ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Directorate of Investment and Company Administration (DICA) announced that only 61 public listed companies, including AMATA Holding Public Co., Ltd and Telecom Public Co., Ltd are entitled to sell shares to the public

  Apart from 61 public listed companies, any business entities have no right to sell shares to the public, according to a statement by Directorate of Investment and Company Administration (DICA). According to DICA’s statement dated October 1, AMATA Holding Public Co., Ltd and Telecom Public Co., Ltd are able to sell shares to the public. The DICA will also later release the list of additional public companies which have earned rights for public offerings. On August 8, 2017, the DICA announced the names of 55 public companies which can take part in share trading and which are formed in accord with the Myanmar Companies Act. Four additional public companies were also announced on September 17 via the State-owned Mirror Daily.
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  The Office of the Quartermaster- General in Yangon terminated the lease agreement worth USD $ 500 million on Chinese-backed Yangon development project as the developer Zaykabar had breached the terms of the deal

  YANGON – The Office of the Quartermaster-General in Yangon has cancelled the lease agreement for a US$500 million mixed-use project in Yangon, because it said developer Zaykabar had breached the terms of the deal, including by signing a joint venture agreement with a Chinese company. The company owned by construction tycoon U Khin Shwe intended to build 12 high-rise towers on 13 acres (five hectares) of military-owned land, on a prime hill-top site in Yangon’s Bahan Township. The project has been on hold since early this year due to objections from residents. The height of the buildings (ranging from 382 to 412 feet) would have been within zoning guidelines, but residents complained it would obscure their view of Shwedagon Pagoda and said that it threatened historic buildings, including the former Mayor’s Residence and Mayor’s Guest House. There were also fears that it would damage the adjoining Kokkine reservoir, which distributes water to eight townships.
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  With the assistance of German Kfw development bank, Myanmar government upgraded the German- Myanmar friendship rural road in southern Shan State, which was inaugurated to promote the social-economic life of local people

  A rural road constructed with the assistance of German KfW development bank was opened yesterday in Kalaw Township, southern Shan State. The new road will benefit over 15,540 people from 30 villages in the area and would directly result in promotion of socio-economic life of local people. The road is 13.48 km long and 4.5 metre wide. Speaking at the ceremony to inaugurate the road, Union Minister for Construction U Han Zaw stressed the importance of rural roads in promoting the socio-economic life of rural people, disclosing that the country is in need of all-weather roads in rural areas. He also said that his ministry is drafting policies for road and bridge development as part of efforts for smooth transportation in the country. Under the assistance of German KfW development bank, upgrading the rural roads in Taunggyi District started in 2014 at a cost of 7 million euros, and the upgrading of the roads with a total distance of 30 km have been completed. Meanwhile, the work on upgrading of six rural roads with a total distance of 60.5 km in Taunggyi, Kalaw, Hopone, Nyaungshwe and Yaksawk townships were upgraded at a cost of 11 million euros, and they were also commissioned into service yesterday.
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  Two major business groups warned against blaming “economic malaise” on the northern Rakhine crisis, calling for less protectionism and gerontocracy, as well as involvement of the younger generation and clarity on the regulatory environment

  Two major business groups in Myanmar have warned against blaming all of the country’s economic woes on the northern Rakhine crisis, urging the government to tackle protectionism, involve the younger generation and provide clarity in the regulatory environment. The British Chamber of Commerce Myanmar (BritCham) said Rakhine is “far from being the sole or main factor” in Myanmar’s “current economic malaise”, while the European Chamber of Commerce in Yangon called the misconception that Western FDI is not forthcoming purely because of Rakhine “cannot be further from the truth”. In reality, the lack of clarity on regulations and fumbling of reforms have deterred many international investors. But both organisations warned that the humanitarian nightmare looms large for Myanmar “like a sword of Damocles” and that trade promotion abroad for the country has therefore been made “mission impossible”. The intervention came as the National League for Democracy-led (NLD-led) government just reached midpoint of their five-year term and has come under increasing pressure over its handling of the economy. Local officials have sought to explain the disappointing FDI inflow and falling investor interest as a result of the reaction of Western investors to the catastrophe in northern Rakhine.
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  Union Minister for Commerce, Dr. Thant Myint called on the local entrepreneurs to invest in China- Myanmar border economic zone project

  Union Minister for Commerce Dr Than Myint has called on local entrepreneurs to invest in a border economic zone project in China-Myanmar. “The government has a plan to implement other economic zones. During Myanmar State Counsellor Aung San Suu Kyi’s tour to China last year, a contract was signed on the establishment of trading and processing zones in Kachin, Shan and Yunnan Province on China-Myanmar border. The central working committee has been formed for the implementation of these projects. Soon the central committee will implement these projects after holding discussions with Kachin and Shan State governments,” Dr Than Myint added. “Entrepreneurs can make investments in the projects. They can give suggestions. Thanks to it, we can implement the projects successfully. I would like to inform entrepreneurs that there are many investment opportunities not only in Thilawa Special Economic Zone but also in other zones,” he continued.
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  Local fuel prices increased by over 19 percent over the past four months due to the dollar appreciation

