China expands its investment in mining sector
Play
Sichuan Henglu Industrial Company from China and Myanmar's Good Plus Star Mining Company have formed a joint-ventured company called GPS Joint Venture to refine lead in Kalaw Township, Taunggyi district, Shan State.
Following a meeting with the Myanmar Investment Commission (MIC) last Wednesday in Nay Pyi Taw, the joint-venture company has permission to start operations.
Another Chinese company, North Mining Investment Company, is also planning to invest in a Mway Taung Phar Ttaung copper mining project in Chin State. It has already submitted the proposal to the MIC, according to sources at the Ministry of Mines.
The MIC requires foreign companies in the mining industry to conduct Environmental Impact Assessment (EIA) and Social Impact Assessment (SIA) surveys, and be EIA-member countries, before they can start operations, said Win Htein, director-general of the Mining Department under the Ministry of Mines.
Foreign investment in Myanmar’s mining sector is reached more than US$2.8 billion (Bt92 billion) as of the end of November 2013, sources said.
MIC ‘awards Telenor, Ooredoo full foreign investment rights’
The Myanmar Investment Commission (MIC) has awarded the two licence
operators, Telenor and Ooredoo – telecommunication giants from Norway and Qatar – 100 percent investment rights, sources said.
The MIC gave them permission during a meeting held at Nay Pyi Taw on Wednesday. The Ministry of Communications and Information Technology handed the proposals submitted by the two companies to the MIC.
Both companies have already opened branch offices in Myanmar. Qatar-based Ooredoo announced it would invest more than US$15 billion, but Norway-based Telenor has yet to announce its investment.
Ooredoo plans to install a 3G network in rural areas in addition to large towns, while Telenor plans to construct telecommunications infrastructure across the country.
In the Middle East, Ooredoo has expanded its telecommunications network to Kuwait, Oman, Algeria, Tunisia, Israel and the Maldives in addition to Qatar. As of 2012, it has 92 million subscribers using its network across the world and earned US$9.3 billion.
The Telenor Group is one of the world's largest mobile telecommunications companies with operations in Scandinavia, Eastern Europe and Asia. It has over 161
million users worldwide.
Thipaw, a new tourist attraction in northern Shan State
Thipaw, a city located in northern Shan State, has lately become a major
attraction for foreign visitors.
Over 100 foreign visitors visit Thipaw every day, according to a hotel businessman in Thipaw. “There are more foreigners visiting this year than in previous years. Ten years ago, they were not allowed to cross Gote-htaik Bridge. Now visitor numbers are increasing,” said Moe Hnin Yu, owner of Myat Yadana Hotel.
Most foreigners visited pagodas, such as Bawkyo Mu Htaw Pagoda and Maha Myat Muni Pagoda. Also on the tourist trail are Thipaw Palace, Nant-tote waterfall in western Thipaw, and the confluence close to Chaungsone bridge – said to have been sold to a foreign company.
The city of Thipaw can also be viewed from the mountains of Koesutaung, Ngarsutaung and Thonesutaung located in the historic religious area of Theintaung.
Thipaw was built by a Shan Saw Bwarr (Shan chieftain) named Sat Khon Sai in 1888, and was ruled by Shan chieftains until 1962 when General Ne Win arrested the last Shan chieftain Sat Kyar Sai.
