ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Mastercard launched it’s a Central Bank Digital Currencies (CBDCs) testing platform to assess coming national digital currencies

  Mastercard launched it’s a Central Bank Digital Currencies (CBDCs) testing platform to assess coming national digital currencies
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  The CMP raw material imports plunged to USD $ 1.99 billion in the past eleven months beginning in October in the 2019 – 2020 financial year

  Imports of raw materials by CMP businesses have been valued at US$1.99 billion in the past eleven months beginning in October in the 2019-2020 financial year, which plunged from $2.148 billion registered in the corresponding period of last fiscal, according to the Ministry of Commerce. Myanmar’s manufacturing sector is concentrated mainly in garment and textiles produced on the Cutting, Making, and Packing basis, and it contributes to the country’s GDP to a certain extent. At present, some CMP garment factories have shut down on the reason for the lack of raw materials due to the COVID-19 negative impacts, leaving thousands of workers unemployed. Covid-19 badly battered the labour-intensive enterprises, said an official of the Directorate of Investment and Company Administration.
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  Foreign Direct Investment (FDI) flows into Thilawa Special Economic Zone (SEZ) drop USD $ 79 million when compared to the same period of previous year

  Foreign Direct Investment (FDI) of US$142 million has flowed into Thilawa Special Economic Zone (SEZ) in the past 11 months of this financial year, which is a drop by $79 million compared to that of last year, according to the figures released by the Directorate of Investment and Company Administration (DICA). According to the DICA statistics, six foreign enterprises have been granted permits and endorsements between 1 October and 28 August in the current FY, bringing in the capital of $142.297 million. During the same period of the last financial year of 2018-2019, MIC gave the green light to 16 FDIs and endorsements, and it has ploughed $221.430 million.
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  Myanmar government are fining the ways to go for Myanmar’s beans and pulses industry in quota from India and finding the new markets

  In recent years, the Myanmar bean and pulses industry often suffers from the impact of import policy changes by India, the biggest buyer of Myanmar’s beans and pulses, and whose production is on the rise. Years when crop productivity is strong, India lowers import to protect local farmers, which is a reasonable move for India. However, bean and pulses growers from Myanmar, who heavily depends on the Indian market for bean and pulses export, have to bear low prices. Thus, Myanmar authorities are trying to find a way to secure the demand for farmers such as trying to have more quota from India and finding new markets. “India has helped Myanmar and tries to take in as much as possible in spite of the fact that the Indian crops being a large one. Going forward, I think there are three solutions,” Mr. Vatsal Lilani, the president of Overseas Agro Traders Association, told Myanmar Business Today.
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  The onion growers are experiencing the loss due to the bulk supply amidst COVID – 19 resurgence

  The onion growers, as well as traders, are experiencing market fallouts due to the surging COVID-19 cases. As a result of this, workers engaged in onion depots are suffering financial hardship, said a depot owner from Mandalay. At present, there is a steady demand for China. The onions are highly yielded this year. If there is no external market beyond China, it might hurt the growers and traders. “Earlier, onions were highly demanded by Bangladesh, India and China. Now, the trade with Bangladesh and India is halted to contain the spread of the coronavirus. That’s why the price is on the decline,” said onion depot owner from Mandalay. “The prevailing prices of onions range between 400-550 per viss (a viss equals to 1.6 kg) in the domestic market depending on the size and quality. The market is regular during June and July. The growers will undoubtedly suffer a loss if the onions cannot be exported to Bangladesh and India. Indeed, the onions will be stockpiled in the market,” said a grower. Last year, Bangladesh’s demand for Myanmar’s onions coupled with high demand in the local market hiked up prices, soaring up to K4,000 per viss on 15 November 2019, according to the Mandalay commodity depot. The high demand by foreign markets and a remarkable rise in price prompted the growers to expand the onion cultivation.
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  Kayah State Government’s fast tracking of Chinese company’s proposal to invest in Loikaw’s industrial zone has angered by local communities

  The Kayah State government’s fast-tracking of a Chinese company’s proposal to invest tens of millions of dollars in a forgotten industrial zone in the state capital has angered local activists, politicians and armed groups. When the Kayah State government revealed its plan to overhaul the Loikaw industrial zone in January 2018, timber merchant U Tezar Win Tun was one of the few businesspeople to show enthusiasm. Established in the state capital in 2007 by a local military commander, the 817-acre zone lacked basic infrastructure and had always struggled to attracted businesses. Empty plots were allegedly used to store illegal timber and illicit drugs.
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  Domestic investments increased over K 300 billion in 11 months of the current financial year when compared to the same period of previous year

  Investments by Myanmar citizens in the country exceeded K1,700 billion in the past 11 months of the current financial year2019-2020, an increase of over K300 billion compared to the corresponding period of the previous FY, according to data released by the Directorate of Investment and Company Administration (DICA). Between 1 October and 28 August in the current FY, 118 local enterprises were allowed to invest in the country by the Myanmar Investment Commission and the state and region investment committees. Domestic investments have reached K1,710 billion so far, including the expansion of capital by existing enterprises, as per the DICA’s data. Domestic investors pumped K1,368 billion into 151 projects in the corresponding period of the 2018-2019 financial year.
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  Myanmar’s trade with foreign countries through border gates reached over USD $ 9.6 billion in the 2019 – 2020 financial year

  Myanmar's trade with foreign countries through border gates reached over 9.6 billion U.S. dollars as of Aug. 28 in current 2019-2020 fiscal year (FY) which started in October, according to figures released by the Commerce Ministry, Xinhua reported. During the period, the country's export via border gates earned over 6.4 billion U.S. dollars, while its import garnered over 3.1 billion U.S. dollars.
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  More than 47,000 bags reserved rice sold at fairer price within two months of this year

  Over 47,000 bags (108 pounds per bag) from reserved rice have been sold between 10 July and 8 September, according to Myanmar Rice Federation (MRF). Of them, Yangon traders made the most significant purchase with 31,990 bags, followed by Nay Pyi Taw with 4,300 bags. Additionally, 3,600 bags are sold in Mon State, while 2,420 in Taninthayi Region, 2,000 in Chin State, 1,373 in Mandalay Region, 1,000 in Kayah State, 400 in Bago Region, 400 in Magway Region and 100 in Sagaing Region. A total of 500,000 bags from reserved rice have been planned for sales. As of 8 September, 47,583 bags have been sold, and 452,417 bags are still in stock for sale. Regarding the rice purchase at a much fairer price, those interested retailers and factories can contact through mobile numbers 09-694386994/5 of MRF and 09-694386996 of Myanmar Rice and Paddy Traders Association. At present, MRF purchased the rice bags at K22,400 per pack from the Consumer Affairs Department and distribute them at K22,800 per 108-pound bag to the registered retail shops, to pay storage charges.
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  Yangon City Development Committee (YCDC) received over 1,000 building permit applications in five months of operations

  The Yangon City Development Committee (YCDC) has received over 1,000 building permit applications through the Yangon Building Permit System (YBPS), a fully automated system making all processes related to building permits including inspection requests completely online, significantly improving processing times, in just five months of operations. The YPBS was designed to boost private investment in the city’s construction sector. The system, an initiative of IFC, aims to reduce work procedures, eliminate the need for paper applications, and cut frequent meetings between staff and applicants. “The YBPS online application system has shown to be effective as building professionals can submit their applications anywhere and at any time. This had a significant positive impact during COVID-19,” said Daw Hlaing Maw Oo, YCDC Secretary.