ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Myanmar Government granted commercial tax exemption for 14 embassies in Myanmar to meet the mutual exemption agreement

  The Ministry of Commerce announced a commercial tax exemption for 14 embassies in Myanmar including Delegation of the European Union, on October 3. The ministry said it granted this exemption for embassies, representative offices and counselor offices in Myanmar in accordance with Article 29 of the Commercial Tax Law to meet the mutual exemption agreement. The government previously approved a commercial tax exemption for 33 embassies in Myanmar, and the 14 new entries on the list are in addition to those. The new embassies include: the Embassy of The Czech Republic, the Embassy of Finland, the Embassy of Poland, the Embassy of Qatar, the Embassy of the Republic of Korea, the Embassy of the Netherlands, the Embassy of New Zealand, the Embassy of Poland, the Embassy of Sweden, the Embassy of Spain, the Embassy of Turkey, and the Delegation of the European Union.
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  Kinan Corp will launch fully fledged training business for operators in Thilawa SEZ to utilize its inactive machines in the off-season

  Japanese construction machinery leasing firm Kinan Corp. will launch a full-fledged training business for operators in Myanmar to utilize its inactive machines in the off-season, The Mainichi reported. Myanmar Kinan Co., the local arm of the Japanese company will commercialize its training program formerly conducted for client construction firms and factories.
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  Myanmar and Thailand signed a MOU to promote the use of the Myanmar Kyats and Thai Bhat for trading at the border between two countries

  U Kyaw Kyaw Maung, governor of the Central Bank of Myanmar (CBM) and his Thai counterpart Veerathai Santiprabhob, have signed a memorandum of understanding (MOU) to promote the use of the Myanmar kyat and Thai baht for trading at the border, according to an October 21 statement issued by the Bank of Thailand. The governors also inked a second MOU to promote financial innovation and services for payments through collaboration between the two countries, according to the statement. The agreements were signed at the IMF-World Bank meeting in the US on October 18. However, as the MOUs were “unplanned” and took place after negotiations on both sides, further details will be ironed out later, said Daw Myint Myint Kyi, Director General of the CBM. Even though trading at the Thai-Myanmar border is mostly conducted in kyat and baht, payments through banks are conducted in US dollars, said U Hnin Oo, vice chair of the Myanmar Fisheries Federation.
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  The 3rd meeting of Central Micro, Small and Medium Enterprises Development Agency (MSME) held in Nay Pyi Taw to formulate the action plan under the collaboration of Nay Pyi Taw Council, regions and states MSME Agencies

  The central micro, small and medium enterprises development agency held its 3rd meeting at the ministry of industry in Nay Pyi Taw on Tuesday. At the meeting, chairman of central micro, small and medium enterprises development agency, deputy minister for commerce U Aung Htoo said that MSME Agency is conducting the coordination meetings and organizing workshops to formulate the action plan under the collaboration of Nay Pyi Taw Council, regions and states MSME Agencies. The action plan has been drawn in Nay Pyi Taw Council and 12 regions and states. The necessary preparations are being carried out to draw the action in Sagaing and Yangon Regions at the end of this year. MSME Agency has participated in the local products exhibition and competition and it’s found out that the MSME products can penetrate the international markets.
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  Myanmar Pig Breeders and Producers Association called Government authorities to halt pig imports temporarily in order to prevent swine fever and reduce illegal trading

  The Myanmar Pig Breeders and Producers Association has asked the Livestock Breeding and Veterinary Department under the Ministry of Agriculture, Livestock and Irrigation to suspend the imports of live pigs and pork products due to the outbreak of African Swine Fever (ASF) in neighboring countries. Currently, legal and illegal imports of pigs and pork products occur in border areas of the country and the association is asking the authorities to call a temporary halt on the trade to firstly curb the potential spread of ASF, and to reduce illegal trading, said U Maung Maung Lay, vice chair of the association. “We are asking the authorities to temporarily suspend transport and trading of pigs, pork products and frozen meat for a year. The outbreak of ASF is has not been widespread in Myanmar but is a problem in neigbouring countries and we are worried that there could be an outbreak of the disease here. There is no vaccine or resistance to the disease so we need to wait for the outbreak to run its course,” U Maung Maung Lay said.
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  The breakfast talk under private sector collaboration with not-for-profit organizations in sustainable development in Myanmar took place in Yangon in order to raise the awareness on it

