ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Exclusive interview with Dr. Wanchai Sirisereewan, Director of Central General Hospital Group, Bangkok on the medical tourism project in Myanmar

  As interest for regional economic collaboration continues to grow in all sectors, healthcare is continuing to improve in many Southeast Asian countries. As a result, the region is quickly gaining interest from the global community. This is partially due private sectors who have worked hard to promote medical tourism and travel. One example is the “Joint Replacement and Hand Surgery Seminar” at Melia Hotel. It was organized by CGH Hospital, which was held on September 2 and attended by over 100 people as well as Myanmar doctors. We wanted to know more about CGH Hospital, the event, and how it can help Myanmar people. Myanmar Business Today had the privilege to interview Dr. Wanchai Sirisereewan, director of CGH Hospital, Bangkok, Thailand — the following is what we learned.
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  HealthyOrg, a health consultant services with a digital platform won the Kasikorn Bank’s 2018 Biz Plan challenge

  KBank Group, in collaboration with the Central Department of Small and Medium Enterprises Development, hosted the KBank Plan Challenge 2018, with the aim of promoting SMEs in Myanmar. HealthyOrg, a health consultant service with a digital platform, won the competition. KASIKORNBANK (KBank) is a Thailand based financial institution with extensive experience working with Small & Medium Size Enterprise (SME). Myanmar Business Today was able to sit down with representatives from KBank to talk about the event. Mr. Pattanapong Tansomboon, the First Senior Vice President of KBank explained, “Financial literacy is important in helping a country to move forward. It’s what helped Thailand get going. Our program will help show the importance of financial literacy here in Myanmar.” This event is the culmination of three years of work to shepherd the teams. It was done through three sessions. The first session was launching the idea. It involved talking to the media, and partners to seek potential candidates.
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  London based Environmental Investigation Agency (EIA) warned that a timber trade deal in Kayah State undermines the government’s forestry reform and urged authorities to revoke the agreement

  A UK-based non-profit has warned that a timber trade deal in Kayah State represents “a significant step backwards” for the government’s commitment to forestry reform and urged the authorities to revoke the agreement. Local media in Kayah State recently reported on an unclear agreement to allow the trade of 5,000 tons of valuable hardwoods, including 3,000 tons of teak, from logging operations in the conflict-torn state. London-based Environmental Investigation Agency (EIA) yesterday said that if the deal proceeds it will further undermine Nay Pyi Taw’s stated policy of improving forest governance after decades of mismanagement which resulted in Myanmar suffering from one of the highest rates of forest loss in the world. According to the news reports, the timber will be extracted from areas controlled by the Karenni National People’s Liberation Front (KNPLF), an ethnic-armed organisation which signed a ceasefire with Myanmar’s military government in 1989 and was subsequently converted into a pro-government border guard force in 2009.
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  With the support of International Finance Corporation (IFC), Yangon Regional Government will start the implementation of an elevated expressway project in 2019 to reduce traffic jams and create more job opportunities

  YANGON- With the aim to reduce the traffic jams and to create more job opportunities, Yangon Government Committee discussed about implementation of Elevated Expressway Project with International Finance Corporation (IFC). The project is expected to start next year, according to Union Minister of State Counsellor’s Office Kyaw Tint Swe. Yangon Elevated Expressway is expected to provide easy access to Yangon downtown, Yangon International Airport, Yangon Port, Thilawa Special Economic Zone, Mindalardon Industrial Zone and Yangon-Mandalay highways. In order for the goals to be met, the Ministry of Construction has prepared a Request For Qualification (RFQ) and Preliminary Information Memorandum (PIM). “As implementation of the elevated expressway project, we can solve the issue of traffic jams and also will be creating many employment opportunities at the same time,” said Kyaw Tint Swe.
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  UMFCCI and Viet-Nam ASEAN Economic Development Corporation Association jointly organized the Vietnam- Myanmar trade & investment promotion event at UMFCCI office last week

  Viet Nam and Myanmar counterparts discussed trade and investment promotion, and opportunities and challenges between the two countries, at an event held yesterday at the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) office. This event was jointly organized by the UMFCCI and Viet Nam–ASEAN Economic Development Cooperation Association, with 50 Vietnamese businesspersons in attendance. Most of them are engaged primarily in construction equipment manufacturing, real estate service, teaching aids production, health care service, traditional medicine, heavy construction, finance, painting and coating, urban electric supply, purified water production, edible bird nest industry, agriculture and agro-based food production, vegetable production and rubber production. At the event, officials from UMFCCI explained investment opportunities in Myanmar, under Myanmar Investment Law and Myanmar Special Economic Zone Law, prioritized export/import items and foreign investment sectors in Myanmar. Investors can make investments in agriculture, aquaculture and fisheries, urbanization, tourism and hospitality, electric power, manufacturing, infrastructure development, extractive industries (minerals, oil and gas) and forestry-based industries.
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  Government authorities plan to permanently open the Maw Taung gate on the Myanmar- Thailand border to address the falling number of tourists

