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Myanma Railway under the Ministry of Transportation and Telecommunications is a loss-making government department, U Thant Sin Maung, Union Minister of the ministry, said at the Amyotha Hluttaw in answering the question of U Pe Tin, a law maker from Mon State’s constituency no.6.

U Pe Tin questioned the government if it has a calculated plan to make Myanma Railway generate more income, this way they can compensate the losses they have incurred.

Since Myanma Railway needs to pay back a loan of K126 billion to Paris Club member countries which was borrowed in 1988, its expenses exceed much more than its income, the union minister explained.

“2019-2020 Fiscal Year is very worrying. We need to pay back the loan borrowed before 1988. Since we cannot make anything related to the train, we must pay everything if we have money for the loan. Although Paris Club has dropped its loan to half of what we owe, there is still K126 billion left to payback. This is double the income of Myanma Railway. In addition, we have over 18,000 pensioners and we need to pay over K1 billion in pension every year. Thus, the department is already a loss-making department before it does anything else,’’ he added.

The ministry is trying to convince private investors to come and invest in the railway sector. However, since railway transportation business are very costly and need up to 30 years to see profit, it is very hard to convince investors to make investments in the railway business, the union minister groaned.

“People must have choices to choose whether they will use road transportation, railway, air or waterway. We need to create better choices for the people. In the future, the government will not operate the railway or the road transportation. We will build the environment where private investors can invest and compete with each other,’’ he added.

According to Asia Development Bank’s estimation, the transportation services that Myanma railway provide now services only 10 percent of the transportation in Myanmar, it will drop though to 2 percent if the government does not innovate or upgrade its infrastructure.

Source:https://www.mmbiztoday.com/articles/myanma-railway-loss-making-department-union-minister

White sandy beaches, sunsets that take your breath away, and emerald-green waters surrounding an endless stream of lonely islands are only a part of what makes the Myeik Archipelago a special place.

The Myeik Archipelago features 800 stunning islands in one of the most remote places in the world. I recently took a trip to the region to see for myself. Here is what we found out.

The Basics

Our six day sailing cruise started in the southernmost port town in Myanmar called Kawthaung. This is where we embarked an 85ft (25.9m) yacht called the SY Meta IV, a beautiful teak sailboat operated by Burma Boating. Here we met our fellow guests — two Austrians, and two Swedes — and the yacht’s crew of four. Our captain was from Egypt, and spoke French, English, Arabic, and even Spanish. The rest of the crew consisted of a local Myanmar guide, a Thai cook, and a Thai deckhand.

From Kawthaung we sailed north into the archipelago making stops at various islands along the way, each seemingly more beautiful than the next.

The Sights

The water surrounding the islands was a beautiful green color and clear; it makes you want to dive right in. We definitely took advantage of the good weather and went snorkeling at least once a day, each time in a completely new location. With our heads in the water we saw all kinds of fish and sea creatures including: little clownfish (Finding Nemo) dancing among their protective sea anemones, pufferfish, lionfish, moray eel, and barracuda. It was beautiful to see a large school of fish swimming in uniform all around us, with the rays of sunlight beaming though the water.

While the captain sailed the yacht from one mini paradise to another, we were able to spot flying fish, and dolphins. Our guide, Nia Nia, said: “Sometimes you can see manta rays, and even the majestic whale shark.”

We went to one island called Bat Island, where we saw large fruit bats hanging from the tops of the trees. On another we toured a large mangrove forest by kayak, located on Lanbi Kun Island.

The Experience

Why visit Myanmar’s Myeik Archipelago? Many other countries — from Southeast Asia, the Caribbean, to the Mediterranean — have countless beautiful beaches and islands. Captain Chahab said:

“I’ve been sailing for 11 years, and from what I’ve seen, sailing for days from one empty beach to the next and not seeing another tourist is unusual.”

Indeed, we didn’t see a single person outside of our own group walking or sunbathing on these white-sandy beaches. The captain explained, “Our cruise took us deeper into the archipelago than one of the day excursions from Kawthaung will.” There really was more beaches here than tourists.

