ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Micro, Small and Medium Enterprises Development Work Committee (MSMEDWC) was held the committee meeting in Nay Pyi Taw to effectively support on MSME’s manufacturing, services and trade works

  The Micro, Small and Medium Enterprises Development Work Committee (MSMEDWC) Chairman Vice President U Myint Swe addressed the committee’s meeting 1/2019 held at the Ministry of Industry in Nay Pyi Taw yesterday afternoon. In addressing the meeting the Vice President said the day’s meeting was the fourth meeting of MSMEDWC. To effectively support MSME’s manufacturing, services and trade works a 24-member Micro, Small and Medium Enterprises Development Central Committee (MSMEDCC) was formed on 7 June 2016 with 11 duties and responsibilities. In order to effectively implement and conduct its duties and responsibilities MSMEDCC formed MSME Development Work Review, Coordination and Implementation Group, MSME Development Agency and MSME Development Fund Management Group. Furthermore regional agencies were formed in Nay Pyi Taw Council, States and Regions and four self-administered division and zones of Wa, Naga, Danu and PaO while two more in the remaining self-administered zones of Palaung and Kokang would soon be formed.
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  Hydropower production in Myanmar was decreased in April as there is no perfect solution to the issue of energy production

  There is no perfect solution to the issue of energy production. Each type of energy source has unique challenges, and therein lies the challenge for Myanmar. Fossil fuels pollute the environment with carbon dioxide, methane, nitrogen and particulates into the atmosphere. Solar panels are inefficient, dependent on sunny weather, and lack sufficient storage capabilities. The batteries they require to store solar energy are also very bad for the environment. Wind turbines are inconsistent, a danger to birds, noisy, and some people consider them to be an eyesore. Hydropower is plagued with land rights use, and even impact wildlife. As we have seen in the last few weeks, hydropower can also have problems with a lack of water. The total power generated in Myanmar from hydropower plants during March was 2,200 megawatts, but this decreased to 1,970 megawatts per day in late April. Dr. Tun Khaing, the Deputy Minister of the Ministry of Electricity and Energy, explained why.
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  Enishi Co., Ltd gave an offer to Myanmar Shwe Phyu Company for purchase of Myanmar’s Sterculia versicolor gum to Japan

  Gum of Sterculia versicolor has been used across the world for some 100 years. In early 20th Century, Sterculia versicolor gum was used on a wider scale due to ingredient of it in tragacanth gum. Sterculia versicolor gum contains usable chemical properties more than tragacanth gum. The World Food Organization recognized Sterculia versicolor gum as a supplementary food under E-416 in 1911. Sterculia versicolor plants originally thrive in India, Myanmar and Sri Lanka. Now, Senegal, Pakistan, Sudan, Australia, Panama, the Philippines, Indonesia and Viet Nam also grow Sterculia versicolor plants. Global countries produce some 5,500 tons of Sterculia versicolor gum on a yearly basis, meeting a one-third of the world’s total demand. Among the grower countries, India is top in the yield and export of the gum.
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  Ministry of Investment and Foreign Economic Relations pledged to strengthen investment facilitation in related ministries

  The Ministry of Investment and Foreign Economic Relations has pledged to strengthen investment facilitation in related ministries. Speaking at a training workshop in Nay Pyi Taw, U Aung Naing Oo, the ministry’s permanent secretary, stressed the importance of investment facilitation and the role of all investment-facing government agencies in the process. “Investment promotion and facilitation are two sides of the same coin. In particular, without facilitation, there will be no effective investment promotion,” he said. “The Myanmar Sustainable Development Plan highlights the importance of investment in enhancing socio-economic development, reducing poverty and creating employment. Facilitation, involving coordination, harmonisation and synchronisation, is critical to achieve our investment attraction plans and targets.”
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  CMP export volume reached more than USD $ 1,300 million in almost seven months which is up more than USD $ 1,200 million when compared to the same period of last year

  CMP export volume reached more than US$ 1,300 million in almost seven months in a row , up more than US$ 1,200 million compared to that of the same period of last year, according to the statistics of the Ministry of Commerce. CMP export volume reached more than US$ 5.248 billion from October 1 to April 26 in 2018-2019 FY, up 1,389.186 million compared to that of the same period of last year. CMP export volume reached more than US$ 3.895 billion the previous year. The figure showed an increase in CMP export in almost seven months.
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  Myanmar Tourism Bank was opened its first branch in Yangon in order to support for the development of the tourism sector with low interest and long-term loans

