ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  The Department of Trade under Ministry of Commerce planned to launch Myanmar Tradenet 2.0 aiming to assist National Single Window system in 2020

  Department of Trade under the Ministry of Commerce on Friday introduced Myanmar Tradenet 2.0 to assist National Single Window system. Since 2004, the Ministry of Commerce has been providing trade facilitation services for trading businesses online. Border trade online system was introdued in 2007 and map for licensing processes are included in the system starting from 2014. In 2016, licensing processes can be done fully online along with the introduction to Electronic Data Interchange system. Assistant Director, Information and Technology Subdepartment, Nwe Ni Win said “Various departments are using different systems from different locations. Some systems included in 2004 are no longer useful. So, we need to provide an updated version of the system.”
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  The road construction process between the border of Thailand and the Dawei Special Economic Zone (DSEZ) scheduled to start by mid 2020

  The construction process on the section of road between the border of Thailand and the Dawei Special Economic Zone (DSEZ) is expected to start by mid-2020, according to Dr. Myint San, Deputy Chairman of the special economic zone management committee. “We estimate starting the construction process in mid-2020. The Ministry of Construction will take responsibility for the road construction on our side of the border, while the Neighboring Countries Economic Development Cooperation Agency (NEDA) will take responsibility for construction on the extensive road system on Thailand’s side. This is where the project stands,” he said during an interview with state-run newspaper. The 138 kilometer (85.75 mile) long two-lane road will be located in Tanintharyi Region and connect the Dawei Special Economic Zone in Dawei, Myanmar to Htee Khee, Myanmar on the Myanmar-Thai border. This location is near Kanchanaburi, Thailand, and is also known in Thailand as the Ban Phu Nam Ron Border Crossing.
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  In partnering with Advans MFI Myanmar Co, Digital payment service provider Ongo will fully digitise microfinance loan repayments

  Digital payment service provider Ongo is partnering with microfinance lender Advans MFI Myanmar Co to digitise loan repayments. The move will enable Advans borrowers to pay back their loans more quickly and easily with a mobile app or with an QR Card at any Ongo agent, the company said in a press statement. Advans Myanmar started lending operations in April 2017 and serves over 44,000 clients with a loan portfolio of over K18 billion at the end of June. The MFI offers village banking to clients in rural areas as well as small group lending products and individual loans in urban areas. Advans aims to promote inclusive economic growth in Myanmar by building the financial stability of families, small businesses and farmers. Digital payment systems can ease the livelihoods of people who depend on finance services for their commercial growth and operations owing to the rising mobile internet penetrate rate, the company added.
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  Amata Corporation Pcl signed a framework agreement with Yangon Regional Government to turn Yangon into a smart and eco city with supporting infrastructure, logistics, services and other related businesses

  The long-awaited dream of turning Yangon, Myanmar’s commercial hub, into a smart city may soon be realised with the support of Amata Corporation Pcl, Thailand’s largest industrial estate developer. VikromKromadit, chairman of Amata Corporation Pcl, said at a signing ceremony on Thursday (August 22) that the firm would bring advanced technology and quality investors to Myanmar while ensuring environment protection for the local communities. “We will take on a grand project, unforgettable in the history of your country. We will make sure that Yangon becomes one of the best future cities in Myanmar,” he said. “We will bring good investors in line with the All Win philosophy, which means we will not only bring the best customers but also protect the environment. We will ensure the future Yangon city will be better than Amata in Thailand.”
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  Yangon City Development Committee (YCDC) will invite the private sector to supply and distribution of water in Yangon

  The Yangon City Development Committee (YCDC) will invite the private sector to take over the supply and distribution of water in Yangon, Mayor U Maung Maung Soe was quoted by state media as saying. He said the YCDC has been facing difficulties managing wastage and lacks the manpower required to prevent illegal tapping of water from the city’s pipelines, which is then repackaged and sold for higher prices in various municipalities, resulting in losses for the city. As such, the city has opted to allow private companies to manage the supply and distribution of water as a business instead. U Maung Maung Soe added that a ceiling price will be fixed to prevent water from becoming overly expensive.
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  India’s Civil Aviation told airlines which are interested in operating Imphal - Mandalay flight services on the particular route

