ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Yangon Amata Smart and Eco City Ltd will implement Smart and Eco City project in Yangon Region

  Hong Kong-based Yangon Amata Smart and Eco City Ltd will implement a Smart and Eco City project with an investment of US$274.68 million on 2,000 acres of land near Laydaunkkan Village between East Dagon and South Dagon townships in Yangon Region, according to Myanmar Investment Commission. To implement the project, the Urban and Housing Development Department under the Ministry of Construction and Amata Corporation Public Co Ltd signed a framework agreement on August 22. During the agreement signing ceremony, Yangon Region Chief Minister Phyo Min Thein said the aim was to establish an industrial zone in the region in cooperation with Amata Company.
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  Myanmar’s border trade for 2019 fiscal year which is increased over USD $ 1 billion when compared to 2018 fiscal year

  Myanmar’s overall border trade for the 2019 Fiscal Year has increased by just over $1 billion compared to FY 2018. However, the volume of border trade at Muse, Myanmar’s largest border trade post, has dropped by $1.33 billion, according to data from the Ministry of Commerce. This setbacks is caused by fighting between the Tatmadaw — Myanmar’s army — and ethnic armed groups which flared up around August this year. The government is planning to reroute the trade goods to avoid the conflict areas and keep trade flowing. Muse is located on the northwest border it shares with China. Myanmar exported a total of $3.13 billion and imported $1.76 billion between October 1, 2018, and September 30, 2019, (FY 2019) while the country saw $4.56 billion of export and $1.67 billion of import between October 1, 2017, and September 30, 2018.
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  Ministry of Electricity and Energy (MOEE) disclosed the results of energy tender for five emergency power projects one and a half months after delay

  Myanmar’s Ministry of Energy and Electricity has finally disclosed the tender results for five emergency power projects, one and a half months after issuing the letters of acceptance and following earlier Myanmar Times reports. The government issued a tender for five projects in June to bring in plants and barges with the aim of adding 1070 megawatts of power by next summer and avoiding this year’s power cuts. The tender requirements – including the implementation deadline (210 days), heavy penalties for missing the deadline and short contractual term of five years – came under fire from industry consultants and experts. The Myanmar Times this month broke the news that Hong Kong-listed VPower Group, of which Chinese CITIC is a shareholder, has won four projects. The ministry at the time declined to confirm or comment on the news.
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  Wilmar Myanmar opened its first edible oil and flour mill at Thilawa Port terminal

  Wilmar Myanmar officially opened its first edible oil plan with a capacity of 460 metric tons per day, and flour mill with a capacity of 530 metric tons per day at the Thilawa Port terminal. Simultaneously, they held a groundbreaking ceremony for construction of the rice mill, which is expected to produce 1,200 tons of rice per day, according to the Ministry of Investment and Foreign Economic Relations. Wilmar Myanmar’s famous brand Meizan products, including edible oils, flour and sugar, are widely available in the market. Wilmar Myanmar will continue introducing quality consumer products. At the ceremony, U Han Tun, regional minister for Agriculture, Livestock and Energy; U Win Khant, permanent secretary of the Ministry of Transport and Communications; U Aung Naing Oo, permanent secretary of the Ministry of Investment and Foreign Economic Relations; and Mr Kuok Khoon Hong, CEO of Win International Limited, delivered remarks. Over 400 local and foreign guests were present at the event.
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  Marriot International Inc signed a landmark agreement with Yoma Land to bring Westin Brand to Myanmar in late 2021

  Marriott International Inc has announced the signing of a landmark agreement with Myanmar’s leading property developer, Yoma Land, to bring the Westin brand to Myanmar in late 2021, according to a statement. Under the agreement, the new-build Westin Yangon will feature 281 rooms and suites alongside 90 premium serviced apartments with spectacular views overlooking downtown Yangon and the iconic Shwedagon Pagoda. The 26-story hotel is being planned as a part of the Yoma Central integrated real estate development which has been designed by acclaimed architect Cecil Balmond OBE. Upon completion in 2021, Yoma Central expects to be anchored by the restored former headquarters of the Burma Railway Company, one of Yangon’s oldest and most cherished colonial-era buildings. Yoma Central plans to also feature two Grade A office towers and a collection of luxury private homes, all of which will be connected seamlessly by a retail podium.
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  Myanmar will offer good opportunities for investors to capitalize on the country’s new-found economic vibrancy

