ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Tunn Star Logistics Company opened its new 60,000 square foot warehouse in Mingalardone Industrial Zone in order to store more products and increase their distribution capacity

  In order to store more product and increase their distribution capacity, on July 3, 2019. the Tunn Star Logistics Company opened a new 60,000-square foot warehouse in Mingaladon Industrial Zone. The company will store around two million liters of engine oil in the new facility, and thence distribute them across the country. Daw Lin Lin Tun, Managing Director of Tunn Star Logistics, told Myanmar Business Today: “We have been distributing engine oil across the country, with our main base in Yangon. As our business has grown, however, we have had difficulties in storing our products, so we built this new warehouse.” The company was established in 1999, and since 2007 has been the sole distributor for lubricants produced by Thailand’s PTT Public Company, Limited.
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  Myanmar authorities are planning to lift licensing requirements for some import items with the aim for trade facilitation

  Licenses for importing some of the over 4,000 products into the country will be done away with as part of the move to facilitate trade and ensure Myanmar adheres to international trade regulations. Ministry of Commerce assistant secretary U Khin Maung Lwin said import licenses will be done away with in a move to facilitate freer trade. “Some items will be liberalized but not all. We mainly aim for trade facilitation,” he said.
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  The Chili Market and Technology Development Association will sign a MOU with a Vietnam based company this month for the exporting of chilis to Vietnam

  The Chili Market and Technology Development Association will sign a memorandum of understanding (MoU) with a Viet Nam-based company this month for export of chilis to Viet Nam. Six containers of chilis are expected to be exported to Viet Nam every month under the agreement. The price at which chilis will be procured from farmers for export will be calculated on a daily basis according to the prevailing market rate. “The price of chili is on the decline because we don’t have demand from China. That is why we have turned to Viet Nam to purchase chilis from local farmers. Once local farmers agree, contract farming will be conducted on a regular basis. At present, we will purchase chillies from local farmers first because they are facing difficulties due to the price fall,” said Daw Ohnmar Kyaw, the chairperson of the Chili Market and Technology Development Association.
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  In partnership with Myanmar Coffee Association, USAID is assisting local private enterprises in the coffee sector in gaining access to the international coffee market and cultivating higher quality coffee

  Local coffee roasters who participated in USAID activities celebrated their achievements throughout the program in Yangon, Wednesday. In 2013, U.S. Agency for International Development, USAID launched 27 million USD Value Chains for Rural Development Project in Myanmar together with Myanmar Coffee Association and Winrock International as the technical team. The project aims to promote Myanmar's transition to a more inclusive and open economy, to increase bilateral trade and investment as well as to encourage local private enterprises in the coffee sector to the world class coffee for Myanmar consumers and for export. Chairman, Myanmar Coffee Association, Myo Aye said “After about 4 or 5 years, Myanmar coffee industry is well-developed in a certain level of quality, market linkage and capacity building with the support of Myanmar Coffee Association and USAID…Coffee lovers like Myanmar coffee because we produce very good quality under very good technology and very good treatment. So, we can export to international also.”
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  Myanmar Thilawa SEZ Holding Public Company (MTSH) is keeping eye on Special Economic Zones with the view to investments

  Myanmar Thilawa SEZ Holdings Public Company (MTSH) is watching events carefully before making some important investment decisions. In particular, it is keeping an eye on the discussions regarding Kyaukpyu Special Economic Zone and Deep Sea Port in the troubled Rakhine State, as well as those regarding Myitkyina Economic Development Zone in Kachin State. Ko Myo Myint Aung, the Head of Finance for MTSH, said: “The Kyaukpyu Special Economic Zone project is under negotiations between officials from Myanmar and China. We will decide where to make investments in the economic zone based on the results of the negotiations.” The Myanmar Government and China’s CITI Consortium are working together to implement the Kyaukpyu Special Economic Zone and Deep Sea Port project. Meanwhile, the Kachin State government and the Yunnan Tengchong Heng Yong Investment Company (YTHIC) signed a memorandum of understanding (MOU) in May 2018 to develop the Myitkyina Economic Development Zone.
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  Myanmar government expected to grow its GDP by 7 percent for the upcoming 2019- 2020 fiscal year

