap service charges.‘‘User can use the services with reasonable servicecharges. In the meantime, I can’t say what theexact charges will be, because the app is still indevelopment,’’ he said.The number of calls to 1876 call centre is gradu-ally decreasing as a result of people turning to the

internet for the information they want.There were about 10,000 calls before but thenumber has decreased to half.Blue Ocean Operating Management Company isproviding SMS service, mobile app for voice ser-vices, Blue Planet for entertainment, Doctor onCall for healthcare services, and Myanmar Pay-ment Solution Services for Mobile Money.

Source: Myanmar Business Todayhttps://www.mmbiztoday.com/articles/myanmar-s-leading-call-center-steps-mobile-platform

NewspapersMyanmar Business Today

26 Dec 2017

PwC | December 2017 8

International Gateway Licenses issued

The Ministry of Transport and Communications(“MTC”) and Posts and TelecommunicationsDepartment (“PTD”) have finally come throughthe long process of obtaining governmentapproval and issued the first batch ofInternational Gateway (“IGW”) licenses.Around a dozen of companies have received theirIGW licenses and new licenses will continue to beawarded. A glimpse at the IGW licensees listshows that “early birds” are more likely to gettheir IGW licensees than late comers. All licenseeswere granted with their first telecom license inearly 2015. The list also shows a favor to localcompanies but at least several of them are foreigncompanies.As a reminder here are a few key points aboutIGW in Myanmar.Can foreign companies get the IGW license, andhow?The IGW license application is open for foreigncompanies registered in Myanmar. Previously wehave covered the qualification of the IGW licenseeand application procedures in our legal wire.Myanmar Opens Applications for International

Gateway Licenses: Foreign Applicants WelcomeTo apply for an IGW license, an applicant shouldcomplete the application form with the requiredinformation like proposed IGW locations, launchdate, etc. The application shall be accompaniedwith supporting documents including:

• corporate documents• the affiliated telecom license• technical plan• business plan• financial plan

The applicant being granted with an IGW licenseshall also provide a bank guarantee of US$1million to the PTD to guarantee that it will meetthe proposed launch day, or a fine will be imposedby the PTD in accordance with the length of delay.

Source: VDB Loihttp://www.vdb-loi.com/mlw/international-gateway-licenses-issued/

NewspapersVDB Loi

26 Dec 2017

PwC | December 2017 9

Index Creative Goes Online in Myanmar

Index Creative Village Plc, the country’s largestcreative events organiser, is expanding its onlinepresence in Myanmar, as people there becomeincreasingly attached to social media platformslike Facebook and YouTube.Founder and group chief executive KreingkraiKanjanapokin said apart from building up itspresence in Myanmar, Index Creative Village isalso partnering with tech startup Happio toprovide business opportunities for Thais whowant to expand to neighbouring countries.“Higher technologies have been playing a majorrole in Myanmar. Increased internet access andsocial media usage will provide new businessopportunities,” said Mr Kreingkrai.He said the partnership with Happio will helpdrive international business next year, with digitalmarketing strategies helping reach Myanmarcitizens at home and in Thailand.“I’m optimistic that Index Creative Village willprovide effective tools for Thai businessmenconnecting to Asean countries,” said MrKreingkrai.Khanit Aramkitpota, general manager of Happio

Co, said that Myanmar’s consumer trends haverapidly changed as people there prefer modernlifestyle trends, as evidenced through theemergence of modern department stores,international restaurants, luxury hotels andspeciality coffee shops.Mr Khanit said Happio and Index Creative Villageare seizing on this tend by using the onlinemarketing platform to maintain awareness andconnect with the growing number of internetusers in Myanmar.The latest research done by Index Creative Villageand Happio finds media consumption inMyanmar has grown, especially online. The topfive media platforms in Myanmar by usage areTV, radio, Facebook, print and internet,accounting for 32%, 17%, 14%, 8% and 14%,respectively. But the biggest growth went toFacebook and the internet, at 90% and 40%.

