ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

• 

  Myanmar’s tourism targeted to reach out to the US travel market by cementing closer ties with the American of Travel Advisors (ASTA)

  Myanmar’s tourism leaders are reaching out to the US travel market by cementing closer ties with the American Society of Travel Advisors (ASTA), TTR Weekly reported. Myanmar Tourism Marketing the official channel for promoting tourism in overseas markets signed a Memorandum of Understanding with ASTA last week. Over 150 people from the tourism industry attended the event organised to show Myanmar is prioritising efforts on the US outbound travel market.
• 

  DaNa Facility will invest USD $ 1.7 million in a new mobile banking project for a financial services scheme for the clients in the remote parts of Myanmar

  DaNa Facility and a microfinance institution will invest in a new mobile banking project which will extend digital financial inclusion to Myanmar’s unserved population in rural areas and disadvantaged groups. VisionFund Myanmar (VFM), a UK-based microfinance institution, together with the Department for International Development (DFID)’s DaNa Facility will put down US$1.7 million for a financial services scheme for clients in the remote parts of Myanmar. VFM will receive assistance to upgrade their system and technology and utilise mobile applications so it can further expand its services to include women, migrant workers, and smallholder farmers. “Through the project, VisionFund aims to provide customers with mobile wallets and clients with access to digital financial products. It has the potential to transform the lives of so many poor and marginalised people across the country,” said Ma Su Wint Wah, PSD policy officer of UKaid Myanmar.
• 

  The 20 member of Indian delegation met up with the executive members of UMFCCI to exchange the bilateral commercial relations and futures of Act East Policy

  A relationship building tour from India made 2-day visit in Yangon, and on the 4th of July, they met with the Myanmar officials at Pan Pacific Hotel. A 20-member Indian delegation exchanged views and futures of Act East Policy with the executive members of Union of Myanmar Chamber of Commerce and Industry (UMFCCI) and India-Myanmar Chamber of Commerce (IMCC). The tour intends to interact with prominent organizations and to sensitize the decision makers for potential economic growth of the State of Assam and larger North Eastern Region of India and their proximity to Myanmar. Assam located in the North Eastern Region of India stands as the most favorable location to focus on implementation of India’ Act East Policy
• 

  Myanmar Investment Commission (MIC) permitted Chinese cattle breeder, Kangrui Agriculture & Livestock Development Company to invest in the breeding cattle in Myanmar

  The Myanmar Invest Commission (MIC) last month permitted China’s Kangrui Agriculture & Livestock Development Company to invest in the raising of cattle in Myanmar. The investment will involve an injection of US$37 million in funds. A breeding facility will be established in Mahlaing Township, Mandalay Region. Kangrui Agriculture & Livestock Development Company, which is 90 percent owned by Shanghai Penghe Supply Chain Management and 10pc by Dehong Penghe Agriculture Development, will be the first wholly-owned Chinese outfit to invest in breeding cattle in Myanmar. The cattle will be bred domestically and mainly exported to China, said U Thant Sin Lwin, Acting Director General of Directorate of Investment and Company Administration (DICA).
• 

  Yili Group and Mandala (Myanmar) signed the cooperation agreement to distribute best quality dairy products to Myanmar consumers

  Signing Ceremony of Cooperation for Distribution between Yili Group of China and Mandala (Myanmar) took place in Yangon, Tuesday. The event is aimed to distribute best quality dairy products to Myanmar consumers through cooperation. Assistant General Manager, Yili Group of China, Kevin Zheng said “I think China and Myanmar has very near and we have so many commercial activities. Through our cooperation, we can sell our products here and like more Myanmar consumers to have a taste about our products. So I think through all products, I can like more and more Myanmar people to get know about Chinese products.” Both sides have planned to distribute dairy products in Myanmar through cooperation since 2016. Through several meetings and discussions, the agreement can be signed this year and the dairy products are planned not only to distribute to Myanmar consumers but also to South-East Asia countries, an official of Mandala (Myanmar) said.
• 

  Yangon Regional Government planned to make the beach at Sal Eain Tann Village in Kungyangon Township into an official beach and tourist attraction

