ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

• 

  Yangon Region Investment Committee (YRIC) allowed 92 investment enterprises from 10 foreign countries, including China, Singapore, Japan, South Korea and Vietnam

  Myanmar's Yangon Region Investment Committee (YRIC) has permitted 92 investment enterprises from 10 foreign countries so far, Xinhua reported quoting the official Global New Light of Myanmar. The enterprises are those from 10 foreign partner countries including China, Singapore, Japan, South Korea and Vietnam.
• 

  MPs called for the restructuring of loss-making State-owned Enterprises (SOEs) which have not fulfilled their role in driving forward Myanmar's economy

  Despite being established with the objective of driving the nation’s economy, State-owned enterprises (SOEs) have not lived up to their roles. Instead, at least a third is leeching off public funds that could have been channeled elsewhere. That needs to change, MPs said. SOEs were established with the aim of producing goods for export and as import substitutes as well as to make goods affordable for the people. However, due to poor technology, weak competitiveness and mismanagement, many SOEs have instead become a burden to the State, the MPs pointed out. There are 32 SOEs managed by six union ministries and among them, only 22 are profitable. According to 2018-19 budget data, estimated profits are expected to total some K2 trillion, with around one third generated by the Central Bank of Myanmar, four state banks and Myanma Insurance.
• 

  Myanmar Shipyards under the Ministry of Transport built 528 new vessels and repaired 1,598 ships until August 2018

  YANGON- Myanmar Shipyards under the Ministry of Transport said that 528 new ships were built and 1,598 ships were repaired up until August this year. Myanmar Shipyards was formed in 1970 as a state-owned enterprise and it has carried out construction and repairing processes of vessels as commercially since the beginning of 1976. “We built 528 newly vessels and repaired 1,596 ships from 1970 to this year August. Starting from October last year, 15 ships were docked and repaired at the shipyards as well as three 400 Ton Working Barges were built for the Ministry of Construction,” said an anonymous officer from Myanmar Shipyards. U Thar, a vessel owned by Myanmar Five Stars Shipping Line, was built at Shikoku Dockyard in Takamatsu, Japan and repaired at the Myanmar Shipyards (Hsinmalaik) and started seafaring in September.
• 

  Myanmar hosted the biggest International Exhibition & Conference on agriculture, livestock, aquaculture & fisheries in Yangon in order to provide a professional business platform for relevant industries

  Myanmar, hosted the Agri - Livestock - Aqua Fisheries Cambodia 2018. This event was the biggest international exhibition and conference on Agriculture, Livestock, Aquaculture and Fisheries of its kind, to of been held in Myanmar. In this 2018 edition, the organizer was honored to welcome 30 exhibitors from many countries around the world such as Germany, India, China, Taiwan, Vietnam and Myanmar. The opening ceremony took place on 26 September 2018, at the Rose Garden Hotel, Yangon, Myanmar. The event was held in order to provide a professional business platform for livestock industry professionals, to exchange new ideas and solutions, source products and services, and stay connected within the industry. It proved to be a unique opportunity for entrepreneurs to expand their business market, update the latest innovations, connect with potential customers effectively, and have an objective overview about Myanmar as well as the Southeast Asia market. It was the perfect place for agriculture professionals to discover the latest industry innovations and to build a strong network.
• 

  Local rubber prices are riding rough due to the instability of current dollar exchange rate in Myanmar

  The current instability of dollar exchange rate has led to a rough ride for local rubber price, said U Khaing Myint, secretary of Myanmar Rubber Planters and Producers Association. “The prevailing local rubber price is not that different, compared to global rubber price. However, dollar exchange rate fluctuation in local currency market causes a rough price pattern for local rubber”, he said. At present, a ton of RSS3 (ribbed smoked sheets) rubber is worth US$1,300 in global market, whereas local rubber fetches Ks850 per pound. When the US dollar exchange rate hit above Ks1,640 last week, the price of rubber reached a high of Ks890 per pound. Rubber production was halted during the rainy season. It was resumed this month and the price turned to the high side. Nevertheless, production is still less, since the rainy season has not ended, said U Khaing Myint.
• 

