ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Local and foreign investors are invited to send an expression of interest (EOI) to enter a partnership with No.21 Heavy Industry (Thaton) under the Ministry of Industry during April 30 to May 31, 2018

  No.21 Heavy Industry (Thaton) of the Ministry of Industry in Thaton Township, Mon State, will go into partnership with local and foreign entrepreneurs, according to ministry sources. Interested local and foreign companies are invited and to send an expression of interest (EOI) to the management section of No.2 Heavy Industry under the Ministry of Industry. EOI can be sent from April 30 to May 31. Although state-owned factories and industries have been suspended due to losses, plans are now underway for some to continue manufacturing products necessary for the country. Union Minister for Planning and Finance, Kyaw Win, said the factories that have been making losses since 2010 would be handed over to the private sector.
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  Charcoal production in Myeik has been increasing due to higher domestic demand and a discovered large, unrecorded volume of charcoal being illegally exported to Thailand

  The production and sale of charcoal in Myanmar has been on the rise in recent years and not just because of domestic demand. Based on an investigative trip to Myeik, Tanintharyi Region, recently, The Myanmar Times learned that a large, unrecorded volume of charcoal is being illegally exported to Thailand. In Yangon, demand for charcoal to grill food is widespread. Compared to other cooking substitutes, charcoal is cheaper and generates heat for much longer. “People prefer buying charcoal. The price is K 800 per viss. Grilled food shops usually buy more charcoal compared to teashops and other food stalls,” a charcoal seller from Thaketa market told The Myanmar Times. At Yangon’s 19th Street for example, stalls selling grilled food consume about 2 viss- 4 viss of charcoal per day. Demand for charcoal is high not just in big cities like Yangon and Mandalay though. In areas like Myeik and Kyunsu township, Tanintharyi Region, which do not receive electricity from the national grid, residents have for years depended on charcoal produced from the forest for cooking.
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  Ministry of Commerce held the coordination meeting in Nay Pyi Taw to boost trading and investment

  A coordination meeting to boost trading and investment was held at the meeting hall of the Ministry of Commerce on 24 April in Nay Pyi Taw. At the meeting, Deputy Minister for Commerce U Aung Htoo said, “The coordination meeting is being held with the aim of holding a private dialogue to discuss some issues which are under negotiation and to deal with some proposals made by the chairman of the Private Sector Development Committee. There are some 19 points which are still under discussion by the nine associations.”
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  Myanmar and Korea have agreed to enhance existing bilateral economic relations by promoting trade, investment, and sharing of technology, while also discussing the establishment of Myanmar-Korea industrial zone for export of automotives

  State Counsellor Daw Aung San Suu Kyi on Monday received Mr Kim Hyun-chong, Minister of Trade, Industry and Energy of Korea in Nay Pyi Taw, according to state-owned media. During their meeting, the leaders agreed to enhance existing bilateral economic relations by promoting trade and investment as well as sharing technology. South Korea is also welcome to establish new industrial zones in Myanmar. Mr Kim also met with Minister of Commerce Dr Than Myint in Nay Pyi Taw. The ministers discussed establishing an industrial zone for Korean companies to draw further foreign direct investments into Myanmar. The focus of the Myanmar-Korea industrial zone will be to set up an automotive hub to manufacture and assemble Korean vehicles for export purposes, said U Yan Naing Tun, Director General of the Trade Department under the Ministry of Commerce. State Counsellor Daw Aung San Suu Kyi on Monday received Mr Kim Hyun-chong, Minister of Trade, Industry and Energy of Korea in Nay Pyi Taw, according to state-owned media.
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  Myanmar- Korea Trade Ministers' meeting held in Nay Pyi Taw to discuss increasing cooperation on trade and investment, establishing and industrial zone for Korean companies investing in Myanmar, and training in Korea for government employees, among other things

  A Myanmar-Korea trade minister-level meeting was held at the Ministry of Commerce, Nay Pyi Taw, yesterday morning, where Union Minister for Commerce Dr. Than Myint and minister of the Ministry of Trade, Industry and Energy (MOTIE) Kim Hyun-chong addressed the meeting. At the meeting, matters relating to increasing cooperation in trade and investment, establishing an industrial zone for Korean companies investing in Myanmar, establishing a Korea Desk, increasing cooperation between the Ministry of Commerce, Trade Promotion Department and Korea Trade-Investment Promotion Agency (KOTRA), sending government employees to Korea for training to increase the usage of news and information in the trade sector, providing technical support on setting up a database to implement e-commerce, activating and implementing the Trade and Investment Promotion and Protection Agreement already signed between Myanmar and Korea, supporting and encouraging good economic and trade relations between the two governments in order to discover opportunities to increase bilateral trade, were discussed.
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  Over the past two years, Yangon Regional Government has carried out its efforts for both local and foreign investors to start their operation at the industrial zone in Yangon in order to create job opportunities and achieve all- round development in all socio-economic sectors