  Myanmar expects its economy to grow by 7 percent as measured by GDP for the upcoming 2019-20 fiscal year compared to the 7.6pc expected for fiscal 2018-19. According to the budget estimate submitted by the Union government to the Pyidaungsu Hluttaw on July 15, it expects total revenue of K25.3 trillion and total expenditure of K32.3 trillion, which will mean a 5.9pc deficit to GDP. The rate of the kyat to the US dollar was set at 1,525 compared to the current fiscal year’s 1,360. Commenting on the deficit, a member of the parliamentary Joint Public Accounts Committee, U Sai Thiha Kyaw, said there should not be too much worry over the deficit because, as in previous years, delayed implementation of projects has led to less expenditure than what was budgeted. This was also noted in a mid-year report for the 2018-19 fiscal year, which observed that many projects have not met their deadlines and recommended full use of the allocated amounts.
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  Yangon Innovation Center was officially inaugurated in a grand scale with the aim for the youth to provide with the job opportunities and help to connect with technological companies

  The opening ceremony of the Yangon Innovation Centre was held in front of that building in the compound of Health Port at the corner of Pansodan road and Strand road in Seikkan Township, Yangon Region, at 10 am yesterday. State Counsellor Daw Aung San Suu Kyi delivered a speech at the ceremony. She inaugurated the Centre by cutting the ceremonial ribbon. In her opening remark, she said, “Innovation is emerging as a top priority during the period of the Fourth Industrial Revolution. Developed countries have already applied Artificial Intelligence (AI) and the Internet of Things (IOT) across the areas from agriculture to education in their way to Industry 4.0. Automated machines have successfully taken over the combined use of man and machines in the production sector. On the whole, many global countries are found to be prepared for Industry 4.0 or Fourth Industrial Revolution. Our country has geographical advantages to produce green energy and healthy organic fruits abundantly. It also has many opportunities to become an agri-power nation through efficient and effective investments by applying technologies and innovations on the vacant cultivable lands. Therefore, it is very important that we need to have absolute self-confidence.
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  The parliaments of the Yangon Regional Hluttaw finally approved both Htantabin and Hlegu industrial park projects

  Members of Parliament (MPs) for the regional Hluttaw of Yangon has finally given the green light for the Htantabin and Hlegu industrial park projects to the north of Yangon city. The MPs approved both projects after Minister of Karen National Affairs Naw Pang Thinzar Myo, who is also the chair of the Yangon Region Investment Committee (YRIC), gave more details on the projects, including their backers. The Hluttaw approved both projects, part of the 11 new industrial parks proposed in 11 mostly rural townships as announced at the Yangon Investment Forum, on July 12.The projects, according to YRIC secretary U Myo Khaing Oo, are expected to start early next year. “The minister explained the background to the projects thoroughly to the MPs, saying that the projects have investors,” Mayangone township regional MP U Yan Shin said. Htantabin township regional MP U Aung Bone Kyaw San Oo said the more than 100 farmers affected by the Htantabin project has agreed to the project after a series of meeting were held with them by the regional government.
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  PTT Oil and Retail Business (PTTOR) opened its first petrol station in Myanmar by the end of year

  Thai energy company PTT Oil and Retail Business (PTTOR) has made official its entry into the Myanmar market by announcing the opening of stations and the construction of fuel depots, according to a petrolplaza.com report. PTTOR will open its first petrol station in Myanmar by the end of year and will build tank depots for oil and LPG as well as other fuelling facilities, according to Attapol Rerkpiboom, Chairman of PTTOR.
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  Myanmar’s trade with foreign countries reached over USD $ 26.58 billion as of 5 July in 2018 – 2019 fiscal year

  Myanmar's trade with foreign countries has reached over 26.58 billion U.S. dollars as of July 5 in current fiscal year 2018-2019, Xinhua reported. From Oct. 1, 2018 to July 5 2019, the country's export earned 11.72 billion U.S. dollars while its import shared 14.86 billion U.S. dollars.