Source: Consult Myanmarhttps://consult-myanmar.com/2017/12/27/index-creative-goes-online-in-myanmar/

NewspapersConsult Myanmar

27 Dec 2017

PwC | December 2017 10

New housing bill seeks to better protect apartment owners

Those looking to purchase apartments will soonbe able to obtain certification to legally take outloans from banks.Director-General Min Htein from the Urban andHousing Development Department claimed onDecember 26 that the decision will make the loanprocess smoother between borrowers and banks,as there will be more assurance.As of now, the hire purchase loans and othersimilar loan schemes operate sluggishly due to thefact that newly built apartments, especially insuburban areas, are constructed only through amutual understanding between the builders andland owners.Those looking to purchase apartments have toeither put up a mortgage on their existingproperties, go through property agents to act asguarantors or ask business organisations theywork for to vouch for them.The housing bill, now under discussion betweenproperty sector experts and legislators, will beable to provide better legal security to apartmentowners.“As it is currently in urban areas, most housing

units works this way; there is one party that isliving in the apartments and the party thatactually owns the land the apartments are builton. The extant laws dictate that those living in theapartments have no real say over the land owners.If this bill gets passed, many lives will becomebetter as a result,” said Min Htein.The bill will also seek to act as a solution towardsa variety of legal and social issues that hadderived over the years as a result of Myanmar’sfledgling legislation over property ownership.

Source: Eleven Myanmarhttp://www.elevenmyanmar.com/business/12915

NewspapersEleven Myanmar

27 Dec 2017

PwC | December 2017 11

Yangon MPs condemn large-scale housing project

Yangon Region MPs have heavily criticised theEco Green City housing project to be built in BagoTownship for failing to submit detailed plans.Dagon Township’s MP Kyaw Zayya claimed thateven though everyone knew about the 1,400-acre-plus project and that Shwe Than Lwin group wasbehind it, not once has it been properly handledby either the regional or Union parliaments.“We’ve known about it since the squatters on thatland were being chased away. The company,Alliance Star, is Shwe Than Lwin. They initiallyasked for 20 acres of land regarding Media Villagebut the government discussed with them alsoabout building on this land.“I’ve been waiting for this project to be broughtup in the Union (parliament). I’ve not heard hidenor hair of it. I’m a part of the region, so I alsoknow that it’s not been properly discussed,” saidthe MP.He claimed that this large project seemed to get apass without anyone discussing important thingssuch as the contract with the government and/oreven a tender process.An event commemorating the initiation of the Eco

Green City was held on December 23, attended bymany high ranking officials including UnionMinisters and MPs among them.MP Kyaw Kyaw Tun said that it was brieflybrought up in the Yangon parliament as a follow-up plan for Yangon mega city development towhich MPs responded by requesting the project tobe submitted independently on its own withminute plans.He said that ever since then no word had comeback to the parliament until they started initiatingon the project.“We only asked for an independent submission.We didn’t say no. These things should be donethrough the parliament because it’s a big project.It’s a democracy and MPs representing the peoplemust be respected and informed. Only then wecan discuss and input recommendations. But thedetails were never brought to the parliaments.There’s no transparency. We weren’t informedanything in-depth about this,” said MP KyawKyaw Tun.Source: Eleven Myanmarhttp://www.elevenmyanmar.com/business/12916

NewspapersEleven Myanmar

27 Dec 2017

PwC | December 2017 12

High stamp duties weigh on property demand

The property sector ended 2017 on a subduednote, with residential real estate prices anddemand literally unchanged from the start of theyear.In Mandalay, few transactions took place forinvestment purposes, and, with stamp dutiesrising and demand declining since 2011, a risingnumber of existing investors have started sellingtheir properties at a loss to buyers looking for newhomes.“The market is so quiet. We have only hadenquiries from a few interested people who wantto buy land or homes to live in this year,” said UPyuu Gyi, a property agent from Pyigyitaguntownship, Mandalay.The way he tells it, investor interest in the localproperty market has trickled dry over the past fiveyears. “This year, only those looking for newhomes to live in have been active in the market,”he said.With the market weakening each year anddemand at a six-year low, many existing investorsare now desperate to sell.“Sellers know it’s a buyers’ market now so they

have been more willing to negotiate and settle atreduced prices. So, there are a few salestransactions taking place, albeit it at much lowerprices,” said U Wanna Soe, a property agent fromPhoe Lamin Real Estate.The Myanmar property market has slowedmarkedly since prices first surged in 2011, on theback of speculative demand from investors afterformer president U Thein Sein’s governmentcame into power.In Mandalay, demand has fallen for the past sixyears, even after the last election which broughtDaw Aung Sang Suu Kyi’s government into power.For the 2016-17 fiscal year, just over 600 newsales registrations took place compared to 1,603registrations in the 2015-16 fiscal year, said U TinAung, MP for Chanmyathazi township, SouthMandalay.That has all left investors who entered the marketstranded and unable to sell their properties for aprofit.Source: Myanmar Timeshttps://www.mmtimes.com/news/high-stamp-duties-weigh-property-demand.html

NewspapersMyanmar Times

29 Dec 2017

PwC | December 2017 13

Myanmar’s 2018 foreign policy outlook

China and India will dominate Myanmar’s foreignpolicy stage, and their dealings with the rest ofASEAN will grow during 2018. Sandwichedbetween two active Asian giants, Nay Pyi Taw willhave to balance its relations carefully as India andChina vie with each other for greater influence.Most importantly, Myanmar must avoid beingsucked into conflict zones in their common areasof influence and know how to duck wheneverthese two confront one another.In the months and years to come, the crisis inRakhine State will remain a key area whereBeijing and New Delhi will continue to compete,displaying goodwill to help their troubledneighbour. Furthermore, they will try to mitigateany repercussions from the growing internationalcondemnation of its handling of the crisis and themyriads of problems caused by the massiveexodus to Bangladesh, which is now estimated tonumber 750,000 people. The internationalcommunity will continue to step up pressure onMyanmar to accelerate efforts to repatriate moredisplaced people. But the real problems on theground still need to be overcome.

From now on, China will have a special role toplay in Myanmar. China’s new foreign policyunder President Xi Jinping will increaseengagement with Nay Pyi Taw in all areas. Sincethe end of the 19th National Congress of theCommunist Party of China, Beijing has beenactively facilitating peace talks and providinghumanitarian assistance. The Rakhine crisispresents an excellent opportunity for China to testits diplomacy as never before.In a similar vein, India would not easily let go ofits involvement in Rakhine. During his recent visithere, Indian Foreign Secretary S Jaishankarpledged to provide US$25 million (K34 billion)for the next five years to Myanmar to develop thetroubled province. India knows it has an edgeover China in raising the education standard,healthcare and human resource training as well asin empowering women and nurturing children inthe region.

Source: Myanmar Timeshttps://www.mmtimes.com/news/myanmars-2018-foreign-policy-outlook.html

NewspapersMyanmar Times

29 Dec 2017

PwC | December 2017 14

Myanmar boosts electricity access through off-grid solutions

Given the rising need for power in Myanmar, thegovernment has intensified its 5-year project toprovide electricity to rural areas by using off-gridsolutions including solar and wind energy.Khant Zaw, director general at the Department ofRural Development (DRD), said US$90 millionwould be used for implementation of off-gridprojects which would run from 2016 to 2021.Upon completion, the project aims to implementsolar home system in 8,400 villages and mini-gridprojects in 350 villages that are situated over 10miles away from the national grid.“Nearly 100,000 households will benefit from theproject that can also provide electricity to 16,000public buildings and 40,000 streetlights. We willcontinue our efforts until we reach the nationwideelectrification target by 2030,” said the official.He said more than 80,000 households in 1,300villages wouldhave access to electricity by solarhome system and mini-grid projects would beimplemented in 34 villages in 2017-18 fiscal year.He seems satisfied with the success of the firstproject year when 97 per cent of the proposedworks have been completed.

During 2016-2017 fiscal year, the project hasconnected solar home systems for 140,000households in 2,708 villages. Additionally, mini-grid projects were implemented in 10 villages toexpand electricity access in remote areas.According to the official, solar home system hasbeen installed by people’s contribution. For themini-grid system, the DRD contributed 60 percent while community and private investorscontributed 20 percent each of the total cost.Public facilities were fullyprovided with thecompliments of the DRD.World Bank (WB) statistics show more than 70percent of Myanmar’s population have no accessto electricity. In this respect, the organisation hasbeen working closely with the government toexpand the national grid and implement off-gridprojects. The Ministry of Energy and Electricitytakes care for on-grid projects while theDRD isresponsible for off-grid solutions.

Source: Eleven Myanmarhttp://www.elevenmyanmar.com/business/12944

NewspapersEleven Myanmar

29 Dec 2017

PwC | December 2017 15

Branch Transformation Strategy for Myanmar’s Fastest Growing Banks

“It's going to mean that bank branches are ascommon as a Blockbuster video store in a fewyears’ time,” former Barclays CEO Antony Jenkinstold CNBC, predicting about mass closure ofphysical banks. Two years earlier, Jenkins hadalso predicted that banks might close half of theirbranches and cut half of their workforce in 10years. The trend, he said, is happening faster thanhe or anyone else in the Fintech industry mighthave guessed.Thanks to digital leapfrogging, here in Myanmarwe have the opportunity to go straight to the eraof iflix and Youtube, bypassing the good old timesof video rentals or DVD-by-mail. But what it alsomeans is that at the same time, we’re at theforefront of a new paradigm in digital technology.Apply that to the retail banking industry andyou’ll realise how banks now face the imperativetask of transforming the way they interact withtheir customers, in order to remain relevant andprofitable.In fact, according to a 2016 study by Accenture,there are three key roles that branches must playin order to attract and retain future customers:

digital ambassador, adviser hub for specialisedservices and problem solver.While everyone knows that it’s time to movetowards a hyper-connected world, many of us arestill figuring out the right way to get there. Toooften, investments in one channel are madewithout consideration of, and often to thedetriment of, other channels.That is why banks need to think beyond channels,to understand the great necessity to enable aseamless, connected commerce experience. Theway we see it, there are two major gaps that retailbankers need to prioritise: proper sourcing,analysing and activating on the data available tothem about their consumers and their networks;as well as stitching together the individualchannels within their network to build anecosystem that enables none other than seamless,connected commerce.

Source: Mizzima Newshttp://www.mizzima.com/business-opinion/branch-transformation-strategy-myanmar%E2%80%99s-fastest-growing-banks

NewspapersMizzima News

30 Dec 2017

PwC | December 2017

2. Weekly Investment News

16

PwC | December 2017

Weekly Key Investment NewsHeadlines

Myanmar’s Garment Sector Could be Vastly Improved in Three Years

Myanmar Native Land to Build Resort at Mount Zwekabin

Yangon-Mandalay Railway to Receive $1 Billion Upgrade

17

Ten developments that shaped the economy in 2017

Foreign investment exceeds $5 bn

PwC | December 2017 18

Myanmar’s Garment Sector Could be Vastly Improved in Three Years

A consortium of government organization, laborgroups and academia has launched a three-yearproject in Myanmar with the purpose ofimproving the work environment in the country’sgarment sector, including job creation, moresustainable and efficient productivity and greatercommunity relations.The project will take place in 12 factoriessupplying Western brands, including Danishfashion retailer Bestseller, according to theDanish Ethical Trading Initiative (DETI), which iscoordinating the project in collaboration with theBritish Ethical Trading Initiative, Danish tradeunion 3F, and Aalborg University in Denmark,with the backing of the Danish MarketDevelopment Partnerships Fund.DETI said the project, which will run to the end of2020, supports the democratic transformation inMyanmar, including a long-term effort to increasecompetitiveness and strengthen respect forhuman and labor rights in the country’s textileand garment sector.While Myanmar’s move to democracy after yearsof military rule resulted in the country holding its

first nationwide election late last year, won in alandslide by Suu Kyi, problems persist as it seeksto lure foreign economic investment.Hundreds of thousands of Rohingya, consideredone of the most persecuted minorities in theworld, have fled from Myanmar’s Rakhine state toBangladesh since August. The government ofMyanmar, a predominately Buddhist country,claims the Rohingya people are illegal immigrantsfrom neighboring Bangladesh and has deniedthem citizenship, leaving them stateless. TheRohingya—who have their own language andculture—say they are descendants of Muslimtraders who have lived in the region forgenerations.In November 2016, the U.S. re-designated thecountry, formerly known as Burma, as eligible forthe General System of Preference program.

Source: Consult Myanmarhttps://consult-myanmar.com/2017/12/22/myanmars-garment-sector-could-be-vastly-improved-in-three-years/

NewspapersConsult Myanmar

23 Dec 2017

PwC | December 2017 19

Myanmar Native Land to Build Resort at Mount Zwekabin

Myanmar Native Land Public Company willdevelop a construction project which consists of30 bungalows and a shopping center at LumbiniGarden which is at the base of Mount Zwekabin,Kayin State.The project which includes parking lots for bothbig and small vehicles, and a swimming pool willbe developed when the cable car project startedfour years ago is finished. The project will beimplemented on the land of six acres with $12 to$15 million capital investment.‘‘We will implement our second project at thebase of Mount Zwegabin. As the cable car projectis expected to finish at the end of next year, wewill discuss again for the project,’’ U Ba Nyar Zaw,President of Myanmar Native Land Public Com-pany, said.The company will also build 40 internationalstandard restrooms on the top of the mount andthe waste water will be recycled using technologythat will not harm the environment.The company has gained the permit for de-veloping cable cars from Lumbini Garden to thetop of Mount Zwegabin which stands at 2,700 feet

above sea level.

