ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  The Asia Foundation was made an explanation of Myanmar Business Environmental Index (MBEI) survey findings in Nay Pyi Taw

  An explanation of Myanmar Business Environment Index (MBEI) survey findings conducted by Asia Foundation was made at Ministry of Commerce assembly hall in Nay Pyi Taw yesterday morning. At the event Union Minister Dr. Than Myint said the MBEI survey findings will allow systematic comparison of the practice of regional administration in states and regions and will also allow investors to understand more about the regional investment environment. The survey findings will give an opportunity to understand and reform the difficulties and obstacles affecting Myanmar economic environment at the regional level and thus it will be very useful for Myanmar said the Union Minister.
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  Sea Lion inaugurated USD $ 10 million worth new Distribution Solutions Centre in Yangon to improve supply chain efficiency and fulfill rising and changing demands of customers in Kyan Sitt Thar Industrial Zone, South Dagon Township

  Sea Lion , which provides services in healthcare, biomedical, life science, technical education and industrial automation in Myanmar, yesterday opened a Distribution Solutions Centre worth US$10 million to improve supply chain efficiency and to and to fulfill rising and changing demands of customers in Kyan Sitt Thar Industrial Zone, South Dagon Township, Yangon. Spanning over 6,870 square meters in a total land area of 8.7 acres, the facility is expected to be among the best in providing storage and logistics solutions for the full range of capital medical equipment and implantable devices, medical consumables, and pharmaceutical products, said Dr U Win Zaw Aung, managing director of Sea Lion. Designed by Civil Tech International Co Ltd of Thailand, the facility, which took 13 months to complete, is equipped to offer efficient supply chain solutions in climate-controlled warehousing, online inventory management, and nationwide distribution services for all customers.
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  European Union increased education budget allowance to USD$ 252 million to get better quality education for all students in Myanmar

  The education budget support programme of the European Union (EU) in Myanmar was launched on March 21 in the capital city. The EU’s support will contribute to equal access to better quality education for all students in Myanmar with US$252 million (more than K380 billion). At the ceremony, education minister U Myo Thein Gyi said the grant signals that the EU “shares our Government’s ambition to dramatically improve the education outcomes in Myanmar.” “Education is the best possible investment in our country’s democratic federal future. Since 2016, the Government has significantly increased budget allowance for the education sector every fiscal year. So, the EU support will also supplement the Government’s investment in education,” the minister said. Ambassador Kristian Schmidt reiterated the EU’s strong commitment to support education reforms, saying that “we believe youth in Myanmar deserves better schools and training to free their potential.”
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  Japanese and Chinese government have signed the agreements to buy gum sterculia from Myanmar

  The Japanese and Chinese governments have signed agreements to buy gum sterculia from Myanmar. The agreements were signed in Myaing township, Magway Region, on March 9. Gum sterculia, also known as gum karaya or Indian gum tragacanth, is a vegetable gum produced by trees of the genus Sterculia. The gum is used as a thickener and emulsifier in foods, as a laxative, and as a denture adhesive. Locally, the gum is known as say kalarma. Primary buyers of the gum are China, Japan, Taiwan. “Last year, three or four Chinese came to the area to buy the gum in cash. As the deal was unofficial, the prices and quantities were not significant. It is hoped that the government-to-government trade agreement will be more lucrative,” said Myaing Hluttaw MP U Thet Naing. The trees that produce the gum are a perennial species and farmers don’t need much capital to enter the market. At present, the trees are not grown widely and the market is not strong. As such, proper cultivation methods will have to be introduced to boost production, U Thet Naing said.
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  Border trade between Myanmar and Thailand reached USD $ 1.4 billion in the first half of 2018- 2019 fiscal years

  Border trade between Myanmar and Thailand totaled about 1.4 billion U.S. dollars in the first half of fiscal year (FY) 2018-2019 which started in October last year, according to the figures from Myanmar's Ministry of Commerce Saturday. The country's export to neighbouring Thailand reached 985.8 million U.S. dollars while its import shared 412.9 million U.S. dollars. Myanmar carries out border trade with Thailand mainly through Tachilek, Myawady, Kawthoung, Myeik, Hteekhee, Mawtaung and Maese border checkpoints.
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  Mandalay International Trade Fair & Business Forum 2019 was held in Mandalay to boost trading sectors and investment enterprises in Mandalay