  Myanmar government relaxed restrictions on visitors from Japan, China and Hong Kong in order to increase tourism business in Myanmar

  With the aim of increasing tourism business in Myanmar, ordinary passport holders from Japan, South Korea, China, Hong Kong and Macao will have visa entry relaxed as 1 year of probation period from 1 October 2018 to 30 September, 2019, state media reported. Travellers from Japan, South Korea and China’s Administrative Regions: Hong Kong, Macao will be allowed visa exemptions to enter and leave Yangon, Mandalay and Nay Pyi Taw international airports, Yangon international harbor, Tachilek, Hteekhee and Kawthoung international airport (Myanmar-Thailand), Tamu and Rechawdar international airport (Myanmar-India).
• 

  Yangon International Airport continues push to become a high- performance airport that promotes tourism to Myanmar

  Yangon International Airport (YIA) attended World Routes 2018 in Guangzhou, China from 15-18 September 2018. As part of YIA’s push to become a high-performance airport that actively plays a role in promoting tourism to Myanmar, the YIA team held individual meetings with over 50 different airlines including airports and tourism ministries from different countries. Twenty-five of the meetings held consisted of airlines and airports from the Asia-pacific region. This event marks YIA’s 10th attendance at Routes Asia and World Routes since 2014. This year YIA brought the culture of Myanmar to Guangzhou by showcasing traditional marionette puppet performances as well as professional Chin Lone players entertaining the attendees.
• 

  Myanmar authorities successfully renegotiated the new ownerships terms for Kyaukphyu SEZ

  Myanmar and China are on the cusp of signing a framework agreement on the development of Kyaukphyu Special Economic Zone (SEZ) in Rakhine State, U Than Myint, Minister of Commerce and chair of the Myanmar SEZ Central Committee, told The Myanmar Times. The agreement, which is expected to be signed before the end of the year, will see the Chinese taking up a 70 percent stake in a strategic deep sea port at the SEZ. The remaining 30pc will be taken up by the Myanmar government and local public firms, U Than Myint said. The Chinese have also agreed to new arrangements that will help Myanmar lighten its financial burden as it takes on a larger stake in the project. Construction of the port will commence after the terms are finalised and the framework agreement has been signed. The development comes after months of difficult negotiations between China state investment vehicle CITIC Group and the NLD-government to reduce the Chinese consortium’s stake in the port from 85pc to 70pc. Under the previous government, CITIC had won the original tender to build the port based on an 85:15 ratio.
• 

  Myanmar Petroleum Trade Association (MPTA) called on business persons not to sell fuel at the rate less than purchase prices

  THE Myanmar Petroleum Trade Association (MPTA) has requested businesspersons not to sell fuel at the rate less than purchase prices to avoid the possible risks like financial fraud, said its secretary Dr Win Myint. This come from the meeting of the association held on Saturday, 28 September. Currently, some filling stations are selling fuels at prices which are lower than their purchase prices in the domestic market. Dr Win Myint added that selling of fuels at less than purchase prices can impact the market in the long run. Financial problems may arise in the future. At present, some filling stations in the countryside discontinued their business. Internationally, this is an unfair competition arising due to the stiff competition of big companies. Therefore, the association called on entrepreneurs to sell fuel at above purchase prices.
• 

  Directorate of Investment and Company Administration (DICA)’s new electronic registry system, MyCo registry starts accepting company filings

  The Directorate of Investment and Company Administration (DICA)'s new electronic registry system will start accepting a number of forms related to company registration from today onwards. All company registration and filing processes has re-commenced since August 1 under the system Myanmar Companies Online (MyCO). The MyCO registry will be accepting the following forms online from now on: Form C1 (Notice of alteration of constitution), Form C2 (Notice of change of company name), Form C4 (Notice of change of registered office or principal place of business), Form D1 (Particulars of directors and secretary), Form G1 (Statutory Report of public company), Form G2 (Prospectus of public company), Form G3 (Statement in lieu of prospectus of public company) and Form G4 (Statement in lieu of prospectus of public company).