ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  The traders seek to get more regional export markets via Thailand

  Myanmar should consider exporting agriculture products such as rice, nuts, beans and nuts to Malaysia via Thailand, said Daw Thin Thin Myat, chair of Myawaddy Border Traders Association. Currently, these products are being exported only to Laos and Vietnam via Thailand. The government does not have an agreement with the Malaysian government, but one should be explored to extend the reach of Myanmar’s overland exports via Thailand, she said at the latest meeting between the government and Private Sector Development Committee.
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  Tamu Merchants Association proposed a plan to establish an economic zone in Tamu, Sagaing Region near the Myanmar-India

  Tamu Merchants Association has submitted a plan to establish an economic zone in Tamu, Sagaing Region near the Myanmar-India, said its chair Hla Maung. It was proposed at the 29th monthly regular meeting between the private sector development committee and local entrepreneurs, on August 24. “Now the Indian government is upgrading Kalewa-Yargyi-Monywa road. It is a highway for Myanmar as well as an international highway that connects Thailand-Myanmar-India. That part of the highway is being upgraded, spending millions of money as Tamu is the ASEAN’s gateway. So we propose this plan.” “Tamu is the single place that has gained the upper hand in the border trade for exports. Myanmar mainly exports betel nut and green peas. Merchants temporarily build around 40 to 50 warehouses on the State-owned land. They have to store their goods there and export them. It is not impossible in the long-term,” he added.
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  In collaboration with Korea-Myanmar Research Association (KOMYRA), UMFCCI designed the very first program of the Global Banking Expert Program to expand the global capabilities of Myanmar financial experts

  Global Banking Expert Program began on Saturday at UMFCCI in Yangon with 65 personnel from banking industry. The Global Banking Expert Program is the very first program designed by UMFCCI (Union of Myanmar Federation of Chambers of Commerce and Industry) and KOMYRA (Korea-Myanmar Research Association) to expand the global capabilities of Myanmar financial experts. KOMYRA was founded in 2013 with the purpose to expand the cooperation between Myanmar and Korea through education. It consists of professors, researchers, corporate executives and government officials. Vice President, Korea-Myanmar Research Association, Prof. Dr. Yongjun Choi said “Today’s event intends to promote the capacity building of the staff from banking industry. We, KOMYRA, signed MoU with UMFCCI last year and this program will last for four weeks. We are going to discuss and share experiences on currency, trading and banking among the attendees and experts. As human resource development is extremely important, education and training are literally needed for the country’s development.”
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  Myanmar Citizens Bank (MCB) and International Finance Corporation (IFC) signed an agreement for upgrading banking services

  The International Finance Corporation (IFC) signed an agreement to act as a consultant for Myanmar Citizens Bank (MCB) at the Yangon Stock Exchange on August 14. The move doesn't come as a surprise. The ongoing reforms to the country’s financial sector, being directed by the Central Bank of Myanmar, is putting increased pressure on local banks to quickly improve their services or risk losing customers to foreign banks. The IFC’s experience with finance and international banking will help MCB improve its banking systems and practices in order to provide better banking services to customers. The IFC will provide consultation services to MCB during their reforms which will help the bank to realize its goals.
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  Italian Company granted permission to develop a hotel project which worth USD $ 3.2 million in Kawthoung district, Tanintharyi Region

  An Italian company has been granted permission to develop a hotel project worth US$3.2million in Tanintharyi Region’s Kawthoung district, according to the Directorate of Investment and Company Administration (DICA). The move will be carried out under a joint venture – Myanmar Green Century – with a local company, DICA’s director U Kyaw Win Tun told The Myanmar Times. Myanmar Green Century will build a hotel across 6.8 hectares of land on Kyun Mei Gyi island in Bokepyin township in Kawthoung, he said.
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  Construction Housing & Infrastructure Development (CHID) Bank opened its new branch in Dagon Seikkan at Yuzana Housing in Dagon Seikkan Township

  The Construction Housing & Infrastructure Development (CHID) Bank opened its Dagon Seikkan Branch at Yuzana Housing in Dagon Seikkan Township, Yangon, Saturday. Union Minister for Construction formally opened Dagon Seikkan Branch of CHID Bank. At the event, Union Minister for Construction U Han Zaw said that CHID would implement effectively construction, urban and housing sectors as well as basic infrastructure development tasks in the nation and banking and financial services. The strong point of the bank is that the loan system for housing and basic infrastructure development could be carried out with the long-term disbursement loans. According to ODA Loan (Two-step Loan) program of Japan, the housing mortgage Loans have been disbursed with affordable interest rate for occupying houses by low-income people.
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  Myanmar’s sea trade with foreign countries reached over USD 21.6 billion as of 16 August in the current fiscal year 2018 – 2019

  Myanmar's sea trade with foreign countries reached over 21.6 billion U.S. dollars as of Aug. 16 in present fiscal year 2018-2019, figures from the Commerce Ministry said, according to a Xinhua report. From October 2018 to August 16 this year, export value through sea routes amounted to over 8.4 billion U.S. dollars while its imports shared 13.2 billion U.S. dollars.
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  The government authorities, UMFCCI and Foreign CCIs were jointly organized the “Co-Creative Event” in Yangon with the aims to enhancement of trade and investment in Myanmar

  The “Co-creative Event” between relevant government authorities, UMFCCI and Foreign CCIs was held in Yangon, 24th August. The event was organized by UMFCCI to discuss ways and means of enhancing trade and investment in the nation. The talks covered substances such as co-operation work among stakeholders, ways to promote joint activities in realizing the private sector’s aspirations and develop solutions to tackle and overcome challenges.
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  Government is planning to raise import licensing fees in response for the changing economic environment of the country

  The government is planning to raise import licensing fees in response to the changing economic environment of the country. Ministry of Commerce deputy minister U Aung Htoo proposed the new fee structure, which will see licensing rates of a minimum of K30,000 to a maximum of K90,000, from the current rates of K250 to K50,000. “We’ve reported to the Economic Committee of the Union Government on the new import licensing fee structure,” he said at a meeting of the Pyidaungsu Hluttaw meeting on August 26.
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  Local and foreign investors are expressed their interest in Thanlyin Industrial Zone project

  Both local and foreign investors are showing interest in the planned Thanlyin industrial zone project. Tahmoenye Company and Shwe Paing Htike Company visited the Yangon Chief Minister to talk about investing in the 400-acre industrial zone. “Local companies want to invest in the zone by partnering with a Chinese company. They visited and met the Yangon Regional Government to talk about their investment plans such as how much they will invest and when they will complete the project. Now, there are four local companies that want to invest in the zone,” said Naw Pann Thinzar Myo, the Regional Minister for the Karen Ethnics Affairs. The regional government said it will implement the project in accordance with approval from the head of state and suggestions from experts. However, the location for the industrial zone is not yet chosen.