ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Myanmar delegation will exhibit the Myanmar’s products at the Biofach South East Asia- International Organic Trade Fair and Conference which will held in Bangkok to raise with more exposure to global export market

  On Tuesday morning, Myanmar team comprised of 32 members left Yangon for upcoming Biofach South East Asia - International Organic Trade Fair and Conference to be held in Bangkok from 11th to 14th of July. For development of Myanmar’s biotrade export market, Myanmar team made up of members from Myanmar Tea Planters, Producers and Exporters Association and Myanmar Thanakha Planters, Producers and Exporters Association, representatives from Helvetas Myanmar and entrepreneurs from businesses of Myanmar tea, Thanakha and Jujube is fully prepared to exhibit products of Myanmar at the South East Asian level trade fair. Representative, Salay Shae Saung Co., Ltd. (Shan & Kayah States), Nan K Ngin said “At the upcoming trade fair, "Say Ma Kyee" or medicated tamarind which is good for our health will be exhibited. We want to analyse our own product’s weaknesses, strengths and requirements by exhibiting. Our products will be exported to global market once they are in the safe side.”
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  Yangon Region Investment Committee was approved the new investments which will create over 3,000 jobs opportunities

  Yangon Region Investment Committee on June 27 approved seven foreign investment proposals and one local investment proposal. The foreign investments total $8 million, the local investment is worth K2.5 billion. The investments are expected to create over 3,000 jobs opportunities. “In approving foreign investment proposals, our regional government can approve investments lower than $5 million. If the investment amount is above $5 million, then it becomes Myanmar Investment Commission responsibility, they have the authority to approve those proposals. The regional government can only make suggestions. We are trying to streamline investments in Myanmar,”said U Phyo Min Thein, Chief Minister of Yangon.
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  Myanmar’s corporate executives upbeat the growth prospects on Myanmar’s economy which is remain deeply concerned on the lack of transparency in the business environment

  Corporate executives in Myanmar are upbeat about growth prospects but remain deeply concerned about the lack of transparency in the business environment, the latest Oxford Business Group (OBG) survey reveals. “We saw, somewhat surprisingly, that business sentiment in general was positive. It remained pretty resilient despite the headwinds that the country faced,” OBG Asia regional editor commented at the survey launch. After three years under the administration led by Daw Aung San Suu Kyi, more than two-thirds (69pc) of respondents describe their near-term expectations for business conditions as positive or very positive, with only slightly fewer (66pc) saying they expect their companies to make a significant capital investment in the year ahead.
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  Kachin Regional Government is prepared the master plan for Chinese-backed model economic zone along the China-Myanmar Economic Corridor

  A Kachin State minister said a master plan for a planned, Chinese-backed, model economic zone along the China-Myanmar Economic Corridor has been prepared, and the Myanmar government is engaged in deep discussions with the company for the project’s implementation to avoid further challenges. The Kachin State government and the Yunnan Tengchong Heng Yong Investment Company (YTHIC) signed a memorandum of understanding (MOU) in May 2018 for implementation of the Myitkyina Economic Development Zone (MEDZ), also known as the Namjim Industrial Zone, which is 25 kilometers from the Kachin State capital of Myitkyina. YTHIC and the Myitkyina Economic Development Zone Committee (MEDZC), formed by the Kachin State government, are expected to build the massive MEDZ on approximately 4,700 acres of land along historic Ledo Road.
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  Myanmar and Japanese governments will revive a joint venture and sign an agreement on building Hanthawaddy airport near Bago next year

  Myanmar and Japan will form a joint venture and sign an agreement next year to kickstart the long postponed Hanthawaddy International Airport project located 80km north of Yangon near Bago. According to several government officials, both the Myanmar and Japanese governments have met at least four times to nail down details of the project, which would be financed by Japanese government loans and involve the country’s construction and airport operators. While details on cost have not been announced, the last tender valued the project at US$1.5 billion. The Japan International Cooperation Agency has estimated the project to cost US$2 billion. The new airport would be built on some 3600 hectares of land belonging to the Department of Civil Aviation (DCA). Also, an updated design for the airport would have to be approved, with a connection to the railway network included.
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  Sagaing Regional Government will issue more permits to businesses in quarry industry in order to increase regional government’s revenue

