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PwC Myanmar Weekly Business IntelligenceIssue No. 212

10 May 2020

10 May 2020

PwC

Disclaimer

2PwC Myanmar Weekly Business Intelligence

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Upcoming Events MIC Permitted ProjectsTender OpportunitiesPolicy and Regulation InfrastructureFinancial and Business

10 May 2020

PwC

Highlights

• “The Ministry of Immigration and Human Resources has released a list of businesses deemed

essential that are prioritized for reopening including fishery product factories, cargo transportation

businesses, wholesale food warehouses and trading companies.”

• “China’s ambassador to Myanmar pushed on Wednesday to gear up for the implementation of

Beijing’s key infrastructure projects in Myanmar despite the fact that both countries’ economies are

facing a significant slowdown due to the effects of the COVID-19 pandemic…the two discussed

how to move forward on the development of China’s ambitious projects in Myanmar based on the

Myanmar government’s COVID-19 Economic Relief Plan (CERP).”

• “The European Commission has added Myanmar to its list of states that pose high risks to the

bloc’s financial system today (May 7) because of anti-money laundering and terrorism financing

deficiencies.”

PwC Myanmar Weekly Business Intelligence

3

Infrastructure

Transport

• Yangon Elevated Expressway project delayed for two months

• Construction of Chin State airports make progress despite COVID-19

• Keep on trucking: transport sector remains on the move despite COVID-19

Energy

• Kyunchaung gas power plant project to be completed soon

• Nationwide power production declines

Real Estate

• Yangon investment market down but not out - Colliers

• Myanmar manufacturing, construction sectors take beating

Waste and Water

▪ Over K5 bln worth riverbank project to be implemented in Mandalay

▪ Water shortages in upper Myanmar

Other Infra

• China Pushes BRI Projects As Myanmar Rolls Out COVID-19 Economic Relief Plan

• Govt eases internet blackout in Rakhine

Infrastructure

• Myanmar Govt Lists Essential Businesses Prioritized for Reopening Amid COVID-19

• BOCHK granted preliminary approval to set up Yangon Branch in Myanmar

• Myanmar economy unlikely to recover this year: MIFER

• Myanmar govt extends temporary suspension of microfinance operations to May 15

• Onepay becomes first lifestyle mobile app to support interbank services in Myanmar

Financial and Business

• Myanmar opts for limited stimulus to counter pandemic

• EU puts Myanmar on money-laundering blacklist

• Myanmar negotiates for funds to rescue embattled economy

• Myanmar Factories Face ‘Irreversible’ Harm If Shutdown Extended

• COVID-19 Response ‘a Chance to Reimagine Myanmar’s Future’

Policy and Regulation

InfrastructurePolicy and

Regulation

Tender

Opportunities

MIC

Permitted

Projects

Upcoming

Events

Financial and

BusinessIssue - 212, 10 May 2020

http://www.pwc.com/sg/en/

10 May 2020


4

10 May 2020

PwC 5PwC Myanmar Weekly Business Intelligence


Myanmar Govt Lists Essential Businesses Prioritized for Reopening Amid COVID-19

MANDALAY – The Ministry of Immigration and

Human Resources has released a list of

businesses deemed essential that are prioritized

for reopening including fishery product factories,

cargo transportation businesses, wholesale food

warehouses and trading companies.

The ministry on Sunday informed state and

regional authorities that businesses such as

state-owned factories, water distribution plants,

electricity plants, clinics and hospitals, wholesale

food warehouses and fishery product factories

are considered essential to the public and should

be allowed to resume operating.

On April 12, most factories across the country

halted operations for the Thingyan New Year

holidays. On April 19, the Ministry of Labor

ordered factories to remain closed until April 30

and not to reopen until the Ministry of Health and

Sports deemed it safe to do so in line with its

COVID-19 preventive measures.

The Ministry of Immigration and Human

Resource’s list of essential businesses includes

commodity transportation companies, ports,

trading companies, municipal offices, banks and

finance firms, job recruitment agencies, printing

and distribution companies, information and

telecommunications-related businesses, and

hotels, motels and guesthouses. It also includes

construction and mining companies.

Apart from factories, many businesses have also

closed their offices since the Thingyan holidays

as the government ordered citizens to stay home

and banned mass gatherings to prevent the

spread of the coronavirus. The stay-home period

was from April 10 to 19.

On April 20, some companies resumed business,

but many are still closed due to the government

restrictions, while some are waiting for local

authorities to conduct inspections of their

COVID-19 preventive measures.

According to the Ministry of Immigration and

Human Resource’s instructions, prioritized

businesses must produce an inspection report

before resuming operations. It did not state

exactly when the businesses would be allowed to

resume, however.

In Mandalay Region, about 350 out of more than

8,100 factories that produce food products are

being inspected and are due to resume

operations in mid-May.

Source: The Irrawaddy

https://www.irrawaddy.com/news/burma/myanma

r-govt-lists-essential-businesses-prioritized-

reopening-amid-covid-19.html

04 May 2020

Myanmar aviation sector expected to become profitable, but more pain ahead first

Myanmar’s aviation industry is betting on a more

profitable future with the number of airlines now

reduced to half compared to 2017 and demand

for domestic air travel expected to catch up with

supply. However, they will have to swallow more

losses in the short term before things get better.

There are currently five airlines in Myanmar,

down from ten three years ago. But even though

there are fewer players now in the market, the

volume of passengers flying domestic remains

below three million, according to government

data.

At those levels, demand is not sufficient to cover

the industry’s losses, U Kyaw Nyein, CEO of

Golden Myanmar Airlines (GMA), told The

Myanmar Times in a recent interview.

But profitability is possible in the years ahead,

making it a good time for the remaining airlines to

accelerate their plans for expansion to capitalise

on future demand, according to a 2019 report by

the Centre for Asia Pacific Aviation.

Last year, GMA took delivery of a new aircraft,

taking its current fleet of ATR-72s to three. “With

the additional seats, we can now fly daily

compared to alternate days before. We will also

extend our destinations to include more flights to

Dawei and Kaw Thaung, which could be potential

tourist attractions in the future,” U Kyaw Nyein.

Air KBZ has also been expanding. Last year, it

upgraded its fleet of planes and announced new

destinations to Dawei , Kaw Thaung , Myeik,

Sittwe, Kyaingtong, Hkamti and Loikaw. its sister

airline, Myanmar Airways International, added a

new Airbus A319 to its fleet, expanding its

capacity by 144 passengers.

Tanes Kumar, commercial director for Air KBZ,

said even though the new routes are not yet

profitable, the main aim of adding new

destinations is to expand the airline’s network

and connectivity. “This gives passengers more

options and allows employees to learn new skills

for more expansion in the future,” he said.