  Maw Taung border gate in Myanmar-Thailand border is seeing less tourists and it need to open permanently to attract the tourists, according to officials and traders. Trading and tourism sectors through Maw Taung border gate have restrictions as it is a special temporary border trade post in Thailand side. Myanmar opened the border gate as a permanent border trade post in 2013 and Thailand opened Singkorn border post as a special temporary border trade post in 2015. Tourists from countries outside of Thailand cannot come through Maw Thaung-Singkorn gate as it is a special temporary border trade post. “Only Thai citizens are allowed to cross to here with border pass and temporary border pass. It’s the same with Myanmar citizens. More than 400 Thai citizens visited here using temporary border pass and over 80 Thai citizens visited here using border pass. There are lesser tourists in the rainy season. Transportation is also bad. People living in the villages around Maw Taung went to work in Thailand. Most Thai citizens that comes over are here for pilgrimage. They usually visited Myeik. The border pass holders can stay three nights and four days in Thailand. Myanmar allowed Thai citizens to stay 13 nights and 14 days for border pass holders and six nights and seven days for temporary border pass holders,” said Maung Maung Kyaw, an immigration officer from Maw Taung border post.
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  China and Myanmar vowed to boost the Belt and Road cooperation to strengthen the China-Myanmar Comprehensive Strategic Cooperative Partnership

  Vice Chairman of the Standing Committee of China's National People's Congress (NPC) Ding Zhongli visited Myanmar from Sunday to Tuesday at the invitation of Myanmar's House of Representatives. During his visit, Ding met with Myanmar's First Vice President U Myint Swe, Speaker of the Union Parliament and Speaker of the House of Representatives U T Khun Myat, Speaker of the House of Nationalities U Mann Win Khaing Than, and held talks with Deputy Speaker of the House of Representatives U Tun Tun Hein. Ding said China and Myanmar are friendly neighbors linked by mountains and rivers and the Paukphaw (fraternal) friendship between the two peoples is long standing. He said China's National People's Congress is willing to work with Myanmar's Union Parliament to actively implement the consensus reached by leaders of the two countries and take Belt and Road cooperation as an opportunity to enhance friendly cooperation.
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  Current gold prices hit the highest levels in the country’s history which comes on the back of the rising dollar compared to the Myanmar kyat

  Domestic gold prices are now at their highest levels ever at K10 lakh a tical, according to U Kyaw Win, chair of Myanmar Gold Entrepreneurs Association. On September 19, the opening price for one tical of high purity gold in Yangon Region was K 1,012,000. That had increased to K 1,018,000 by noon, said U Win Myint, secretary of Yangon Region Gold Entrepreneurs Association. A tical is equivalent to 16.6 grams. The current gold price is the highest in the country’s history and comes on the back of rising dollar prices compared to the Myanmar kyat, U Kyaw Win said. The situation is unique to Myanmar. “International gold prices are not increasing but the Myanmar gold price is rising because of the high dollar exchange rate. Domestic gold prices will continue to be volatile as long as the dollar continues appreciating,” he said.
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  KoneSi Freight Co., set an innovative technical solution to digitize Myanmar’s logistics sector which is able to reduce logistics costs to a large extent

  RETAILERS will no longer need to bother about logistics and fleet operators now have no worries about empty runs in Myanmar thanks to an innovative technical solution launched earlier this year, according to SoePyaeAung, co-founder and chief operating officer of KoneSi Freight Co. “Logistics costs in Myanmar are among the highest in Southeast Asia, accounting for nearly 25 per cent of our GDP [gross domestic product]. So, if we are able to reduce logistics costs to a large extent, our products will be cheaper than ever, which will benefit end users,” he said in an interview. “Unlike big transport companies, it is really hard for individual fleet owners and small freight forwarders to find customers. In the low season, they often have no customers at all. We want to get them connected with the supply chain so they always have a job at all times.” The company has partnered more than 300 fleet operators to regularly serve some 30 businesses for their logistics convenience. Most of its regular customers are up and coming brands including Genius coffee, Maw Shan green tea, and Organic Farm pickled tea leaves, said SoePyaeAung.
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  Local business communities are disappointed that their meeting with the State Counsellor failed to discuss specific solutions for tackling a sluggish economy

  The business community is disappointed that a much-hyped meeting in Nay Pyi Taw failed to discuss solutions for tackling a sluggish economy. A MEETING between State Counsellor Daw Aung San Suu Kyi and business leaders that was front-page news in state-controlled newspapers has come under criticism for failing to discuss specific solutions to the slowdown in the economy. Critics of the meeting within the business community say the event was little more than a speech and a photo opportunity for participants. At the end of her opening speech at the event in Nay Pyi Taw on August 27, Aung San Suu Kyi urged everyone involved in business to show goodwill and unity and use their knowledge and wisdom to benefit the country. “I will conclude by urging you all to use your knowledge and wisdom to find a solution,” she said.