As you lose yourself deeper into the island chain, you can’t help but talk about the Moken. Also known as sea gypsies, they traditionally lived a nomadic life on this sea-of-islands. We encountered one family that still does; they rowed their hand carved boat close to the yacht and were looking to trade for a pair of diving goggles.

Later on we visited one of their fishing villages on Lord Loughborough Island. They build simple traditional bamboo homes right above the clear green water.

How traditional are their ways? When visiting the school, the children were very shy to have their picture taken. When I mentioned it, the teacher explained, “The children believe that if they have their picture taken, they might die. Even we have a hard time taking their pictures.” I thought for a second and said, “Well, then let’s test that theory by taking a picture of my wife and see what happens.” After she survived the ordeal, the children were a bit less shy.

After we finished our tour of the village, the captain suggested we buy lobster from the locals for dinner. So four of the gypsy boys took Nai Nai and I to a floating lobster cage in the middle of the island’s small bay, and allowed to select dinner. There is something special about supporting the local community by buying directly from them, and having dinner that literally just came out of the ocean.

Another notable stop was an island with a fresh-water waterfall that emptied right into the sea on the beach. Many of the fishermen come here to bath in its fresh water. In fact, when we visited, a number of boats were anchored on the beach so they could fill large drums with drinking water.

These were just some of the things you might encounter during a visit to the archipelago. We visited between 6 to 8 islands, out of 800. What’s amazing is that you could go back a dozen times and get a different experience for each one. With empty beaches and a traditional way of life, it make you feel like you stepped back in time.

This is a place you go to see beautiful islands and beaches, but it’s what you don’t see that makes it outstanding: modern life and crowds.

Myanmar has many beautiful areas, but Myeik Archipelago stands out as unique. The area has been called many things: untouched, unspoiled, untamed, and the last paradise on earth. I agree with those descriptions, and I’ll add that Myeik’s Archipelago is a special place in the world.

Scion Industrial Engineering providing all king of industrial engineering spare parts in Myanmar.

Source:https://www.mmbiztoday.com/articles/myeik-archipelago-special-place-world

Today’s smartphones can now show people what apps they use most frequently, how much time they spend on them and remind them to take a break. Moreover some mobile applications can have different settings for use by adults and children and limit applications and games by age, because many children use their parents’ phones.

“Nowadays people spend more and more time on their phones. It can be up four to five hours a day for city people. People in the phone industry can even spend longer than that. This is change from even just a few years ago. Many people, both adults and the young, spend less time outdoors being active. Give a phone to a child and they can spend the whole day on it, and this can be a problem, “ said Johansson Zhang, a senior marketing manager for the Huawei Consumer Business Group.

Now smartphone companies are addressing the issue by using technology to try and add a little more balance to the lives of handphone users. They are doing this by incorporating software in phones that monitor screen time and app usage to show users exactly how much time is spent staring at their phone screens.

“The issue of excessive time spent on phones is a concern for Huawei. We want to bring about change to make phones betters but at the same time let people, especially children, lead more balanced lives. Phones are far more than toys, they are important tools and people should know if they are spending too much time on them,” added Zhang .

As technology advances and Myanmar’s communications infrastructure improves rapidly, people are using more smartphones and spending more time on digital screens consuming services and content.

“Our statistics show people in Myanmar spend a lot of time screening digital content as they are now able to conveniently access content and pay for it,” said Allen Gilstrap, CEO of Ongo, a digital payment network.

“The Myanmar government looks to be fully committed to further liberalise the market and aims to tackle the remaining obstacles progressively. By 2020, it targets to achieve that more than 90pc of the population will have telephone access, more than 85pc internet access and more than 50pc high-speed internet access,” Mr Gilstrap said.

“Nowadays, people in Myanmar are able to choose between four telecommunication operators – MPT, Telenor, Ooredoo and My Tel for services. In this digital age, digital literacy and security become more essential in daily life of people.

Digital literacy is growing in Myanmar even as people are using smartphones everywhere, to browse or watch videos or message friends. It is the national progression, people to begin more convenience digital payment for not only online purchases but in-store purchases as well,” Gilstrap added.

