ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Microfinance Supervisory Committee (MSC) will be forced collection of loans by microfinance firms to face legal action

  Microfinance Supervisory Committee (MSC) will take legal action against the microfinance institutions if they forcibly collect loans in the pandemic period, according to the committee’s announcement released on 13 October. The committee also announced that the microfinance businesses should not forcibly collect the loans plus interests when the members’ businesses and income are lower in the pandemic period, and they should only negotiate the date of repayment of the loans and interests. The committee has also announced that if the members are forcibly asked to return the loans and interest, they are entitled to complain to the committee in detail mentioning the contact phone number or address. The committee will take legal action against the microfinance institutions under the Microfinance Law.
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  Over 250 Cutting, Manufacturing and Packaging (CMP) factories at Hlintharyar and Shwe Linban Industrial Zones are reopened and started its operation regularly

  Officials from Hlinetharyar and Shwe Linban industrial zones administrative committee said that over 250 ‘Cutting, Manufacturing, Packaging’ (CMP) factories had been reopened in their zones. The government allowed reopening of CMP factories which had passed Grade A and B criteria and regulations imposed by the Ministry of Health for containment and control of COVID-19 and then these factories were reopened on October 12.
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  Yangon Region Investment Committee (YRIC) approved the USD $ 6.904 million worth foreign investments from Vietnam, South Korea and China

  The Yangon Region Investment Committee (YRIC), at a videoconference held on 14 October, has endorsed three foreign projects from Viet Nam, Republic of Korea and China. Those projects are to be brought in an estimated capital of US$6.904 million. Those enterprises will create 2,279 jobs. They will execute manufacturing of bags and garments on a Cutting, Making, and Packing (CMP) basis, and production and distribution of iron, steel and galvanised iron and building materials, according to the Directorate of Investment and Company Administration (Yangon Region), YRIC stated. The Yangon Region Investment Committee (YRIC) has endorsed over 130 foreign investment projects with an estimated value of over $280 million in the last financial year 2019-2020, according to the Directorate of Investment and Company Administration.
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  The transportation cost for commodities from Shan – Yangon increased double amidst COVID – 19 resurgence

  The transport cost for commodities from Shan State to Yangon Region has increased more than double amid the coronavirus crisis, said U Kyaw Thu, secretary of the Myanmar Fruit, Flower and Vegetable Producer and Exporter Association (MFVP). At present, the truck fare rates remarkably soar to K1.6 million from the previous rate of K600,000-650,000, he continued. “We can steadily transport the goods at the previous rate of K600,000-650,000. Now, the truck drivers are price markers,” he stressed. Following the double increase rate, only 20 to 30 trucks are seen entering Thirimingala Market of Yangon in the recent days. “We see the entry of over 20 trucks only these days. Before the coronavirus outbreak and the period before the resurgence of coronavirus, hundreds of trucks are flowing into the region,” he stated. The vegetables such as tomato, cabbage, cauliflower, broccoli, bell pepper, eggplant, potato and onion are abundant in Shan State. However, the local products cannot easily be transported to the other regions owing to high truck fares and other transport difficulties. As a result, the commodity prices are so high for consumers, according to MFVP.
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  The feasibility test for oil refinery in Dawei SEZ delayed due to the COVID – 19 pandemics

  Feasibility test for an oil refinery, which can produce eight million tons of oil in a year, in Dawei SEZ is delayed due to COVID-19 pandemic, said Dr Tin Htoo Nanig, Secretary of Dawei SEZ Management Committee on October 13. “A Chinese company is conducting a feasibility test and it was expected to finish in the middle of this month but they cannot come. So they made contact with some organizations to conduct feasibility tests for them. After that, they will ask permission from us. They will analyze whether the project is beneficial or not and whether they can meet the market demand and labour availability or not. They will think of environmental and social impacts. We will make negotiations after that,” he said.
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  The Individual trades through land border exceeded J 43 billion in the last 2019 – 2020 financial year

  Trade conducted by Individual Trading Card (ITC) holders touched a low of K43 billion through the land border in the last financial year 2019-2020, according to the data released by the Ministry of Commerce. The trade value plunged from K59 billion registered in the FY2018-2019 as both export and import sharply fell in the last FY2019-2020. The Trade Department issued 88 cards in the October-September period of the FY2019-2020, and the cardholders conducted trade worth K43 billion. While imports exceeded K40 billion, exports were valued at just K3.25 billion. The Myawady border recorded the highest trade value at K28 billion in the last FY, according to the Commerce Ministry. But, the figure only reflected imports as individual trading cardholders did not export goods through the Myawady gate.
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  Myanmar’s mineral exports increased USD $ 1.87 billion in the last 2019 – 2020 financial year