Source: Myanmar Timeshttps://www.mmtimes.com/news/myanmar-aviation-sector-expected-become-profitable-more-pain-ahead-first.html

27 Jan 2020


https://www.irrawaddy.com/news/burma/myanmar-govt-lists-essential-businesses-prioritized-reopening-amid-covid-19.html

https://www.mmtimes.com/news/myanmar-aviation-sector-expected-become-profitable-more-pain-ahead-first.html

10 May 2020



Myanmar economy unlikely to recover this year: MIFER

Despite a huge increase in approved foreign

investments from US$1.9 billion to $3.3 billion

during the period between October 2019 and

March 2020, the actual inflow of foreign direct

investments (FDI) are lower.

At $500 million, the inflow of investment in the

first quarter of the year fell short of last year’s

$800 million, said U Aung Naing Oo, permanent

secretary of the Ministry of Investment and

Foreign Economic Relations (MIFER).

“My concern is that although more investment

was approved, the actual inflow of FDI will be a

challenge for us,” he said during an AustCham

Myanmar webinar last Wednesday.

“Almost all businesses in the country are

suffering as a result of the coronavirus,” U Aung

Naing Oo added. He is also a member of the

Working Committee to Address the Possible

Impacts of COVID-19 on the Country’s Economy,

chaired by the investment minister U Thaung

Tun.

Based on the ministry's observations and

discussions with businesses, it is unlikely that the

Myanmar economy will see a recovery by the

end of the year, said U Aung Naing Oo.

“Currently, the impact has been more on garment

businesses and the hotel and tourism sector, but

this will be seen in other sectors in a few weeks

to come,” he added.

Recognising the overall economic disruption on

every sector of Myanmar’s economy, the

government last week unveiled the COVID-19

Economic Relief Plan (CERP), comprising 72

actions under seven goals.

Under the CERP, the government provided for

the expansion of a K100 billion ($72 million) fund

to K200 billion - K500 billion before the end of the

year. The finance ministry first announced the

emergency fund in March to help garment and

tourism businesses as well as SMEs at an

interest rate of 1 percent. It was put together by

reallocating up to 10pc of the budgets from each

ministry.

Out of approximately 3800 applications for the

fund, 200 for loans amounting to $10 billion have

been approved, according to U Aung Naing Oo.

Other significant measures in the CERP include

waivers on Specific Goods Tax, customs duties

and commercial taxes for critical medical

supplies related to COVID-19 prevention.

Source: Myanmar Times

https://www.mmtimes.com/news/myanmar-

economy-unlikely-recover-year-mifer.html

04 May 2020

BOCHK granted preliminary approval to set up Yangon Branch in Myanmar

Bank of China (Hong Kong) Limited (“BOCHK”)

is pleased to announce that it has been granted

the preliminary approval by the Central Bank of

Myanmar to set up Yangon Branch in the

country.

Adhering to its strategic goal of “Building a Top-

class, Full-service and Internationalised Regional

Bank”, BOCHK is actively pushing forward its

regional development and expanding its

business in the Southeast Asian region. Its

branches and subsidiaries have been extended

to Thailand, Malaysia, Vietnam, the Philippines,

Indonesia, Cambodia, Laos and Brunei.

Following the opening of Yangon Branch, the

operating entities of BOC Group will then cover

all ASEAN countries, signifying a new milestone

in our regional development. BOCHK spares no

effort to prepare for the opening of Yangon

Branch so as to commence operation as soon as

possible. We will continue to enhance our

regional financial service capabilities and strive

to give new impetus to the development of

financial market in Myanmar.

About Bank of China (Hong Kong) Limited

Bank of China (Hong Kong) Limited (“BOCHK”)

is a leading commercial banking group in Hong

Kong with strong market positions in all major

businesses. We have the most extensive local

branch network and diverse service platforms in

Hong Kong, including more than 190 branches,

280 automated banking centres, efficient e-

channels of over 1,000 self-service machines, as

well as Internet and Mobile Banking services. We

offer a comprehensive range of financial,

investment and wealth management services to

personal, corporate and institutional customers.

To implement the overseas development

strategy of BOC Group, we strive to drive our

regional development by expanding our business

in the Southeast Asian region. Our branches and

subsidiaries have been extended to Southeast

Asian countries such as Thailand, Malaysia,

Vietnam, the Philippines, Indonesia, Cambodia,

Laos and Brunei, with the provision of

professional and high-quality financial services to

local customers. We will also expedite our

development into a top-class, full-service and

internationalised regional bank.


https://www.mmtimes.com/news/bochk-granted-

preliminary-approval-set-yangon-branch-

myanmar.html

08 May 2020


https://www.mmtimes.com/news/myanmar-economy-unlikely-recover-year-mifer.html

https://www.mmtimes.com/news/bochk-granted-preliminary-approval-set-yangon-branch-myanmar.html

10 May 2020



Myanmar govt extends temporary suspension of microfinance operations to May 15

The Financial Regulatory Department under the

Ministry of Planning, Finance, and Industry has

extended Directive No (2/2020) suspending

microfinance institutions from operations until

May 15 as a precautionary COVID-19 measure.

The Financial Regulatory Department first issued

Directive No (2/2020) on April 6, under which the

process of lending and collecting of loans by

microfinance institutions would be suspended

until April 30.

The ministry said that neither principal nor

interest should be collected “with force”.

The temporary suspension of microfinance

activities aligns with government efforts to

prevent the spread of COVID-19 through mass

gatherings and close contact, said U Thant Sin,

director of the Financial Regulatory Department.

During the suspension period the Financial

Regulatory Department had found some

microfinance firms did not follow the directive on

loan repayments and forced borrowers to repay

the loans.

It warned that failure to fully comply with the

directive would result in government action,

including the revoking of licenses.

However, activities such as providing loans for

emergency and voluntary loan repayments will

be permitted during the suspension period. All

such activities must adhere to the health

guidelines from the Ministry of Health and Sports.


https://www.mmtimes.com/news/myanmar-govt-

extends-temporary-suspension-microfinance-

operations-may-15.html

04 May 2020

Onepay becomes first lifestyle mobile app to support interbank services in Myanmar

Yangon, Myanmar – May 4th, 2020 - Today,

Onepay launches the first mobile interbank

service in Myanmar with the technical and

operational support of its Official Banking

Partner, Asia Green Development Bank (AGD).

The interbank service allows Onepay users to

transfer money between Asia Green

Development Bank (AGD), Ayeyarwady Bank

(AYA), Co-operative Bank (CB) Kanbawza Bank

(KBZ), Myanma Apex Bank (MAB), United

Amara Bank (UAB) and Yoma Bank.

As the first ever interbank service in Myanmar, it

allows users to transfer money between banks

without going into a branch. At a time of a global

pandemic, this service reduces social contact

and helps users avoid the hassle of going into

branches.

Users can easily transfer money between banks

by adding funds to their Onepay wallet. This can

be done through an AGD bank account, or with

any e-commerce enabled MPU, VISA or

Mastercard. Additionally, if users do not have a

bank card or account, funds can be added by

using cash-in services through 123 service or

Onepay appointed agents throughout the

country. This would then allow the user to simply

transfer the amount from their wallet to one of the

seven selected banks.

U Aung Zeya Myo, Deputy Managing Director of

One Pay Company Limited said, “We want to

make sure that our customers are having a

simple, secure and convenient experience while

using our service. Working with our official

banking partner, AGD Bank to support interbank

services in our app is one of the attempts to

reach that goal. The interbank service does not

have any hidden costs or extra charges. Any

costs associated with the remittance charges will

be set by respective banks. The app is designed

to notify the users of the transfer rate and cost

before they confirm the transaction. Settlement

will take up to two working days after the

transaction has been made.”

U Pyi Soe Htin, Chief Business Officer of AGD

Bank said, “As the official banking partner, AGD

will manage the interbank transactions of

Onepay users. We’re proud to provide banking

service to this first mobile interbank service.

Source: Mizzima News

http://mizzima.com/article/onepay-becomes-first-

lifestyle-mobile-app-support-interbank-services-

myanmar

06 May 2020


https://www.mmtimes.com/news/myanmar-govt-extends-temporary-suspension-microfinance-operations-may-15.html

http://mizzima.com/article/onepay-becomes-first-lifestyle-mobile-app-support-interbank-services-myanmar

10 May 2020

Infrastructure

8

10 May 2020


Yangon Elevated Expressway project delayed for two months

The tender process for the Yangon Elevated

Expressway has been suspended for two months

due to COVID-19, according to the committee in

charge under the Ministry of Construction.

“The tender was originally scheduled for end of

April but we’ve postponed it to late June,” said U

Kyi Zaw Myint, deputy director general of Road

Department under the Ministry of Construction.

He added that a public meeting was held in

February involving the townships that the flyover

will pass through. “We have already incorporated

some of the people’s requests. The next meeting

will be held after the month of June, before

implementing the project. We’ll implement further

demands from the public depending on

instructions issued by the health ministry,” he

said.

The Yangon Elevated Expressway will be

implemented by the Ministry of Construction and

Yangon Region Government under a Public

Private Partnership with the winning bidder. The

expressway will pass through eight townships –

Mingalar Taung Nyunt, Tamwe, Thingangyun,

South Okkalapa, North Okkalapa, Mayangone,

Mingaladon and Insein.

Construction of the expressway is now targeted

to begin in August and put into operation by May

2025. When complete, it will be 27.5 km in

length, 8m to 19.5m in height and comprise four

lanes. The project is valued at about US$900

million.

Proposals for the project were first invited in May

2018 and 53 companies expressed interest in

building the expressway. Twelve consortium

groups submitted proposals in November 2018.

A list of ten companies that met the criteria to be

considered as prequalified bidders were

announced in December 2018. These companies

are expected to participate in the tender process

later in June. - Translated


https://www.mmtimes.com/news/yangon-

elevated-expressway-project-delayed-two-

months.html

06 May 2020













data.

































aviation-sector-expected-become-profitable-

more-pain-ahead-first.html

27 Jan 2020

Infrastructure TransportUpcoming Events MIC Permitted ProjectsTender OpportunitiesPolicy and Regulation InfrastructureFinancial and Business

https://www.mmtimes.com/news/yangon-elevated-expressway-project-delayed-two-months.html


10 May 2020


Construction of Chin State airports make progress despite COVID-19

Despite some construction delays, Chin State’s

first airport is expected to open by June.

Construction of Surbung Airport in Falam

township, Chin State, will be complete by this

month, U Soe Htet, a spokesperson for the Chin

State government.

“Work is progressing on schedule as we have

maintained 300 workers on the construction site,”

he said.

The workers are being isolated at the

construction site and have been asked not to

leave. Likewise, outsiders are not allowed to

enter the area.

Currently, the K37 million airport is around 75

percent complete with an 800 meter runway.

Meanwhile, a second airport, Lailenpi, is also

under construction at Matupi township, southern

Chin State.

It is so far around 70pc complete, according to

an official from the Chin State government.

"This is the second airport in Chin State. It is a

small airport with the capacity to handle 20-seat

aircraft," he said.

The Lailenpi airport is being constructed with

$2.2 million in foreign aid from Mission Aviation

Fellowship International based in the UK.

Lailenpi is a remote town situated at the border

between Myanmar and India. Getting to Lailenpi

from Yangon by car would take travelers three

days or more.

The airport will improve connectivity and bring

more tourists and traders.

So far, there have been six positive cases of

COVID-19 reported in Chin State, including the

very first case, a traveler who returned from the

US, on March 23. He has since recovered. -

Translated


https://www.mmtimes.com/news/construction-

chin-state-airports-make-progress-despite-covid-

19.html

05 May 2020

Infrastructure Transport

Keep on trucking: transport sector remains on the move despite COVID-19

Business is down and a reduced fleet of trucks is

supplying factories and delivering goods, but the

need to comply with curfews across Myanmar is

causing burdensome delays.

Movement restrictions imposed to prevent the

spread of COVID-19 have left many people

confined to their homes. Offices have instituted

work from home policies, while factories and

workshops were forced to close in late April

pending government inspections. Some

businesses have shuttered altogether, either

permanently or until COVID-19 prevention rules

are rolled back.

But while COVID-19 has brought parts of the

economy to a halt, the transport and logistics

sectors have to keep moving. Although demand

for transport has dropped because of the

pandemic, there are still exports to send to port

and imports to deliver to factories and

warehouses, shops around the country in need

of restocking and markets that require fresh

produce.

For truck drivers like U Kyaw Zeya, the work

continues – although it has changed a bit, in

response to prevention rules and other measures

to keep drivers safe.

“I still do the same number of trips each day,” the

Yangon-based container driver told Frontier at

about 7pm on April 24, as he settled in for a

night’s sleep in his truck on Strand Road near

Botahtaung jetty. Earlier in the day Kyaw Zeya

had been moving products such as zinc roofing

materials and refrigerators from the Botahtaung

docks on the Yangon River to an industrial zone

in East Dagon Township, on the northeastern

outskirts of the city.