  India’s Civil Aviation Minister Hardeep Singh Puri has asked the State Government to talk with airlines which are interested in operating Imphal-Mandalay flight service, the Sangai Express reported. During a video conference, the Union Civil Aviation Minister gave his approval to the idea of introducing Imphal-Mandalay flight service while asking officials to talk with airlines interested in operating the international flight service on the particular route.
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  Myanmar Business Association established in Yangon aiming to accelerate connection and cooperation among the entrepreneurs from the various fields in Myanmar

  Myanmar Business Association was established on Thursday in Yangon. The association aims to accelerate connection and cooperation among the entrepreneurs from the various business fields in Myanmar. The Association will also perform as a bridge between the government and entrepreneurs, Chairman of the Myanmar Business Association stressed. Chairman, Myanmar Business Association, Ko Ko Htwe said “Our association will solve the difficulties entrepreneurs are facing. If there are some we cannot solve, we will seek help from the government. There are a lot of associations already but we need one for all and that is Myanmar Business Association.”
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  Thailand’s PTT Group and India’s Indraprastha Gas Limited and Gail Consortium (IGL Consortium) selected to supply and distribute electricity and natural to Myanmar New City project near Yangon

  The main developer of a controversial new city slated for construction on the western bank of the Yangon River has selected two foreign companies to supply and distribute electricity and natural to for the project. New Yangon Development Company (NYDC) announced on Tuesday that it has chosen Thailand’s PTT Group, comprising PTT, PTTEP and GPSC, for power supply and distribution, and India’s Indraprastha Gas Limited and Gail Consortium (IGL Consortium) for natural gas supply and distribution. Last year, the Yangon government launched NYDC, which plans to develop the New Yangon City project on 20,000 acres of farmland across the Yangon River from downtown Yangon. At the launch ceremony in March, Yangon Region Chief Minister U Phyo Min Thein said, “It is expected that the new city will create 2 million jobs,” while claiming that NYDC is fully owned by the government. The project is still awaiting the Union government’s approval.
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  CB Insurance and Thai Life Insurance PCL signed an joint agreement to offer new insurance products in Myanmar market

  Yangon-based Citizen Business Insurance Public Ltd (CB Insurance) has formalised a joint venture with Thai Life Insurance PCL (Thai Life) through an agreement signed on August 16 that will see both companies working together to offer new insurance products in the Myanmar market. Part of the CB group of companies that includes Co-operative Bank Ltd, the agreement between CB Insurance and Thai Life came about after the government announced in late July further liberalisation of the local insurance market by giving approval for six foreign insurers to form partnerships with local insurers. CB group chair U Khin Maung Aye said the partnership sees CB Life holding a 65% stake in the joint venture, with the remaining stake held by Thai Life. “The partnership will see Thai Life offer more life insurance products in Myanmar leveraging on its technology and market knowhow,” he said.
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  Total foreign direct investments (FDIs) expected to hit up to USD 5,800 million in the current fiscal year

  The total foreing direct investments are expected to hit up to 5,800 million US dollars in the current fiscal year, according to the Myanmar Investment Commission (MIC). From October 1, 2018 to August 13, 2019 of this FY, the total FDI hit 3832.466 million US dollars. Eleven overseas investments worth 74.335 million US dollars, got the nod at the MIC’s meeting No.13/2019. The MIC allowed two investment proposals and one investments while the Yangon Region Investment Committee gave the permit to eight businesses. It can create 5887 new jobs for locals. These investments are linked to the industry sector. During this fiscal year, the MIC allowed 235 foreign investments worth 2291.442 million US dollars. The total FDI including investment promotion, reached 3608.786 million US dollars.