  Myanmar’s mineral exports have shown a marked increase, touching US$1.87 billion in the past financial year 2019-2020, an increase of $405.48 million compared with the year-ago period, according to the data from the Ministry of Commerce. In the corresponding period of the FY2018-2019, mineral exports were pegged at just $1.465 billion. Both private and public sector mineral exports have recorded an increase in the current FY, with private sector exports valued at $1.35 billion and public sector exports estimated at $520.6 7million. So far, excavation of over 1,250 mining blocks has been permitted on a manageable, small, medium, and large scale, according to the Ministry of Natural Resources and Environmental Conservation. Due to the limited extraction of natural resources, exports of forest products and minerals had dropped significantly in the previous years. Permits for mining blocks were suspended in 2016, but after a period of two years, Myanmar’s mining sector has now been opened to local and foreign investors, according to the ministry. Within two years of the implementation of the Myanmar Mines Law, the Mines Department has approved more than 140 out of 3,000 proposed mining blocks, and many more blocks are to be granted the permit. At present, evaluation teams in Kachin, Kayah, Shan, and Kayin states and Sagaing, Taninthayi, and Magway regions are screening mining applications, based on the opinions of the respective departments and the region and state governments. The Myanmar Mines Law was enacted on 24 December 2015, but the law came into force when the rules were issued on 13 February 2018. The ministry undertakes the screening process of the proposals for medium and large-scale mining blocks. At the same time, regional and state governments are allowed to process applications for small-scale mining blocks.
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  Myanmar attracted nearly USD $ 5.7 billion of Foreign Direct Investment (FDIs) in 2019 – 2020 financial year

  In the financial year 2019-2020 which ends on September 30, US$5.689 billion of foreign direct investment has been pumped into Myanmar which is considered by many countries as the last frontier economy in Southeast Asia region, an increase of more than US$1 billion when compared to the same period last year, according to the latest figures updated by the country’s Ministry of Investment and Foreign Economic Relations. The Myanmar Investment Commission (MIC) tasked with evaluating, assessing and permitting the investment projects proposed by foreign firms and domestic companies gave the nod to 11 foreign investment projects in industry and real estate sector on September 29. The foreign investment proposals approved by the MIC are valued at over US$290 million and expected to create up to 8,744 job opportunities for Myanmar citizens. The foreign investment projects approved by the MIC from October 1 last year to September 30 this year under the Special Economic Zone Law were US$163.27 million. The MIC also gave the green light to 130 Myanmar citizen-invested projects valued at more than Ks1,535,075 million and US$267 million in the same period.
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  The value of trade between Myanmar and foreign countries exceeded over USD $ 36.6 billion in 2019 – 2020 fiscal year

  The total trade between Myanmar and foreign countries reached over 36.6 billion U.S. dollars in previous fiscal year (FY) 2019-2020 which ended on Sept. 30, according to figures released by the Commerce Ministry Xinhua reported. From Oct. 1, 2019 to Sept. 30 this year, Myanmar earned over 17.6 billion U.S. dollars from export while its imports reached over 19 billion U.S. dollars.
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  The export value of Myanmar through border trade decreased USD $ 66 million during 2019 – 2020 fiscal year

  The number of Myanmar’s exports to the neighbouring countries through border trade showed a decrease of US$66.57 million in the last financial year 2019-2020 compared with the FY2018-2019, resulted from the trade suspension and closure of border crossings as a precautionary restriction measure for the COVID-19. The export through border trade reached $7.152 billion in the FY2019-2020, which was slightly plunged from $7.219 billion in the FY2018-2019, the Ministry of Commerce’s trade data showed. Myanmar’s border trade totalled $10.58 billion in the FY2019-2020. As usual, Myanmar’s export outperformed import in border trade, with export worth $7.15 billion and import valued $3.42 million. Myanmar has opened 18 border posts between Myanmar and the neighbouring countries; with China through Muse, Lwejel, Chinshwehaw, Kampaiti and Kengtung, with Thailand through Myawady, Kawthoung, Myeik, Hteekhee, Tachilek, Mawtaung, Maese, with Bangladesh through Sittway and Maungtaw, with Laos through Kyaiklat and with India through Tamu, Reed and Thantlang.