ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Myanmar Investment Commission (MIC) announced that 100 percent export-oriented investments can apply for tax exemption

  The Myanmar Investment Commission announced on Sunday that it would consider businesses as 100 per cent export-oriented investments if investors supply all their finished goods and semi-finished goods locally manufactured to local businesses which are 100 per cent export oriented without supplying the domestic market. The distinction is important, because such total export-oriented investments can apply for tax exemption or relief in accordance with the section 77 (b) of Myanmar Investment Law, according to this announcement. According to section 77 (b) of Myanmar Investment Law, exemptions or relief are granted from the customs duty or other internal taxes or both on the importation of the raw materials and partially manufactured goods conducted by an export-oriented business for the purpose of the manufacture of products for export. According to section 100 (B) of Myanmar Investment Law, those currently operating enterprises without seeking approval or endorsement of MIC can submit endorsement applications in line with Myanmar Investment Law. Even if those enterprises are endorsed by MIC, they are not allowed to apply for income tax exemption embodied in section 75 of Myanmar Investment Law.
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  In cooperation with JCB Bank, AYA Bank launched AYA Universal Corporate MPU-JCB Card in Myanmar to promote smooth commercial corporation with neighboring countries

  AYA Bank an¬nounced that it has launched a cor¬porate card in Myanmar. This is the first corporate credit card targeted for business payment use ever issued in the country. The AYA Universal Corporate MPU-JCB Co-Branded Card has 2 different products: The Universal Corporate Platinum Credit Card and the Universal Corporate Gold Credit Card. All the cardmembers can enjoy the same JCB privileges as personal credit card¬members, such as JCB Plaza and special offers at selected merchants all over the world. Univer¬sal Corporate Platinum Credit Card cardmembers can also use exclusive JCB Platinum services, such as JCB Platinum Airport Lounge service, JCB Plati¬num Concierge Desk, and Special JCB Platinum Ho¬tel Services.
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  Due to lack of resources, Myanmar-based garment business have barely developed beyond cut-make-package (CMP) since 1993

  When entrepreneurs in the garment industry launch a business in newly industrialising countries, they often begin by adopting the cut-make-package (CMP) model, in which a garment factory is contracted to cut fabric, produce a product such as a dress, and then package it to be ready for shipment to another company. Moving beyond the CMP stage is a challenge for all newly industrialising countries, and perhaps more so for Myanmar, according to industry experts. While transformation from CMP to an all-inclusive company may take only a couple of years in other countries, Myanmar-based garment businesses have barely budged beyond CMP since the rise of the sector in 1993.
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  TMH Telecom Public Company will be the fifth company to list on the Yangon Stock Exchange (YSX) as trading volumes hit all- time low

  TMH Telecom Public Company will become the fifth company to list on the Yangon Stock Exchange (YSX), the exchange said Tuesday. However, it will be at least another month or more before trading in shares of TMH can commence. “TMH will be listed as a company in the official stock exchange list however trading of the company’s shares on the YSX will only begin in January 2018 at the earliest. As of now, the company still needs to conduct an Initial Public Offering which would take at least one month,” said U Thet Tun O0, senior executive manager at the YSX.
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  Since Myanmar’s economy is rebounding, International Monetary Fund (IMF) expects to see 6.7 percent growth in this fiscal year 2017-18

  An International Monetary Fund (IMF) team led by Mr. Shanaka J. Peiris visited Myanmar from November 6 −17 to conduct discussions for the 2017 Article IV consultations. The team says Myanmar’s economy is rebounding and macroeconomic imbalances are stabilizing with growth expected to rebound to 6.7 percent in 2017/18. The medium-term outlook remains favourable, albeit moderately weaker than previously anticipated and with greater downside risks. They say a second wave of reforms is needed to accelerate the growth momentum and foster inclusion, anchored on a medium-term economic plan linked to capacity development.
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  More electricity will be generated with new power plants to ensure consistent power supply next summer

  More electricity will be generated by new power plants while other plans are underway to reduce power blackouts in Yangon and Mandalay during the coming summer months between March and May, according to Yangon Region Electricity, Industry and Transport minister Daw Nilar Kyaw. An additional 439 megawatts of electricity will be generated in 2018, Daw Nilar Kyaw said at the Yangon Region Hluttaw. This includes 106 MW from the Thaketa power plant in Yangon and 225 MW from the Myingyan power plant in Mandalay.
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  Vietnam based low-cost airline, Vietjet organized a cabin crew recruitment day in Yangon: it is the first time Vietjet has recruited cabin crew in Myanmar

  Vietnam based low-cost carrier Vietjet announced on No¬vember 10th that a cabin crew recruitment day will take place in Yangon, this shows commitment of Vietjet in career develop-ment opportunities for Myanmar citizens. To keep pace with the rapid development and expansion of its domes¬tic and international net-works, Vietjet; the fastest growing airline in Viet¬nam in currently seeking dynamic and customer focused candidates from Myanmar to be qualified as the airline’s friendly and professional cabin crews. Interviews will be held at Myanmar Plaza in Yan¬gon on November 18th.
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  Although the price of rubber has fallen in the global market, international demand for rubber produced in Myanmar is on the rise

  The price of rubber has fallen below its cost of production in major exporting countries. Yet, international demand for rubber produced in Myanmar has risen and insiders reckon things could remain upbeat for a while more. “Myanmar rubber production will certainly increase on the back of rising international consumption and demand,” U Myo Thant, vice-chair at the Myanmar Rubber Planters and Producers Association (MRPPA), told The Myanmar Times. The emerging trend represents a rare opportunity for Myanmar rubber producers to secure a foothold in the global market after lagging for years behind the world’s three major rubber producing countries: neighbouring Thailand as well as Malaysia and Indonesia.
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  Tech experts recommend the Myanmar government to embrace and keep up with the pace of digital technology to develop and expand the country’s economy

  To develop and expand, Myanmar must embrace and keep up with the pace at digital technology is changing the economy and the way companies do business around the world, tech experts at the Digital Transformation Summit said. The summit was jointly held by the Myanmar Federation of Chamber of Commerce and Industries (UMFCCI) and US Information and Communications Technology (ICT) Council on November 8 in Yangon. It was attended by executives from some of the world’s largest Internet and tech firms, including Google, Microsoft, Visa, VM Ware and Oracle, who all stressed the importance of adopting digital technologies such as e-commerce platforms and social media among local businesses. “According to a global survey estimate, 40 percent of businesses will not survive if they do not evolve and adopt digital technology to keep up with disruptive competitors.
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  After three years of negotiations, ASEAN and Hong Kong signed a free trade agreement (FTA) and investment pact on the sidelines of the 31st ASEAN Summit in Manila

  ASEAN and Hong Kong signed a free trade agreement (FTA) and a related investment agreement on the sidelines of the 31st ASEAN Summit in Manila yesterday, after three years of negotiations. The agreements will bring about tariff reduction for the trade in goods and services, better market access, legal security, a dispute settlement mechanism as well as investment protection to Myanmar and the rest of ASEAN. Apart from trade and investment, the deal comprises of a chapter on Economic and Technical Cooperation (ECOTECH). Both parties, including Myanmar, have agreed to conduct ECOTECH activities in five areas: customs cooperation, professional services, small and medium-sized enterprises (SME) cooperation, trade facilitation and logistics as well as e-commerce cooperation.