Amara Communication Co Ltd CEO Alan Sinfield advises that Myanmar people should work with companies to invest in security and technology.

“We want to help them convert retail outlets to online payment mechanisms. This is all part of digital ecosystem. The more people embrace using electronic payments, the better it will be for the convenience of businesses and consumers,” said Mr Sinfield.

On December 11, KBZ Bank also introduced KBZPay, a digital wallet or purse that is stored in an app on the mobile phone. Aside from being able to store money, the KBZPay app allows customers to make cashless transactions, to send and receive money, and to withdraw physical cash through authorised agents.

Companies like Ongo, Wave Money, True Money, Ok Dollar, and Reddot, are helping to move Myanmar towards digital payments with their services.

“Digital payment in Myanmar is growing rapidly among businesses and consumers. 35 million people have smartphones and this is very empowering. Consumers are smart, when they see something more convenient, they adopt it,” said Mr Gilstrap.

Scion Industrial Engineering providing all king of industrial engineering spare parts in Myanmar.

Source:https://www.mmtimes.com/news/digital-landscape-rapidly-changing.html

The banking sector is expected to make strides forward this year as fiercer competition forces banks in Myanmar to level up.

“This year, the banking environment will be much better than before. There are still many hurdles left to cross to liberalise and strengthen this sector so that it can support the economy. Nevertheless, we have seen good progress over the last two years of reform,” said U Soe Thein, vice chair of the Central Bank of Myanmar (CBM).

Following a CBM decision to level the playing field between local and foreign banks, competition for market share in the sector is expected to intensify, which is a positive development for Myanmar.

Under Notification 6/2018, issued on November 8, 2018, foreign banks are now able to lend to domestic firms in the local currency at the standard lending rate of 13 percent. However, foreign banks are free to set their own interest rates if the loans are in foreign currencies. They will also be permitted to provide the full suite of trade financing services, the CBM said.

This year, foreign banks will be free to expand across the country. There are 13 international banks from China, Japan, Singapore, India, Malaysia and Vietnam with branches in the country currently listed with the CBM, while 49 other banks have representative offices here.

The move is expected to spur local banks to becoming more competitive and eventually help support growth in the Myanmar economy as more firms gain access to funds.

It also arrives at a time when the insurance industry is opening up to foreign providers.

“For banking to develop, the insurance businesses also need to thrive. With the growth of the insurance businesses, other investors will enter the country,” said U Kyaw Ni Khin, chief business officer of Myanmar Apex Bank (MAB).

“These new conditions will enable growth and development in the banking and financial sector this year and beyond, allowing it to become more competitive and develop into a key pillar of support for the economy,” said U Kyaw Ni Khin.

Already, MAB has launched a special wealth banking and rewards programme – MAB Gold Wealth Banking – aimed at high nett worth individuals with the ability to place a minimum fixed deposit of K300 million in anticipation of tighter competition.

With foreign banks now on the scene, the next anticipated move by the CBM is interest rate liberalisation. Currently, the bank lending rate is set at 13pc, with loans approved strictly on the availability of property or land as collateral.

This year, the CBM is expected to issue new directives permitting banks to be more flexible and competitive with their lending terms.

“Currently, the banks are giving out loans to those who have collateral. We are planning allow banks to provide loans without collateral but with higher interest rates to further liberalise the sector and enable it to be more competitive and supportive of the economy,” said U Soe Thein.

Interest rate liberalisation represents an opportunity for the banks to provide more financial support to businesses and will also drive further growth and development in the banking sector, said U Hpay Myint, senior adviser at CB Bank.

“By allowing them to be more flexible in setting interest rates, local banks will be able to take on more or less risk as they deem fit. This is the right step forward for Myanmar,” he said.

Local banks are also preparing to provide financial support based on credit scores issued by Myanmar Credit Bureau Ltd.

“The credit bureau will start operating this year and if it is successfully established, the loan sector will develop quickly,” said the bureau’s chair, U Zaw Lin Aung.

Nevertheless, the sector will continue to come under stricter regulations as the CBM continues its reforms.

