ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Ministry of Industry and Myanmar Promotion Services organized an exhibition on SME products to boost economy

  Myanmar kicked off a three-day exhibition for SME products, aiming to develop industries and technologies vital to the country’s future development and enhance innovation and creativity. The exhibition is organized by the Ministry of Industry and Myanmar Promotion Services, from 25-27 August 2017, at MICC-2 in Nay Pyi Taw. The development of industrial and technological sectors will play a crucial role in Myanmar’s future growth. SMEs can also play an important role in linking local and foreign markets. That’s why the goals of this exhibition are:to introduce international technologies to help further the development of Myanmar’s SME sector;to enhance public awareness of domestic and international technologies; to expand value-added production and the use of advanced technology, by undertaking technology exchange, and increasing cooperation and coordination between public and private organizations;to encourage domestic creativity and innovation. In line with its SME development policy, by hosting SME exhibitions, the government aims to drive the country’s economic growth, encourage the role of entrepreneurs and SMEs and build connections with the regional and global communities.
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  Pilot project illustrates that semi-trailer swapping at Mae Sot-Myawaddy border halves the time spent on travelling between Thailand and Thilawa SEZ and is thus an effective cross-border logistics solution

  Sending a container from Panomsarakarm to Thilawa SEZ takes 2.5 days, whereas conventional logistics needs 4-5 days and ocean freight takes approximately 3 weeks. A pilot project which uses semi-trailer swapping with bonded cargo has halved the time needed to reach Thilawa SEZ from Thailand compared to conventional road freight. Despite numerous problems, the scheme represents a step towards efficient and barrier-free trade between Mae-Sot and Myawaddy, making cross-border logistics a potential option for a wide range of suppliers. The trial was supported by the Ministry of Transport and Communications and carried out by Myanmar International Freight Forwarders Association (MIFFA), Thilawa-headquartered Daizen Myanmar and Malaysia-based Overland Total Logistic Services (OTL). The Ministry of Transport and Communications and MIFFA outlined four steps to improve logistics at the Thai-Myanmar border’s major trading point between Mae-Sot and Myawaddy. The first step involves manual transloading; the second one refers to the exchange of containers with crane-lifting; the current pilot scheme utilises semi-trailer swapping; and the ultimate goal is to have a system allowing the free flow of trucks cross the border.
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  In order to boost productivity, quality and development skills in Myanmar's agricultural sector, IFC will support and sign an advisory agreement with the Ministry of Agriculture, Myanmar

  IFC, a member of the World Bank Group, signed an advisory agreement with Myanmar’s Ministry of Agriculture, Livestock and Irrigation (MoALI) on August 25 to support its efforts with boosting sector productivity, quality and skill development. The technical assistance programme is supported by the Department of Foreign Affairs and Trade of Australia, the Department for International Development of the United Kingdom and the Government of Japan. The country’s agricultural sector is a key pillar of the economy and provides employment to about 53 percent of the labor force and is a source of livelihood for about 70 percent of the rural population. