ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Mandalay Rice Development Company (MRDC) and Kunming Green Color Trade Co., Ltd signed the first overland barter trade agreement on 25 July 2019

  An agreement for overland barter trade has been signed between Mandalay Rice Development Company (MRDC) and Kunming Green Color Trade CoLtd from China’s Yunnan province in which the former will trade 100,000 tonnes of rice to the latter for an equivalent in other trade goods starting next month. The undertaking, which was signed on July 25, would be the first such agreement between private companies following the signing of a memorandum of understanding between the Myanmar and Chinese governments on the overland barter trade earlier this year. MRDC managing director U Sai Kyaw said both companies would be the intermediaries for goods to be traded under the barter system. “Chemical fertilisers, construction material, electric appliances andagricultural machinery manufactured from Yunnan province can be imported with a 5 percent discount on the market price,” he said, adding that both sides were now awaiting the greenlight from their respective governments to start trading.
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  Ministers from the Union Government called for the sustainable and quality investments for the Tanintharyi Region’s tourism industry

  Union Minister for Investment and Foreign Economic Relations U Thaung Tun, Union Minister for Hotel and Tourism U Ohn Maung and party arrived at Kawtthaung, Taninthayi Region in the morning on 26 July to carry out the measures on the tourism and investment. The Union ministers and chief minister and ministers of Taninthayi Region and officials inspected the area to be constructed Marina Bay in ThaHtayKyun by motor boats. In the afternoon, the meeting (2/2019) of Taninthayi Region Tourism work committee was held at the meeting room of ThaHtayKyun Hotel. At the meeting, Union Minister U Ohn Maung highlighted the arrangements of travels and tours in Myeik myeik archipelago and the developments of tourism industry in the region, urged to implement sustainable tourism, conserve the natural environment and marine resources, suggested to construct the buildings in Ecolodge style to maintain the natural environment and instructed to spend incomes from tourism industry for the development of tourism sector.
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  Foreign oil and gas companies can participate in the retail business in Myanmar in accordance with rules and regulations of Myanmar’s Government

  Foreign oil and gas companies with retail operations can apply to set up their businesses in Myanmar, a senior official with the Ministry of Electricity and Energy (MOEE) told The Myanmar Times. While Myanmar remains the only member of Asean that does not allow 100 percent ownership in retail petroleum operations, it has allowed foreign oil and gas companies to cooperate with local retail petroleum operators to set up shop in the country since 2017. The government allowed private sector participation in retail petroleum operations from 2010. The senior official said foreign oil and gas companies can participate in the importation, storage, distribution and sale of fuels as long as they were in accordance with the rules and regulations.
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  The very first Myanmar Arbitration Centre (MAC) will be opened in Yangon for the resolving commercial disputes among Myanmar entrepreneurs

  The Myanmar Arbitration Centre (MAC) will be opened on 3 August at the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry to resolve commercial disputes among Myanmar entrepreneurs, according to the UMFCCI. The Commercial Disputes Coordination and Mediation Work Committee of the UMFCCI has been trying to set up an arbitration centre since 2017. The MAC has been registered as a company with the Directorate of Investment and Company Administration, and the permission to form the centre was granted on 11 March, 2019. “Our company is not a normal one like other companies. Ordinary companies need capital investment. When we established the MAC, we didn’t have to put up any capital investment. We only have to implement the MAC with the company’s guarantee,” said Dr Maung Maung Thein, a consultant with the UMFCCI, at a media conference held on 31 July at the MAC at UMFCCI, Yangon.
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  Japanese companies are planning to build a new project of 1000 megawatts (MW) power plant in Myanmar

  According to U Zaw Min Win, Chairman of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI), Japanese companies are planning to build a new power project in Myanmar that will be capable of producing 1,000 megawatts (MW) of electricity per year. “Investment in electricity production is really overdue,” he said at a regular meeting between local business leaders and the Vice President of Myanmar. “There are some companies, including U.S. companies, that met us and said that they wanted to invest in Myanmar’s electricity sector. We heard that Japan has plans to build this 1,000-megawatt plant in Myanmar.” Investments like these can improve Myanmar’s power sector which, in turn, will encourage people to make further investments and boost productivity in the manufacturing sector, he added. Moreover, the UMFCCI is working with the government to facilitate the investments. U Soe Win, the Union Minister of the Ministry of Planning and Finance, said: “We are planning to use more of our budget for infrastructure and electricity, both of which are necessary elements that investors consider when making a decision on investment.”
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  Myanmar will decide to pick the location for the first deep sea port in next year