“The only difference [in Yangon] is working in the

daytime [because of the nighttime curfew] and

the healthcare precautions introduced at

factories,” said Kyaw Zeya, who is in his 50s. “I

have to wear a face mask when I do deliveries.”

He said he wasn’t worried about potentially being

exposed to COVID-19 while working. “To be

honest, I’m just glad I still have a job. But I follow

all the rules and health precautions at the ports

and factories.”

Idle trucks

But many other drivers and truck owners have

seen work dry up due to the economic impacts of

COVID-19.

Source: Frontier Myanmar

https://frontiermyanmar.net/en/keep-on-trucking-

transport-sector-remains-on-the-move-despite-

covid-19

05 May 2020


https://www.mmtimes.com/news/construction-chin-state-airports-make-progress-despite-covid-19.html

https://frontiermyanmar.net/en/keep-on-trucking-transport-sector-remains-on-the-move-despite-covid-19

10 May 2020


Kyunchaung gas power plant project to be completed soon

The 20.54MW gas power plant project in

Kyunchaung is going to be finished soon.

As the current running gas turbine has been

used for many years, its capacity reduces to only

4MW, said U Myo Thiha, chief engineer of

Kyunchaung power plant.

The electricity produced by Kyunchaung gas

power plant is supplying to the national grid.

Hong Kong-listed VPower KC1 and CNTIC

Vpower YG2 companies are engaged in the

generation of electricity, supply and sale. VPower

KC1 invested US$18.155 million in the

generation of 20.54MW electricity from LNG, and

supply and sale of electricity on IPP (BOD) basis

at the Kyunchaung power plant in Magway

Region.

Furthermore, CNTIC VPower YG2 is to build

350MW LNG power plant at No. 14 plot of

Thilawa Port in Thanlyin Township, Yangon

Region, bringing in investments of $297.39

million for power generation, supply and sale,

according to the data released by the Directorate

of Investment and Company Administration.

The Ministry of Electricity and Energy is

endeavouring efforts to meet the increasing

power demand, and gas power project is one of

them.

Source: The Global New Light of Myanmar

https://www.globalnewlightofmyanmar.com/kyunc

haung-gas-power-plant-project-to-be-completed-

soon/

04 May 2020

Grab says it pumped $100M into Myanmar in four years

Ride-sharing company Grab has invested over

US$100 million (K143.5 billion) in Myanmar in

the past four years to strengthen its position on

the local taxi market, a senior company official

said Tuesday.

Cindy Toh, country manager for Grab, said the

company will continue investing to further

improve the quality of its service in Myanmar.

“Grab will emphasise service quality and safety,

not only technology,” she told a briefing. “We will

continue investing in expansion and partnerships

to better the platform and expand the

ecosystem.”

Grab launched its service in Myanmar in July

2017, and has since introduced Grab Taxi Call

service, Premium Rentals (Beat), and Grab

Food.

The company’s taxi service is popular and

experiencing an increase of 10 percent in daily

rides in 2019 from the previous year, and adding

more than 196,000 more precise location points

in the Grab application.

The number of businesses using Grab for

Business doubled in 2019, and the most popular

destinations for rides were Myanmar Plaza,

Junction City, and Yangon Airport.

Grab will expand its services to other key cities

across the country this year, Toh said. GrabFood

will be launched for local restaurants and

transportation partners in Mandalay this year.

“Although food delivery is increasing locally, it

still lags behind other countries. We have many

opportunities,” said U Myat Kaung Min, head of

GrabFood Myanmar.

Grab For Good will be launched in Myanmar

soon.

In 2018, Grab launched its Grab Thone Bane

(three-wheeler) service in Bagan and Mandalay

city, and Grab TaxiPlus service.

More than 166 million people in 339 cities in

Myanmar, Vietnam, the Philippines, Thailand,

Cambodia, Malaysia, Singapore and Indonesia

have downloaded the Grab app on their mobile

phones. – Translated





12 Feb 2020

Infrastructure EnergyUpcoming Events MIC Permitted ProjectsTender OpportunitiesPolicy and Regulation InfrastructureFinancial and Business

https://www.globalnewlightofmyanmar.com/kyunchaung-gas-power-plant-project-to-be-completed-soon/


10 May 2020


Nationwide power production declines

Yangon—Myanmar’s nationwide power

production declined by 104.7 megawatt (MW)

within one month, compared with the maximum

production of over 3,506 MW on 6 April,

according to the figures from the Ministry of

Electricity and Energy.

On 6 May, the maximum power production hit

over 3,401 MW.

On 6 May, Yangon Region’s power consumption

hit 1,345 MW, accounting for over 39 per cent of

the total production while Mandalay Region

consumed 516 MW (15 per cent), Nay Pyi Taw,

147 MW (nearly four per cent) and other regions

and states, over 1,410 MW (over 41 per cent).

The ministry achieved its goal of satisfying up to

50 per cent of nationwide power demand at the

end of 2019.

The ministry is making efforts to satisfy 75 per

cent of power demand in 2025 and 100 per cent

in 2030.

In order to satisfy the increasing power demand,

the ministry plans to generate an additional 1,166

MW soon.

Source: Eleven Myanmar

https://elevenmyanmar.com/news/nationwide-

power-production-declines

08 May 2020

Infrastructure EnergyUpcoming Events MIC Permitted ProjectsTender OpportunitiesPolicy and Regulation InfrastructureFinancial and Business

https://elevenmyanmar.com/news/nationwide-power-production-declines

10 May 2020


Yangon investment market down but not out - Colliers

Colliers Myanmar's sentiment tracker has

indicated there is still some investment activity in

Yangon, despite a sharp drop in transactions as

a result of COVID-19.

A sharp decline in Yangon property transactions

at the beginning of April does not mean the

market has succumbed completely to the effects

of COVID-19, Colliers International says.

A Yangon-based realtor told The Myanmar

Times this week that many of the properties for

sale in the city are struggling to find buyers, while

only ten per cent of properties had been leased

out.

But Colliers Senior Research Analyst Paul Ryan

Cuevas said while buyers, renters, and

developers have become more vigilant amid the

volatile conditions, investment activity had not

entirely ground to a halt.

"Some transactions have progressed despite the

difficulties of doing business, and agents

continue to report interest for some select

property assets," he said.

"As the COVID-19 crisis bites, investors and

lenders will likely continue to moderate their

appetite for Yangon real estate assets.

"Our sentiment indicator is showing that deals

are being reviewed, or are stalling as investors

reassess the situation, but those committed to

the sector are still transacting and showing

interest.

Most lenders are still 'open for business', but are

reluctant to make new commitments, citing the

still unknown impact on residential and

commercial values, which will almost certainly

curb investment activity in Q2."

