ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  According to the survey of Singapore Business Federation (SBF), Singaporean companies are planning to expand into ASEAN member countries including Myanmar in the next two years, with its growth potential and overall investment climate

  Singapore companies have big plans to expand in ASEAN over the next two years and Myanmar, with its growth potential and overall investment climate, is on the cards for many, according to a recent survey by the Singapore Business Federation (SBF). The survey, conducted from December 2017 to March 2018, collected views from 1036 Singapore companies across all major industries. Of those surveyed, 70 percent have overseas operations, of which 75pc is in ASEAN. Currently, Malaysia, Indonesia, Thailand, Vietnam and the Philippines are the top five ASEAN sources of revenue for most Singapore firms. Over the next two years though, Singapore companies have identified Myanmar as one of the top five priority markets to enter, with 26pc of those with plans to expand in ASEAN targeting expansion in Myanmar.
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  Myanmar shoppers spend USD $ 90,000 worth of goods in the first hour of Alibaba Group’s “11.11” of its first-ever online sale aimed at Myanmar shoppers

  YANGON—The local unit of Chinese e-commerce giant Alibaba Group sold over $90,000 worth of goods in the first hour of its first-ever online sale aimed at Myanmar shoppers on Sunday. The local version of Alibaba’s global “11.11” online sale was conducted by Myanmar’s biggest online shopping platform, SHOP.com.mm. SHOP said in a statement that over 1,500 orders were placed in the first hour, most of them via mobile phones. The company offered discounts on 50,000 items, and over 150,000 users accessed its shopping app. Major brands such as Samsung, Xiaomi, Huawei, Honor, Ponds, Vaseline, ERKE, Adidas, Nike, Maybelline were discounted by up to 90 percent. The company also offered additional discounts of up to 22 percent for holders of VISA, CB VISA and AGD VISA cards. The site also offered a 0-percent commission to sellers.
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  Most of the investors in garment sector are exporting their products to European Union market despite concerns about the review of GSP by European Union

  Most of the investors in garment sector are exporting their products to European Union (EU) market and despite concerns about the review of Generalised scheme of preferences (GSP) granted by the EU, investments are not lowering, said Director General Aung Naing Oo of the Directorate of Investment and Companies Administration (DICA). “Investors from some countries came to make investments in the garment sector of Myanmar as Myanmar has been granted GSP privilege by EU. Over half of garment products are exported to the EU market. They were intended to make investments in Myanmar to export their products to the EU market. Some foreign investors are concerned about the review of GSP privilege. They are worried that their products will not be exported to the EU market if the GSP privilege is withdrawn,” said the Director General.
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  UK’s Department of International Development (DFID) will invest around USD $ 2 million on a development scheme targeting small businesses in Myanmar

  The UK’s Department for International Development (DFID) will invest around US$2 million to help Myanmar develop a platform to finance small businesses, reducing the inequalities between SMEs and larger players. The DaNa Facility, a DFID-funded programme, will invest over $1.9 million in the “Shwe Lan” project which aims to initially provide access to working capital for 300 micro, small and medium-sized enterprises (MSMEs) in the country which employ the poor and women, with at least 30pc of those businesses, i.e. 90 companies, female-owned. The project will be managed by Swiss-based Seedstars and Myanmar firm Thura Swiss.
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  Myanmar will build the road connecting Thai- Myanmar border to Dawei Special Economic Zone (SEZ) by using the loans from Neighbouring Countries Economic Development Agency (NEDA)

  Myanmar will build a road connecting the Thai-Myanmar border to the Dawei Special Economic Zone using loans from Neighboring Countries Economic Development Cooperation Agency (NEDA). The Ministry of Construction, Myanmar, and Neighboring Countries Economic Development Cooperation Agency (NEDA) signed the Record of Discussion (ROD) agreement for the new road earlier this year. “ROD is about technical assistance for Survey and Detailed Design Project for the road to be built connecting the Thai-Myanmar border and Dawei’s SEZ,’’said U Han Zaw, Union Minister of the Ministry of Construction.
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  Foreign Direct Investment (FDI) increased under the NLD government (U Set Aung, Deputy Minister for Planning and Finance)

