ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  The 30th Private Sector Development Committee (PSDC) was held in Yangon to discuss updating export, import rules and policies in Myanmar

  The Private Sector Development Committee, chaired by Vice President U Myint Swe, and businesspersons met in Yangon yesterday to discuss reforms, including bringing about changes in export and import rules and policies. The 30th regular meeting was held at the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) in Yangon yesterday morning. In his address Vice President U Myint Swe said starting from December 2016 regular meetings with business persons had been held and up to the last meeting, the 29th, 358 difficulties and issues raised by businesspersons were sent back to relevant businesses through the UMFCCI. Responses included matters that were resolved as well as 50 matters that were yet to be resolved. Of the 50, 24 were found to be permissible while 5 were found to be not in line with the policy and thus could not be permitted. The 21 remaining matters were still being looked into and will be included for resolution through the Public Private Dialogue with the 5 work committees. The Trade sector played an important role in the development of a country’s economy. As private and public sectors were cooperating towards this end it was US$ 33.53 billion in fiscal year 2017-2018 and US$ 34.98 billion in fiscal year 2018-2019. This was US$ 3.879 billion more than the planned amount. Private sector participation in this was US$ 29.309 billion or 84 percent.
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  Myanmar Investment Commission (MIC) approved eight projects, worth USD $ 279.88 million which expected to create 33,000 job opportunities

  The Myanmar Investment Commission (MIC) yesterday approved eight projects, worth US$279.88 million and over K156,930 million, which are expected to create 33,279 job opportunities. The decision was reached at a meeting (17/2019) of the MIC yesterday in Yangon. The meeting was attended by MIC chairman U Thaung Tun and 10 members. The eight projects are in the real estate, education services, agriculture, and manufacturing sectors, according to a press release issued by the MIC. Between 1988 and September-end, 2019, a total of 1,837 foreign enterprises from 50 countries have been permitted to invest in 12 sectors, with a total pledged amount of $81,874.265 million. Among them, Singapore, the People’s Republic of China, and Thailand are the leading investor countries.
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  The trade deficit for 2018 – 2019 fiscal year declined substantially due to the higher export volumes and dip in imports compared to last year

  Myanmar saw a shrinking of its trade deficit to US$1.1 billion in fiscal 2018-19, the first time in six years that exports grew faster than imports. “The trade deficit for 2018-19 declined substantially due to higher export volumes and a dip in imports compared to last year,” said U Khin Maung Lwin, assistant secretary at the Ministry of Commerce (MOC). While some question if the fall in imports is as a result of a slower economy, experts see no cause for concern yet, saying the dip is due to higher volumes of local production and stricter regulations. Meanwhile, they expect exports to rise further, driven by growth and investments. Total trade volumes for the period between October 1, 2018 and September 30, 2019 were almost $35 billion, with exports valued at $16.9 billion compared to imports of $18 billion. At $1.1 billion, the trade deficit falls short of the government’s target of $500 million.
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  AMAUT Business Networking Party 2019 was held in Yangon to enhance the opportunities for Myanmar alumni in expanding business network and improving professional career

  The Association of Myanmar Alumni from Universities in Thailand-AMAUT hosted a business networking party on Thursday in Yangon. The AMAUT Business Networking Party 2019 was held with the support of Royal Thai Embassy and Thai Business Association of Myanmar. The event was dedicated to enhance the opportunity for Myanmar alumni in expending business network and improving professional career. H.E. Mrs. Suphatra Srimaitreephithak, Ambassador of Thailand to Myanmar, joined and gave welcome speech at the event. The president of Mr.Moe Myint Kyaw remarked opening speech. Secretary in General, AMAUT, Kaung Zan said “The event is aimed to share the business opportunity for Myanmar Alumni because the Thai investors also come to the event and our alumni can connect and share the job opportunity and business communication. We are doing business matching with Thai businesspersons and engaging with both public and private Universities in Thailand.”
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  Myanmar expected more foreign direct investment in the offshore oil and gas industry to increase in 2020