  The Sagaing Region government will generate more income for development work if it starts issuing more permits to businesses engaged in quarry industry for construction purposes, said U Kyaw Tin, the chairman of the Construction Stone Sellers’ Association, Sagaing Region. “Although the association has been registered since 2018, only 20 per cent of the entrepreneurs are operating with an official license. Therefore, the regional government is losing revenue and thus, earning much less than it should be. So, the government must issue business licenses to those who have already applied for it,” said U Kyaw Tin. There are 319 businesses carrying out quarry on 691 acres in Monywa, Sagaing, Yinmabin, Kalay, Kanbalu, Katha, Shwebo, Tamu, Mawlaik, and Khamti districts in Sagaing Region. Of them, only 72 have obtained official licenses, while the remaining have submitted their applications.
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  In partnership with Japanese life insurance company, Nippon Life, Grand Guardian Insurance (GGI) will provide the life insurance and additional services in Myanmar

  Grand Guardian Insurance (GGI), a member of Shwe Taung Group, has teamed up with Japanese life insurance company Nippon Life. The two companies signed an agreement in June, Grand Guardian Insurance will own 65 percent and Nippon Life 35 percent. The joint venture will operate under the name Grand Guardian Nippon Life Insurance, they will provide life insurance and additional services. The two companies have submitted approval for their joint venture and are expecting to receive the approval around October of this year. “GGI decided to partner with a foreign company to make a presence in the global market. We have reached the agreement with Nippon Life, who has been operating for 130 years,”said Daw Hhin Sein, Deputy Chief Executive Officer of GGI. Nippon Life Insurance was established in 1889 and stands as the biggest life insurance company in Japan.
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  The one of the South Korea’s top four banks, KB Kookmin Bank interested in expanding its business in Myanmar by providing more financial products and services especially in small and medium enterprises (SMEs)

  KB Kookmin Bank, one of South Korea’s top four banks, is interested in expanding its presence in Myanmar with more financial products and services, especially in the areas of providing financing for housing and small-and-medium enterprises (SMEs). KB Kookmin’s chief representative in Yangon, Kim Chang-woo, said the bank “is considering expanding its business in Myanmar by providing local financial products and services”. He told The Myanmar Times that the expansion included collaborations with Union of Myanmar Federation of Chambers of Commerce and Industry for products and services tailored to SMEs, support for state-owned enterprises, digital remittance services for Myanmar workers in South Korea and collaborations with Construction, Housing and Infrastructure Development (CHID) Bank. Kim was commenting on the bank’s chief executive officer Hur Yin’s meeting on July 4 with Myanmar’s Minister of Construction U Han Zawin Seoul, where there were discussions on collaboration in provision of financing for housing.
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  Myanmar earned USD $ 1.2 billion more from the border trade within nine months of this fiscal year

  Myanmar earned US$1.2 billion more from border trade within nine months of this fiscal year compared with the same period in last fiscal year despite lowered trade t the Muse border trade center, according to statistics from the Ministry of Commerce. Myanmar earned over US$8 billion from border trade within nine months from October 1 to June 28 in 2018-19 FY and it earned over US$6.730 billion from border trade in the same period. The export value was reduced over US$850 million from Muse border trade center within nine month of this fiscal year while the import value rose by over US$68 million from Muse border trade center. Myanmar earned US$3.8 billion from Muse border trade center within nine months of this fiscal year and it is less than over US$780 million compared with the same period in last fiscal year, according to the ministry.
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  Oxford Business Group (OBG) and UMFCCI signed an MOU to collaborate for the next 2020 business report

  Oxford Business Group (OBG) and the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) has signed an MoU to collaborate for the next 2020 business report, which will be prepared by Oxford Business Group. Under the agreement, UMFCCI will participate and provide assistance in doing research for the Report: Myanmar 2020 and for other surveys and studies, which will be available in all platforms of OBG. “Oxford Business Group is the leading organization in developing markets and their research is very useful for Myanmar. We are glad to partner with OBG’s experts,”said U Zaw Min Win, President of UMFCCI.