  Breakfast Talk under private sector collaboration with not-for-profit organizations in sustainable development in Myanmar took place in Yangon on Wednesday. EuroCham Myanmar (European Chamber and Commerce in Myanmar) has launched an initiative called EuroCham Myanmar Responsible Business Initiative in June 2019. This initiative is to give European companies the opportunity to share their best practices when it comes to responsible business. This breakfast talk brought together with companies and not-for-profit organizations operating in Myanmar, the government and civil society to further discuss under the topic and to raise awareness on critical importance of working together with the not-for-profit and the private sector towards the same ambition.
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  Myanmar earned over USD $ 360 million from exporting animal products in 2018 – 2019 fiscal year

  Myanmar earned more than US$360 million from exporting animal products in 2018-2019 fiscal year exceeding over US$130 million compared to 2017-2018 FY, according to figures from the ministry of commerce. From October 1, 2018 to September 30, 2019 in the previous 2018-2019 financial year, US$366.322 million was earned from export of animal products. But, the earnings in the 2017-2018 fiscal year amounted to US$231.490 million, causing an increase of US$134.831 million. Myanmar mainly exports agricultural products, animal products, marine products, forest products, mineral products, finished industrial goods (CMP) and others.
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  The new enacted Myanmar Trademark Law and key facts to attract more foreign investments and protect system for both foreign and domestic trademark owners in Myanmar

  The 2019 Myanmar Trademark Law, which was finally enacted on January 30, 2019, is an important step in the government’s efforts to attract foreign investment. The new law establishes a framework for a comprehensive trademark registration and protection system for both foreign and domestic trademark owners. While the effective date has not yet been announced, businesses are well advised to audit their trademark portfolios in preparation for new filings because existing trademark declarations and notices will no longer be sufficient to demonstrate ownership of marks once the new law is implemented.
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  State Counsellor delivered keynote speech at the 2nd Myanmar Investment Forum 2019 in Tokyo

  The following is the Keynote Speech delivered by H.E. Daw Aung San Suu Kyi, State Counsellor, at the 2nd Myanmar Investment Forum in Tokyo on 21st October 2019. “I am delighted to be with you once again here in Japan and I would like to take this opportunity to express my sincere thanks to the Government of Japan and JETRO for organizing this important event. I see a room filled with investors and business people, policy makers and professionals who share a common goal, that is to secure investment opportunities in Myanmar and to help us build a favorable investment climate through which a prosperous, peaceful and democratic Myanmar can emerge. Please be assured your presence here today, and your presence in Myanmar, are most welcome. Please also be assured of our strong commitment to create a favorable, facilitative and friendly investment climate that will open up more investment opportunities for you. Our friends from Japan have been generous with their support to Myanmar throughout past decades and this support endures to this day, as we chart a course through a challenging period in our nation’s democratic transition.
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  The retail arm of Thai energy giant PTT Group intend to form a joint venture with KBZ Group to set up its first filling station in Myanmar by next year

  PTT Oil and Retail Business, the retail arm of Thai energy giant PTT Group, said it intends to form a joint venture with KBZ Group to set up a filling station and a reserve facility. “The first PTT station in Myanmar is slated to open before the second quarter of next year,” said Buranin Rattanasombat, vice president of PTT Oil and Retail Business, which includes gas stations, coffee shops and convenience stores. Having set up around 300 PTT stations in Cambodia, Laos and the Philippines, the Myanmar market is now the focus, Mr Rattanasombat added. With the approval from the Myanmar government, PTT and KBZ Group will build a liquefied petroleum gas (LPG) and oil reserve facility besides a filling station. The reserve facility is estimated to be completed within a year.