Source: Myanmar Business Todayhttps://www.mmbiztoday.com/articles/myanmar-native-land-build-resort-mount-zwekabin

NewspapersMyanmar Business Today

26 Dec 2017

PwC | December 2017 20

Yangon-Mandalay Railway to Receive $1 Billion Upgrade

A five-year project to upgrade and renovate theYangon- Mandalay railway will be started andcompleted using a $1 billion long-term loanprovided by the Japanese Government, accordingto U Ba Myint, General Manager from MyanmarRailway.The project will begin in mid-2018 and is expectto finish by 2023. The project includes buyingnew carriages, station renovations, railroadsignals, ticket counters, and passenger loungesthroughout the railway.‘‘We’ll complete the upgrades within 5 years. Theupgrades will allow speeds of 100 km per hour, itwill streamline the flow of trade, and ac-commodate more passengers,’’ he added.The length of Yangon- Mandalay railroad is 385.5miles and currently takes 15 hours from Yangonto Mandalay.Compensation will be given to the owners of landor buildings that are within the railroad projectarea.Moreover, Yangon and Myitkyina railway is alsoplanned to be upgrade in the near future, and thatproject will also bring more passengers to the

trains, he said.Japan is providing assistances to Myanmar insectors such as agricultures, education, health,and education.

Source: Myanmar Business Todayhttps://www.mmbiztoday.com/articles/yangon-mandalay-railway-receive-1-billion-upgrade

NewspapersMyanmar Business Today

26 Dec 2017

PwC | December 2017 21

Ten developments that shaped the economy in 2017

2017 was an eventful year for Myanmar, with theeconomy charting major developments thatbrought in approved foreign direct investments(FDI) of around $4.5 billion between April andNovember, created thousands of jobs for localsand propelled larger segments of the populationinto the middle-class.These included opening up the taxi industry toforeign ride-hailing service providers, approving aslew of new hotels and mixed developmentprojects and taking steps to ease a debilitatingliquidity crunch that has stifled growth andinnovation among the local small and mediumenterprises. For the 2016-17 fiscal year,Myanmar’s Directorate of Investment andCompany Administration (DICA) expects totalapproved FDI to exceed last year’s $6.7 billiontotal. On the downside, investor confidence in thegovernment’s ability to execute important lawsand economic reforms has slipped. According tothe second Myanmar business confidence surveyconducted by Roland Berger in partnership withUnion of Myanmar Federation of Chambers ofCommerce and Industry (UMFCCI) in the latter

half of 2017, short-term business sentimentplummeted to just 49 percent between June andAugust compared to 73pc a year ago.Meanwhile, some investors may also be holdingback funds as the crisis in northern Rakhine Stateunfolds, said the World Bank.On the whole, despite inching up a notch on theWorld Bank’s Ease of Doing Business index, thecountry still remains one of the least attractivecountries regionally in which to do business. TheWorld Bank has lowered its growth projectionsfor 2016-17 to 5.9pc, below expectations andslower than growth of 7pc in 2015-16.To sum things up, here are ten economicmilestones and setbacks that shaped theMyanmar economy this year:• International ride-hailing apps make debut• Vehicle import policy changes market

dynamics• Backlash on draft bills concerning foreigners• Negotiations with Chinese stallSource: Myanmar Timeshttps://www.mmtimes.com/news/ten-developments-shaped-economy-2017.html

NewspapersMyanmar Times

29 Dec 2017

PwC | December 2017 22

Foreign investment exceeds $5 bn

Foreign investment volume reached more thanUS$5 billion (6.76 trillion kyat) as of the thirdweek of December in FY 2017-2018, reachingabove 90 per cent of the target for foreigninvestment for the year, a source from theMyanmar Investment Commission said.The Myanmar Investment Commission approved174 businesses and nearly $4.15 billion up untilthe third week of December for 2017-2018 FY.The total foreign investment volume includingincreased investment reached just under $4.78billion.Under the Special Economic Zone law, theThilawa Special Economic Zone accepted aninvestment of $237.54 million. The foreigninvestment came to nearly $5.02 billion in total,according to the MIC’s report.At its December 22 meeting, the MIC consideredapplications for foreign investments in fourbusinesses and approved two of them.The investment committee of Yangon Region hadalready approved five businesses. Moreover, 11businesses were also approved with aninvestment of nearly $279.96 million. These

businesses are expected to provide 3,125 job forlocal workers.The 11 already-approved businesses are for sevenbusinesses in the industrial sector, one in the“other” category of service sectors, one in theelectric power sector and two in livestock andfisheries, the MIC report detailed.The respective investment committees fromregions and states are approving investments inadditional types of businesses, with a combinedtarget of $6 billion.MIC is opening offices in the regions and states.