  The inauguration of the Mandalay International Trade Fair & Business Forum 2019 was held, yesterday, at the Mandalay Convention Centre (MCC), Mandalay Region. The event took place with the aim of boosting trading sectors and investment enterprises in the region. First, the Mandalay International Trade Fair & Business Forum 2019 was opened with the performance of MRCCI Theme Song and cultural dances by the ethnic races. Union Minister for Commerce Dr. Than Myint, Union Minister for Industry U Khin Maung Cho, Mandalay Region Chief Minister Dr. Zaw Myint Maung, the Regional Minister for Planning and Finance U Myat Thu, Mandalay Mayor Dr. Ye Lwin, UMFCCI President U Zaw Min Win, Honorary Chair of Mandalay Region Chambers of Commerce and Industry U Aung Win Khaing, Mandalay Region Chamber of Commerce and Industry (MRCCI) Chairman U Kyaw Min and Mandalay Region Young Entrepreneurs Association – MRYEA Daw Thin Thin Kyaw opened the Mandalay International Trade Fair & Business Forum 2019 by cutting the ceremonial ribbons.
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  Yoma Bank provided unsecured SME loans to Kargo, a local online goods delivery service app to assist the firm’s growth

  Kargo, a local online goods delivery service app, and Yoma Bank have signed an SME loan agreement where the bank will finance an initial loan of K200 million (US$130,000) to assist the firm’s growth, according to a release on Thursday. “With Yoma Bank’s support we will be able to fuel our growth, business growth and drivers’ income, as we seek to realize our vision to provide quality trucking logistics solutions that are priced fairly for both the consumer and driver,” said Alex Wicks, founder and CEO of Kargo. The loan is aimed at resolving the common problem among small and medium-sized enterprises (SMEs) of cash flow management especially for those which provide services to multinational firms and will be based on Kargo’s accounts receivable. It also aligns with Yoma Bank’s strategy to support the growth of Myanmar’s SMEs.
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  Joint venture with Security Company in Myanmar, Former Blackwater contractor will be provided international standard security services for international investors in Myanmar

  YANGON — A security firm with former US military contractor Mr Erik Prince on its board has moved into Myanmar to provide protection services for international investors, the company told AFP, as it weathers backlash to revelations over planned work in China's restive Xinjiang region. Hong Kong-headquartered Frontier Services Group specialises in providing security and logistics for firms working in risky and conflict-hit regions. One of the company's board members and its deputy chairman is former Navy SEAL Prince, co-founder of notorious private security firm Blackwater and the brother of US Education Secretary Ms Betsy DeVos. Employees of Blackwater, which was later renamed, played a controversial role during Washington's wars in Iraq and Afghanistan, including the 2007 killing of 14 unarmed Iraqi civilians.
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  Government has dropped fines for illegal fish and prawn ponds to Ks 30,000 per acre

  The government has dropped the K1 million fine for illegal fish and prawn ponds to K30,000. Paying the fine will make the ponds legal, according to Dr. Aung Thu, Union Minister of Agriculture, Livestock and Irrigation. He remarked on the subject during a seminar on the development of the fish farming industry, held at the Myanmar Fisheries Federation in Yangon in February. “We have decided to impose a fine of only K30,000 on illegal fish breeding ponds that already exist. If you want to have a new fish or prawn breeding ponds, you will need to apply for a permit at the fisheries department,” he said. In October 2018, the Mandalay Regional Government announced that it will fine fishery ponds built on farmland an amount equal to one million kyats, but Dr. Aung Thu promised that he will help negotiate between the two parties: fish breeders and the regional governments.
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  Chin State government encouraged farmers to harvest the corps on permanent farm land by using modern upland cultivation and slopping land technologies

  The Chin State Government aims to reduce and eventually put a stop to shifting cultivation, said Mang Hen Dal, state minister for agriculture, livestock, forestry and mines. Shifting cultivation is an agricultural system in which plots of land are cultivated temporarily and later abandoned to allow the lands to revert to their natural vegetation. Meanwhile, the cultivator moves on to another plot. The main disadvantages of shifting cultivation are forest decimation and climate change. The areas are also prone to landslides and floods. Meanwhile, the cost of cultivation is also higher for farmers. The state government is now encouraging farmers to harvest their crops on permanent farm land using modern upland cultivation and slopping agriculture land technologies, Mang Hen Dal said.