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Zaw Win Shein (Burmese: ဇော်ဝင်းရှိန်; born 1978) is a Burmese businessperson best known for founding Ayeyar Hinthar Holdings.[1] He was born and raised in the Ayeyarwady Delta Region; Hinthada Township, which is Myanmar's main rice-producing region. At the age of 16, after his matriculation, Zaw Win Shein worked as an apprentice in his parents' agricultural products and rice export business. His father is U Thann Sein.
Zaw Win Shein embarked on his business journey at 19, borrowing a few hundred thousand dollars from his parents to establish Seven Aluminium Company [2] in 2006, addressing the scarcity of construction materials and quality aluminum fabrication in Myanmar. In 2007, he initiated Ayeyar Hinthar Trading Co., exporting high-quality rice and agricultural products, and capitalizing on government policy changes.
Ayeyar Hinthar Trading became a leading rice exporter within three years, generating $60-100 million in annual gross revenue. The government's market reforms further boosted his import business, reaching $100-150 million in annual revenue.
Today, Ayeyar Hinthar Trading is a key player in the rice and palm oil trade in Myanmar and the region, known for quality and sustainability. Zaw Win Shein's investments extend to healthcare, with Victoria Hospital [3] in 2011, promoting economic development with Pathein Industrial Project in 2012, and supporting farmers and SMEs through Ayeyarwady Farmers Development Bank [4] in 2014. With the growth of the Group's business in the various industry sectors, it was timely to undertake a restructuring exercise to consolidate them into a Holdings entity. At the end of year 2014, the holding company, Ayeyar Hinthar Holdings Co. Ltd, was incorporated.
In 2015, Zaw Win Shein partnered with Soil Build Group for the Rose Hill Condominium Project.[5] His commitment to innovation and international collaboration led to ventures like the Y-Complex [6] in 2017 and the Shweli 3 Hydropower Project [7] in 2018. In 2019, Ayeyarwaddy International Industrial Port Co. Ltd. was established to facilitate the export of agricultural products.
Zaw Win Shein's contributions earned Ayeyar Hinthar Group recognition as a top taxpayer [8] showcasing his impact on Myanmar's economic landscape since 2006.
Early life and education
Zaw Win Shein was born on 15 November 1978 in Hinthada Township, Irrawaddy Division, Burma (now Ayeyarwady Region, Myanmar),[9] which is Myanmar's main rice-producing region. At the age of 16, after his matriculation, Zaw Win Shein worked as an apprentice in his parents' agricultural products and rice export business. His father is U Thann Sein.
Ayeyar Hinthar Holdings Group
Entrepreneurial Journey
At the age of 19, Zaw Win Shein completed his first academic year in Chinese Major at the Yangon University of Foreign Languages, Myanmar. While he was studying, he borrowed a few hundred thousand dollars from his parents as seed capital to start his own business. In 2006, he founded the Seven Aluminium Company[2] to supply construction materials, aluminium fabrication, and installation works. At that time, Myanmar was short of construction materials and quality aluminium fabrication. In 2007, in order to promote his family-owned business, Zaw Win Shein formed his first company, Ayeyar Hinthar Trading Co., Ltd, exporting high-quality rice and other agricultural products abroad. Thus, helping to increase and distribute domestic products. The abolition of the quota system for Rice Export and the replacement of competitive market practices by the Government in 2007,[10] helped the growth of the export business through Ayeyar Hinthar Trading Co., Ltd. Within 3 years, Ayeyar Hinthar Trading Co., became one of the top exporters for rice generating gross revenue of approximately US$60 million to US$100 million per year.
An international trading wing was set up in 2009 to export other agricultural products such as sugar, beans, and pulses from Myanmar. In 2010, the Government transformed the Vegetable Oil Import Market into the Open Competitive Market which is the same as the abolishment of the quota system for the import of palm oil.[11] With this change, the import business grew rapidly and became one of the top 3 importers for vegetable oil within a year of the abolishment of the quota system. The import business activity alone posted the top-line figure of approximately US$ 100 million to US$ 150 million per year.
