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The value of Myanmar’s exports to Hong Kong SAR surpassed imports in the 10 months of the last 2019 – 2020 financial year
The value of Myanmar’s bilateral trade with Hong Kong SAR touched US$213.69 million in the 11 months of the last financial year 2019-2020, with exports surpassing imports, according to the data provided by the Ministry of Commerce. Between October and August, Myanmar shipped goods worth $208 million to Hong Kong SAR and imported goods valued at $5.56 million. Myanmar’s significant items of export to Hong Kong SAR include precious stones, agricultural products, fishery products, and garments. The nation mainly imports telecommunications equipment and optical goods. Myanmar-Hong Kong trade has registered $232.395 million in the 2018-2019FY, $238 million in the mini-budget period (April to September 2018), $385.63 million in the 2017-2018FY, 234.46 million in the 2016-2017FY, and $316 million in the 2015-2016FY, the Commerce Ministry’s data showed. -
The volume of stock trading at Yangon Stock Exchange (YSX) dropped for ten consecutive months of this year
The volume of shares traded on the Yangon Stock Exchange (YSX) in October has sunk to the lowest level of K673.5 million for ten consecutive months this year, with 85,630 shares, the YSX’s monthly report indicated. In January 2020, 196,836 shares worth K1.25 billion were traded on the exchange while 188,919 shares, with an estimated value of K1.48 billion, were traded on the exchange in February and 228,913 shares valued K1.42 billion were traded in March respectively. It touched the lowest of K902 million with 173,808 shares in April. It rose to K1.2 billion with 200,416 shares being traded in May. The share volumes traded on the exchange surged to 221,682 in June, with estimated value K1.3 billion and then, it fell to K1 billion with 125,137 shares in July. In August, the exchange witnessed a low of stock trading value at K747.5 million, with 118,850 shares traded. The value slightly rose to K838.67 million with 85,237 shares on the business in September, the exchange’s monthly report showed. At present, shares of six listed companies — First Myanmar Investment (FMI), Myanmar Thilawa SEZ Holdings (MTSH), Myanmar Citizens Bank (MCB), First Private Bank (FPB), TMH Telecom Public Co. Ltd (TMH) and the Ever Flow River Group Public Co. Ltd (EFR) is being traded on the exchange. In October, the share prices of FMI were closed at K9,900 per unit, MTSH at K3,650, MCB at K8,200, FPB at K22,000, TMH at K2,750 and EFR at K3,550 respectively. -
Sino – Myanmar trade has grown since the early of October despite the trade flow is delayed at border gates
Although the flow of the trade at Sino-Myanmar border is delayed, the trade flow has grown since early October, said U Min Thein, the vice-chairman of Muse Rice Wholesale Centre. “The Sino-Myanmar border trade has improved significantly since 8 October. Around 50 trucks carrying 640 rice bags each are entering through the border daily. So, around 32,000 rice bags are entering daily. And more than 30,000 rice bags are sold to China daily. Similarly, the corn has been permitted to enter as well. Around 30 trucks carrying corn bags are entering as well as other trucks carrying a variety of beans, sugar liquid and other goods are also entering every day. About 150 trucks are entering China daily,” he further said. Likewise, about 150 trucks from China carrying construction materials, medicines, food products and other personal goods are entering Myanmar. Although around 450-500 truckloads of cargo were not unusual earlier, now, only around 150 trucks can go through the border, and this has caused delays in trade. There is difficulty in the flow of goods into China because of the uncertainty caused by COVID-19 detecting and replacing the drivers, he added. -
The domestic investments reached over Ks 10 trillions within over the past four years of incumbent government
Local investment has reached over Ks10 trillions within over four-year time of this government era and they are mostly in real estate, services and production sectors, according to Myanmar Investment Commission (MIC). A total of 575 investments made by Myanmar citizens had entered in 12 sectors from 2016-17 FY to 2019-20 FY and total investment are over ten trillions kyats. The twelve sectors are housing development, other services, industrial, transportation and telecommunication, hotel and tourism, electricity, industrial zone building, livestock and fishery, construction, mining, farming and oil and natural gas sectors. -
The value of Myanmar’s bilateral trade with neighbouring country Thailand in maritime trade and border trade was estimated at US$18.865 billion in the past four financial years, the statistics issued by the Central Statistical Organization under the Ministry of Planning, Finance and Industry indicated. The ministry reported that exports surpassed imports in trade with Thailand in the past four years, with exports reaching over $10.731 billion and imports valued at over $8.13 billion. Between 2016-2017FY and 2019-2020 (as of August), Thailand has been Myanmar’s largest trade partner among the ASEAN states, followed by Singapore and Malaysia. Thailand accounted for 14.45 pc of total trade in 2016-2017FY with an estimated trade value of US$4.6 billion, 15.54 pc in 2017-2018FY with a trade value of $5.57 billion, 15.55 pc in 2018-2019FY with $5.46 billion and 13.92 pc in 2019-2020FY (Oct-April) with $3.15 billion respectively. Exports of natural gas from Taninthayi Region has contributed to the enormous increase in border trade with Thailand in the previous year. This year, corn exports to Thailand rose significantly compared with the earlier years, the Ministry of Commerce stated. Myanmar primarily exports natural gas, fishery products, coal, tin concentrate (SN 71.58 per cent), coconut (fresh and dry), beans, corns, bamboo shoots, sesame seeds, garment, footwear, plywood and veneer, broken rice and other