ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  The 20th regular meeting between the Private Sector Development Committee and Myanmar Entrepreneurs was held at UMFCCI Office in Yangon to promote private sector business

  Vice President U Myint Swe, Chairman of the Private Sector Development Committee, and business persons held the 20th regular meeting in Yangon yesterday to promote the private sector. The 20th regular meeting between the Private Sector Development Committee and Myanmar entrepreneurs was held at the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) office in Yangon. The Private Sector Development Committee was formed in 24 October 2016 to effectively carry out the tasks of the private sector development framework. Speaking at the meeting, Vice President U Myint Swe reiterated the government’s commitment to helping the entrepreneurs overcome their challenges as part of efforts for developing the country’s economy. The regular meetings have been held since 2016 December where sector and group wise difficulties were being resolved. As of the 19th meetings 283 suggestions and difficulties faced were submitted to the government and responses were sent to the relevant businesses through UMFCCI.
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  Due to the growing international backlash over the Rohingya crisis, Myanmar might lose European Union (EU) trade privileges over its “blatant violation of human rights”

  The European Union warned Myanmar on Friday it could lose trade privileges over its "blatant violation of human rights", as the international backlash over the Rohingya crisis grows. EU Trade Commissioner Cecilia Malmstrom said a fact-finding mission would arrive in Myanmar soon to assess whether the highly preferential tariff arrangement Myanmar enjoys, known as "everything but arms" (EBA), should be withdrawn. "We cannot exclude this outcome and of course the reason is the blatant violation of human rights in Myanmar," Malmstrom told reporters at a meeting of EU trade ministers in Innsbruck, Austria. "Our trade policy is values-based. These are not just words. We have to act when there are severe violations."
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  Myanmar Thilawa SEZ Holdings Ltd’s (MTSH) share prices fall in the wake of boardroom row, leading to the resignation of its Chief Operating Officer

  Yangon-listed Thilawa SEZ Holding Ltd’s (MTSH) stock has seen a drop in share price as a row which engulfed its board directors brewed, leading to a resignation of its chief operating officer. U Thein Han, a director of the company’s board, and chair U Win Aung argued openly among other directors at the fifth MTSH annual meeting at Myanmar Event Park on September 29. The day before, the share was at K2,950 dropping to K2,900 on October 2. “Such dispute at the annual general meeting shouldn’t have happened,” said one of the board member who spoke on condition of anonymity. The reason behind the internal dispute came from the chair’s reluctance to answer questions raised by shareholders at the annual meeting.
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  High demand for newly-produced fresh paddy from northern Bago Region has prompted the Myanmar Rice Millers Association (MRMA) to call on the government to effectively combat illegal paddy export

  Newly-produced fresh paddy from northern Bago Region is in high demand, with daily purchase of 30,000 baskets, prompting Myanmar Rice Millers Association (MRMA) to call for effective combating illegal paddy export, said officials from MRMA. “Even a single township can supply thousands of paddy baskets per day. More townships will be joining in the coming harvest season. Millers have to purchase tons of paddy. At that time, some paddies illegally flow out of the country through border trade routes. When that happens all the time, illegal export volume will reach to a peak level, which concerns us”, U Nay Lin Zin, general secretary of MRMA said.
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  Two days workshop to strengthen Small and Medium Enterprises (SMEs) was held in Yangon to discuss how to further integrate Myanmar’s economy regionally and globally

  A workshop to strengthen Small and Medium Enterprises (SMEs) began on Thursday in Yangon. Concerned officials, US Ambassador, local and foreign experts and SMEs entrepreneurs joined the two day workshop “Growth in international markets-A tool kit for SMEs”. US Ambassador, H.E. Scot Marciel said … “it's part of broader efforts by United States to support economic development and growth especially focuses on helping farmers, entrepreneurs, small and medium sizes businesses”. “This workshop is part of the series of programs that we are doing. The main idea is it gives them a chance to hear from other entrepreneurs, some from United states, some from the region and some from Myanmar who've been successful. And to learn from those entrepreneurs, some of the things that help them succeed." Weakness in access to information, market and finance challenge the Small and Medium Enterprises to grow even in the local market, Myanmar Young Entrepreneurs Association said.
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  China agreed to continue the first phase of Kyaukphyu deep seaport project, based on economic gains: the first phase is expected to cost around USD $1.3 billion

