ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

• 

  Tanintharyi regional government plans to attract European investment, mainly from French companies in core sectors: energy, construction, fisheries, tourism and agribusiness (U Phyo Win Tun, Minister of Planning and Finance)

  Myanmar’s underdeveloped Tanintharyi region bordering Kanchanaburi province plans to attract European investment mainly from French companies in the months to come, according to Phyo Win Tun, planning and finance minister of the Tanintharyi region government. “At the regional government, we frequently receive business delegations from Europe, including France, Italy, Czech as well as from other countries such as Canada, Japan, China and Thailand,” he said. Last month, the authorities received a trade delegation of 12 French companies led by French Ambassador Olivier Richard. The delegation included senior executives from famous French companies with expertise in energy, construction and fisheries sectors as well as representatives from the France-Myanmar Chamber of Commerce, the French Development Agency and the economic and trade sections of the Embassy. Phyo Win Tun said the regional authorities were pleased to have fruitful discussions with such big names as Total, Artelia Group, Byma, Engie Group, Schneider Electric, Suez Consulting and Tractebel Group.
• 

  Due to illegal exports with neighbouring countries, Tanintharyi’s fisheries industry’s potential for growth was marred

  Although fishing and marine products make up the bulk of Tanintharyi Region’s GDP, illegal exports have for years deterred the industry’s potential for growth. Without new policies and oversight, authorities warn that Myanmar will continue losing millions worth of valuable fisheries exports to illegal traders in neighbouring Thailand. Myanmar fisheries play an important role under the National Export Strategy. The government has earmarked locally produced marine products as key exports for the country. Tanintharyi currently produces the largest volume of fishery products in the country. According to the latest available data, fish and prawn sales from the region’s Myeik district amounted to $9.7 million in the month of February, which is estimated to contribute more than 17 percent of the country’s total fisheries income of $55 million over the same period, according to the Ministry of Commerce. That’s the official figure. “There are illegal sales taking place at a volume that we cannot guess, resulting in lost income for the country,” said U Win Myint, director from the Trade Promotion Department under the Ministry of Commerce (MOC).
• 

  Preparations have been made for related ministries to select prioritized projects along the China- Myanmar economic corridors supported by the Beijing- led Belt and Road Initiative (U Than Aung Kyaw, Deputy Director- General of DICA)

  Preparations are being made for Myanmar to select its priorities among planned projects along the China-Myanmar economic corridors supported by the Beijing-led Belt and Road Initiative, U Than Aung Kyaw, deputy director-general of the Directorate of Investment and Company Administration (DICA) told The Myanmar Times. Traders from China will be arriving shortly to carry out mutual negotiations. To prepare for the implementation of the economic corridors, discussions were held among related ministries to select the projects and prioritise some for development. “We’ve asked the respective ministries to tell us which projects they would like to cooperate along the corridor. We will focus on the negotiations of the projects first. The negotiation is about which projects our ministries will choose if the budget will only be given to one project when we negotiate with China,” U Than Aung Kyaw remarked.
• 

  Over the past two years, the Kachin State Government made concerted efforts to achieve all round development in every socio-economic sector to support and encourage small and medium-sized enterprises

  The Kachin State Government has made concerted efforts to achieve all-round development in all socio-economic sectors. In order to spur sustainable development, plans are under way to support and encourage small and medium-sized enterprises, development of health and education sectors, and conservation of the natural environment. The authorities concerned of the Kachin State Government have been able to serve the interest of regional residents with sweeping reforms in various spheres during two-year period of the new administration in office. With a view to ensuring the improvement of socio-economic status of local residents, peace and stability in the region and rule of law and multi-sector development, the Kachin State Government had made dramatic efforts for agricultural development, construction of bridges in both urban and rural areas, ensuring power supply and development of education, health and tourism sectors.
• 

  Due to complaints on higher land rental fare for foreign investors, Yangon regional government is planning to develop new industrial zone projects, which will allow land to be leased out by developers at a fair rate

  The government is planning to develop the new industrial zone projects in Yangon as foreign investors have to pay higher land rental, according to the pre-briefing on Yangon Investment Forum 2018, at Cooperative Business Centre in Yangon on May 2. Myo Khaing Oo, Joint-Secretary of Yangon Region Investment Committee said: “There currently are 30 industrial zones in Yangon. All land spaces in the industrial zone are owned but some lands remain idle. Foreign investors have to pay higher land rental. They also face difficulties such as higher annual land rentals as they have to hire land spaces from private owners. We have got many such complaints. The investment committee is thinking about a plan that will allow land spaces to be leased out by developers at a fair rate.” In late March, Aye Thaung, chair of Hlaingtharyar-Shwelinpan Industrial Zone claimed that it was essential to draft the Industrial Zone Law as quickly as possible as the country had no such law.
• 