Among the directives released by the CBM is notification 7/2017 last November under which all local banks must convert overdraft facilities into term loans. By July 2020, the volume of overdrafts as a percentage of a bank’s loan book should be reduced to 20pc. Meanwhile, each bank’s policy on term loan management must be submitted to the CBM.

Additional disclosures, such as whether the loans are being provided to related parties or not, have also been introduced. The banks are now required to submit a list of loans of more than K5 billion or 10pc of their capital, while details of borrowers who fail to repay on time must also be submitted to the CBM.

Meanwhile, banks that operate braches without permission will be fined between K7 million and K20 million, according to a CBM directive.

So far, local banks have been complying with the stricter regulations and the sector is improving, U Soe Thein said. “The banks have been following the rules on minimum capital requirements and strengthening their loan books. This is a positive situation and the banking and financial sectors will be stronger this year,” said U Soe Thein.

Scion Industrial Engineering providing all king of industrial engineering spare parts in Myanmar.

Source:https://www.mmtimes.com/news/banking-sector-strengthen-support-economy-2019-experts.html

The oil and gas sector is looking exciting this year, with opportunities emerging from an international tender scheduled to take place early this year for the first time since 2014.

In addition to onshore and offshore blocks, the tender is expected to include work in “Improved Petroleum Recovery” blocks at older oil fields in Myanmar.

One senior official from the Ministry of Electricity and Energy (MOEE) told The Myanmar Times that the tender will be launched “as early as possible this year”.

According to the MOEE official, the ministry is now revising the terms and conditions of production sharing contracts (PSC) that will be offered to the winning bidders in the tender exercise. Once the revised terms are ready, they will be submitted to the Cabinet and the President’s Office for approval.

Myanmar is looking to open up more of its offshore, deepwater acreages to investors. Up to 18 onshore and 13 offshore blocks could be offered to both local and foreign investors within the coming months. Last year, Australian oil and gas company Woodside Energy also discovered two gas fields that offer potential.

Myanmar also has 17 PSCs that were awarded as part of the 2014 onshore and offshore bidding rounds, where drilling and seismic works must begin over the next two years, according to contract terms.

Better terms

Yet, investors are exposed to a high level of risk when undertaking exploration and production projects in the country. These have included red tape, unpredictable changes in tax rates and unfavourable PSCs, which are all barriers for potential investors. Previous contracts, for example, stipulate that production would be shared on a 65percent/35pc basis in favour of Myanma Oil and Gas Enterprise.

“Now, the conditions will be eased. It is very costly to develop deepwater blocks, so a 50-50 based PSC will do more to attract international investors,” the MOEE official said.

“Improving the existing PSC terms will be crucial for Myanmar, as Nay Pyi Taw seeks to attract more investment into the oil and gas sector while reducing the growing strain on depleting domestic oil and gas reserves,” according to a January 2 report by Fitch Solutions Macro Research.

“We need to think about both sides if we want to offer good agreements. In my opinion, I want to neither give more nor take less. It must be fair for both sides,” said U Kyaw Kyaw Hlaing, chair of local oil and gas services company Smart Group.

The MOEE is also reviewing unfavourable terms and conditions for investors in the sector. This includes an 8pc special commodity tax on natural gas production. In the past, the MOEE had granted three-year tax exemptions to oil companies once commercial production began.

Will investors come?

Industry insiders are expecting the bulk of investors to come from Asia this year.

There are many things to worry about although arrangements are being made to call tenders for oil and natural gas blocks, said U Kyaw Kyaw Hlaing. “The question remains whether prominent companies will come if we invite them. And, another question is whether western companies will come due to the Rakhine crisis,” he said, pointing out that international oil companies that signed exploration deals in Myanmar in 2014 and 2015, such as Shell, Equinor (formerly Statoil), Reliance Industries, all pulled out of the country in 2017 and 2018.

Due to the current situation, it is expected that few oil and gas giants from western countries will bid in the coming tender, while more ASEAN countries and small companies will bid instead, people in the local oil and gas sector said.

“The government may face challenges depending on whether the PSCs offered are attractive. Even so, I expect few western companies will come. We will have to take into consideration that small and less significant companies will apply, making things less beneficial for Myanmar,” said U Than Tun, adviser of oil and gas consultancy Arc and Partners Co and former director of Myanma Oil and Gas Enterprise.