  Foreign direct investments (FDI) have increased under the NLD government, said U Set Aung, deputy minister for planning and finance. “The total approved FDI during the two years from April 2016 to the end of March 2018 under the current government is 16 percent of the total FDI approved during the entire period from 1988 to March 2016. That is why progress is being seen in the investment sector,” he said at the Pyithu Hluttaw meeting held on November 13. When the Myanmar Foreign Investment Law was passed in 1988, 1110 foreign businesses were allowed to invest during the 28-year period and total the investment amount was US$63.7 billion.
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  How Myanmar can benefit from the worsening trade war between the US and China, which is shifting both supply chains and industrial clusters

  Back in July 2018, Myanmar Business Today highlighted how an awakening U.S. economy and its emerging trade war with China could benefit Myanmar. After four months, where do things stand now? A recent report from Reuters highlighted the fact that, “The trade war between the U.S. and China is shifting both supply chains and industrial clusters, mostly towards Southeast Asia.” Well, this looks promising for Myanmar, but how should they proceed, and what should Myanmar keep in mind? We reached out to Brock Silvers for his thoughts on the situation. Mr. Silvers is a Multi-Asset Strategist and founder of Kaiyuan Capital based out of Hong Kong. He’s also a regular guest on: BBC’s Asia Business Report; Australian News Channel’s Sky News Business; Singapore’s Money FM 89.3; CGTN’s Global Business; and other media outlets.
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  Preparation for 7th MSMEs Regional Products Exhibition and Competition in Yangon is underway to promote regional products and to develop a network among micro, small and medium enterprise entrepreneurs from the states and regions

  Preparations are underway to hold the 7th MSMEs Regional Products Exhibition and Competition in Yangon. Yangon Region Chief Minister U Phyo Min Thein on Wednesday inspected the preparations for the opening of the 7th Micro, Small and Medium Enterprises exhibition and competition. It’s organized by the Small and Medium Enterprises Development Committee. The upcoming Exhibition and Competition will take place at Myanmar Expo (Fortune Plaza) to promote regional products and to develop a network among Micro, Small and Medium enterprises entrepreneurs from the regions and states.
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  President proposed the formation of a new Ministry for Investment and Foreign Economic Relations to the Union parliament to promote sustainable, accountable and responsible investments in Myanmar

  YANGON — President U Win Myint proposed the formation of a new Ministry for Investment and Foreign Economic Relations in a letter to the Union parliament on Tuesday, as foreign direct investment falls amid low business confidence and concern among Western investors over the Rohingya crisis. Attorney General U Tun Tun Oo presented the request on behalf of Win Myint, explaining that the ministry would promote sustainable, accountable and responsible investment on behalf of the state and its citizens and would also manage economic assistance from the United Nations and international organisations. Win Myint’s proposal, which will be debated on November 15, comes as the government struggles to meet its foreign direct investment targets. In the fiscal half-year from April to September, the Myanmar Investment Commission approved US$1.8 billion in foreign investment, well below its $3 billion half-year target.
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  German firms are interested to invest in Myanmar’s water and waste water infrastructure

  German companies will be travelling to Yangon, Nay Pyi Taw and Mandalay to explore Myanmar’s market focusing on water and wastewater infrastructure and a conference on the topic is hosted by the German Federal Ministry of Economic Affairs and Energy (BMWi) and the German Water Partnership (GWP), in collaboration with the German Embassy in Yangon. “A lot of the infrastructures need to be modernised and upgraded in terms of water and waste water in the big cities, including Yangon and Mandalay, it is a starter. Our German expertise can help. “We do not only offer high tech and newest machinery. We also offer partnership and system and help to get ahead here,” said Martin Klose, delegate from the Delegation of German Industry and Commerce in Myanmar (AHK Myanmar).