ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Discussions on intellectual property rights for SME development took place in Yangon to share knowledge on IP laws, especially in trademark and design

  A discussion on Intellectual Property Rights for SME development took place in Yangon on Sunday. The forum on Trademark and Design was organized by the Intellectual Property Proprietors’ Association, Myanmar, IPPAM, with the support of USAID. It aims to share knowledge on IP laws, especially Trademark and design issues. The Intellectual Property Bill was drawn in 2013 and covers Trademark, Patent, Industrial Design and Copyright. IPPAM stresses the importance of the law. President, Intellectual Property Proprietors’ Association, Myanmar, Kyaw Kyaw Win said “Once the bill is approved by the People’s parliament and signed by the President, we will work on rules and regulations to apply for. Trademarks are very important for the growth of the country’s GDP and businesses. I think there are 60,000 trademarks registered in our country. Once we have rules and regulations, we can produce and register the geographical identity of the brand, like Sein Talone Mango, Ywar Ngan Coffee, Bagan lacquer ware.”
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  U Myint, Former Chief Presidential Economic Advisor, advocated policy areas which can help ensure economic development and better benefits for ordinary people

  EVEN as international agencies pronounce a favourable outlook for Myanmar, former chief presidential economic adviser U Myint has identified policy areas that can help ensure that an improving economy benefits ordinary people. The economist endorses a move that will see fresh studies conducted into patterns of expenditure in household consumption starting from 2010. He hailed the Central Statistical Organisation’s efforts to undertake such an update with the support of World Bank, which, with the International Monetary Fund, has maintained its positive outlook for the national economy. “I believe the study will provide useful information on the state of life and labour for the common folk in our country,” U Myint said. He said that average incomes of families in many parts of Myanmar were inadequate to meet household consumption expenditure. Estimated monthly incomes of average households were insufficient to cover consumption costs in all the states and regions except Yangon and Ayeyarwady.
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  Myanmar's first credit bureau, a joint venture between Singapore’s Asian Credit Bureau Holdings and Myanmar Banks Association, would significantly contribute to building trust between bankers and businesses

  FOLLOWING the recent issuing of Myanmar’s first credit bureau licence to a joint venture company between Singapore’s Asian Credit Bureau Holdings and Myanmar Banks Association, small and medium enterprises (SMEs) now have a chance for a brighter future, according to government officials and industry experts. The licence will allow it to provide credit reporting services. Within a year of licensing, the bureau should be in operation. Zayar Nyunt, chief executive officer at Small and Medium Industrial Development Bank, said the bureau would help a great deal in building trust between bankers and businesses. “Trust is really important. Many SMEs in Myanmar lack capacity, skilled labour, technology and finance. Policymakers are trying to address these issues, and the credit bureau is an outstanding outcome from that,” he said. “We urgently need to raise awareness about the credit bureau. The more people know about the credit bureau, the more they will make good use of that.”
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  Central Bank of Myanmar (CBM) loans Ks 640 billion to the government to finance the fiscal deficit for the six- month interim period between 1 April and 30 September

  The government will borrow around K640 billion from the Central Bank of Myanmar (CBM) to finance the fiscal deficit for the six-month interim period between April 1 and September 30, U Maung Maung Win, deputy minister at the Ministry of Planning and Finance, said in Parliament this week. The loan represents around 20 percent of the government’s total permitted local borrowings from the CBM, which is in line with the Union Budget Law. The government is permitted to borrow K4.2 trillion, of which K3.2 trillion must be from local sources, according to the law. The aim this year is to meet up to 80pc of the government’s debt requirements with Treasury bonds and the remaining 20pc with money from the CBM. In two years’ time, it has committed to eliminating its reliance on CBM borrowing to finance the fiscal deficit, now around 3.5pc of GDP on the back of higher spending on infrastructure and social services such as education and healthcare, according to the Asian Development Bank (ADB).
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  New Planning and Finance Minister expected to rescue confidence of business community and speed up reforms especially in the banking and financial sector

  The government has to find someone who can pick up the baton swiftly and restore confidence to an increasingly frustrated business community since U Kyaw Win has resigned as planning and finance minister. With economic reforms slowing and plummeting of investor confidence, the next office-holder needs to communicate the reform blueprint to the private sector, end ambiguity over laws and policies and revitalise the reform momentum, especially in the banking and financial sector. And all of these have to be done while the clock is ticking. The cabinet-level position taking charge of the Ministry of Planning and Finance as well as the upcoming appointment of the new Central Bank Governor are the two most important posts in the executive being watched by investors at home and abroad, according to Nick Powell, managing partner of private equity firm Delta Capital. The National League for Democracy-led government’s 12-point economic plan includes supporting competition and a robust private sector based on a market-oriented system by cutting down unnecessary red tape and expanding access to credit. “We have seen some positive developments were made in the area of promotion of financial inclusion and expansion of credit to the unbanked through relaxation of regulatory restrictions in the microfinance sector by the financial regulatory department. But, more recently, the pace of reform has slowed. Clearly, access to credit across all sectors of the economy and clear regulations are important to the positive development of Myanmar,” Mr Powell observed.
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  Large volumes of natural gas will be available from Myanmar’s onshore and offshore gas fields by 2023 providing investment opportunities for international oil and gas firms (U Win Khaing, Union Minister of Electricity and Energy)

