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Myanmar Business News in Brief

US proposes signing investment protection pact

The United States has proposed signing an investment protection pact with Myanmar, local media reported citing Secretary Aung Naing Oo of the Myanmar Investment Commission. Arrangements had been underway to sign investment protection pacts with the US and some western countries, he said. “A large amount of foreign direct investment will flow into the country after inking these agreements,” he said.

Myanmar Railways invites tenders for commercial towers

The state-owned Myanmar Railways (MR) has invited tenders from local, international and joint-venture firms to build communication and commercial towers on land leased near more than 900 stations along over 6,000km of railroads that belong to it. Interested bidders have to send their tenders to the MR office in Yangon by August 5.

Over 90pc of medicine graduates unemployed in past decade

Only 7,080 out of over 78,000 medical graduates in the past 10 years could be absorbed into employment, Deputy Health Minister Than Aung said in Parliament in response to a query by a lawmaker. He said there were 2,506 vacancies for doctors in the country at present and 1,164 doctors would be appointed in 2014.

Myanmar invites foreign firms for alliances in energy sector

The Energy Ministry has invited Letters of Expression of Interest (LEOI) for joint ventures or alliances from companies to operate four drilling rigs owned by the government, and other exploration-related activities, both onshore and offshore, including consultancy services. Interested parties have to submit their letters to the Nay Pyi Taw-based energy ministry by June 30.

Anti-China mood prevailing in Myanmar, warns Chinese media

An anti-China mood is prevailing in Myanmar which till recently was regarded as one of the closest ally of the communist nation and Beijing should be on guard against an anti-China wave there, a Chinese state-run daily warned. “Special vigilance should be maintained about the fact that anti-China sentiment is spreading fast in Myanmar society,” an article in the Global Times said.

Colgate-Palmolive to invest in Myanmar

Colgate-Palmolive, a US-based manufacturer of utilities and healthcare products, recently registered with the Myanmar Investment Commission (MIC) to invest in the country’s manufacturing sector, local media reported referring to MIC sources, but gave no further details about the proposal.

MEP invites transmission line and substation tender

The Department of Hydropower under the Ministry of Electric Power (MEP) has invited contractors or joint ventures to submit tender proposals to build its 132kV transmission line and substation. Tender documents and more information are available until June 26 at Office No.27, Tender Invitation Committee, Department of Hydropower Implementation, Ministry of Electric Power, Nay Pyi Taw. The tender has to be quoted in US dollars and application submission deadline is 12pm, July 24. More information can be obtained by phone at +95067413531, +9509250345349, +9509450539248.

Trades resume on Myanmar-Bangladesh border

Bilateral trades on Myanmar-Bangladesh border have resumed after a few days break following armed clashes between the border-guard forces of the two countries, local media reported, referring to some border sources.

Imphal-Mandalay first flight on June 27

The first chartered flight linking India’s northeast with Myanmar’s second largest city Mandalay will start on June 27, Indian media reported. Local private carrier Golden Myanmar Airlines and India’s KB Enterprise inked a deal to start a chartered flight between Imphal and Mandalay on June 3. The agreement aims to pave the way for regular flights. The aircraft to be used for the chartered flight is an ATR-72 and can seat 69 passengers.

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