  Myanmar Tourism Bank was opened with an investment of 22 billion Kyats with the permission of the Central Myanmar Bank of Myanmar. Myanmar Tourism Bank holds the full commercial license in 2018 in order to support for the development of the Tourism sector, founded by public tourism industry. It will offer low interest and long-term loans for tourism sector. Director General, Financial Institutions Supervision Dept. (Central Bank of Myanmar), Than Than Swe said “Myanmar Tourism Bank is to support financing for tourism industry promotion and to encourage the use of local currency in cross border tourism sector. Central Bank is supporting every sector to promote the country’s economy. We will monitor the Myanmar Tourism Bank every week and every month. We have plans to give permission to more foreign banks.” Currently, 27 local banks and 13 foreign banks are operating in Myanmar. 26 shareholders from tourism industry invested in Myanmar Tourism Bank as an initial stage. The Myanmar Tourism bank will support the 5% of the annual profit to the ministry and for the tourism industry development, the chairman said.
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  Asani Yangon International Terminal is developing a container terminal in Ahlone Township as trade volumes expected to rise in the coming years

  Adani Yangon International Terminal is developing a container terminal in Ahlone township, which is by the Yangon River, in anticipation of higher trade volumes in the coming years. The company, which is registered in Myanmar and incorporated in Singapore, received approval from the Myanmar Investment Commission on April 26 to develop, operate and maintain the Ahlone International Port Terminal (2) (AIPT) under a 50-year Build, Operate and Transfer agreement with the government, according to the Directorate of Investment and Company Administration (DICA). AIPT (2) will be developed across 50 acres of land owned by Myanmar Economic Corporation, which is currently operating AIPT (1), according to DICA. The company will enjoy income tax incentives for the first three years of operations, said Daw Mya Sandar, director of DICA. Construction of the US$290 million port, which will be built from scratch, is expected to begin in September. Phase 1 of development will involve enough capacity to handle between 100,000 and 150,000 twenty-foot equivalent units (TEU), or twenty-foot containers, when it is completed within the targeted 12 months.
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  Local retailer communities urged government for more regulation in retail sector to protect local retailers before allowing foreign companies to compete in the local market

  As foreign retailers enter the domestic market, the government should work to ensure a level playing field, said local retailers. During the Private Sector Development Committee meeting with President U Myint Swe on April 27, Daw Su Hlaing , Secretry of Myanmar Retailers Association, voiced concern for the survival of local retailers in the face of foreign competition. She said the government should have a plan to protect local retailers before allowing foreign companies to compete in the market, adding that local companies face challenges such as a lack of funds, high interest rates and expensive rental, making it hard for them stay profitable. In comparison, foreign retailers enjoy many incentives under the Myanmar Investment Law that make it easier for them to do business in the country, she said.
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  Government will collaborate with local and foreign associations to draft a new framework for rating system in order to raise the standard and quality of the local hotel industry in Myanmar

  The government will collaborate with local and foreign associations to draft a new framework for rating local hotels. According to the Ministry of Hotels and Tourism, the rating system is being built with the goal to attract more tourists. “As a first step, the government has already formed a group with local associations to draft a star rating framework for hotels, the group will be chaired by the Myanmar Hotelier Association with members from Myanmar Tourism Federation, Foreign Investment Hotels Association and Myanmar Market Development Association, and with World Travel Organization,” said U Myo Win Nyunt, Director of Hotels and Tourism Supervising Department.
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  Myanmar’s overseas trade reached at USD $ 19.9 billion as of 26 April of this 2018 – 2019 fiscal year which is up nearly USD$ 700 million when compared to the same period of last fiscal year

  Myanmar’s overseas trade stood at US$19.9 billion as of 26 April this 2018-2019 Fiscal Year, up by nearly $700 million from that of the corresponding period last 2017-2018 FY, when the country’s external trade totalled $19.2 million, state media reported. During seven months, the country’s export of domestic products topped $9.6 billion, whereas its imports of foreign goods exceeded $10.3 billion, resulting in a trade deficit of $700 million, which decreased by over $1.7 billion, as against the same time last FY, when Myanmar recorded a trade deficit of $2.4 billion.