ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

• 

  KBZ bank launched a new One-Stop SME Banking Centre (OSBC) in Yangon to secure better access to finance

  KBZ Bank yesterday opened a new one-stop services centre to help small and medium-sized enterprises (SMEs) secure better access to finance. The One-Stop SME Banking Centre (OSBC) offers a range of services to meet the needs of growing businesses, such as enhancing access to finance and improving financial literacy. By launching the centre, Myanmar’s largest private bank seeks to facilitate the expansion of enterprises across industries, sectors and regions in the country. The centre will operate as an information hub as well, with a team of banking professionals who are well-placed to advise SMEs on managing their growth plans, cash-flow projection, financing issues and challenges. The OSBC will provide access to all KBZ core products and services, including: deposit, credit, cash management and transaction banking products. It will also offer consulting and matching.
• 

  In order to develop an international level offshore supply base in Myanmar, an Environmental Impact Assessment (EIA) workshop over the project was held in Yangon

  An offshore supply base that will support offshore oil and gas production will be implemented and constructed by Myint & Associates in Ayeyawady Region, Ngayokkaung Township, Nanthapu. An environmental impact assessment (EIA) workshop over the project was held yesterday morning at Vantage Tower, Yangon. In the years to come, offshore oil and gas production will develop. Myanmar didn’t have an international-level offshore supply base. We are relying on bases in Thailand and Singapore. This is a waste of time and money. That is why Myint & Associates is arranging to set up an offshore supply base, said Myint & Associates Company Executive Director (Government & Public Affairs) U Tint Swe.
• 

  Kawthoung becomes a tourist hotspot following the gradual development of its marine tourism

  Kawthoung, a town in the Taninthayi Region of southernmost Myanmar, has become a tourist hotspot following the gradual development of its marine tourism. Local and foreign visitors are flocking to the town in large numbers during the summer holidays, said a local tour operator. Kawthoung is an important trading point bordering the Thai border town of Ranong to the east. Most of the terrain in the area is mountainous. Thanks to the state’s new economic policy, investors are eyeing the coastal town with interest, as it has numerous beautiful natural islands for tourism development projects, resulting in an increase in the number of recreation facilities such as resorts and hotels. The town is expected to flourish in the current economic climate as the town’s smokeless industry ramps up investments.
• 

  Myanmar will promote digital economy with corporate’ aid and ultimately aims to become the digital hub in Southeast Asia

  FIVE YEARS after Myanmar’s liberalisation of the telecommunications sector, the nation has now over 50 million mobile subscribers, a figure that almost encompasses its total population, and is set for adoption of digital economy with the help of industry leaders worldwide. Myo Swe, deputy director general at the Posts and Telecommunications Department, said earlier that Myanmar would strive for enabling digital economy and multi-sectorial digital transformation including digital government, digital community and digital society, ultimately aiming to become the digital hub in Southeast Asia. The government has a policy goal to ensure that all people in a country have access and are able to use telecommunications services. More people living in rural areas now have access to technical services and applications as well as the capacity to use them.
• 

  Ministry of Commerce included 3,345 items in the Export Negative List in order to maintain food security and prevent human, animal and environmental damages

  Starting from March 2018, more than 3000 items will be included in the Export Negative List, implying that export licenses must be applied for them before they are exported, according to the Ministry of Commerce (MOC). The MOC’s notification (9/2018) will come into effect starting March 1, 2018. Its objective is to maintain food security and prevent human, animal and environmental damages, based on the items on the list. The items that require application for export license are – animals and animal products, rare plants, seeds, rice, paddy, oil and oil-producing plants, raw-product from mines, chemical products, fertilizers, explosive products, forestry products, precious gems and stones, vehicle and heavy machineries and antiques. In total, 3,345 items have been placed on the list. The notification included a warning with regards to the export of other items which will be included under a separate list, must follow the laws, bylaws, regulations, and directives released by the related ministry.
• 

  The value of petroleum imports surged due to increased domestic consumption and higher oil prices

