Weekly Business News from Myanmar

UMFCCI Centennial International Expo 2019 will be held in Yangon aiming to connect local and international entrepreneurs and penetrate into the international markets and distribute quality products in local market
Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) will hold the “UMFCCI Centennial International Expo-2019” at Fortune Plaza (Myanmar Expo) in Thakayta Township, Yangon from 20th to 22nd of this month according to the press conference on Monday. Ministry of Commerce, Ministry of Industry and Ministry of Investment and Foreign Economic Relations will support this expo. It aims to develop local products and business, penetrate into the international markets, and connect local and international entrepreneurs and to distribute quality products in local market. Vice President, UMFCCI, Dr. Maung Maung Lay said “We want to know more about UMFCCI 100th anniversary among the entrepreneurs and business organizations. UMFCCI is conducting creation for supply change and investment opportunity in our country. We are making efforts to inform the international participants for the economic investment opportunity and development. We also try to get export and import economic opportunities in the country.”
Manaung Public Company proposed the plans to implement ecotourism on Manaung Island to Rakhine State Government for approval
A local company named Manaung Public Company has presented plans to the Rakhine State Government to implement ecotourism on Manaung Island, according to the Ministry of Hotels and Tourism. The Ministry of Hotels and Tourism has laid out the master plan for the project. They first sent the plans to the Rakhine State Government for approval. Once approved they will be presented to the Rakhine State Parliament. “We have laid out and presented the master plan to the Rakhine State Government. When the state government and the parliament approve it, we will present it to the union. We cannot say when we will start and finish the project as we need to wait for the approval,” U Ye Aung More, Director of the Ministry of Hotels and Tourism (Rakhine State), told Myanmar Business Today.
PTT Group won a deal for the development of an electricity production system for New Yangon City in Myanmar
PTT Group announced today that it has won a deal for the development of an electricity production system for New Yangon City in Myanmar. Chawalit Tippawanich, president and CEO of Global Power Synergy Co Ltd (GPSC), said that the New Yangon Development Co Ltd (NYDC) of Myanmar has chosen PTT Group, comprising PTT Exploration and Production (PTTEP) and GPSC, to develop the electricity production system in New Yangon City, which borders Yangon. “For the later steps, the PTT Group will further discuss the details and talk with GAIL (India), which won the contract for sourcing natural gas for the development of the New Yangon project. PTT will require the natural gas supplied by GAIL for the development of the project,” said Chawalit.
Yangon Region Government granted the loans to 100 Small and Medium Enterprises (SMEs) aiming to bring the development of SME sector in Yangon Region
The Yangon Region government has chosen 100 small- and medium-sized enterprises from over 40,000 SMEs in Yangon Region for grant of loans, said U Myint Thaung, the Regional Minister for Planning and Finance, at a press conference held on Wednesday at the Yangon Region Investment Committee’s office. “There are over 40,000 SMEs across Yangon Region. We have shortlisted 100 SMEs which have the greatest potential to develop their businesses. Of these 100, over 40 SMEs have already received loans, while around 60 have been issued recommendation letters. Currently, we are negotiating with the concerned banks to issue them loans. The Loan Appraisal Committee has approved loans of over 60 SMEs out of the 100. We are making arrangements to provide loans to 100 more SMEs in the second phase,” said the Minister. “We are planning to provide loans to 100 more SMEs in the second phase for bringing about the development of the SME sector in Yangon Region,” said U Phyo Min Thein, the Chief Minister of Yangon Region.
UK government shifts its trade policy on Myanmar to focus on opening up specific sectors such as education, financial and professional service, infrastructure and energy where UK's companies have a foothold
Britain is signalling a shift in its trade policy on Myanmar to focus on opening up specific sectors where UK companies already have a foothold, including education, financial and professional services, infrastructure and energy. In an interview with The Myanmar Times, Warren Pain, director of international trade at the British embassy, set out how the UK is changing its approach, also in the context of its looming divorce from the European Union. Making its push for further engagement and market liberalisation, the UK has already decided to maintain Myanmar’s tariff-free access, whether or not the EU eventually decides to withdraw such trade privileges because of human rights abuses, as reported by The Myanmar Times. Addressing serious concerns raised by a UN report last month into crimes against ethnic groups committed by the military and its corporate web, Mr Pain called on UK companies to be “a bit more careful” when doing business in Myanmar but said they should continue to be active in Rakhine state “with caution”.