As a whole though, analysts see promising prospects for the sector this year. “Myanmar is among the few still-underexplored upstream markets in Asia, and interest in developing its below-ground prospects continues to remain high among domestic and international oil and gas firms alike, despite a litany of domestic and external risks,” Fitch reported.

It noted that “the longer-term outlook for gas is relatively more optimistic, due to ongoing negotiations for the development of the MPRL-A6 and AD-1 blocks, in line with shifting regional investment trend towards natural gas , and to ease the g rowing export burden to China and Thailand.”

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source:https://www.mmtimes.com/news/investor-opportunities-rise-upcoming-tender-better-contract-terms.html

Bangladesh’s southern coastal belt offers potential for generating power through wind, according to a recently published study by the US Department of Energy’s National Renewable Energy Laboratory, raising hopes of meeting the government’s renewable energy goals.

The government has targeted to generate 2,470 megawatts of electricity by 2021 through renewable sources, 1,153MW of which was supposed to have been achieved by this year. In reality, the government is nowhere near hitting that target.

The study, carried out on behalf of the power division, found that coastal areas of Khulna, Barishal and Chattogram divisions have more than 6 metres per second (m/s) wind speed at 120-metre height, sufficient for generating electricity from wind turbines.

For wind speeds of 5.75-7.75 m/s, there are more than 20,000 square kilometres of land with a gross wind potential of more than 30,000MW, said the report styled “Assessing the Wind Energy Potential in Bangladesh”.

“Although this estimate is not realistic when proper filters are applied to screen out undesirable land for wind development, it suggests that Bangladesh’s 10 percent renewable target by 2021 is achievable,” the report said.

Until now, only three wind turbines with 3MW of capacity have been in operation for the last couple of years in Feni and coastal Kutubdia.

The wind turbine in Feni, with the blades’ centrepoint 50 metres above the ground, has so far generated 588,334 kilowatt hours of electricity since resuming operations in April 2014 after repairs.

It cannot always supply the generated electricity to the national grid for various reasons.

The wind turbines in Kutubdia island, each of 1MW capacity and with the blades’ centrepoint 18 metres above the ground, are yet to run in full capacity.

Since June 2016, 149,582kW of electricity was supplied by the wind turbines, according to Bangladesh Power Development Board (BPDB), which installed the turbines.

The latest study, jointly funded by the USAID and the government, has been done to develop a national wind resource assessment.

Data were collected from nine meteorological sites representing all geographical regions of Bangladesh from June 2014 to December 2017, according to the report.

The results of the wind resource assessment will help Bangladesh overcome the significant energy challenges, the report said citing the country’s power shortage against the backdrop of increasing demand and dwindling natural gas reserves.

Data obtained for the study will support informed decision making, ranging from policy and investment decisions to reliable power sector planning.

Specifically, the Bangladesh wind resource assessment will help reduce technical risks and raise interest of the private sector on the nascent wind market in the country, it said.

On the issue of whether wind energy can compete with the local wholesale energy market, the report said, “Although this work is an important first step, other data inputs are needed to answer this question, including turbine selection and knowledge of the unsubsidised cost of wholesale power.”

The report, among others, recommended the government analyse installation and financing costs for wind energy and compare against the current 20-year forecasts for Bangladesh’s cost of power.

This is the first ever study on wind resource potential in Bangladesh, said an official of the Sustainable and Renewable Energy Development Authority (Sreda).

“It will give an idea to policymakers and investors,” he said, adding that an investor would require collecting site specific wind and land data if he/she wants to set up wind turbines in the potential areas for wind energy.

A working committee has been formed at Sreda to frame a guideline on wind energy. Sreda also has plans to take up a project to set up three towers to collect site specific data in areas including Kuakata of Patuakhali.

A committee has been formed to conduct in-house feasibility study on the wind energy potential in Mongla and Chandpur based on the report, said Md Nazmul Haque, director of renewable energy of the BPDB.

