ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

• 

  Businesses should push for better communication with the government to improve legislation on the national economy

  THE government should update the business community with the latest economic activities and manage the expectations, according to domestic and foreign investors at a recent investment forum held in the country’s capital. Investors in Myanmar would like to see a push towards further liberalisation of the economy. More people are taking part in the private sector and are investing in infrastructure projects, which serve as a major driver for the national economy. In the meantime, businesses are frustrated by the lack of clarity concerning rules and regulations, as well as the delays in reform efforts. Some important pieces of legislation, such as the new Companies Act, have been delayed.
• 

  The 4th edition of North East Connectivity Summit, held in Kohima, discussed opportunities offered by connecting Northeast India with neighbouring countries Myanmar and Bangladesh

  Speakers at a two-day forum held in Kohima discussed the potential and opportunities offered by connecting Northeast India with neighbouring countries Myanmar and Bangladesh and further afield. The Federation of Indian Chambers of Commerce & Industry (FICCI) organized “Connect North East 2017,” the 4th edition of North East Connectivity Summit from 22 to 23 September in Kohima with the support from the Government of Nagaland, India. Over 100 speakers gathered to discuss the opportunities for communication, development, trade, business and cultural exchanges offered by the opening up of India’s Northeast and connection with its neighbours. Attendees came from India, Myanmar, Bangladesh, Thailand and even a representative from Russia.
• 

  Rising local fuel price is mainly due to high fuel price at the international level and high exchange rates for exports

  high exchange rates for exports THE major reasons that the local fuel price is rising are the high fuel price internationally and high exchange rates for exports earning dollars, officials from Myanmar Petroleum Trade Association (MPTA) and gas filling stations told The Myanmar Times on September 20. Daily records of the MPTA suggest that, when compared the fuel prices on September 19 to August 18, one litre of diesel has increased considerably, between K65 and K50. The main reason is that international fuel prices have increased a lot and are much higher now.
• 

  In order to protect shareholders from further losing value, First Private Bank (FPB) is considering delisting from the Yangon Stock Exchange (YSX)

  First Private Bank (FPB) is considering delisting from the Yangon Stock Exchange (YSX) sitting sliding share prices. The board of directors of FPB met and announced the option of delisting from the nascent capi¬tal market on September 10, U Myint Zaw, CEO of FPB, said. On January 20, FPB be¬came YSX’s fourth listed company and began trad¬ing at K39,000 per share. Since, prices have trick¬led down to their current valuation of K24,000 per share. According to 27th an¬nual board of directors meeting, the companies feels this move is urgent in order to protect the shareholders from losing further value.
• 

  Chinese car manufacturers expect car production to commence in Mandalay Industrial Zone in the near future

  CHINESE manufacturer expects the production of seven types of cars to commence in Mandalay Industrial Zone in the near future, according to Yan Yu, Shining Star International Holdings (SSIHL) chair. SSIHL is involved in real estate, hospitality, property management, education, healthcare and tourism related enterprises in China and Myanmar. The exact location within the Mandalay Industrial Zone has already been chosen for the production and assembling of vehicles. The application form for the Myanmar Investment Commission (MIC) is being drafted, Mr Yu said at the China-Myanmar Economic Cooperation Forum.
• 

  Belt and Road Initiative (BRI) expects to require staggering infrastructural investment in Asia’s developing economies

  AS the top destination of Chinese investments, ASEAN means business when it comes to the Belt and Road Initiative (BRI), a trade body said. The initiative is expected to require “staggering” infrastructural investments in Asia’s developing economies. Jointly organised by the territory’s government and its trade body, the Hong Kong Trade Development Council (HKTDC), the Belt and Road Summit, under the theme “from vision to action”, was held on September 11 in the city. The city’s leader, Carrie Lam, said during the event that ASEAN economies and geography make the regional bloc a key part of Beijing’s grand design.
• 

  In order to develop the country’s transport sector, Myanmar demands US$ 60 billion in investment in the next 15 or 20 years

  THE country’s transport sector demands US$60 billion in investment in the next 15 or 20 years, according to the Ministry of Transport and Communications. Efforts to develop railways as well as the aviation and maritime infrastructure are frustrated by the lack of investment. U Win Khant, permanent secretary of Ministry of Transport and Communications told The Myanmar Times during the sideline interview at Myanmar Global Investment Forum that the three existing Kawthaung airport in Tanintharyi Region, Mawlamyine airport in Mon State and Heho airport in Shan State are going to be upgraded through a public-private partnership (PPP) system. The Myanmar Global Investment Forum was organised by Euromoney on September 12 and 13 in Nay Pyi Taw.
• 

  With the growth of trade, deep sea ports becomes an important node in the logistics network as the bulk of the cargo is moved by sea

  MYANMAR is one of the fastest growing economies in the Southeast Asia region, with GDP having risen by an average of 7 percent in the past decade. The economy has expanded on the back of rising trade. Since 2010, the volume of containers arriving in Myanmar’s ports is up three times, reaching 1 million twenty-foot equivalent units (TEUs) in 2017. This rise is projected to continue, with the International Monetary Fund forecasting GDP growth of 7.3pc on average in the next five years. With the growth of trade, sea ports have become an important node in the logistics network as the bulk of the cargo is moved by sea. It is also pertinent to note that trade in Myanmar is imbalanced, with imports exceeding exports by around four times.
• 

  DICA advocates for investment in conflict zones to provide a solution to regional conflict

  By the end of the month, the Myan¬mar Investment Commission will open a branch office in Sittwe to “provide a solution to re¬gional conflict,” U Than Aung Kyaw, Deputy Di¬rector General of Direc¬torate of Investment and Company Administration (DICA) told Myanmar Business Today. Both the Union and State governments have expressed their desire to achieve not only peace and stability in the re¬cently embattled Rakhine State, but also economic development. “Bringing long-term investment into conflict areas may provide a so¬lution to the fighting that has consumed Northern Rakhine State for the last two weeks. Investment creates job opportunities and increased standards of living for residents,” U Than Aung Kyaw said in a phone interview with My¬anmar Business Today.
• 

  Public-private sector collaboration needed to upgrade infrastructure and drive Asia towards its next infrastructure boom

  Infrastructure is essential for development. Roads, railways, ports and power supplies have helped drive Asia’s growth, allowing its people to get to work and its products to reach markets. For this momentum to continue, the region’s existing stock of infrastructure must be upgraded. A new generation of transport networks, energy facilities, and water and sanitation systems must be built. The demand for infrastructure across Asia and the Pacific far outstrips current supply, according to a recent report by the Asian Development Bank entitled Meeting Asia’s Infrastructure Needs. More than US$26 trillion will be needed between 2016 and 2030, or US$1.7 trillion a year, to deliver infrastructure that supports robust growth and is resilient to climate change. That’s double the amount currently spent each year.