AEC Feed

AS THE Myanmar government plans to triple the country’s export volume, the agricultural sector along with small- and medium-sized enterprises will be encouraged, Commerce Minister Than Myint said during a meeting with Mark Garnier, a British MP, on July 27.
The minister invited technology and investment from the UK.
Myanmar’s agricultural sector has faced challenges, and foreign investment has not entered significantly over the past five years, according to the Myanmar Rice Federation.
Than Myint said during a meeting with businessmen in April that Myanmar’s exports must be expanded in both quantity and quality, and capital goods that can support further economic development must be imported.
Trade must be connected with the international market through the regional one, he added. – Eleven Myanmar

BBL named ‘Best Foreign Bank in Indonesia’ again

Bangkok Bank (BBL) was named by Infobank magazine, a leading Indonesian trade publication, as “Best Foreign Bank in Indonesia” for the second year in a row.

Executive vice president Chaiyarit Anuchitworawong said Bangkok Bank scored the highest at 86.74.
The bank’s Jakarta branch has also been recognised by Infobank for outstanding performance by a foreign bank branch for the fifth straight year.
Bangkok Bank opened its first Indonesian branch in Jakarta in 1968, its second in Surabaya in 2012 and its third in Medan in 2013.
The Indonesian operations are managed by Chalit Tayjasanant, general manager of the Jakarta branch.
Last year, the bank counted assets over 15 trillion rupiah (Bt40 billion).
With great stability, good understanding and strong relationships with local networks in both the government and private sectors, the bank can fully support its customers, whether Indonesians, Thais living in Indonesia or foreign investors keen to use the upcoming Asean Economic Community as a springboard to expand to Indonesia and enhance their foreign business networks, he said. – The Nation

Deal signed for $6 bn Saigon Peninsula project

Van Thinh Phat Group Corporation, one of the leading real estate and hospitality companies in Vietnam, on Wednesday signed an agreement with two giant Malaysian companies to develop a US$6 billion (Bt210 billion) ecological urban system called Saigon Peninsula Project in HCM City’s District 7.
The two partners are Pavilion Group, a world-class property developer, and Genting Group, Malaysia’s leading corporation and one of Asia’s best managed multinationals.
Saigon Peninsula will feature a multifunctional park, international cruise terminal port, office towers, resort villas, apartment blocks, hotel and other functional areas and facilities.
Saigon Peninsula Group Corporation will make the $6 billion project a cluster of unique, world-class architectural works and a green lung blending into an ideal ecological space at the confluence of the Saigon and Nha Be rivers. – Viet Nam News

Malaysian firm appointed Brunei distributor for P&G

An East Malaysian distribution company was recently appointed the distributor for multinational consumer goods company Procter and Gamble for Sarawak and Brunei.
Kim Teck Cheong (KTC) Consolidated, an East Malaysian distribution company, is P&G’s appointed distributor for the Brunei market, acting through local food company Ben Foods (B), according to KTC’s press statement. The distributorship for Sarawak was given to the group’s subsidiary KTC Borneo with effect on October 1.
“The appointment by P&G is as a result of our good working relationship, our proven commitment and performance from our Sabah and Labuan distribution.
“I believe that the appointment reflects P&G’s confidence in KTC, with our recent expansion into Sarawak and Brunei,” said Dexter Lau, executive director of KTC.
“We believe that the additional distribution rights will further cement our growth in East Malaysia and provide us with a non-replicable competitive edge within our industry. – The Brunei Times