  The first phase of Kyaukpyu deep seaport project will be implemented with US$1.3 billion investment and China agreed to continue the project based on economic gains, said Dr Than Myint, Union Minister for Commerce and Chairman of Central Committee of Special Economic Zone. “The investment is US$1.3 billion for the first phase of the project. We initially intended to build two big ports here. One port has six wharfs and another port has four wharfs. The plan now is that we will first build two wharfs with an expected the cost of around US$1.3 billion. Two big ports will cost about US$7.3 billion. We will consider carrying on with the project after the first two wharfs are built. We will use them and see the results. China agreed to it. We will proceed step by step,” said Dr Than Myint. The framework agreement to develop the first phase of the deep seaport will be signed this year. Although Myanmar initially agreed to let 85 per cent of the project owned by China’s CITIC, it was renegotiated during the present government’s era. CITIC has now agreed to take 70 per cent of total share now, he said.
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  Regional government will deport illegal aliens who are working at watermelon and muskmelon farms and using illegal pesticides in Sagaing

  Sagaing Region government minister of Agriculture, Livestock and Irrigation said today at the assembly that some foreigners were working illegally at watermelon and muskmelon farms in Sagaing Region and they using illegal pesticides. Minister Kam Zar Hmong said at assembly session that some foreigners stayed and worked illegally at watermelon and muskmelon farms with produce being exported through 105-milepost Sino-Myanmar Trading Centre. 38 illegal aliens were deported last year and this year and one of these illegal foreigners were prosecuted. The Minister answered a question from Aung Kyaw from Butalin constituency regarding illegal Chinese nationals working at these watermelons and muskmelons farms he also said that the government did monthly regular foreigner control and verification work.
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  Directorate of Water Resources and Improvement of River Systems and JICA signed an agreement worth 6,033 million yen to implement Mandalay port construction project

  The Directorate of Water Resources and Improvement of River Systems and Japan International Cooperation Agency signed an agreement worth 6,033 million yen in grant aid for a Mandalay port construction project on Wednesday. The agreement signing ceremony was attended by Director General Tun Lwin Oo and officials from the directorate and JICA officials. The Mandalay port construction project will be implemented this month under the programme. Plans are also underway to pay land compensations. The port project area will cover area from Shwe Hlan Bo Monastery between Amarapura and Mahaaungmyay townships to the bank of the Ayeyawady River. The project will include construction of a 300 foot-long three-land approach road, a 180-metre-long jetty, a container yard, warehouses and port offices and installation of machinery and equipment for handling of goods.
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  Government authorities are preparing to draft a law to regulate the multi-level marketing and protect consumers

  Following the government’s prohibition of multi-level marketing via a notification dated September 18, consumer rights advocates and other experts have come out to say more must be done to educate the public about the drawbacks of the system. The notification from the Ministry of Commerce says those found operating MLM-type businesses will face legal action under the Essential Supplies and Services Law. The law states that if found guilty, the person will face imprisonment between six months and three years and shall also be liable for a fine not exceeding K500,000. Unlike ordinary businesses, MLM businesses tend to rely on participants recruiting others to work beneath them for a cut of their profits. This can result in something resembling a pyramid scheme where the early participants reap the most while those lower down struggle to recruit more people for the scheme.
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  The border trade value increased by USD $ 592 million during six months interim period before the next 2018- 2019 financial year when compared to the same period of last fiscal year

  The value of border trade from 1 April to 31 August, during the six-month interim period prior to the next 2018-2019 financial year, increased by US$592 million, compared to the same period last year, state media reported. Border trade from 1 April to 31 August 2018 $4.01 billion, which included $2.55 billion in exports and $1.45 billion in imports, according to statistics from the Ministry of Commerce. Myanmar trades with neighbouring countries China, India, Bangladesh and Thailand.