Source: Mingalar

https://www.mingalarrealestateconversation.com/

news/2020/05/08/yangon-investment-market-

down-not-out-colliers/1588913042

08 May 2020






said Tuesday.








ecosystem.”




Food.

















GrabFood Myanmar.


soon.













12 Feb 2020

Infrastructure Real EstateUpcoming Events MIC Permitted ProjectsTender OpportunitiesPolicy and Regulation InfrastructureFinancial and Business

https://www.mingalarrealestateconversation.com/news/2020/05/08/yangon-investment-market-down-not-out-colliers/1588913042


10 May 2020


03 Mar 2020

Myanmar manufacturing, construction sectors take beating

The manufacturing sector recorded an

accelerated downturn in April as a result of

COVID-19, according to a survey from IHS

Markit.

The headline IHS Markit Myanmar Manufacturing

PMI (Purchasing Managers Index) plummeted to

29.0 in April from 45.3 in March, signaling a

severe decline in manufacturing business

conditions in Myanmar.

The PMI is a composite single-figure indicator of

manufacturing performance. It is derived from

indicators for new orders, output, employment,

suppliers’ delivery times and stocks of

purchases. Any figure greater than 50.0 indicates

overall improvement of the sector.

"Myanmar's manufacturing sector nosedived in

April as the global economy was rocked by the

COVID-19 pandemic. The PMI dropped like a

stone to 29.0,” according to Trevor Balchin,

Economics Director at IHS Markit.

Indicators for output, new orders and

employment, accounting for 75 percent of the

weight of the PMI, all sank to new record lows in

April.

"Regarding new work, around 80 pc of the

survey panel reported declines in April. Of the 10

pc reporting growth, manufacturers mainly linked

this to panic buying of food," Mr Balchin reported.

Around 80 pc of the survey respondents reported

lower intakes of new orders in April. A similar

proportion of firms reported lower output during

the month, as business operations were

suspended and workers returned to their home

towns.

The construction sector has also taken a beating,

with many private construction projects in

Yangon at a standstill since April, said Myanmar

Construction Entrepreneurs Association’s Central

Executive Committee Member U Kyaw Kyaw

Soe.

He said a lot of the construction work in Yangon

has not fully recommenced since Thingyan as

workers have been delayed in returning to

Yangon from their hometowns due to irregular

bus and train schedules. Meanwhile, employers

and the authorities have also been vague about

instructions to resume work amid COVID-19.

Such disruptions are expected to take their toll

on the economy for a long time to come.



manufacturing-construction-sectors-take-

beating.html

07 May 2020

Infrastructure Real EstateUpcoming Events MIC Permitted ProjectsTender OpportunitiesPolicy and Regulation InfrastructureFinancial and Business

https://www.mmtimes.com/news/myanmar-manufacturing-construction-sectors-take-beating.html

10 May 2020


Over K5 bln worth riverbank project to be implemented in Mandalay

More than K5.3 billion worth riverbank protection

project will be implemented next year. The

project will be implemented along Ayeyawady

river and Dokehtawady river in 2020-2021 fiscal

year, said U Kyaw Myint Than, the head of the

Directorate of Water Resources and

Improvement of River System in Mandalay

Region. The project will be implemented in 21

villages.

Besides, the department has targeted to allocate

K900 million for four river waterway conservation

projects. The project will be implemented after

the regional Hluttaw Affairs Committee has

permitted.

“This year, the regional government has

allocated over K5 billion for riverbank protection

project. We will choose 20 priority places. Both

Ayeyarwady and Dokehtawady rivers are on the

important list. The remaining places from other

villages are prone to floods caused by the

collapse of the riverbanks,” he added.

Although over K16 billion have to be allowed for

50 villages which have submitted permission to

implement riverbank protection projects this year,

the regional government has allocated only over

K5 billion for 21 villages.

“The riverbank protection projects must start

before the river water rises. And the projects

must be finished before July. This year, the

department will invite tender to the private

companies which will comply with the tender

rules. Then, the companies will be inspected by

the department and the third party,” he added.

In 2019-2020FY, the department is implementing

riverbank protection projects in 20 villages of

Mandalay region.

Source: The Global New Light of Myanmar

https://www.globalnewlightofmyanmar.com/over-

k5-bln-worth-riverbank-project-to-be-

implemented-in-mandalay/

07 May 2020






said Tuesday.








ecosystem.”




Food.

















GrabFood Myanmar.


soon.













12 Feb 2020

Infrastructure Waste and WaterUpcoming Events MIC Permitted ProjectsTender OpportunitiesPolicy and Regulation InfrastructureFinancial and Business

https://www.globalnewlightofmyanmar.com/over-k5-bln-worth-riverbank-project-to-be-implemented-in-mandalay/


10 May 2020


03 Mar 2020

Water shortages in upper Myanmar

Kyar Kone Te Tike is a small town in Magwe

division in central Myanmar, about 19 miles away

from the Magwe Natmauk Road. Daw Mar Oo

has lived here all of her life.

Come summertime, finding drinking water is

always a struggle.

There are three small hand-dug wells for drinking

water, and they are a mile away from Daw Mar

Oo's house. They often dry up towards the end

of the hot season.

Artesian wells donated to the village by actor

Khin Hlaing currently produce 1,200 gallons per

day. They initially produced 1,800 gallons, before

one of the pumps broke. So the whole village has

to rely on donations for its water supply.

"In summer we can't use the hand-dug wells, so

we have to rely on artesian wells. Now the pump

broke we have to find water elsewhere. We know

it's important to wash our hands to prevent

COVID-19, but we have no water to wash with,"

said the 35-year-old Daw Mar Oo.

Moreover, most of the Te Tike villages are not

officially listed as villages according to the

Ministry of Home Affairs, so they're not included

on the priority list for water supplies, locals said.

"Water troubles increase year after year. Impurity

is more serious than scarcity, as unclean water

can be deadly. So, it's important that we have

clean water," said U KhinMaung Lwin, an advisor

at the Water Resource Committee.

According to WaterAid's global report The state

of the World's Water 2020, climate change may

put millions of lives at risk of dying from poor

agricultural yields, thirst and starvation. In

Myanmar the most at risk areas are the Magwe,

Mandalay and Sagaing regions, which are

located in the country's dry zone.

According to the World Health Organization

(WHO) and the United Nations Children's

Education Fund (UNICEF), 2.1 billion people

across the world lack access to a safe and

reliable supply of water.

The Myanmar Times conducted a survey in the

villages within the Kyar Kan village tract and

Indaw villages in Magwe, which frequently face

water shortage problems every March.