  The value of petroleum imports totaled $3 billion during the 11-month period to end February of the current 2017-18 fiscal year. That’s at least $1 billion more than the same period last year, U Yan Naing Tun, Director General of Directorate of Trade, told The Myanmar Times. This was due to increased domestic consumption and higher oil prices, he said. There was also a higher number of vehicles as well as a higher volume of activities in mining and higher usage of power generators. “Power generators are being used in Myeik, Kawthoung and Dawei for electricity. Moreover, petroleum products are used in manufacturing, mining and transportation, where investments have risen,” U Yan Naing Tun said.
• 

  Myanmar Investment Commission has undergone a major transformation since the Myanmar Law 2016 (MIL) and the Myanmar Investment Rules 2017 (MIR)

  Laws passed in 2016 and 2017 have brought major reforms to the Myanmar Investment Commission and have been received with cautious optimism by investors. THE Myanmar Investment Commission has recently undergone a major transformation because of changes arising from the Myanmar Investment Law 2016 (MIL) and the Myanmar Investment Rules 2017 (MIR). It is important for both Myanmar and foreign investors to understand the impact of these changes if they are to benefit fully from them. Theoretically, the changes should make it easier for foreign investors to obtain long leases, which is of critical importance for most businesses. However, tax holidays under the MIL are being more restrictively applied. It will become evident over the next year or so whether the changes have brought significant benefits for investors.
• 

  Singapore listed company Memories Group makes its first acquisition in Myeik as tourists' interest rises

  Mr Serge Pun, executive chairman of Singapore-listed Memories Group, has bought luxury yachting business Burma Boating in Myeik, Tanintharyi Region, for K1.3 billion from Tint Tint Travel and Tours Company and Freepier. It is the first acquisition for Memories Group since the company listed on the Singapore Exchange in January and marks the first step forward under its strategy to build a diversified tourism platform in Myanmar. Burma Boating, which drew revenues or around $1 million last year, is a well-known luxury yachting company established in 2014 in the Myeik Archipelago, which is in southern Myanmar. Following the acquisition, Memories Group will now take ownership of Burma Boating’s flagship 85-foot Meta IV yacht, the ‘Burma Boating” brand as well as existing partnerships, contracts and bookings. “Given its luxury service and tour experience, the acquisition of Burma Boating represents an exciting opportunity for Memories Group to broaden its experiences portfolio and enlarge its footprint in the Myanmar tourism industry,” Mr Pun said in a statement.
• 

  Myanmar Strategic Holdings (MSH) is interested to invest in budget hotels and tourism in Myanmar

  Enrico Cesenni, CEO of London-listed Myanmar Strategic Holdings (MSH), an investment holding company, is eyeing investments in budget hotels and tourism in Myanmar. “We feel that there is room to grow in the budget category rather than in the more expensive categories,” he told The Myanmar Times during a recent interview. Tourism is also interesting. “The challenge now is that there iare not enough activities available for tourists who visit Yangon and Bagan. Unlike Chiang Mai in Thailand, which offers cheap food and massages as well as beach activities and sports, there is no reason for tourists to come back to Myanmar,” Mr Cesenni said. “If you stay in Yangon, after visiting the Shwedagon Pagoda in the morning, there is little to do in the afternoon due to the heat and traffic. These things need to be better thought out and organised to draw more tourists,” he added.
• 

  Italian- Thai Development (ITD)’s scandal in Thailand alarms Dawei communities and raises questions on ITD's credibility

  Is the Myanmar government on the side of the ITD or Dawei people? THE developer of Dawei Special Economic Zone (SEZ) has caused further alarm in Dawei communities as its president was mired in a major scandal in Thailand. Despite the unprecedented media outcry, the case is not expected to affect the SEZ project. Premchai Karnasuta, president of Italian-Thai Development (ITD), was arrested on February 4 after being caught with guns and animals carcasses in the Thung Yai Naresuan wildlife sanctuary in Kanchanaburi province, Thailand. Thai media reported that he was charged with nine counts of poaching in the wildlife sanctuary. Forest rangers and police allegedly found remains of a protected black leopard, pheasant and barking deer as well as hunting rifles from his campsite at a prohibited location. He would also face an additional charge for possession of illegal guns after six of the 43 guns seized from his residence in Bangkok were allegedly illegal when the investigation was expanded to his house.