  On June 25, a lawmaker at the Yangon Regional Parliament asked whether the regional government has plans to make the beach at Sal Eain Tann Village in Kungyangon Township, Yangon, into an official beach and tourist attraction. Naw Pan Thinzar Myo, the Regional Minister for Karen Ethnic Affairs, replied that before making it into an attraction filled with swimming, frolicking, tourists enjoying a barbecue on the beach, the regional ministry will have to conduct a survey to ascertain whether it is an economically viable venture. It will then submit the findings to the Yangon Government. On January 1, 2015, the Union Ministry of Hotels and Tourism issued an announcement that this area would be an official beach, and that it would open for visitors. On the face of it, this looked like a fantastic idea, as it is located less than 100 kilometers south of Yangon, and is the closest beach to the city.
• 

  The exports of CMP sector increased over USD $ 1.1 billion which is up over 19 percent in nearly nine months of current fiscal year

  For about nine months into the current fiscal year, the exports of CMP sector increased by over 1.1 billion US dollars, up over 19 per cent, according to the figures from the Ministry of Commerce. From October 1 to June 21 of 2018-2019 fiscal year, export earnings hit over 12.109 billion US dollars, 1.99 billion USD more compared with the same period last year. An increase in export earnings is linked to more exports of CMP products. In around eight months of this fiscal year, the export earnings saw a 19.49-per-cent increase as the exports increased by 1.199 billion USD compared with the same period last year.
• 

  The Electric Power Generation Enterprise (EPGE) called for the purchase tenders at five power projects to produce over 1000 MW of energy in time for summer 2020

  The Electric Power Generation Enterprise (EPGE) under the Ministry of Electricity and Energy (MOEE) has called for purchase tenders at five power projects with the aim of producing over 1000MW of energy in time for summer next year. The invitation comes after State Counsellor Daw Aung San Suu Kyi last week officiated the opening of the Minbu Solar Plant project, Myanmar’s first commercial solar-powered plant, in Magwe Region. In Minbu, Daw Aung San Suu Kyi said an additional 1200MW of power will need to be generated over the short term to fulfill demand in the coming year. This will be purchased from existing gas-fired plants as well as floating power plants, U Ye Tun Zaw, an engineer for the MOEE, told The Myanmar Times.
• 

  Joint venture with Myanmar firm, Chinese petrochemical giant proposed the development projects which is worth USD $ 800 million near Kyaukphyu Special Economic Zone (SEZ)’s deep seaport and Ramree island

  YANGON—A Chinese petrochemical giant and a Myanmar firm have jointly proposed to the Rakhine State government the development of nearly US$800 million (1.21 trillion kyats) worth of projects near the Kyaukphyu Special Economic Zone (SEZ)’s deep seaport and Ramree Island. The centerpiece of the proposal is a new logistics terminal on Maday Island situated 10 kilometers east of Kyaukphyu to support the deep seaport project. It also includes a project in Za Yet Pyin Village on Ramree Island called the Sea View Beach, 40 kilometers south of Kyaukphyu District, as well as a US$5 million fishery in the Than Zit River. Myanmar Bright Prospect International Logistics (MBPIL) director U Ding Ying, an ethnic Kachin businessman, held a meeting with Rakhine State Chief Minister U Nyi Pu, which was also attended by several state cabinet members, in Sittwe on June 28, according to Rakhine State Municipal Affairs Minister U Win Myint. During the meeting, U Ding Ying laid out MBPIL’s plans, including an estimated budget for each project, to the cabinet members, the minister said. The ruling National League for Democracy’s ministers in the state government promised to help the developer clear the necessary legal hurdles in order to implement the project “as soon as possible,” as they believe it will create job opportunities for local residents and boost regional infrastructure development.
• 

  Ministry of Commerce is planning to grow up high-yielding US soybeans in Shan State with the aim to introduce more widespread planting of the crop

  The Ministry of Commerce will grow high-yielding US soybeans in Shan State’s Nawngcho township as an experiment prior to introducing more widespread planting of the crop. The ministry’s deputy director-general for consumer affairs U Aung Maun said native soybean species produce between 12 and 20 baskets per acre compared to US species, which can produce between 30 and 70 baskets. “There’s an opportunity here for both domestic consumption and exports if we can grow more soybean,” he said, adding that Myanmar could sell more soybean if China continues to halt US soybean imports since June after slapping a 25pc tariff last July due to the trade dispute with the US. U Aung Maun said that the first batch of US soybean would be grown as an experiment starting this October while a soybean forum has been planned to promote the US crop. A meeting was also held with the local Pyithu Hluttaw representative and the Myanmar Edible Oil Millers Association.