Source:https://www.thedailystar.net/business/wind-power-plant-prospects-bangladesh-coastal-belt-1658767

Cozmo Travel, one of the largest and leading travel agencies in the United Arab Emirates (UAE), yesterday launched its services in Dhaka to hook business from the growing number of Bangladeshi travelers.

Jamal Abdulnazar, chief executive officer of Cozmo, opened the company’s footprint at Pan Pacific Sonargaon Dhaka. Saed Mohammed Al Muhairi, UAE ambassador to Bangladesh, attended as chief guest.

The Sharjah-headquartered travel management company has partnered with local RAS Holidays, an enterprise of MGH Group, to provide total travel solutions — from planning to ticketing services, hotel bookings, the UAE visit visa, global visa process and organising activities at destinations around the world and the UAE.

Speaking on the occasion, Abdulnazar said launching business in 2010, Cozmo has developed its expertise for customised travel solutions for independent and corporate travelers.

Pointing out travel and tourism potentials among the Middle East, the UAE and Bangladesh, he said 11.3 percent of the UAE GDP came from the travel and tourism sector in 2017 and it was expected to rise by 4.9 percent this year.

Cozmo, a fully-owned enterprise of low-cost airline Air Arabia, has around three dozen branch offices in different gulf countries.

Kazi Wahidul Alam, editor of The Bangladesh Monitor; Bikramjit Ghosh, country manager of Air Arabia; Santosh Bikram Rana, business development manager of Cozmo Travel, and Abdur Rahim, director and chief operating officer of RAS Holidays, were present among others.

Source:https://www.thedailystar.net/business/tourism/news/uaes-cozmo-travel-now-bangladesh-1659262

Japan automobile giant Honda yesterday inaugurated its motorcycles manufacturing plant in Bangladesh, in what can be viewed as a watershed moment for the country’s industrial capabilities.

The plant, which was set up for Tk 230 crore on 25 acres of land in the Abdul Monem Economic Zone (AMEZ) in Munshiganj, will help save foreign currency and make motor bikes more affordable.

“We will hit the market with the ‘Made-in-Bangladesh’ Honda bike,” said Shah Muhammad Ashequr Rahman, head of finance and commercial of Bangladesh Honda Private Limited (BHL), a joint venture between Honda and state-owned Bangladesh Steel Engineering Corporation (BSEC).

The plant will have an initial annual production capacity of 100,000 units a year. By 2021, the production capacity will expand to 200,000 units a year, according to BHL, which has been marketing Honda brand bikes in Bangladesh for the last several decades.

It plant will make seven models of Honda motor cycles: Dream Neo 110, LIVO 110, CB Shine125, CB Trigger 150, CB Hornet 160R, and CBR150R.

Rahman declined to specify the prices of locally made Honda two-wheelers, but said they would not be more than those of the existing bikes.

Industries Minister Amir Hossain Amu, who inaugurated the plant, said he expects Bangladesh’s customers would get world-class motor cycles at a reasonable price.

So far, Tk 1,500 crore has been invested for the development of motorcycle industry in Bangladesh.

“Hundreds of jobs were created thanks to the investment,” he said.

Honda’s move to start local manufacturing comes at a time when the motor cycle market is fast expanding, spurred by price cuts brought about by a slash in supplementary duty on the import of the two-wheeler’s components and a surge in ride-sharing services in Dhaka and Chittagong.

The National Board of Revenue slashed the SD by 25 percentage points to 20 percent in fiscal 2016-17 to encourage local assembly and subsequent manufacturing.

The government also framed the National Motorcycle Industry Development Policy 2018 with a view to diversifying the country’s manufacturing and export and creating jobs.

Today, on average 1,000 units of two-wheelers are sold every day in Bangladesh as the demand is surging for the mobility it provides in the congestion-ridden urban life. The number was around 550 five years earlier, said industry operators.

Yuichiro Ishii, managing director and chief executive officer of BHL, expects the motor cycle industry in Bangladesh to expand and contribute to the national economy by generating more jobs and developing a skilled workforce.

The plant will also facilitate technology transfer, encourage the growth of a parts supplying industry and attract more direct foreign investment, he added.

