ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Myanmar earned more than USD $ 160 million from CMP export sector during 1 October - 2 November 2018

  Myanmar earned US$160 million more from CMP export sector during more than a month period of this fiscal year, according to Ministry of Commerce. It earned US$1.274 billion from October 1 to November 2 in 2018-19 FY and received US$1.114 billion in the same period last year. Main export products from Myanmar are farming products, animal products, fishery products, forestry products, mining products, CMP and other materials. The garment industry is mainly included in CMP sector and other products included are shoes and bags.
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  Myanmar Automotive Group (MAG) and European Chamber of Commerce Myanmar (EuroCham) signed an agreement to cooperate on efforts to push for a stronger automotive industry in Myanmar

  The European Chamber of Commerce Myanmar (EuroCham) and local industry organisation Myanmar Automotive Group (MAG) have signed an agreement to cooperate on efforts to advocate for a stronger automotive industry in Myanmar. The agreement signed by EuroCham’s Automotive Advocacy Group and MAG last week is expected to work on suggestions for the government to help boost the country’s automotive sector. The signing ceremony also provided a platform to discuss the recent publication of the World’s Bank Ease of Doing Business Index and how it relates to Myanmar’s automotive sector. The main topics discussed at the event were the delays in the implementation of the Yangon Vehicle Quota (YVQ) system and the plight of vehicle importers.
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  Myanmar Credit Bureau Limited, a joint venture between Myanmar Bank Association and Singapore’s Asian Credit Bureau Holdings, will be operational in the next two years

  Having been granted a license on May 17 of this year, Myanmar Credit Bureau Limited, a joint venture between the Myanmar Bank Association and Singapore’s Asian Credit Bureau Holdings, will be operational in the next two years, U Soe Thein, Vice President of Central Bank of Myanmar, said. “It would be very beneficial if we have credit bureau. A credit bureau will be operational in the next two years. However, not having a bureau does not mean that financial services can’t lend,”he told Myanmar Business Today at the press conference at Central Bank. On November 8, Central Bank started allowing foreign banks and branches to provide wholesale financial services to local corporations the same as local banks do.
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  Myanmar’s breeders are being urged to increase production due to the high demand for striped catfish witnessing a growth in China and countries from the Middle East

  With the demand for striped catfish witnessing a growth in China and countries from the Middle East, breeders in Myanmar are being urged to increase production, according to the Myanmar Fisheries Federation (MFF). Myanmar’s striped catfish has now a great demand from China and the Middle East countries. Starting last month, Myanmar has shipped about 8 containers of striped catfish to China and about 14 containers to countries in the Middle East. At present, Myanmar is exporting scraped striped catfish meat and ready-to-eat products. Some Chinese companies want to purchase striped catfish skin, oil, and swim bladder. Striped catfish started to penetrate the export market last year. As demand for the fish has been growing significantly, the MFF has been urging fish farmers to increase area under striped catfish production in the past few months. As a result, the number of striped catfish farmers is estimated to have risen by 40 per cent, said U Zaw Lin.
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  The President has appointed U Thaung Tun as the Union Minister for the new Ministry of Investment and Foreign Economic Relations

  YANGON — Myanmar Investment Commission chair U Thaung Tun will lead a new Ministry for Investment and Foreign Economic Relations that will be formed from two existing departments, as parliamentarians ask whether another ministry is really needed. President U Win Myint announced Thaung Tun’s appointment and the formation of the new ministry on November 19. The investment ministry will take over the Directorate of Investment and Company Administration and the Foreign Economic Relations Department from the Ministry of Planning and Finance. Win Myint had informed parliament of his intention to create the ministry on November 12 and on November 15 nine representatives discussed its formation.
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  According to the 2019 Doing Business in Myanmar Report, Myanmar is at the bottom among the 10 ASEAN member countries in ease of doing business ranking

