Weekly Business News from Myanmar

Myanmar Private Equity & Venture Capital Association was officially launched in Nay Pyi Taw with the aim to meet every month for training or networking purposes
Private equity firms have come together to form the Myanmar Private Equity & Venture Capital Association to give institutional investors a voice when engaging with the local authorities, industry website internationalinvestment.net reported. Backed by the UK's CDC Group, the association was officially launched in Naypyidaw and aims to meet every month for training or networking purposes. The association currently has 11 full members including Anthem Asia, an independent private equity firm and Yangon Capital Partners, a venture capital firm set up by Trust Venture Partners.
In collaboration with the World Bank, Ministry of Agriculture, Livestock and Irrigation (MOALI) held the 6th Annual MSR of National Community-Driven Development Project in Nay Pyi Taw
The Ministry of Agriculture, Livestock and Irrigation organized the 6th Annual Union-Level Review (MSR) for Myanmar National Community-Driven Development Project (MNCDDP), implemented by the Department of Rural Development, Ministry of Agriculture, Livestock and Irrigation in collaboration with the World Bank. Union Minister Dr Aung Thu made an opening remark at the event held at M Gallery Hotel in Nay Pyi Taw yesterday morning. The Union Minister said the development of living standard and socioeconomics of people is related with the development of the country, while the MNCDDP is one of the opportunities for this development.
Myanmar coffee producers tried to effort more improvement in the production levels and establishment the new export markets for local produce
US and Myanmar partners celebrated achievements in Myanmar’s coffee and other agriculture sectors in Yangon Tuesday at an event marking the end of the US Agency for International Development (USAID) Value Chains for Rural Development project, under which USAID invested $27 million from 2014-2019. Over the past five years, US-funded agriculture programs have helped some 40,000 farmers improve production levels and establish new export markets for local produce, US Ambassador Scot Marciel said. Moving forward, strong producer and exporter associations such as Myanmar Coffee Association, Myanmar Fruit, Flower and Vegetable Producers and Exporters Association and the Sesame Farmer Development Association will carry on the work of helping farmers sustain production levels and penetrate new markets.
Myanmar earned over USD $ 691 million from rice and broken rice export within 11 months of 2018 – 2019 fiscal year
Myanmar earned over US$691 million from 2.29 million tons of rice and broken rice export within 11 months of 2018-19 FY and about 73 per cent of total rice export is exported through maritime trade, according to Myanmar Rice Federation (MRF). Myanmar exported 1.792 million tons of rice to 65 countries and earned US$559.894 million. It also exported 498,000 tons of broken rice to 41 countries and earned US$132.139 million. Myanmar earned US$187.174 million from rice and broken rice export through border trade routes. It earned US$503.859 million from rice and broken rice export through maritime trade routes.Myanmar exported 738,500 tons of rice and 38,000 tons of broken rice to China and neighbouring countries. It is 33.88 per cent of total rice and broken rice export.
The value of stocks traded on the Yangon Stock Exchange (YSX) reached the highest stock trades in September 2019
The value of stocks traded on the Yangon Stock Exchange (YSX) hit a peak of K2.47 billion this year in September with 421,358 shares traded on the exchange, according to the monthly report of the YSX. At present, shares of five listed companies — First Myanmar Investment (FMI), Myanmar Thilawa SEZ Holdings (MTSH), Myanmar Citizens Bank (MCB), First Private Bank (FPB), and TMH Telecom Public Co Ltd — are being traded on the stock exchange. In January, 89,576 shares worth K526 million were traded on the exchange, and the trade value slid to K409 million and K396 million in February and March, as share prices fell. In April, 102,682 shares worth K506 million were traded on the YSX. Starting from May, the value of shares traded crossed K1 billion. It touched a new peak of K1.4 billion with 275,325 shares traded in May, K1.32 billion with 233,994 shares traded in June, K1.22 billion with 256,241 shares traded in July, and K1.9 billion with 322,176 shares traded in August.
Directorate of Investment and Company Administration (DICA) and Myanmar Center for Responsible Business (MCRB) launched new guidebook outlines proper workplace decorum in Myanmar
The Directorate of Investment and Company Administration (DICA) and Myanmar Center for Responsible Business (MCRB) have launched a new guidebook titled, Respecting Myanmar Culture in the Workplace. The guide aims to help foreigners adapt to an Asian workplace. Understand Myanmar culture will help foreigners avoid misunderstandings in the workplace and in local communities. “Responsible investment is respectful investment. Workplaces which are respectful and inclusive are invariably more productive, and with lower turnover of the workforce,” said U Thaung Tun, Union Minister of the Ministry of Investment and Foreign Economic Relations. The guidebook is also beneficial for foreign investors to help them be familiar with Myanmar’s laws concerning the workplace, labour, health and safety, and environmental protection. It also highlights the importance of listening to and learning from local people to help prevent conflicts and contribute to commercial success.
Myanmar meat industry needs to modernize to counter the spread of African swine fever (ASF) to bring the higher production and exports
Myanmar needs to modernise its meat industry to counter the spread of African swine fever (ASF), insiders who attended conferences organised last week by the International Finance Corporation (IFC) agreed. Besides addressing the imminent threat ASF posed to the country, the modernisation of the sector can further bring about higher production and exports, which would also benefit meat and poultry farmers and the economy overall. The ASF virus was first detected in Myanmar two months ago in the country’s northern Shan state. The highly contagious virus, with a mortality rate of over 90 percent, has caused loss of million dollars across Asia in countries like China, South Korea, Thailand, Laos and Cambodia. Supplying more than 85pc of Myanmar’s animal protein consumption, the pork and poultry industry represents a substantial portion of the economy. The government and relevant stakeholders have crafted out a Myanmar Pork Industry Emergency Plan with an aim to reduce losses and quickly rebuild the industry.
Japan topped in the list of foreign investors in the Special Economic Zones (SEZs) under the Special Economic Zone Law in the 2018 – 2019 fiscal year
Foreign investments of US$362.28 million flowed into the Special Economic Zones (SEZs), under the Special Economic Zone Law, in the 2018-2019 fiscal year, according to figures released by the Directorate of Investment and Company Administration, state media reported. A total of 106 enterprises from 18 countries and four local businesses have ploughed in $1.84 billion so far in the zones, data on FDI of existing enterprises shows. Japan topped the list of foreign investors in the previous fiscal, accounting for more than 36 per cent of the overall investment, followed by Singapore and Thailand.
The two South Korean banks are seeking the approval for the opening Myanmar branches to offer banking services in Myanmar
Two South Korean banks involved separately in a low-income housing project and a joint industrial complex construction project in Yangon are hopeful of winning Myanmar government approval to offer banking services in the country soon. If they are granted licenses, KB Kookmin Bank, one of South Korea’s largest banks, and Industrial Bank of Korea (IBK) will be the second and third South Korean banks to operate in the country after Shinhan Bank, which was approved in 2016. Currently, both KB Kookmin and IBK have offices in the country but have yet to win approval to open bank branches. Officials from the banks told The Korea Times on Thursday that they are looking to enter the Myanmar banking market.
Thilawa Special Economic Zone sets to become a vital link in the East West Economic Corridor linking in Myanmar to promote investment and trade among five countries via countrywide transportation networks
The Thilawa Special Economic Zone near Yangon is set to become a vital link in the East West Economic Corridor linking Myanmar, Thailand, Laos, Cambodia and Vietnam says an official from the Japan International Cooperation Agency (JICA). The East West Economic Corridor development project aims to link transportation and logistics networks to promote investment and trade between the five countries via countrywide transportation networks. “Bridges and roads are being constructed for the east-to-west projects, and the trade flows are expected to become smoother once this is done. Besides this, industrial zones will appear along the road,” said JICA Chief Representative to Myanmar Masayuki Karasawa.