Saber Hossain Chowdhury and Mrinal Kanti Das, both lawmakers; Mosharraf Hossain Bhuiyan, chairman of the NBR; Paban Chowdhury, executive chairman of the Bangladesh Economic Zones Authority; Muhammad Abdullah, youth and sports secretary; Hiroyasu Izumi, ambassador of Japan to Bangladesh; Noriaki Abe, operating officer for motor cycle operations of Honda Motor Co Ltd; and Masayuki Igarashi, president and CEO of Asian Honda Motor Co Ltd, were present.

Source: https://www.thedailystar.net/business/economy/japan-honda-opens-motorcycle-manufacturing-plant-in-bangladesh-1659286

Kingdom Essences began with the motive to support the Nubi Menjong Nyamley Tshogdey (NMNT) in rural Trongsa comprising about 150 households by helping with income generation through value addition of local produce.

Kingdom Essences (K.Essences) are tiny bottles of natural local made-in-Bhutan essential oils. The products include caraway essential oil which is good for seasonal allergies, digestion and can be applied as an antiseptic whereas Mugwort oil is good for flu and headaches. Juniper and pine essential oil works as a good antiseptic, helps with arthritis and fights cramps and Thinnye (Sichuan Pepper) essential oil has strong anti-inflammatory benefits.

Kingdom Essences produces 100% pure and natural organic essential oils from local medicinal plants that are either purchased from the rural community members or sustainably harvested from the wild. Kingdom Essences extracts their oils from local raw materials like thinye (sichuan pepper), khempa (mugwort) to Juniper berries and leaves.

The project initially began in November 2015 when co-founder Kuenga started an organic farm in his village after graduation. During the same year, there was an unutilized community facility centre (CFC) which upon inquiry, Kuenga Dhendup was able to lease from the NMNT cooperative. Pema C. Gyaltshen, his partner, joined the business in 2016.

Kuenga Dhendup, 27, is from Kaba village in Nubi Gewog under Trongsa had graduated from Royal Thimphu College in 2014, whereas Pema C. Gyaltshen, 28, is from Tsamang; Monggar and graduated from RTC in 2016.

The journey started in August 2017, when both received His Majesty the King’s kindhearted blessing and were given the opportunity to receive training at Mae Fah Luang University in Chiangrai, Thailand.

The professors from the University’s cosmetic school taught them how to develop products using essential oils. Ever since then, the duo has been researching on local medicinal herbs and conducting experiments on developing safe and effective products suitable for the Bhutanese market.

The oils were extracted through distillation of these natural ingredients, resulting in an extremely concentrated products packed with healing benefits. Zanthoxylum Armatum (thingye or Sichuan pepper) and Caraway are locally grown and purchased directly from a rural community group NMNT.

The team collects some plants like Mugwort, Wintergreen, and Pine needles and others like Juniper and Cypress leaves. The wild raw materials are sustainably harvested by pruning the trees, which helps with the growth of the tree.

From holistic healing treatment, body massages to simple application, there are many methods of using essential oils on a daily basis considering its concentrated formula. As of now, the company is able to produce only a small number since it struggles with expensive packaging that it has to import from India and China.

Kuenga said their products are high quality/high end so it has proven to be a little expensive for the local market. “Most are not willing to take the risk of using essential oils for well being as the idea is still very new in Bhutan.”

He also added the availability of synthetic products that are affordable at very low prices compared to pure essential oils is also a reason why customers prefer to purchase the cheaper products. “We are trying to spread information on the benefits of pure essential oils to as many people as we can.”

“One must be firm in decision making, accountable for the results of his decision and be gentle to the environment as opportunities come along every day” he said.

Kuenga says that the youth especially must know that it is the Great Fourth who left the treasures of the nation to be discovered by its youth. “It is our time to find the best approach to monitor and sustainably utilize the nations’ wealth. This is how you as an entrepreneur can make all the difference. Look for ways to solve a problem instead of following the crowd.”

Currently, Caraway Essential Oil costs Nu 600(60ml) and Mugwort oil Nu 920.

Source:http://www.businessbhutan.bt/businessbhutan/bhutanese-organic-essential-oil-hits-the-market/