  Local fuel prices have increased by over 19 percent over the past four months due to dollar appreciation, according to filling stations. On Monday in local market, maximum prices fixed by Myanmar Oil Importers and Distributors Association were Ks1,075 for one liter of diesel (K4,887 per gallon), K1,085 for one liter of premium diesel (Ks4,932 per gallon), Ks1045 for one liter of 92 Ron octane (Ks4,750 per gallon) and Ks1,095 for one liter of 95 Ron octane (Ks4,977 per gallon). In comparison with the prices on June 3, prices have increased by 18.13 percent for diesel, 17.29 percent for premium diesel, 18.75 percent for 92 Ron octane and 17.74 percent for 95 Ron octane. Since the second week of October in 2017, oil prices per barrel have significantly increased with US$49 in early August, US$51 in early October, US$55 in early November, US$58 in early December, US$61 in early January this year, US$64 in early February, US$68 in late April, US$72 on May 21, and US$74 on July 10.
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  Mandalay Regional Government will fine fish breeding ponds that use farmland about one million kyats

  Mandalay Regional Government issued a notice stating that it will fine fishery ponds for using farmland. The notice indicated the fine would be one million kyats. The stakeholders in the industry appealed to the Union Government. Dr. Aung Thu, Union Minister for Agriculture, Livestock and Irrigation, promised that he will help negotiate between the two parties: fish breeders and the regional governments. “The Minister released a notification to allow farmland to be used for other purposes such as fish ponds,” Howeve, the Mandalay Regional Government has included a one million kyat fine for the fish breeders when applying for legal status. The union minister, therefore, promised us he will hold a meeting with regional ministers since the notice from the regional government is differ from the original course,’’ said U Win Kyaing, General Secretary of Myanmar Fishery Federation.
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  Construction firms in Yangon are struggling due to the government’s unanticipated new regulation restricting their construction work in early of 2018

  The Yangon authorities failed to consult industry players on a new regulation restricting their construction work early this year. Now, the recently imposed restriction has chomped the sector hard, causing businesses further difficulties in an industry which is already struggling. On April 1, the Yangon Development Committee (YCDC) introduced restrictions that limit the height of the ground floor of new buildings to 12 feet, from 17ft previously. The new regulations also prohibit the building of penthouses on the top floor of buildings. U Myo Myint, working committee member of the Myanmar Licensed Contractors Association, said the government needs to notify and consult stakeholders and the public before putting new policies and regulations in place, but there was no early notification about the April 1 regulations. As a result, construction work around the city was disrupted.
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  Myanmar’s private sector should be at the driving seat for reform to develop human capital that is vital for Myanmar’s transition as a country

  Businesses in the country are best-placed to be at the driving seat for reform, an expert said at a conference in Yangon. On a broader level, the human capital and capacity of employees which the private sector is well-positioned to develop are vital for Myanmar’s transition as a country. Vicky Bowman, director of Yangon-based Myanmar Centre for Responsible Business (MCRB), stressed that human resources managers played an essential role in ensuring that their companies did business responsibly, since corporate governance is about what people do and why. Each element of what makes a responsible business - treating customers responsibly, not paying bribes etc – involves choices, informed or otherwise, by employees. She was speaking at the Professional Development Conference, organised by Yangon-based LEARN Myanmar and Singaporean training firm Professionals Supremacy Corporation Pte Ltd on September 29 and 30. At the event, Myanmar’s lack of human capital was discussed by U Maung Maung Lay, Vice President of the UMFCCI, emphasising the need to address the problem urgently.
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  Yoma Bank and Myanmar CP Livestock (MCPL) signed an innovative loan agreement to facilitate livestock dealers and farmers with working capital

  Yangon, Myanmar – September 28, 2018 - Yoma Bank signed an innovative loan agreement with the authorized dealers of Myanmar CP Livestock (MCPL), the leading agro-industry and food business in Myanmar. The purpose of the loan is to facilitate livestock dealers, and farmers with working capital to buy animal feed from Myanmar CP Livestock. Myanmar CP Livestock is currently operating three feed mills, located in Yangon, Taunggyi, and Mandalay, with a total capacity of around 750,000 tons a year. As one of Myanmar’s largest banks with over 3,000 employees and 75 branches nationwide, Yoma Bank is proud to be supporting local dealers & farmers with this new program. This Agribusiness Finance Program is Yoma Bank’s new innovative SME financing product, and shares its benefits to all the stakeholders involved. With this program, individual farmers and dealers will have access to the formal financial system to grow their livestock businesses. At the same time, MCPL will be supported to grow their sales on the back of their clients’ increased purchasing power. To apply for this program, applicants are not – as usually requested by Myanmar Banks - required to avail any physical collateral, but instead need to prove a positive track record.