ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  In coordination with US based agricultural experts, Ministry of Agriculture, Livestock and Irrigation will control new agricultural pest called fall armyworm

  U.S.-based agricultural experts were in Myanmar last week working with the Ministry of Agriculture, Livestock, and Irrigation (MOALI) and farming communities to mitigate the spread of a new agricultural pest called Fall Armyworm, which has the potential to dramatically reduce maize crop production in Myanmar. The U.S. Agency for International Development (USAID) brought eight experts from Michigan State University to Nay Pyi Taw to conduct a two-day workshop with MOALI to discuss mitigation strategies with agribusiness representatives, NGO’s, CSOs, and national and local-level government officials. The Michigan State team and officials from the MOALI Plant Protection Division and Department of Agricultural Research conducted field assessments with farmers whose crops have been hardest hit by Fall Armyworm in the Nyaungdone, Danuphyu, and Hintada townships of the Delta Region. “The Myanmar government asked us for help to assess and advise on how to mitigate crop losses due to this agricultural pest, which is new to Myanmar. We are happy to be able to help,”Ambassador Scot Marciel said at the workshop.
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  Myanmar real estate service law will be enacted within three months which can provide stability to land prices and protect buyers and agents

  The Pyidaungsu Hluttaw will approve a real estate service law within three months, said U Tin Maung Win, chair of Transport, Communication and Construction Committee at Myanmar Real Estate Services Association annual meeting on March 23. “Although some have said that it is too early, the law will be enacted within three months if it is carried out now. Such a law is needed here as it is already in place in other countries,” he said. The Myanmar Real Estate Services Association has signed an agreement linking its economy with other ASEAN countries. As foreigners are also involved in the local real estate market, an exact law is needed to regulate real estate services in Myanmar, said U Tin Maung Win. If a Myanmar real estate service law is in place, it can provide stability to land prices and protect buyers and agents. It can reduce wrong decisions in the sale of properties and foreign investors can enter the real estate market, said experts.
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  Myanmar Micro, Small and Medium Enterprises Qualitative Study Report 2018 was launched in Nay Pyi Taw in order to develop a strong policy for the country’s economic development

  Launching Ceremony of the Myanmar Micro, Small and Medium Enterprises Qualitative Study Report (2018) was held in Nay Pyi Taw on 26th March. Deputy Minister for Planning and Finance U Set Aung gave the opening speech, followed by Danish Ambassador to Myanmar Mr. John Nielsen. The Outline and objectives of MSME Survey (2018), key results, conclusion and outcome of the Qualitative Study and the Outline and Objectives of SAM, as well as the brief overview and findings of four in-depth studies were also explained by the concerned officials. The survey was conducted with the support of Denmark Government from March to October 2018. It focused on manufacturing sector including garment industries, timber extraction, and foodstuff production.
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  Department of Civil Aviation (DCA) will conduct a field study on the construction of Hantharwady International Airport in Bago Region

  The Department of Civil Aviation (DCA) will conduct a field study on the construction of Hantharwady International Airport in Bago, according to deputy director U Zaw Min on March 21, during a meeting on crop compensation for farmers living within the vicinity of the project site. The US$1.5 billion project will be fully funded by Japan, which is now making its fifth attempt to revive the project, U Zaw Min said. The two governments are scheduled to meet next month with regards to kick starting the project. “After the meeting, we expect to start conducting preliminary ground studies at the site of the airport,” he said. As such, in addition to compensating farmers, appeals to remove squatters living in the area have been sent to the regional government.
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  The import value from 1 October 2018 to 15 March 2019 declined USD $ 511 million when compared to the same period of last fiscal year

  The value of imports between 1 October, 2018 and 15 March, 2019 during the current fiscal year stood at US$8.14 billion, which declined by $511 million from the corresponding period in the last FY, according to data released by the Ministry of Commerce, state media reported. Over the past five and half months, import values in the private sector were $502 million less than in the last FY, while the public sector witnessed a small increase.
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  Norwegian Power company signed a MOU with the Chin State Government to make USD $ 50 million of investment for a new hydroelectric power plant in Chin State