"The villagers can't drink the water from the wells

dug by the Department of Rural Development, as

the water has turned salty. We use it just for

household purposes.


https://www.mmtimes.com/news/water-

shortages-upper-myanmar.html

08 May 2020

Infrastructure Waste and WaterUpcoming Events MIC Permitted ProjectsTender OpportunitiesPolicy and Regulation InfrastructureFinancial and Business

https://www.mmtimes.com/news/water-shortages-upper-myanmar.html

10 May 2020


China Pushes BRI Projects As Myanmar Rolls Out COVID-19 Economic Relief Plan

YANGON—China’s ambassador to Myanmar

pushed on Wednesday to gear up for the

implementation of Beijing’s key infrastructure

projects in Myanmar despite the fact that both

countries’ economies are facing a significant

slowdown due to the effects of the COVID-19

pandemic.

Chinese Ambassador to Myanmar Chen Hai and

Myanmar’s Deputy Minister for Planning, Finance

and Industry U Set Aung met for ‘in-depth

discussions’ Wednesday on the implementation

of outcomes from Chinese President Xi Jinping’s

visit to Myanmar in January, according to the

Chinese Embassy in Myanmar.

The Chinese Embassy said that the two

discussed how to move forward on the

development of China’s ambitious projects in

Myanmar based on the Myanmar government’s

COVID-19 Economic Relief Plan (CERP). The

projects discussed included New Yangon City,

Kyaukphyu Deep-Sea Port and Industrial Zone

and the China-Myanmar Border Economic

Cooperation Zone.

Launched last week, the CERP seeks to mitigate

the economic impact of the pandemic by

implementing new measures and response

plans. The measures include steps to expedite

the solicitation of strategic infrastructure projects

and to approve and disclose large investments

by reputable international firms that may be

currently experiencing delays, through fast-track

procedures.

The head of the China desk at the Institute for

Strategy and Policy (ISP), Daw Khin Khin Kyaw

Kyee, told The Irrawaddy that these three

projects constituted the main agenda when Xi

came to Myanmar, as they are strategically

important for China, and that it’s important to

China’s image to actually implement the

agreements from his visit.

“The CERP is considered a roadmap for the

country for both during outbreak and the post-

COVID-19 period. If the projects are added to the

CERP, they could be considered priority projects

[to implement]. That’s the reason China wants to

link their projects with the CERP,” Daw Khin Khin

Kyaw Kyee said.


https://www.irrawaddy.com/news/burma/china-

pushes-bri-projects-myanmar-rolls-covid-19-

economic-relief-plan.html

07 May 2020






said Tuesday.








ecosystem.”




Food.

















GrabFood Myanmar.


soon.













12 Feb 2020

Infrastructure Other InfraUpcoming Events MIC Permitted ProjectsTender OpportunitiesPolicy and Regulation InfrastructureFinancial and Business

https://www.irrawaddy.com/news/burma/china-pushes-bri-projects-myanmar-rolls-covid-19-economic-relief-plan.html


10 May 2020


Govt eases internet blackout in Rakhine

The government on May 3 permitted access to

the internet in Maungdaw township, Rakhine

State, after almost a year, U Zaw Zaw Tun,

secretary of Rakhine Ethnic Congress (REC)

confirmed.

“We could use the internet this morning. People

living in Buthidaung township can also receive

internet access as it is close to Maungdaw,” U

Zaw Zaw Tun said.

Internet access in Maungdaw was permitted

again after the forming of a committee by the

President Office on April 29 to investigate an

attack on a World Health Organisation vehicle,

killing the driver.

Internet access in Maungdaw, Buthidaung,

Rathaedaung, Ponnagyun, Kyauktaw, Mrauk U,

Minbya, Myebontownships in Rakhine and

Paletwa township in Chin State have been cut off

since June 2019 to prevent rebel armed groups

from getting organised online after intensified

clashes between them and the Tatmadaw

(military).

The shutdown of internet access is a concern for

the people, especially during the COVID-19

pandemic, when information is crucial. The loss

of access to social networks are a serious threat

especially in the war-torn areas.

International and local civil society groups have

been calling on the government to reopen the

internet as the virus spreads around the world.

More than one million people in Rakhine and

Chin states do not have access to information.

U Zaw Htay, a spokesman of the President

Office, said in a press conference on March 1

that the government will reopen internet access

for one township, however, for the other

townships, information is being distributed via

SMS.

The government insisted that its campaign

against COVID-19 is not hampered by the

internet shutdown, as relevant authorities can

communicate through SMS and mobile phones,

which still service these areas. They can also

reach out to the people through radio and

television.


https://www.mmtimes.com/news/govt-eases-

internet-black-out-rakhine.html

03 May 2020

Infrastructure Other InfraUpcoming Events MIC Permitted ProjectsTender OpportunitiesPolicy and Regulation InfrastructureFinancial and Business

https://www.mmtimes.com/news/govt-eases-internet-black-out-rakhine.html

10 May 2020


19

10 May 2020


Myanmar opts for limited stimulus to counter pandemic

A stimulus package cobbled together by the

government to mitigate against COVID-19

economic shocks has been largely welcomed by

businesses and investors although details were

vague. There are also doubts over the plan’s

capacity to support swathes of Myanmar’s formal

and informal economy.

The government’s 15-page document, released

April 27, listed more than 50 measures to support

the economy, including in banking,

manufacturing and e-commerce. No clear budget

was revealed, except for up to K500 billion

(US$360 million) in loans for small- and medium-

sized businesses in selected sectors - an

expansion of an existing K100 billion ($72

million) fund - and a K100 billion ($72 million)

fund for trade financing. Most measures

contained little information about how much

money will be allocated and how they will be

implemented.

While the relief plan goes some way to helping

households, offering cash transfers, food rations

and exemptions of electricity tariffs, economists

and analysts say there should still be more focus

on families struggling to put food on the table and

keep small businesses afloat.

“The stimulus plan contains practical support for

vulnerable households such as cash transfers

and electricity tariff waivers. These have the

potential to make a real difference to those

struggling to make ends meet,” said Andrew

Bauer, a public finance specialist formerly based

in Yangon.

But it is unclear how much money is allocated to

these programmes, leading to doubts over

whether they can be implemented effectively in

the near future. Mr Bauer urged the government

to clarify how much cash it will allocate to

vulnerable households and how it will implement

the cash transfer scheme.

“Unlike many low- to middle-income countries,

Myanmar has the fiscal space to be generous

with its cash transfer programme," he said.

The government has so far revealed its

measures will be funded by a mixture of budget

reallocation, by cutting the 2019-20 budget to all

government entities by up to 10 percent, central

bank financing and by taking loans from

international financial institutions of between $50

million and $500 million.


https://www.mmtimes.com/news/myanmar-opts-

limited-stimulus-counter-pandemic.html

08 May 2020













data.































