ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  The new power plant capable of producing 145 Megawatts (MW) of power opened in Belin Kyaukse Township in Mandalay

  A power plant capable of producing 145 Megawatts of power opened in Belin, Kyuakse Township in Mandalay on May 17. The power plant will use 30 million cubic feet per day of domestically produced natural gas from the Shwe offshore gas field. The plant opens a year after Power Kyaukse Company won the tender for the project under a build, operate and transfer arrangement in May 2018, said U Win Khaing, Union Minister of Electricity and Energy (MOEE). Around 90 percent of the electricity produced by the plant will be distributed to the Mandalay region through the Mandalay industrial zone substation and Aung Pin Lae power substation. The region is the second biggest consumer of electricity in Myanmar.
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  Myanmar Garment Manufacturers Association (MGMA) partners with Japan External Trade Organization (JETRO) to provide technical assistance to boost human resources in garment sector

  Myanmar Garment Manufacturers Association (MGMA) has partnered with JETRO (Yangon) and has kept opening MGHRDC in a bid to boost human resources in garment sector and provide technical assistance, according to the MGMA. “The MGHRDC was established on March 25 in 2009 as a future task,” said a responsible person of the MGHRDC. The MGHRDC was jointly established by the MGMA and the JETRO and trainings on industrial engineering were conducted at garment factories through mobile system in 2009 and 2010. With the assistance of Myanmar Investment Commission and the Ministry of Industries, the center could be open. The center provides the courses such as motor sewing, supervisor level IE, top management, sewing machine adjusting and turning technique, attachment, production management, basic garment inspection, high-class garment inspection, special sewing, needle and thread, seminar on garment and clothing quality promotion.
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  One of the logistics services provider in Myanmar, Ever Flow River Group Public Company (EFR Group) listed on the Yangon Stock Exchange (YSX) this year

  Ever Flow River Group Public Company (EFR Group), which provides logistics services in Myanmar, is gunning for an initial public offering (IPO) on the Yangon Stock Exchange (YSX) this year, its chair, U Kyaw Lwin Oo, told The Myanmar Times. If successful, it will become the sixth company to list on the bourse since its launch in 2016. EFR Group is listing to gain better access to funds it will need to develop its logistics assets and to strengthen its reputation and corporate governance standards over the longer term, U Kyaw Lwin Oo said. “There should also be a logistics company listed on the YSX,” he added. EFR Group is one of the largest logistic companies in the country and was established in 1996. The company provides services to five industries: trading, agriculture, manufacturing, hotels and tourism. It comprises seven subsidiaries, one affiliate and two project companies and employs over 600 employees, according to the company.
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  Central Bank of Myanmar (CBM) will allow foreign bank subsidiaries to provide retail services

  The Central Bank of Myanmar (CBM) will allow foreign banks to open branches in the country to help local businesses gain access to financing, deputy governor U Soe Thein said during a press conference on May 17. This includes subsidiaries of foreign banks. “We will allow more foreign bank branches to open up to a suitable extent. Foreign bank subsidiaries will also be allowed in accordance with the law,” he said. The development comes after the CBM in recent months permitted the 13 foreign banks currently operating in Myanmar to open new branches and later removed restrictions prohibiting them from lending to local businesses.
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  Onshore oil fields distributed over 23million cubic feet of gas daily for use in CNG passenger buses

  The onshore oil fields distribute over 23 million cubic feet of gas daily for use in CNG passenger buses, said Tin Maung Oo, permanent secretary of the Ministry of Electricity and Energy. The information was disclosed during a press conference on the clarification of the ministry's activities in the third year of the government's term held in Nay Pyi Taw on May 9. He said 28,299 motor vehicles across Myanmar had been converted into CNG ones. The ministry sells gas around the clock by opening 46 CNG stations—41 in Yangon Region, two in Mandalay Region, two in Yaynangyaung Township and one in Chauk Township. Now, new Kwang Shin-brand machinery from Korea has been installed at the CNG station in Paleik town of Mandalay Region.
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  Myanmar Government is planning to adopt a land use policy to make investment in the livestock breeding sector more attractive

  According to the Farmland Law of 2012, using farmlands for any purpose except farming is prohibited. Penalties and fines for non-compliance could include six months to two years of imprisonment, a fine ranging between K300,000-500,000, eviction, or the loss of on-site assets. This has caused problems for those who wish to breed livestock or fish, and who need valuable land space in order to carry out such work. The Protecting Rights and Enhancing Economic Welfare of Farmers Law was enacted in 2013 in an attempt to alleviate some of the issues the previous law created. For example, it was to create a committee comprised of members not only of the government, but also representatives from farmer associations so that they could help enforce many of the “protection” segments of the law, as its very name stated. However, it was not a perfect solution for the issues.
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  Foreign Direct Investment worth more than USD $ 2.56 billion entered Myanmar as of 11 May in current fiscal year

  Over the past seven-month period (Oct-May), overall foreign direct investments of $2.56 billion flowed into the country, including expansion of capitals by existing enterprises and investments of over $134 million in Thilawa Special Economic Zone, according to press release of the Directorate of Investment and Company Administration (DICA). From 1 October, 2018 to 11 May, 2019, a total of 155 foreign enterprises were received permits and endorsements, bringing in capital of $1.7 billion. Singapore-listed enterprises pulled the largest investments during Oct-May period, followed by China and Hong Kong.
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  The market demand for steel in Myanmar projected to surge to five million tonnes in 2025

  According to World Steel Association’s projections, market demand for steel in Myanmar will surge to five million tonnes in 2025, said U Myint Swe, executive director of Danieli Myanmar, an Italian supplier of equipment and physical plants to the metal industry. U Myint Swe said this during a talk on the development of Myanmar’s iron and steel manufacturing sector organised by Danieli in Mandalay. He said there is a big gap between the quantity of domestic production and potential demand. “The World Steel Association’s projection’s for our country’s show market demand will rise to about three million tonnes by next year and continue to surge to about five million tonnes in 2025. So there is a big gap between production and demand. To close the gap, local manufacturing sector really needs to develop. The steel industry has a major role in developing the economy of a country. Our domestic steel industry will need to develop for the Myanmnar’s industrial development,” said U Myint Swe.
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  The 2nd Tourism MSME Forum 2019 was held in Yangon in order to develop small and medium enterprises of travel and tourism industry

  MSME Development Subcommittee under the Union of Myanmar Travel Association organized the “2nd Tourism MSME Forum 2019” in Yangon on Thursday. This is to develop small and medium enterprises of travel and tourism industry. MSME Development Subcommittee was established in 2016 and made the travel and tourism industry included in the SME Law. MSME Development Subcommittee organized the 1st Tourism MSME Forum in 2017 and 6 issues were decided for the matters including taxation, development of vocational training and education for tourism.
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  European Chamber of Commerce in Myanmar will held its third Myanmar-EU Economic Forum on June 5 in Nay Pyi Taw

  After the success of the previous two editions, the European Chamber of Commerce in Myanmar (EuroCham Myanmar) is proud to announce that the third Myanmar-EU Economic Forum will be held on June 5 in Nay Pyi Taw. Over two days, Myanmar and European business communities will be brought together, with more than 500 guests expected to be present at this high-profile event. As an annual event, the Myanmar-EU Economic Forum aims to discuss the current business climate, as well as what has been achieved by the extensive work of our advocacy groups. The purpose of this unique and diverse gathering of high-level government officials, leading private sector representatives, key experts from international organisations and leading academics is to share knowledge and play an active part in the advancement of Myanmar.