commodities to Thailand. It imports capital goods such as machinery, raw industrial goods such as cement and fertilizers, and consumer goods such as cosmetics, edible vegetable oil and food products from the neighbouring country. Myanmar is carrying out border trade with the neighbouring country Thailand through Tachilek, Myawady, Myeik, Mawtaung, Hteekhee, Kawthoung and Maese border areas respectively. Among them, Hteekhee performed the most extensive trade in border trade with Thailand, followed by Myawady. Nevertheless, the surge in coronavirus cases in Myanmar led Thailand to close the border areas. Consequently, the trade via land border sharply fell in the current FY 2020-2021. Apart from its leading trade partner China, Myanmar’s external trade was mostly carried out with the regional trade partners. Trade with countries in the European Union, however, remained uncompetitive, compared with regional trade partners. – Ko Htet (Translated by Ei Myat Mon)
The value of Myanmar’s bilateral trade with neighbouring country Thailand in maritime trade and border trade was estimated at US$18.865 billion in the past four financial years, the statistics issued by the Central Statistical Organization under the Ministry of Planning, Finance and Industry indicated. The ministry reported that exports surpassed imports in trade with Thailand in the past four years, with exports reaching over $10.731 billion and imports valued at over $8.13 billion. Between 2016-2017FY and 2019-2020 (as of August), Thailand has been Myanmar’s largest trade partner among the ASEAN states, followed by Singapore and Malaysia. Thailand accounted for 14.45 pc of total trade in 2016-2017FY with an estimated trade value of US$4.6 billion, 15.54 pc in 2017-2018FY with a trade value of $5.57 billion, 15.55 pc in 2018-2019FY with $5.46 billion and 13.92 pc in 2019-2020FY (Oct-April) with $3.15 billion respectively. -
The transport and communications sectors topped the foreign direct investments (FDI) line-up over the past four years of incumbent government period
Under the Myanmar Investment Law, transport and communications sector tops the foreign investment line-up over the four years of incumbent government period, bringing in the capital of US$6.135 billion, according to the Directorate of Investment and Company Administration (DICA). The quantum of investment in transport and communications sector is higher than in any other sectors, attracting 29 enterprises. Between the 2016-2017 and 2019-2020 budget years, the manufacturing sector has absorbed FDI of $6.13 billion from 706 projects. Real estate sector has attracted $3.6 billion from 29 projects. The power sector has drawn 19 foreign investment projects worth $3.17 billion. Twenty-four projects worth $725.9 million has been approved in the hotels and tourism sector, while the existing enterprises increased the investments of $363 million in the oil and gas sector. The livestock and fisheries sector has pulled in an investment of $452.68 million from 36 foreign enterprises. -
Myanmar Investment Commission (MIC) approved five more investment enterprises which will be created 688 job opportunities
Myanmar Investment Commission (MIC) recently approved five more investment enterprises in the country, local media quoted the Directorate of Investment and Company Administration (DICA) as saying Xinhua reported. The commission approved operation of new enterprises and increasing investment capital amount by the existing enterprises. -
Ministry of Commerce increased trade service charges when Myanmar Tradenet 2.0 officially launched on 1 November
The Ministry of Commerce will scale up the trade service fees when Myanmar Tradenet 2.0 will be officially launched on 1 November. To facilitate the National Single Window, have a single entry in trading and digitize the licencing system and related businesses, the Trade Department under the Ministry of Commerce will officially launch Myanmar Tradenet 2.0 portal on 1 November. The first one is to sign up Myanmar Tradenet member, and export/import and related business licences will be carried out digitally. -
Yangon Region Tourism Committee endorsed over K 8 billion worth hotel projects which will be created over 1,300 job opportunities
Yangon Region Tourism Committee gave the green light to hotel businesses with an estimated capital of over K8 billion, according to the regional tourism committee’s meeting 6/2020. The regional committee held a videoconference on 27 October and Yangon Region Chief Minister U Phyo Min Thein, in his capacity as chair of regional tourism committee, attended the meeting along with other committee members. The committee has granted licences to two hotels with 75 rooms, and one hotel construction permit, bringing in the capital of K8,215 million. Those hotel businesses are domestic investments to create local job opportunities. As per the regional tourism committee meetings 1/2020 to 6/202, the local tourism committee has issued licences to 22 hotels with 1,570 rooms, four guesthouses, and construction permits to 14 hotels and two guesthouses. Meanwhile, the committee has also given grants to 291 inbound tours. The total capital for hotels and guesthouses is estimated at K89,165 million and US$38.865 million. The endorsed projects have created over 1,300 jobs. -
Ministry of Commerce called for the precautions to mitigate the impact on trade of the pandemic in 2020 – 2021 financial year
Even though the country’s trade seems to be mildly impacted by the COVID-19 last fiscal year, the Union Minister of the Ministry of Commerce has called for precautions to mitigate the impact of the pandemic in the 2020-2021 Fiscal Year as there are more possibilities of the impact. “We can assume that there was a mild impact on the trade by the COVID-19, but we need to prepare for 2020-2021 because there are possibilities,” Dr. Than Myint, the Union Minister for the Commerce, said during the Cooperation Meeting held online on October 29.
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