ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Central Bank of Myanmar will take action against private banks for opening branches without acquiring permission

  The Central Bank of Myanmar will take action against private banks that opened branches without acquiring permission, said U Soe Mine, Vice President of Central Bank. He included these comments in his explanation to the parliament session on Pyithu Hluttaw Public Account Joint Committee’s findings and feedback report (7/29/18) on Auditor General Office’s 2016-2017 report. “According to the decision of the Central Bank of Myanmar’s board of director’s meeting, we are planning to fine private banks that opened branches without acquiring permission from the central bank,’’ he added.
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  Myanmar government authorities upgraded the Reekhorda- Zokhawthar border gate into international level facilities which is expected to lead to greater development of tourism and trade

  “As the Reekhorda-Zokhawthar border gate has become an international level facility it will help develop tourism as well as trade,” said Vice President U Henry Van Thio during his inspection of the freight handling yard there yesterday. After examining the newly- built cargo inspection stands, the Vice President stressed the introduction of appropriate upgrading programs and facilities through modern designs that are suitable to the country. The border checkpoint between Reekhorda town and Zokhawthar village in Mizoram State of India is located in Chin State in the northwest of Myanmar.
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  The two Ambassadors from Japan and United States visited Thilawa Special Economic Zone (SEZ) to understand opportunities for US investors to invest in Thilawa SEZ

  Japanese and US ambassadors met on Thursday and visited Thilawa SEZ, Special Economic Zone, south of Yangon between Thanlyin and Kyauktan Townships. The 2 ambassadors toured around places including Myanmar Japan Thilawa Development Ltd., MJTD and One Stop Service Centre. Thilawa SEZ is a project with the collaboration work of Myanmar Japan Thilawa Development Ltd., Thilawa SEZ Management Committee, Government of Japan through Japan International Cooperation Agency and the Yangon Region Government. With over a 3-year experience of commercial operation, 97 investors from 17 countries have been approved for investment permit so far.
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  Myanmar tourism authorities prompted a move towards the Asian market as Myanmar’s image in western countries had been spoiled by the Rakhine crisis

  The government has rolled out incentives for Asian tourists, but industry insiders say more could be done to woo back westerners. TOURISM IN Myanmar boomed after political reforms were launched in 2011, but against the backdrop of the crisis in Rakhine State, recent tourism statistics have spelled trouble for an industry currently angled towards big-spending, longer-staying tourists from Europe and North America, and have prompted a move towards the Asian market. The Ministry of Hotels and Tourism says that - minus the 1,039,949 doing border hops without visas - 682,100 tourists visited in the first six months of 2018, a rise of 2 percent from the same period a year before. However, North American visitors had dropped by 15 percent, to 40,233, and visitors from Western Europe by 26 percent, to 93,138.
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  Government expects to attract more investments in the oil and gas sector as it is planning to open up more blocks to investors

  The Ministry of Electricity and Energy (MOEE) officially announced that the ShweYee Htun-2 appraisal well at offshore block A-6 near Rakhine State is able to produce natural gas for commercial purposes. However, U Win Khine, Union Minister of the MOEE, did not provide a timeframe on when the profit sharing contract (PSC) for development of the well would be signed. “Negotiations are still in the process. So we cannot provide an exact date on when the PSC between the government and oil majors can be signed for now,” he said in a press conference held in Nay Pyi Taw on September 25.
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  Myanmar Economic & Trade Cooperation Conference was held in Yangon in order to boost economic cooperation between Hunan and Myanmar