  The Investment Application Guidebook, a collaborative project between DICA and GIZ Myanmar, will be launched at the Yangon Investment Forum: it aims to provide easier access to valuable information on investment application procedures

  The Investment Application Guidebook, which provide easier access to valuable information on investment application procedures will be launched at the Yangon Investment Forum developed by the DICA with technical assistance provided by the German Cooperation through Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH GIZ (commissioned by the German Federal Ministry for Economic Cooperation and Development), according to a statement. The Myanmar Investment Law (MIL), enacted in 2016, has substantially clarified and simplified the process for investment applications and offers a number of tax breaks, incentives, guarantees, rights and protections for business ventures. By creating a favorable business and investment environment, Directorate of Investment and Company Administration (DICA) and Yangon Region Investment Committee (YRIC) are continuously striving to promote private sector development in Myanmar and to boost domestic and foreign investment.
• 

  Yangon Region Government held a press conference on preparations for the inaugural Yangon Investment Forum which will be held on 9 May 2018 at Novotel Yangon Max Hotel

  Yangon Region Government on Wednesday held a press conference on preparations for the inaugural Yangon investment forum. To be organized by the Yangon region investment committee and directorate of investment and company administration, the forum is expected to attract more than 500 local and foreign investors. It will be held on the 9th of May at Novotel Yangon Max Hotel. Minister, Ministry of planning and finance (Yangon Region), Myint Thaung said "As the new investment law is approved, foreign investors show interest to invest. So the upcoming forum will give opportunities for foreign investors how to apply for investment in our country and the taxation as well."
• 

  The government-owned New Yangon Development Company Limited (NYDC) vows to release project documents of selected tenders for public scrutiny to improve transparency

  The authority responsible for Yangon’s new city development has vowed to release the project documents of selected tenders for public scrutiny, and allow third parties to challenge the awarded party. On May 2, the government-owned New Yangon Development Company Limited (NYDC) announced that the NYDC signed a framework agreement with China Communications Construction Company (CCCC), to draft and map out a programme proposal for infrastructure projects related to Phase 1 of the new city programme. The framework agreement, signed on April 30, is the first stage of the NYDC Challenge Model where a company which is qualified to undertake Phase 1 development is selected to submit a set of Pre-Project Documents (“PPD”). PPD includes technical specifications, financial proposal and business model for NYDC to evaluate. When the PPD are approved by NYDC, the documents will be made public to allow any qualified party to challenge the agreement with better terms on the basis that it strictly adheres to the terms and conditions of the tender assessment criteria.
• 

  Myanmar Pearl Enterprise (MPE) is planning to raise production of high quality local pearls by working with international companies, and sharing research and technologies among the local pearl producers

  The Myanmar Pearl Enterprise (MPE) will raise production of high quality local pearls for the purpose of selling more of the gems to international buyers and raising income. By working together with international companies, the MPE is aiming to raise the volume and quality of locally produced pearls. “We plan to invest more in research and skills training to raise the quality of local pearl culture farms and invite foreign pearl producers to establish more joint ventures with the locals,” said U Myint Thu, general manager of the MPE. “We will now prioritise quality over quantity by sharing research and technologies among the local pearl producers,” he added. In Myanmar, the cultivation and production of fresh peals is mainly conducted in Tanintharyi Region. Currently, pearls are being produced in Kawthoung and Myeik by State-owned cultivators, while private firms run pearl farms on a dozen islands in the archipelago.
• 

  Higher rubber production and control on illegal rubber exports have increased rubber exports to around 50,000 tonnes during two consecutive fiscal years (U Khaing Myint, General Secretary of Myanmar Rubber Planters and Producers Association)

  Rubber exports have increased by around 50,000 tonnes during the two consecutive fiscal years as the country sees an increase in rubber production and are able to control illegal rubber exports, said Khaing Myint, general secretary of Myanmar Rubber Planters and Producers Association. In the past, the country exported 80,000-90,000 tonnes of rubber. Since 2016-2017 FY, the country’s rubber exports have reached more than 130,000 tonnes. Till March 2 of 2017-2018 FY, the country earned US$ 179 million from exports of 136,000 tonnes of rubber, according to the Commerce Ministry. Earnings from exports of over 75,000 tonnes of rubber amounted to US$ 218 million in 2012-2013 FY, 84,000 tonnes of rubber, US$ 196 million in 2013-2014 FY, 77,500 tonnes of rubber, US$ 112 million in 2014-2015 FY, over 88,500 tonnes of rubber, US$ 101 million in 2015-2016 FY, according to the Commerce Ministry.