Source: Eleven Myanmarhttp://www.elevenmyanmar.com/business/12951

NewspapersEleven Myanmar

30 Dec 2017

PwC | December 2017

3. Weekly New Tenders

23

PwC | December 2017

Tenders (Myanmar Government)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/ .

24

No applicable Tenders announced for the week ending 29 December 2017

PwC | December 2017

Tenders (Multilateral organizations) List

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

25

ADB: GRANT-9184 MYA: Economic Empowerment of the Poor and Women in the East-West Economic Corridor (48322-001) Closing Date: 07 Jan 2018 (Individual)

PwC | December 2017

4. MIC Permitted Projects

26

PwC | December 2017

MIC Permitted Projects (Meeting 17, 2017)

27

No. Name of Company Type of Investment Form of Investment

1 Join Global Myanmar Co., Ltd Poultry breeder farm and hatchery Wholly Foreign Owned

2 CJ Feed Myanmar Co., Ltd Poultry breeder farm and sale of hatching eggs Wholly Foreign Owned

3 Ruby Rose Co., Ltd Hotel services Myanmar Investment

4 Mandalay Garden City Construction Co., LtdConstruction, selling, leasing and management of apartment

Myanmar Investment

5 MTG DC Co., LtdConstruction and maintenance of telecommunication towers

Myanmar Investment

6 FMIDecaux Co., Ltd

Design Fabrication, installation, maintenance and operation of street furniture items and operation of advertisement on those items in the city of Yangon

Joint Venture Investment

7 Malikha Yadanar Mining Co., Ltd Concentration and sale of lead Myanmar Investment

Source: DICA

PwC | December 2017

MIC Permitted Projects (Meeting 17, 2017) (cont’d)

28

No. Name of Company Type of Investment Form of Investment

8 Min Khit Thit Mining Co., Ltd23 MW Tachileik coal fired thermal power plant project

Myanmar Investment

9 Chipwi Nge Hydropower Co., LtdConstruction of 99 MW hydropower plant for electricity generation and power supply

Joint Venture Investment

Source: DICA

PwC | December 2017

5. Upcoming Events

29

PwC | December 2017

Upcoming Events (January 2018) List

Date Location Name of Event Sector Price Focus Points

19-21 Jan 2018 Yangon

Myanmar Agriculture Food & Beverage Trade Show

F&B Free

The event will showcase the latest in Myanmar Agriculture, Food Processing, Beverage, Procurement and Allied Sectors produce, manufacture and practice in Myanmar and abroad, making it a significant platform for business partnerships worldwide.

25-26 Jan 2018 YangonMyanmar Oil Gas & Power Summit

Energy Free

Organized by the Centre for Management Technology Pte. Ltd and the conference will cover areas like Recent PSCs Development & Upcoming Tender for Upstream Oil/Gas Blocks, Myanmar Offshore Exploration Updates, Realizing LNG Imports Potential EPC Markets, etc.

31 Jan- 2 Feb 2018

Yangon

International Congress on Geology, Resources and Geo-Hazards of Myanmar and Surrounding Regions

Geology 300USD

GEOMYANMAR 2018 is intended to expand participation from geosciences communities worldwide to open a new chapter of Collaboration among international geological institutions. In this regard, the Myanmar Geosciences Society cordially invites all of you to participate in this event.

30

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

PwC | December 2017

Upcoming Events (February 2018) List

Date Location Name of Event Sector Price Focus Points

7-8 Feb 2018 Yangon

9th Mobile Money & Agent Banking Summit 2018

Banking and Finance

TBC

Showcase your expertise and products through our customized exhibition and sponsorship packages which will reinforce your corporate branding and thought leadership position in the industry amongst finance and telecommunications regulators, investors and stakeholders who are already establishing the necessary mobile payments infrastructure in their respective countries.

22-23 Feb 2018 Yangon

International Conference on Computer Applications 2018

Technology

200 USD for Foreigner and 75,000 MMK for Local

Organized by University of Computer Studies, Yangon under Ministry of Education, Myanmar, provides a forum for the presentation of technological advances and current research results in the fields of theoretical, experimental and applied computing and technologies.

31

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

© 2017 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 Business Intelligence Publication

For further information please contact:

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

Brandon LyeDirectorbrandon.lye@sg.pwc.com

32