  China (Hunan) – Myanmar Economic & Trade Cooperation Conference was held on Monday afternoon in Yangon. The Vice Governor of Hunan Provincial People’s Government, the Vice President of UMFCCI, Union of Myanmar Federation of Chambers of Commerce and Industry, and Myanmar and Chinese entrepreneurs joined the 1-day conference. To implement the Myanmar-China Economic Platform which relates to the Silk road is already under discussion. This conference focused on business cooperation between Myanmar and Hunan Province of China and building up Silk Road Station. President, Lenercom International Engineering Co., Ltd., Lao Wen said “The purpose of that event is to encourage Hunan enterprises; the companies come to Myanmar and to invest here, set the tree here, to boost the economic between Hunan and Myanmar. And also, incentive and encourage to let the Myanmar’s companies to know where is Hunan and how Hunan is opening on all the business and they encourage businessman in Myanmar to come to Hunan and invest there. So there is the 2 ways hope to encourage business opportunities.”
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  Mandalay’s iron smelting industry using iron scrap is now facing challenges to survive due to the lack of technology, capital, skilled labour and regional competition

  The iron smelting industry using iron scraps is facing challenges to survive, according to the business managers and owners in Mandalay. The industry’s challenges include the lack of technology, capital, skilled labour as well as regional competition - key difficulties shared by small and medium-sized enterprises (SMEs) in other sectors. What iron melting factories in Mandalay are uniquely facing is the scarcity of raw materials. A major blow to that scarcity is illegal trading, said U Maung Maung Oo, secretary of Mandalay Industrial Zone Management Committee. “Iron merchants are selling raw [products] to Thailand via illegal routes. Previously, it was illegal trading but these days, it has increased. Local business persons cannot give that much price as the people on the other side,” he said.
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  Myanmar's exports to the United States worth USD $ 205.6 million, surpassing imports in the current mini-budget period from April to July 2018

  Myanmar’s exports to the United States surpassed imports from April to July of current mini-budget period (April to September), according to the data of the Ministry of Commerce, state media reported. Myanmar’s trade with the United States was worth US$320.5 million, with exports worth $205.6 million and imports worth $114.8 million.
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  In partnership with Myanmar Golden Rock International (MGR), power management company Eaton will expand into Myanmar market

  YANGON, MYANMAR — Eaton announced its expansion into the Myanmar market through a partnership with Myanmar Golden Rock International Co., Ltd (“MGR”), a leading technology solutions provider in the country. Eaton is an international company providing electrial solutions for a wide variety of sectors. Eaton is a power management company with 2017 sales of $20.4 billion USD. Eaton’s history stretches back to its founding in 1911 in New Jersey, USA. Asia Pacific is a key growth market for Eaton since the company established its presence in the region through the 1970s. Today, the company manufactures in 47 major manufacturing facilities and employs more than 20,000 people across Asia Pacific. Eaton’s entry into the Myanmar market builds on the company’s positive growth momentum in the region. Widely considered Asia’s final frontier, Myanmar presents immense potential for exponential growth, particularly in the power and energy market. Even with abundant energy resources, only 30 per cent of the population in Myanmar has a stable supply of electricity, an infrastructural constraint that brings substantial challenges to the country’s development and economic growth.
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  In partnership with Myan Shwe Pyi Tractors Limited (MSP), Yoma Strategic will enter the heavy equipment rental sector

  Singapore-listed Yoma Strategic announced a partnership with US Caterpillar’s Myanmar dealer to enter the heavy equipment rental sector in a bid to leverage on the upturn in the resource and construction industry. On September 24, Yoma Fleet, the automotive and heavy equipment financing subsidiary of Yoma Strategic, signed a partnership agreement with Thaketa-based Myan Shwe Pyi Tractors Limited (MSP),a supplier of power systems, machines and services to the agriculture, construction, forestry and mining industries. MSP is also the authorised independent dealer of Caterpillar-branded equipment in the country. A number of large-scale infrastructure projects are currently in the pipeline in Myanmar, where infrastructure development is critical for the country’s economy. “These projects include power stations, ports, special industrial zones, and upgrades to existing transportation networks. Under its National Transport Master Plan, the Myanmar government is planning to allocate US$21.4 billion to rail, road, port and aviation projects by 2030,” the press statement said.