  Yangon Region Government has carried out the works for both local and foreign investors to be able to start their operation at the industrial zones in Yangon with a view to increase the job opportunities. In order to achieve all-round development in all socio-economic sectors in accordance with economic policy set by the State, the Yangon Region Government is undertaking the works to support and encourage the small and medium scale enterprises, the development of health and education sectors, and conservation of natural environment. Yangon’s Urban Planning The Yangon Region Government is now striving to put the budget spending system up to the international norms and to bring about the collective effort of government and community for the development of health and education sectors in Yangon. As for the Yangon Region Government, efforts are being made to promote the socio-economic status of the people in the city.
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  Investor interest in the New Yangon City project from China, South Korea, and ASEAN has been increasing and the project is expected to attract more FDI (U Phyo Min Thein, Chief Minister of Yangon Regional Government)

  Since its launch in early April, investor interest in the New Yangon City project from China, South Korea and ASEAN has been on the rise, Yangon Chief Minister U Phyo Min Thein said during a press conference at the 2018 Yangon Investment Forum on April 20. The Yangon Region Government is now courting foreign direct investments to develop the project. So far, interest in providing the infrastructure needed for the development of New Yangon City has been particularly high, U Phyo Min Thein said. There have already been proposals to construct two bridges, which will provide access to the new city as well as link the city to the main roads connecting to the rest of Yangon. Others have also proposed to construct new roads in the city. Meanwhile, there has also been a request to lease over 2,000 acres of land for development within the new city, U Phyo Min Thein said. The chief minister did not provide the names of the companies.
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  Potential sites will be chosen to build a Myanmar- China border trade cooperation zone under an agreement on the establishment of a bilateral border trade cooperation zone between the two countries

  Potential sites will be chosen to build a Myanmar-China border trade cooperation zone, according to the Ministry of Commerce. “Our Head of State signed an agreement on the establishment of a bilateral border trade cooperation zone during a visit to China in May last year. Under the agreement, we studied potential sites,” said Yan Naing Tun, director general of Trade Department of the Commerce Ministry. “First, both countries must choose a site to build the zone. In this process, an agreement is necessary. The previous agreement is a memorandum of understanding. After the agreement has been signed, we will go according to the process and procedures,” he added.
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  Agriculture is a fundamental sector for Myanmar's economic development, contributing to self sufficiency, foreign exchange, and 25% to GDP yearly with 18.9 percent from paddy farming and 8.2 percent from livestock breeding and fisheries

  Agriculture is key to Myanmar’s economic development as her economy is based on farming. The agriculture sector contributes 25 % to GDP yearly with 18.9 per cent from paddy farming and 8.2 per cent from livestock breeding and fisheries. During the second year in office of the incumbent government, the Ministry of Agriculture, Livestock and Irrigation introduced modern farming method in the interest of farmers and this proved to be more cost effective in terms of agricultural inputs including seeds. Its efforts for farmers also include disseminating agricultural knowledge to farmers, growing crops in time, mitigating loss and wastage, transforming farming into mechanized agriculture, etc. To turn these goals into action, the ministry actively cooperates with experts within and without the country, development partners, investors and especially with farmers. As land use, availability of water for agriculture purpose, capital investment, applying machineries, practicing cooperative system, rural development, research and development, value-added production, market expansion, human resource development and environmental conservation are essential for agriculture development, the ministry has laid down work plan in the respective fields.
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  Myanmar Investment Commission (MIC) permits full foreign capital investments in private schools in Myanmar

  The Myanmar Investment Commission (MIC) has permitted foreigners to make full capital investments in private schools in Myanmar, according to Notification 7/2018 issued by the MIC on April 20. This means foreigners will now be able to fully own and operate private schools teaching a curriculum prescribed by the Ministry of Education (MOE) or an international curriculum. International service providers will now be able to make investments in basic education schools, technical, vocational and training schools, higher education schools, subject-based schools and private schools designated by the MOE, according to the notification. The move is good news for local students, who will now be able to choose from more international education options, Daw Khin Hnin Soe, principal and director of Myanmar Metropolitan College, said. Even before the notification was released, foreign interest in the Myanmar education sector had been on the rise. Earlier this month, London-listed Myanmar Strategic Holdings (MSH) and Auston Institute of Management announced a joint venture to set up and operate a private school in Yangon.