ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Myanmar’s import of CMP (cut-make-pack) raw materials exceeded USD $ 1.8 billion between October and July of 2018-2019 fiscal year

  Myanmar’s imports of raw materials used by CMP (cut-make-pack) businesses exceeded US$1.8 billion between October and July in the present Fiscal Year 2018-2019, up by over $298 million from the year-ago period, the Ministry of Commerce reported this Friday. At this time last 2017-2018 FY, Myanmar spent $1.5 billion on importing CMP raw materials from overseas trading partners. In the week from 29 June to 5 July, CMP raw materials amounting to $44.39 million were imported from partner countries, increasing by nearly $5.8 million from the same period in the previous FY, when CMP imports were valued at $38.6 million.
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  Japanese companies are planning to build a new power project, 1000 megawatts (MW) 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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  The construction of the Chin State's first major airport, Surbung Airport project in Falam is now more than 50 percent completed

  About 53 per cent of the Surbung Airport in Falam has been completed, according to the Aviation Department. The project was started in 2016, and out of 6,000 ft of runway, 4,000 ft have been constructed. “Upon completion of the Surbung Airport, the socio-economy of Chin State would be uplifted and rescue works in Chin State would be sped up,” said Director U Kyaw Soe of the Department of Civil Aviation. Falam Airport is situated in the middle of Chin State and towns such as Falam, Haka, Thantlang and Tiddim can reach all airports in other states and regions thorugh here. Once this airport is completed it will become the aerial gateway of Chin State and enable visitors to come much more quickly.
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  Myanmar Extractive Industries Transparency Initiative (MEITI) revealed that the government earned million in revenue from the forest sector in Myanmar

  Internationally known for forestry products such as teak, timber extraction in Myanmar is lucrative. The website of the Myanmar Timber Enterprise (MTE) boasts that the “forestry sector in Myanmar is one of the major contributors to the national economy.” A new report from the Myanmar Extractive Industries Transparency Initiative (MEITI) reveals that the forest sector earned more than US$463 million in fiscal year 2014-15 and nearly $480 million the following year, representing 0.2 percent of the country’s GDP. On Thursday, MEITI released two reports on the forestry sector for fiscal years 2014-2015 and 2015-2016, shedding light on issues like the discrepancy in annual timber production numbers between the MTE and the Forest Department and the alarming rate of overharvesting (more than 200 percent of timber was cut than is annually allowed). The reports reconcile data provided by companies in forestry sectors with data provided by government bodies. They also aim to help the government identify positive contributions the forestry sectors have made to the economic and social development of the country and to improve resource management in a way that fully implements that MEITI principles and criteria. The Irrawaddy spoke with Daw Khin Saw Htay, a policy analyst with Forest Trends, about the most significant findings from the MEITI forest report, potential reforms for the government and the MTE, and loopholes in forestry law. She works as an implementation partner and offers technical support to MEITI.
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  Joint venture with Global South Industrial Company (GSIC), Kayah State Government will build a metal refinery which is worth USD $ 50 million in Loikaw’s industrial zone

  A Myanmar-China joint venture will be building a metal refinery worth US$50 million located in Myanmar’s eastern Kayah State’s capital of Loikaw. The Directorate of Investment and Company Administration (DICA) said in a statement that the joint venture, Global South Industrial Company (GSIC), was granted permission to build the refinery in Loikaw’s industrial zone. DICA said the US$50 million investment will also see up to 500 jobs created in the refinery, which will be used to refine tin-tungsten and wolfram. GSIC operates tin-tungsten mining near the Kayah State-Shan State border, which would be transported to the new site to be refined once its operational and then be exported mainly to China, the Kayah State DICA secretary Daw May Myo Zaw said.
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  Myanmar government held the 1st BIMSTEC Ministerial meeting on Agriculture sector in Nay Pyi Taw to ensure sustainable and inclusive development and promoting cooperation in agricultural sector

  Myanmar hosted the 1stBIMSTEC Ministerial Meeting on Agriculture at Hilton Hotel in Nay Pyi Taw on 12th July. Union Minister for Agriculture, Livestock and Irrigation Dr. Aung Thu and Secretary General of BIMSTEC Ambassador M. Shahidul Islam delivered speeches. As the agricultural sector is one of the 14 areas of BIMSTEC cooperation, the Union Minister called for economic cooperation among member states to ensure sustainable and inclusive development, and promoting cooperation in agricultural sector. As per the decision of 4th BIMSTEC Summit held in Nepal last year, Myanmar hosted the 1st BIMSTEC Ministerial Meeting on Agriculture, and the 1st BIMSTEC Experts Working Group on Agriculture Meeting.
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  Myanmar earned USD $ 469 million from export sector when compared to the same period of last fiscal year

  Myanmar earned US$2.625 billion from October 1 to June 28 in this fiscal year and it is US$469 million more compared with the same period in last fiscal year, according to Ministry of Commerce. Myanmar is exporting its products through maritime and border trades. Although maritime export is reduced a little in this fiscal year, total export volume is bigger than last fiscal year as border trade amount is increased. Myanmar earned US$18.249 billion from maritime trade and it is less than US$805 million compared with the same period in last fiscal year.
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  Tanintharyi Region Government will call for the tender to coverage the power generation and distribution in the capital of Tanintharyi Region, Dawei district

  In a move to ensure that Tanintharyi Region’s capital Dawei continues to have electricity, the regional government has invited companies to bid for a new tender to supply electricity to the capital and surrounding area, known as Dawei district. The regional minister for electricity and energy U Aung Thura told The Myanmar Times that the tender, covering both power generation and distribution, would be for five years or until Dawei can tap power from the national grid. Interested companies have up until August 8 to place a deposit of K30 million with the Myanmar Economic Bank. U Aung Thura said Dawei district could get its power needs from the national grid as early as next year. He explained that the company successful in the tender would take over from GGS but would have to hand over to the national grid should coverage reaches Dawei.
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  Myanmar tourism authorities expected to remain positive after visa restrictions eased for foreign visitors

  With the easing of some visa restrictions to attract more Western tourists to take effect on October 2019, Myanmar expects to receive more visitors this year, a senior official said. Aung Aye Han, deputy director general at the Ministry of Hotels and Tourism, said the authorities see a bright outlook for Myanmar's tourism industry thanks to the efforts of key stakeholders. We witnessed a 24 per cent increase in tourist arrivals in the first half of this year. So we hope to receive more in the second half," he said. As of May, Myanmar received 1.84 million visitors, up 24 per cent from the same period of last year. More than 3.55 million visited the nation last year. "Our recent visa relaxation will take effect soon. Starting from October 1, visitors from Australia, Germany, Italy, Russia, Spain and Switzerland no longer need to apply for a visa in advance," he said.
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  The Securities and Exchange Commission of Myanmar will allow foreign individuals and locally-registered entities to invest in listed shares of up to 35 percent at the Yangon Stock Exchange (YSX)

  Myanmar will allow direct foreign ownership of shares at the Yangon Stock Exchange (YSX), a move designed to throw a lifeline to the country’s only bourse. In a notice on Friday, the regulator, the Securities and Exchange Commission of Myanmar, said foreign individuals and locally-registered entities would be allowed to invest in listed shares of up to 35pc. No timeline was given but Ko Aung Thaw Zin, research analyst at business information firm Frontier Myanmar Research (FMR), expects such trading to start by year end. “It’s unclear [from the notice] whether both resident and non-resident foreigners will be permitted to trade. I understand the SECM has already prepared the follow-on regulations, which is likely to allow [only] resident foreigners,” he added.