  Myanmar has been at the bottom of the list of 10 ASEAN countries in the ease of doing business ranking, according to a 2019 Doing Business in Myanmar report. The ease of doing business means reducing procedural steps, simplification, time and cost reduction in services provided by government departments for businesses. According to the Doing Business 2019 report, New Zealand is ranked first, followed by Singapore, Denmark, Hong Kong, Korea, Georgia and Norway. "Among ASEAN countries, Singapore and Malaysia are top tier. Other countries have also improved their rankings. Ironically, our country is ranked first in ASEAN countries if we look at the list from bottom to top. Our country is rich in natural resources. It is geographically strategic. Despite these sound conditions, the current situation is the lowest. This indicates that we must put more practical effort," said Aung Soe, director general of Myanmar Trade Promotion Board and secretary of Ease of Doing business Ranking Improvement Task Force.
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  A new glass melting furnace was opened in Kyaukse and has started operations: authorities expect to export to Vietnam and other ASEAN member countries

  A new glass melting furnace at No.36 Heavy Industry (Kyaukse) was inaugurated on 19 November. With the factory beginning operations, the authorities expect to amp up production of glass soon with a view to export it to Viet Nam and other ASEAN countries. Within 20 days of operation of the furnace, the factory manufactured 2,000 tons of 12-inch-wide glass and distributed it in the local market. The authorities have entered into discussions to export glass from the factory to Viet Nam soon. They are also planning to export the glass to ASEAN countries. The inauguration ceremony was attended by the Union Minister for Industry, U Khin Maung Cho, the Deputy Minister for Natural Resources and Environmental Conservation, Dr. Ye Myint Swe, Mandalay Region’s Minister for Agriculture, Livestock, and Irrigation, Dr. Soe Than, International Glass Co. Ltd.’s Managing Director U Zaw Win, and officials from the Industry Ministry.
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  In October 2018, Myanmar’s stock trading value saw a sharp drop of over Ks 174 millions (USD $ 112,469) when compared to September 2018

  YANGON, Nov. 6 -- Stock trading value on Myanmar's Yangon Stock Exchange (YSX) registered 780.3 million kyats (503,440 U.S. dollars) from trading of 184,812 shares in October, seeing a sharp drop of over 174 million kyats (112,469 U.S. dollars) compared to the September's, according to the monthly figures from the YSX on Tuesday. On September alone, stock trading value of five listed companies showed 954.7 million kyats (615,910 U.S. dollars) from trading 218,595 shares. Stock trading value on YSX continued drop for two consecutive months since August when it was recorded at 1.5 billion kyats (967,741 U.S. dollars).
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  Yangon Aerodrome Company Ltd (YACL) is working with government authorities to attract European tourists as growth slows

  Yangon Aerodrome Company Ltd (YACL) is in negotiations with Lufthansa for the German airline to operate a direct flight between Frankfurt and Yangon. The move is part of efforts to lure European visitors back to Myanmar, Mr. Jose Angeja, chief operating officer of YACL, told The Myanmar Times on November 15 during a press conference at the Yangon International Airport (YIA). “We have been in conservation with Lufthansa for at least nine months. It’s taking some time because they also need to understand the Myanmar market,” Mr Angeja said. He added that negotiations are likely to result in a stopover flight from Frankfurt at a Vietnamese city, as the number of passengers for a direct flight to Yangon is still insufficient to justify the costs. On November 1, the Italian airline Neos Spa began operating a scheduled Boeing 767 flight from Milan to Yangon every Wednesday. The flight will stop over in Phu Quoc, Vietnam before landing at Yangon International Airport. Neos is first airline to fly from Europe to Myanmar.
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  Myanmar is attracting more foreign investments in three sectors: hotels and tourism, industry and housing development in 2017- 2018 fiscal years

  More foreign investments entered industry, hotel and tourism and housing development sectors in 2017-18 FY and due to insufficient electricity supply, expensive transportation costs, rare skilled workers and difficulties obtaining land for long term investment are setbacks to attracting more foreign investments, according to Investment Report of 2017-18 FY released by Myanmar Investment Commission (MIC). The report said more foreign investments entered Myanmar as it set priority sector for foreign investment, announced instructions to facilitate investment in line with the time and negotiated between government departments for the investment. Investments from China, Hong Kong, South Korea, Japan and Asean countries such as Singapore, Thailand, Vietnam and Malaysia are mainly made. Establishment of new investment is slower in this year due to the United States and China tension in business sector. Asean countries including Myanmar are facing the difficulties, it said.