Today, Ayeyar Hinthar Trading is the main exporter and importer for rice and palm oil. It is a leading company within Myanmar as well as in the region. The "Ayeyar" brand is well-known in the market for good quality, affordability, and long-term sustainability agriculture products. Under Zaw Win Shein's leadership, he is committed to implement an all-inclusive economy. With this in mind, he has launched strategic investments in sectors that are of great importance for the rural and urban development of Myanmar.
Contributions to Healthcare
Zaw Win Shein saw the need for healthcare services in Myanmar and established the Victoria Hospital [3] in 2011, from the profit generated from the Rice Export, the Vegetable Oil Import, and the Aluminium Business. His aim is to provide high-quality healthcare services to the residents of Myanmar. Victoria Hospital is a leading private hospital in Myanmar's healthcare sector (Health in Myanmar) and is the first large private hospital to provide one-stop service for most medical treatments in accordance with international healthcare standards. His vision for healthcare services provides a tremendous boost to the business growth.
Contributions to Industrial Development
To promote rural and urban development in the Ayeyarwady Region, Zaw Win Shein developed the Pathein Industrial Project [12]
in 2012 which is in line with international standards and is the first industrial capital and international port in Myanmar. It is being constructed on a 6,700-acre site. This development has contributed to the communities in the Region in terms of creating huge employment opportunities.
Financial and Banking Sector Involvement
Zaw Win Shein saw the importance of linking the financial and banking sectors to the urban and rural economic corridor. This led to the formation of the Ayeyarwady Farmers Development Bank, known as "A Bank".[4] It was founded in 2014 with the aim of providing financing services to farmers as well as small and medium enterprises. 'A' bank started as a regional bank to finance the agriculture sector in the Ayeyarwaddy region and beyond. Today, it has become one of the top ten leading banks in Myanmar (List of banks in Myanmar).
Ayeyar Hinthar Holdings Group
With the growth of the Group's business in the various industry sectors, it was timely to undertake a restructuring exercise to consolidate them into a Holdings entity. At the end of the year 2014, the holding company, Ayeyar Hinthar Holdings Co. Ltd,[1] was incorporated.
Collaborations and Investments
Myanmar's economy boomed in 2015 in terms of the inflow of foreign investments. Zaw Win Shein partnered with the Soil Build Group - a Mainboard-listed company on the Singapore Stock Exchange, for the development of a high-end luxury residential condominium project in Yangon - Rose Hill Condominium Project.[5] Zaw Win Shein is one of the new generation of Myanmar business leaders, who is working with international partners to achieve social and economic impact through the adoption of new technologies and innovation.
In 2017, the Group launched the Y-Complex [6] which is a mixed-use development project in Yangon's prime area. This is a joint venture with Fujita Corporation,[13] Tokyo Tatemono [14] and Japan Oversea Investment Corporation [15]
(a Japanese Government entity). The following year in 2018, Zaw Win Shein partnered with the Electricite De France (EDF) Energy from France,[16] the Marubeni Corporation [17]
from Japan & the Ministry of Energy & Electricity for 671 MW Hydropower Project in Shan State - Shweli 3 project.[7]
Ayeyarwaddy International Industrial Port Co. Ltd. was established in 2019 to develop the international port at Panthein Industry Project. This is to facilitate the export of the Ayeyarwaddy region's agricultural products to international buyers. The Project Designer for this port is Surbana Jurong,[18] a Singapore company.
Awards and recognition
Zaw Win Shein's contributions to Myanmar from the year he started in 2006 helped Ayeyar Hinthar Group earn the award of the top 10 taxpayer recognition certificate. In fact, the Group has always been on the list of top 50 taxpayers.[8]
^Naing, Daw Zin Zin (2014). Trade policy reform in Myanmar(PDF). Asia-Pacific Trade Economists Conference: Trade in the Asian century-delivering on the promise of economic prosperity. Bangkok: UN-ESCAP.