Source: Myanmar Timeshttps://www.mmtimes.com/news/myanmar-aviation-sector-expected-become-profitable-more-pain-ahead-first.html

27 Jan 2020

Policy and RegulationUpcoming Events MIC Permitted ProjectsTender OpportunitiesPolicy and Regulation InfrastructureFinancial and Business

https://www.mmtimes.com/news/myanmar-opts-limited-stimulus-counter-pandemic.html


10 May 2020


EU puts Myanmar on money-laundering blacklist

The European Commission has added Myanmar

to its list of states that pose high risks to the

bloc’s financial system today (May 7) because of

anti-money laundering and terrorism financing

deficiencies.

Cambodia, Barbados, Botswana, Ghana,

Jamaica, Mongolia, Nicaragua and Zimbabwe

are also included in the latest EU listing. Laos,

Bosnia-Herzegovina, Ethiopia, Guyana, Sri

Lanka and Tunisia are removed from the list.

There was no immediate statement by the

Myanmar government in response to the

blacklisting.

Banks and financial and tax firms are obliged

under EU law to subject their clients who have

dealings with countries on the list to a higher

degree of due diligence and scrutiny.

“Given the level of EU scrutiny on Myanmar

already in place, with sanctions on military

personnel and potentially more to come if peace

talks are not resumed, this move by Brussels will

increase operational, financial and reputational

risks for financial services firms established in

Myanmar,” commented Jens Presthus, senior

associate at London-based advisory firm Global

Counsel.

The move will increase the already significant

market risks for international banks who are

interested in Myanmar. No European-

headquartered banks are among the 20 foreign

banks given licences to do business in the

previously isolated market, although UK-based

Standard Chartered has a representative office in

Yangon.

“The blacklisting will add to the international

pressure on Daw Aung San Suu Kyi’s

government to clean up Myanmar’s economy

and financial system. But some of key challenges

such as illicit trade and gambling are closely

associated with border areas and are beyond the

control of the civilian government,” said financial

analyst Ko Aung Thaw Zin.

The Commission is mandated to adopt a list of

high-risk third countries presenting strategic

deficiencies in their regulations to counter money

laundering and terror financing, according to the

EU Delegation’s spokesperson in Myanmar.

It is necessary to update the list and align it with

assessments by the Paris-based Financial Action

Task Force (FATF), the spokesperson added.


https://www.mmtimes.com/news/eu-puts-

myanmar-money-laundering-blacklist.html

07 May 2020

Myanmar negotiates for funds to rescue embattled economy

The government is negotiating for foreign aid and

assistance from the World Bank, Asian

Development Bank and International Monetary

Fund (IMF) to help it implement a stimulus plan

aimed at providing relief to businesses and

industries affected by COVID-19, said U Maung

Maung Win, deputy minister of Planning, Finance

and Industry.

The COVID-19 Economic Relief Plan (CERP),

released on April 27, provides relief to the private

sector through low-interest loans of up to K500

billion and credit guarantee schemes.

The government had received confirmation from

its developments partners to support hundreds of

millions of dollars in development assistance

needed to implement the CERP, according to U

Set Aung, Deputy Minister for Ministry of

Planning, Finance and Industry on a Facebook

update last week.

So far, the World Bank has approved a US$50

million financing scheme for the Myanmar

COVID-19 Emergency Response Project as part

of global emergency support operations through

a dedicated fast-track COVID-19 facility. Also,

the World Bank announced that it is deploying up

to $160 billion in financial support over the next

15 months to help countries protect the poor and

vulnerable, support businesses, and bolster

economic recovery.

The authorities have also been considering IMF

financing options, U Kyaw Kyaw Maung,

governor of the Central Bank of Myanmar (CBM),

said during a teleconference with members of

ASEAN on April 24.

He said there is a possibility that the Myanmar

economy could slip into recession as

consequence of the pandemic and that

restrictions on financial policies have been eased

to alleviate the impact, including a 3 percent cut

in bank interest rates to 5pc.

To mitigate against a longer term slowdown, U

Kyaw Kyaw Maung said the CBM is preparing

applications for the IMF's Rapid Credit Facility

and Rapid Financing Instrument and that the

country hopes to receive a positive outcome from

the IMF.



negotiates-funds-rescue-embattled-

economy.html

07 May 2020

Policy and RegulationUpcoming Events MIC Permitted ProjectsTender OpportunitiesPolicy and Regulation InfrastructureFinancial and Business

https://www.mmtimes.com/news/eu-puts-myanmar-money-laundering-blacklist.html

https://www.mmtimes.com/news/myanmar-negotiates-funds-rescue-embattled-economy.html

10 May 2020


Myanmar Factories Face ‘Irreversible’ Harm If Shutdown Extended

The majority of Myanmar’s 60,000 registered

factories face “irreversible damage” if shutdown

measures prompted by the Covid-19 pandemic

are extended beyond May 15, according to the

head of the nation’s largest manufacturing trade

group.

“Many factories in Myanmar have been

unproductive since early April and they may

collapse if they are not able to operate after May

15,” Aung Thein, president of the Myanmar

Industries Association, said in a telephone

interview Friday.

He was responding to speculation that the

government is mulling an extension to lockdown,

stay-at-home and business-closure measures.

Myanmar had 176 confirmed cases of the

coronavirus and six deaths as of Friday morning.

Myanmar’s de facto leader Aung San Suu Kyi

said at a panel later on Friday that she is

concerned about the potential for an outbreak

among laborers similar to what happened in

Singapore.

“Some factories have hundreds of workers so it

will become a very big problem if one of them

gets infected,” Suu Kyi said, adding that

Myanmar doesn’t have the resources to deal with

an outbreak similar to Singapore’s.

But the trade-group president business leaders

and other stakeholders should be consulted by

the government before anything is finalized.

“If we remain unproductive for three months, then

many factories may completely shut down and

no one can heal this economy,” Aung Thein said.

Source: Bloomberg

https://www.bloomberg.com/news/articles/2020-

05-08/myanmar-factories-face-irreversible-harm-

if-shutdown-extended

09 May 2020


COVID-19 Response ‘a Chance to Reimagine Myanmar’s Future’

It has been more than a month since Myanmar

reported its first case of COVID-19, and the

pandemic continues to rage across the globe. As

a historian, Thant Myint-U believes the world

today stands at a turning point, with the apparent

triumphs of democracy and capitalism no longer

so certain, and the global future looking murkier

than it has for decades.

“Myanmar needs to see clearly the ways in which

the world is changing and radically rethink its

future options,” he said, describing the COVID-19

crisis as an opportunity to radically reshape

Myanmar’s economy in a direction that is good

for all its people, including the poorest and most

vulnerable.

