ASEAN Telecommunication 2020/06/09 (Vol.627)
ASEAN Telecommunication Japan-Southeast Asia Economic Exchange Magazine 2020/06/09(Vol.627)
➤Vietnamese：Japanese firms cooperate in LNG & Gas research
➤Myanmar：Myanmar-Yangon Stock Exchange bans stock trading by foreigners
➤Cambodia：Prudential opens first branch in Kratie province
■Vietnamese：Japanese firms cooperate in LNG & Gas research
The signing was carried out in the framework of Vietnam-Japan investment promotion and business connection conference, jointly held by the Ministry of Planning and Investment and the Japan External Trade Organisation (JETRO) on the occasion of Prime Minister Nguyen Xuan Phuc’s participation in the 14th G20 Summit in Japan.
The Japanese group is currently a strategic shareholder and holds 8 percent of stake in Petrolimex.
The MoU is a foundation for the two sides to work together to develop a detailed report on LNG and gas in Vietnam, serving an upcoming LNG project of Petrolimex.
In the coming time, Petrolimex will focus on building LNG import port in central Khanh Hoa province.
Previously, Petrolimex also signed an MoU with the Electricity of Vietnam (EVN) on cooperation in developing clean energy. Accordingly, Petrolimex will supply LNG to power plants built by the EVN in Khanh Hoa.
On this occasion, Petrolimex and the Japan Cooperation Centre Petroleum (JCCP) also inked an MoU, which is considered as a significant step in the bilateral cooperation that has been built up by Petrolimex and the JCCP since 2011.
The cooperation focuses on human resources development and technical and technology cooperation in the medium- and down-stream oil and gas industry, as well as in other relevant fields, to meet the demand of real development and new energy trends.
Through the MoUs, the parties will continue to strengthen sustainable strategic partnership for common development goals, contributing to bolstering the fine friendship and solidarity between Vietnam and Japan.
■Myanmar：Myanmar-Yangon Stock Exchange bans stock trading by foreigners
Myanmar will allow direct foreign ownership of shares at the Yangon Stock Exchange (YSX), a move designed to throw a lifeline to the country’s only bourse.
In a notice on Friday, the regulator, the Securities and Exchange Commission of Myanmar, said foreign individuals and locally-registered entities would be allowed to invest in listed shares of up to 35pc.
No timeline was given but Ko Aung Thaw Zin, research analyst at business information firm Frontier Myanmar Research (FMR), expects such trading to start by year end.
“It’s unclear [from the notice] whether both resident and non-resident foreigners will be permitted to trade. I understand the SECM has already prepared the follow-on regulations, which is likely to allow [only] resident foreigners,” he added.
The new Companies Law, which entered into force last August, opened the stock exchange to non-Myanmar investors. The legislation allows foreign individuals and entities to hold up to a 35pc minority stake in Myanmar companies without those firms losing the domestic registration required to be listed. But to date the authorities have not implemented this law.
The reform, when implemented, should spark interest from retail investors based in Yangon, Ko Aung Thaw Zin said. But institutional investors, including global asset and fund managers, are likely to be interested only when the YSX has significantly more listings and a broader diversity of sectors represented by its listed equities.
Securing investor confidence depends on improving corporate governance and protection of minority shareholders, market watchers say. Myanmar performs the most poorly (out of 190 countries) in protecting minority investors (185th), according to the World Bank’s 2019 Ease of Doing Business ranking.
The move should scale up the stock market and provide an additional source of financing for domestic companies, driving the development of Myanmar's financial markets and economic growth in the long term, said Sten te Vogt, an economist at Mekong Economics based in Yangon.
■Cambodia：Prudential opens first branch in Kratie province
Prudential Cambodia, one of the leading insurance firms in the Kingdom, has expanded into Kratie province.The opening recently of Prudential Cambodia’s Kratie branch means that the company already has a presence in four Cambodian provinces Prudential Cambodia also has branches in Siem Reap, Battambang, and Phnom Penh.
The ribbon-cutting ceremony was presided by Tuy Bunsereyrathmony, deputy governor of Kratie province, David Nutman, CEO of Prudential Cambodia, and In Metra, director of the Ministry of Economy and Finance’s insurance and pension department.
In his message, Mr Nutman said the opening of the Kratie branch is a testament to their commitment to making health and financial protection solutions accessible to all Cambodians.
“With the passion and dedication of our financial and life insurance consultants, we are able to reach and serve our customers better through staying close and understanding their needs,” he said.
Mr Bunsereyrathmony, for his part, thanked the insurance firm for expanding into his province. According to him, the move will help develop Kratie and create jobs for many locals.
Kratie, in Cambodia’s northeast, occupies a large, underdeveloped area that holds much promise in terms of economic and tourism development.
The United Kingdom-headquartered Prudential entered the Cambodian market in 2013. Since then, it has become one of the leading providers of life insurance in Cambodia.
In addition to its branches, Prudential Cambodia’s life insurance products are also available through Acleda bank, the company’s bancassurance partner since 2013, with 156 branches across the country. It achieved a milestone a few months ago by becoming the first life insurer in the Kingdom to issue 200,000 policies.
Prudential Cambodia said it has plans to further expand its network to cover other key cities of Cambodia soon.
発行元：グリーンサン株式会社 （Green Sun Corporation）
ベトナム本社：1F, Song Da Tower, 14B Ky Dong, Ho Chi Minh City, Vietnam
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