The trade on the Yangon Stock Exchange (YSX) continues downward trend since 2018 due to a lack of interest from the public
Trading of the five listed companies on the Yangon Stock Exchange (YSX) reached over K1.2 billion in July. A slight drop of around K1 million compared to June according to the monthly report issued by the Yangon Stock Exchange. Trading on the Yangon Stock Exchange has been decreasing since 2018, due to a lack of interest from the public. However, the exchange saw a glimmer of hope in May when it surged to over K1.4 billion. Among the five listed companies, shares of First Myanmar Investment Public Company (FMI) and Myanmar Thilawa SEZ Holding (MTSH) received the most amount of trading.
Japan International Cooperation Agency (JICA) will provide two step loans over K 105 billion to states and regions in two years from July 21, 2017 to July 2019
Over K105 billion in JICA (Japan International Cooperation Agency) two-step loans were provided as agricultural and rural development loans to various regions and states in two years from July 21, 2017 to July 2019, according to Myanma Agricultural Development Bank. Among those regions and states, Ayeyawady Region received nearly K28 billion, the largest loan. Bago Region received K24 billion, Shan State over K10 billion, Yangon Region K5.5 billion, Rakhine State over K50 million, Mon State K4.1 billion, Mandalay Region over K13.8 billion, Magway Region K2.2 billion, Taninthayi Region over K1.7 billion, Sagaing Region K9.2 billion, Kayin State over K239 million, Kayah State K2.6 billion, Kachin State K1.787 billion, and Nay Pyi Taw K2.56 billion.
The 29th regular meeting of Private Sector Development Committee with entrepreneurs was held in Yangon
The 29th Regular Meeting of Private Sector Development Committee with entrepreneurs was held at UMFCCI in Yangon on Saturday. Chairman of the Committee Vice President U Myint Swe attended the meeting and gave remarks. The Vice President pointed out that the committee has solved 353 points reported by the entrepreneurs through UMFCCI since the beginning of the regular meetings with entrepreneurs. He stressed that trade sector plays a major role for the development of country. There are 1,779 foreign enterprises and 1,605 domestic enterprises permitted till the end of July 2019. There is 18 % increase in CMD business export sector; fishery export sector reached 720 million USD till the 30th of March 2019; and 20% increase in tourism sector.
LexisNexis signed a Memorandum of Understanding (MOU) with the Yangon Regional Government to help develop property data system for Myanmar’s commercial capital
The Yangon regional government on Wednesday signed a memorandum of understanding (MOU) with LexisNexis Southeast Asia, a provider of information analytics, to help set up a reliable housing and real estate information system (HREIS) for Myanmar’s commercial capital. According to the regional government, LexisNexis will carry out the initial analysis for the HREIS, the first step in a four-part process that will also include conducting a tender process, setting up the HREIS, and maintaining the system. The HREIS will help the government lay down effective real estate tax policies, make market predictions and draw up the city’s future development plans, the regional government said. Based in the US, LexisNexis provides information analytics to law firms, corporations, governments and academic institutions globally.
Myanmar earned over USD $ 3 billion by exporting gas to Thailand and China between October 2018 and August 2019
Myanmar has earned over $3 billion by exporting gas to Thailand and China between October 2018 and August 2019, which represents the first ten months of 2019 Fiscal Year, according to the Ministry of Commerce. “This year’s total revenue exceeds that of the same period last Fiscal Year by $100 million despite the lower quantity exported. This increase in revenue is due to the higher price of gas,” said U Khin Maung Lwin, Deputy Permanent Secretary of the Ministry of Commerce. Myanmar earned over $1.5 billion from exporting gas to China, and another $1.6 billion from gas exports to Thailand. This total is $113 billion higher than the previous fiscal year.