  Norway Power Company Limited signed an MoU with the Chin State government to make a $50 million of investment for a new hydroelectric power plant. Chin State’s infrastructure can’t provide enough electricity for the present demand. The state also happens to be one of the least developed states in Myanmar. Therefore the government is trying to work with the private sector to provide enough electricity. “What Chin State needs most is better transportation and electricity. We need to produce electricity through potential hydropower resources, and upgrade existing infrastructure in our power grid so that we can provide enough electricity to local people. Only after these sectors improve will other sectors in Chin State improve,”said U Salai Lian Lwe, Chief Minister of Chin State. Only five townships out of nine townships in Chin State are electrified. The five townships are: Kanpetlet, Hakha, Felam, Thantlang, and Mindat. The remaining four townships, Tedim, Tonzang, Matupi, and Palatwa, have yet to be connected to the grid.
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  Central Bank of Myanmar (CBM) again issued the instructions covering five directives on banking governance and statistics to banks which will strengthen the country’s financial sector

  The Central Bank of Myanmar has reiterated its commitments to ensuring stronger enforcement of banking rules and regulations in the country. On March 25, the CBM again issued instructions covering five directives on banking governance and statistics. To strengthen the country’s financial sector, Financial Institutions Law was introduced January 2016. CBM has now five detailed directives to banks covering related-party transactions, regulations that bank director shall follow, appropriate standards for bank directors and senior officials, having internationally recognised external auditor, and acquisitions of substantial interests. “The regulations are included in the Financial Institutions Law, but the law doesn’t stipulate specifically how the regulations are to be followed. That is why we have issued instructions for banks to follow in detail. The purpose is to strengthen banks’ corporate governance,” said Central Bank of Myanmar Deputy Governor 1 U Soe Thein.
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  U Thaung Tun led delegates highlighted the reforms which is being carried in politics and the economy particularly in the education sector to pitch the interest of potential UK investors

  Myanmar delegates discussed education, banking, and energy with the British Government and British businesses at the Myanmar Trade and Investment Conference 2019 held in London on March 18, according to the Ministry of Foreign Affairs (MOFA). The delegates also touched on the opportunities for growth and partnership in sectors such as construction, telecommunications, tourism, manufacturing and natural resources, according to MOFA. The conference, organised by the Department for International Trade, British Chamber of Commerce and UK-ASEAN Business Council, was attended by U Thaung Tun, who is Minister of Investment and Foreign Economic Relations and chair of Myanmar Investment Commission. U Set Aung, Deputy Minister of Planning and U Bo Bo Nge, deputy governor of the Central Bank of Myanmar, were also present.
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  Investors will be invited to cooperate with government in gas exploring and developing LPG and CNG businesses in order to improve the electricity sector

  Investors will be invited to boost gas exploration as well as LPG and CNG businesses, said Union Minister Win Khaing for Electricity and Energy. He said investment in such businesses would help improve Myanmar's electricity sector. "To improve the electricity sector, we will invite investors to cooperate with us in exploring gas and developing LPG and CNG businesses and factories as well as solar energy," said the minister. According to sources from the Ministry of Electricity and Energy, tenders will soon be opened to operate 33 oil and gas blocks—15 offshore blocks and 18 onshore blocks.
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  Myanmar Investment Committee (MIC) permitted 109 foreign investments from October last year to as of February of current 2018- 2019 fiscal year

  Myanmar Investment Committee (MIC) permitted 109 foreign investments as of February in present fiscal year 2018-2019 which started in October last year, according to the Directorate of Investment and Company Administration, Xinhua reported. From October, 2018 to February this year, over 1.7 billion U.S. dollars' investments from the permitted projects entered the country. During the period, manufacturing sector topped the list with over 520 million U.S. dollars' investments from 79 projects, the figures said.