  Larger volumes of natural gas will be available from Myanmar’s onshore and offshore gas fields within the next five years, yielding fresh opportunities for international oil and gas firms to invest in the sector, said U Win Khaing, Union Minister for Electricity and Energy (MOEE). “Gas production will be a priority for the government over the next few years. However, we do not have the capital or the technology to do so. We need to cooperate with international oil and gas firms to produce the gas and in doing so make it available for the country as soon as possible,” he said. U Win Khaing’s announcement comes even as ongoing price negotiations on the import and distribution of liquefied natural gas (LNG) takes place between the MOEE and several international gas firms. The government is planning to import LNG to fill an existing shortage of electricity in Myanmar. Over the next two years, it has promised to double the current supply of electricity to 6,000 megawatts using LNG.
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  Development of Hpa- An Industrial zones has been delayed as some speculative investors have failed to make progress on developing the zones (U Soe Hlaing, Kayin State Electricity and Industrial Minister)

  Development o f Hpa-An Industrial Zone, Kayin State, has been slow to take off because some developers have failed to make progress on developing the zones, said U Soe Hlaing, Kayin State Electricity and Industrial Minister. “There are some buyers who have purchased land within the industrial zone for speculation purposes and not for development. Consequently, genuine investors have not been able to buy certain plots of land which may be more strategic for their business,” said U Soe Hlaing. He added that the necessary infrastructure needed to conduct operations within the zone have already been set up. “Roads, electricity and land space are already provided at the industrial zone but development has not started because the current land owners are holding the land to speculate on price and not for development,” he said. Kayin State is among the states in which industrial zones enjoy benefits such as tax waivers for up to seven years.
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  Construction of new circular roads in being extended to the whole Yangon Region to boost investments in outskirt areas

  YANGON- Construction of new circular roads is being extended in the whole Yangon Region to boost investments in outskirt areas, says U Than, Joint Secretary of Yangon City Development Committee (YCDC). “The current population of 5.2 million will be increasing to over 10 million by 2040 because Yangon will become a “Mega City”. As more and more of the population moves into Yangon, especially there will be developments along Circular Railroad,” said U Than. Moreover, Yangon Region Investment Committee is now discussing about establishment of industrial zones in Yangon Region with China and South Korea, according to the pre-press conference of Yangon Investment Forum 2018 held in Cooperative Business Centre on May 2nd.
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  International Finance Corporation (IFC) and Myanmar authorities released the draft Strategic Environmental Assessment (SEA) report to improve the sustainability of hydropower sector

  The draft strategic environmental assessment (SEA) report which aims to improve the sustainability of the hydropower sector was released by the International Finance Corporation (IFC) and the government. The Ministry of Electricity and Energy (MOEE) and Ministry of Natural Resources and Environmental Conservation (MONREC) led the report which has been shared with stakeholders for public review and feedback. “For the past 18 months, the SEA process has engaged stakeholders from civil society, NGOs, private sector, financial institutions and development,” the IFC, a member of the World Bank Group, said in a statement released on May 21. One major recommendation outlined in the SEA is to preserve the mainstems of the country’s key rivers – including the Ayeyarwady, Thanlwin and Chindwin among others - encouraging decision makers to explore locations that have less environmental, social and cultural risk. U Hla Maung Thein, director general of the Environmental Conservation Department under the MONREC, said that his department, having reviewed the SEA final report and recommendations, agrees with “the direction it is pointing hydropower development in”. “Recommending to protect the mainstems [principal watercourse] of Myanmar’s key rivers would be a monumental achievement with multiple socio-economic benefits, keeping the natural ecosystems of our country. We hope to see this recommendation moved forward by decision makers,” he commented.
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  Department of Urban and Housing Development under the Ministry of Construction declared its commitment to implement four mega infrastructure projects in Yangon and Mandalay in 2018

  The Department of Urban and Housing Development under the Ministry of Construction yesterday announced its commitment to implementing four mega infrastructure projects in Mandalay and Yangon regions. In Mandalay, the MOC has shortlisted six companies, one of which will be selected as Master Developer of the New Mandalay Resort City, which will be developed in Pyin Oo Lwin. The 9,893 acre project will be developed in three phases. Phase 1 will include an IT facility, convention centre, schools and a commercial zone comprising malls and banks. Phase 2 will be divided into several zones for developing sectors such as industry and tourism. The third phase will comprise housing options, a golf course as well as hotel and even agriculture zones. A Master Developer is expected to be selected by the end of this month. “This project will be developed in phases as it is huge project. We will discuss the timeline, additional investments and other details with the Master Developer,” Daw Moe Thida, deputy director at the Department of Urban and Housing Development, told The Myanmar Times.