  Exclusive: The location for Myanmar’s first deep-sea port will be decided next year, according to a senior government official. “Construction of a Yangon deep-sea port is one of the projects included as second priority in the National Transport Master Plan. Work is being made and the location can be finally selected and approved within 2020,” U Aung Ye Tun, assistant secretary of the Ministry of Transport and Communications, told The Myanmar Times. Asked about the cost and project details, he said an analysis would be conducted before construction work begins. “Only after the analysis is completed, approval will be made regarding the implementation method, that is, whether it is done by a public-private partnership model or by a loan.”
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  Myanmar will host the first time annual activity of ASEAN Real Estate Network Alliance (ARENA) “ARENA Convention & Exhibition 2019” in Yangon with the aim to develop a platform for networking among the real estate practitioners

  Myanmar, for the 1st time, will host an annual activity of ASEAN Real Estate Network Alliance (ARENA) “ARENA Convention & Exhibition 2019 (ACE – 2019)”. ASEAN Real Estate Network Alliance (ARENA) is a regional grouping of eight National Real estate associations comprising Malaysia, Singapore, Philippines, Thailand, Indonesia, Vietnam, Cambodia and Myanmar. It aims to develop a platform for networking among real estate practitioners. Myanmar became a member of ARENA in 2016. The upcoming Convention & Exhibition will be organized by the Myanmar Real Estate Services Association. The theme for ACE- 2019 is “Embracing Technology & Networking” to build up real estate sector by using developing technology and connecting ASEAN Network.
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  PTT Exploration and Production Public Company Ltd (PTTEP) revised its higher capital expenditure (capex) to USD $ 21 billion for the 2019 to 2023 period

  Bangkok-based PTT Exploration and Production Public Company Ltd (PTTEP), a state-owned oil and gas firm,has revised higher capital expenditure (capex) for the 2019 to 2023 period to US$21.35 billion from US$16.1 billion. PTTEP president and chief executive officer PhongsthornThaivisin said on July 25 that the higher allocation of US$21.35 billion for the five-year investment plan from 2019 to 2023 was for accelerating exploration activities, particularly for the Zawtika offshore gas field in Myanmar’s Gulf of Moattama as well as other activities under the company’s expansion strategy. He said the company has successfully concluded business expansion for the first-half of this year that had been planned for.Likewise, this year’s capex has been revised to US$3.57 billion, from US$3.256 billion to align with the business expansion this year.
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  Yangon Regional Government is conducted a study and analysis for building a new port at the mouth of the Yangon River

  Yangon Region government chief minister Phyo Min Thein said that they were conducting a study and analysis for building a new port in Yangon River. The Chief Minister was speaking at a Yangon Region Investment Committee meeting held on July 24. “We are gearing up for building a new port at the mouth of the Yangon River. We are studying the waterway in Yangon River with assistance given by Netherlands. If we find the project feasible, we will submit it to the region legislative assembly,” CM Phyo Min Thein said. Currently vessels with 167 metre in length, 9 metre in draft and 15,000-tonnage can enter Yangon port but the bigger vessels with 200 metre in length, 9-metre draft and 20,000-tonnage have to enter the new Thilawa port, according to a statement issued by Ministry of Transport and Communications.
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  The local fishery producers called for a reduction on the duration of fishing bans during the meeting of Myanmar Fishery Federation

  At a meeting of the Myanmar Fishery Federation, local fishery producers called for a reduction on the fishing ban period, which was placed during the breeding season in order to protect fishery resources. Unlike previous years, the government has completely banned fishing along Myanmar’s coastal area between June and August. U Tun Sein, the General Secretary of Myanmar Fish Paste, Dried Fish, Fish Sauce Entrepreneurs Association, said that the ban is causing a hardship on those in the industry because there is no a very limited supply of raw materials. He said: “While the ban has no impact on business owners, it causes trouble for workers who are depending on the industry for their kids and their kids’ education. Therefore, we want to request that the government only hold the ban in force for two months instead of three next year. This year, the government placed a complete ban for three months, which has caused problems for the industry.”