  U Thaung Tun, Union Minister for Investment and Foreign Economic Relations, is expecting foreign direct investments in the offshore oil and gas industry to increase in 2020, once proposals for exploration and production are received, evaluated and approved. At the 30th regular meeting of the Private Sector Development Committee with Myanmar entrepreneurs on October 19, U Thaung Tun said he is expecting to receive “a record number of investments in oil and gas next year, especially offshore.”
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  The volume of Myanmar citizen investment reached K 19,000 billion including USD $ 10 billion in 11 economic sectors within 31 years

  Myanmar citizen investment volume reached K 19,000 billion including US$ 10 billion in 11 economic sectors of Myanmar within 31 years, with the most investment in real estate accounting for 22 %, according to the official statistics of the Department of Investment and Company Administration (DICA). Myanmar citizens injected K 19,155.226 billion of investment including US$ 10.381 billion into 1,617 businesses from 1988-1999 to September 30 of 2019. Myanmar citizens mainly invested in the areas of real estate, manufacturing, transport and communications, hotel and tourism, construction, industries, energy, livestock breeding and fisheries, mining, agriculture and others. Myanmar citizens injected K 4,308.717 billion including US$ 1.248 billion into 83 businesses in the real estate sector and the investment volume in real estate stayed at the top of the table, accounting for 22.49 %.
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  The Securities and Exchange Commission of Myanmar (SECM) allowed foreign nationals living in Myanmar to buy and sell on Yangon Stock Exchange (YSX) in the first phase of the process of opening up to the international market

  Foreigners living in Myanmar will be allowed to buy and sell on the Yangon Stock Exchange in the first phase of the process of opening up to the international market, according to the Securities and Exchange Commission of Myanmar (SECM). The Ministry of Finance and Planning announced an opening up in July but after discussing its concerns with the Central Bank of Myanmar, Internal Revenue Department and other ministries, the SECM has decided to start with foreign nationals living in Myanmar, commission member U Htay Chun told The Irrawaddy. “As we have allowed this, we had to consider the money foreigners would bring in and the profits they will take out. So we will start with foreign nationals living in Myanmar rather than all the foreigners,” U Htay Chun said. The SECM has sought the approval of the Attorney General’s Office to legalize foreign trading on the stock exchange with approval expected by around December, he added.
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  Myanmar and Japanese authorities discussed the potential for foreign investments in agriculture, livestock and land use in accord with the procedures

  Union Minister for Agriculture, Livestock and Irrigation Dr Aung Thu and a delegation led by Kazufumi Tanaka, managing director of the Japan External Trade Organization-JETRO, discussed potential for foreign investment in agriculture, livestock and land use in accord with the procedures. According to the ministry, a discussion is underway for Japanese companies to cooperate in investment and technology for Myanmar's agricultural and livestock development. The meeting focused on potentials for foreign investment in agriculture, livestock and land use in accord with the procedures.
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  Yangon Regional Investment Committee approved 181 investment proposals in 2019 fiscal year

  The Yangon Regional Investment Committee approved 160 foreign investment proposals with a value of over $260 million, and 21 local investment proposals with a total value of approximately K2.96 billion for the 2019 Fiscal Year, which ended on September 30, 2019. “Most of the foreign investments went into the garment sector and manufacturing sector. Investing in such industries creates a lot of jobs. A garment factory, for example, creates 200-1,000 jobs for local people,” said U Myint Thaung, Regional Minister for the Ministry of Planning and Finance, at a press briefing of the Yangon Regional Investment Committee.
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  The value of Myanmar’s maritime trade reached USD 24.76 billion between 1 October and 30 September in the 2018 – 2019 fiscal years which decreased when compared to the same period of last fiscal year

  The value of Myanmar’s maritime trade for the period between 1 October and 30 September in the 2018-2019 fiscal year totalled US$24.76 billion, a decline of over $1.9 billion compared with the year-ago period, state media reported. During the previous fiscal, maritime exports were valued at $9.76 billion, while imports were registered at $15 billion. Compared to the same period in the 2017-2018 fiscal, imports were lower by $1.35 billion, while exports registered a drop of $568 million.