Recently, Myanmar unveiled an economic relief

plan for COVID-19 comprising seven main goals.

According to the government, the plan is

intended not only “to mitigate the effects of

COVID-19 on the economy, but also to bounce

back to strong economic growth as soon as

possible.”

In the wake of the release of the relief package,

Thant Myint-U took some questions from The

Irrawaddy on the plan’s chances of success for

helping the country’s economy make a full

recovery, and the challenges the government

faces in implementing the short-term action plans

it contains.

As well as being a historian, Thant Myint-U was

chief of policy planning at the UN’s Department

of Political Affairs from 2001-2006. During that

time he led efforts to understand emerging global

threats, including pandemics, and their links to

peace and development. His latest book, “The

Hidden History of Burma”, was published in

2019.

The Irrawaddy: What is your general assessment

of Myanmar’s COVID-19 situation so far?

Thant Myint-U: So far the health situation seems

well under control. No one can say to what extent

the virus may have spread beyond the 150 or so

confirmed cases. But there’s little sign of a

widespread outbreak. That doesn’t mean of

course that we should let down our guard. The

coming several weeks may be decisive and

there’s still very much the prospect of a far worse

situation developing in the near future. For now,

however, the principal impact on ordinary people

has been economic.


https://www.irrawaddy.com/in-

person/interview/covid-19-response-chance-

reimagine-myanmars-future.html

07 May 2020


https://www.bloomberg.com/news/articles/2020-05-08/myanmar-factories-face-irreversible-harm-if-shutdown-extended

https://www.irrawaddy.com/in-person/interview/covid-19-response-chance-reimagine-myanmars-future.html

10 May 2020

Tender Opportunities

23

10 May 2020

PwC

Tender Opportunities in Myanmar


Source: World Bank Group, Asian Development Bank, Consult Myanmar

No Organisation Title Publication Date Closing Date

1 World Bank Group Distributed Solar PV Generation Investment Framework 06-May-2020 13-May-2020

2 World Bank Group Monitoring, Evaluation, and Implementation Support of Education Programs in Myanmar 08-May-2020 25-May-2020


10 May 2020

MIC Permitted Projects

25

10 May 2020

PwC

MIC Permitted Projects – Meeting (6/2020)


Source: DICA

No Name of Company Type of Investment Form of Investment

1JMDP Limited Development and lease of residential and commercial complex area Joint venture

2Monywa Petrochemical Refining Refinery Co., Ltd. Production, distribution and sales of diesel and petrol Wholly Myanmar owned


10 May 2020

Upcoming Events

27

10 May 2020

PwC

Upcoming Events


Source: 10times.com, go-Myanmar.com

No Date Location Name of Event Sector Focus Points

1 20-21 May 2020 Yangon Myanmar Power Development Summit Power and Energy “With a population of around 60 million, Myanmar ranks the lowest in

terms of electrification rate in the ASEAN countries as less than 40% of

its populations have access to electricity. The MPDS is going to invite

around 200 senior representatives from government, power producers

and utilities, investors, banks, law firms and suppliers to discuss the latest

development of Myanmar power industry and share insights into its future

prospects in an quickly evolving global energy mix.”

2 29-30 Jun 2020 Yangon Textile & Garment Myanmar Summit Garment

(Apparel & Clothing)

“Textile & Garment Myanmar Summit 2020 aims to be the most influential

event to bridge international community and Myanmar market, by

introducing investment opportunities and engagement rules, sharing good

practices of invest-in-Myanmar and made-in-Myanmar, together with

social compliance issues and sourcing strategy discussion.”

3 02-04 Jul 2020 Yangon COMEXPO Myanmar IT and Technology “Enmach is Back in COMEXPO. COMEXPO is an International Complete

Manufacturing Exhibition. Special Focus on Tools & Fasteners (TOFAS).

COMEXPO Myanmar is July 2nd - 4th, 2020 at the Tatmadaw Hall in

Yangon, Myanmar. This event showcases products like CNC Machines,

Cold Forging Machines, Compressed Air & Vacuum Tech, Couplings &

Fasteners, Cutting Tools & Machine Tools, Industrial Robotics,

Instrumentation, Laser Cutting, Metal Forming Machine, Casting &

Forging, Power Tools, Press Brakes, Shears, Grinding Machines,

Robotics & Control Systems and more.”


10 May 2020

PwC

PwC Myanmar


PwC Myanmar helps organisations and individuals create the value they’re looking for. Our firm comprises of highly qualified local professionals with years of international experience, supported by

domain experts from PwC Singapore; a combination that brings you in-depth, on-the-ground knowledge base while tapping on PwC’s global reach and expertise. We are committed to helping organisations

adapt their commercial interests successfully, transform and develop their operations, solve their business issues, and identify as well as maximise the opportunities they seek.

With the opening of our firm in Yangon on 6 November 2012, PwC Myanmar is a member firm of the PwC Network - comprising of a network of firms (with each being a separate legal entity) in 157

countries with more than 276,000 people, who are dedicated to working together, providing quality services to clients throughout the world.

PwC Service Offerings • Business strategy

• Busy-side due diligence

• Capital projects & infrastructure advisory

• Capital raising

• Corporatisation & Privatisation

• Direct and indirect taxation services

• Governance and controls

• Forensic services

• Incorporation and corporate secretarial services

• IFRS/Financial reporting advisory

• Joint venture & strategic alliance

• IT risk and security

• Post-deal integration

• Mergers and acquisition – sell side transaction support

• Mergers and acquisitions – financial Advisor

• Market entry advisory & market studies

• Stock market listing preparation

• Project assurance

• Pre-deal re-organisation

• Valuations advisory

Transforming Yangon

the Heart of Myanmar

Myanmar Business

Guide

Doing Business in

Yangon

IFRS 16 New Leasing

Standard Tax Updates

Fitting together the

pieces of the

infrastructure puzzle

Our Thought Leadership in Myanmar


© 2020 PricewaterhouseCoopers Myanmar Co. Ltd. All rights reserved. In this document, “PwC” refers to PricewaterhouseCoopers Myanmar Co. Ltd., which is a member firm of

PricewaterhouseCoopers International Limited, each member firm of which is a separate legal entity. Please see http://www.pwc.com/structure for further details.

PwC Myanmar Weekly Business Intelligence PublicationFor further information please contact:

Jennifer Tay

Partner

Capital Projects & Infrastructure, PwC Singapore

+65 8876 9300

[email protected]

Soe Moe Aung

Manager

Deal Advisory, Capital Projects & Infrastructure, PwC Myanmar

+95 968 082 3394

[email protected]

mailto:[email protected]

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