  State Counsellor Daw Aung San Su Kyi says Myanmar offer investors a chance to capitalise on the country’s new-found economic vibrancy. The State Counsellor said this during her official visit to Japan, where she met Japanese Prime Minister Shinzo Abe and also attended the Second Myanmar Investment Conference on October 21. “We in Myanmar believe that a quality investment, one that is responsible and sustainable, can and must play a role, and it is for this reason that I value forums such as this. We can offer participants a chance to capitalise on Myanmar’s new-found economic vibrancy. At the same time, it gives us an opportunity to highlight sectors where the right mix of reform, ambition and political will can unlock additional opportunities,’’ Daw Aung San Su Kyi said in her speech for the investment conference.
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  Yijin Cement Plant at Thilawa SEZ in Myanmar will manufacture slab cement for the first time for the Myanmar construction sector

  With an increase in Korean investments, slab cement will be manufactured for the first time in Myanmar at the Yojin cement plant. The cement manufacturing plant’s opening ceremony was held at LOTTE Hotel on Pyay Toad on Friday evening. The ceremony was attended by officials from the Ministry of Construction, ambassador of the Republic of Korea to Myanmar Mr. Lee Sang Hwa and Kim Jong Sik, Managing Director of Yojin cement plant. “The plant was built in Thilawa SEZ in 2016 with a US$ 60 million investment by Korea, and the plant started operating in 2018.
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  China Energy Engineering Group (EEC) won the fifth emergency power project tender in Myanmar

  Exclusive: A consortium led by China Energy Engineering Group (CEEC) has won the fifth emergency power project put out to tender by the Myanmar government, The Myanmar Times can reveal. A senior source involved in the energy sector told this newspaper that Beijing-based CEEC, a state-owned energy conglomerate also known as Energy China, had been awarded the bid to set up a 120-megawatt plant in Yangon’s Ahlone township, which would use gas supplied by the government. Another industry insider confirmed this development. Earlier this year, CEEC finished building a 119MW gas-fired power plant in Thaton township, southern Mon State.
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  Ayeyarwady Region Investment Forum held in Ngwe Saung Beach with aiming to boom regional economic development and basic infrastructures in Ayeyawady Region

  HINTHADA- Ayeyarwady Region Investment Forum jointly organized by Shwe Myanmar House.com and Ayeyawady Region Government Committee is being held at the Ngwe Saung Beach starting from October 24th. It is two-day forum being attended by local and foreign entrepreneurs. “In our country, there are a lot of needs. There has been infrastructure. So, we would like to offer the investments in agriculture, industrial, electricity and tourism sectors,” said Win Htay, Electricity, Energy, Industry and Transports minister from the Ayeyawady Region Government Committee. Hla Moe Aung, Ayeyawady Region Chief Minister delivered a speech at the ceremony saying that the Ayeyawady Region Government Committee and Ayeyarwady Region Investment Committee are now offering local and foreign investors aiming to boom regional economic development and basic infrastructures in Ayeyawady Region. We are going to allow local and foreign investments in accordance with the Myanmar Investment Law. Especially, agriculture, livestock and breeding sectors will be given first priority. We are going to suggest to the foreign investors that they would cooperate with local entrepreneurs in the regional economic development tasks.
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  Myanmar Japan Thilawa Development Ltd planned to add 200 hectares in its economic zone

  Myanmar Japan Thilawa Development Ltd. said it plans to add 200 hectares, to its economic zone. The Thilawa Special Economic Zone (SEZ) is considered the most successful economic zone in Myanmar, and the additional real estate will be added to the south of the existing Thilawa Special Economic Zone. “We are planning to add an addition 200 hectors just south of the existing zones. To do so, we are trying to complete the construction process of Zone B,” said Mr. Tomoyasu SHIMIZU, President of the company. Zone A covers an area of 405 hectares, and the company said they have already sold 99 percent of the lots there. Zone B takes up about 262 hectors in total, and the developer said that 50 percent of the lots are sold.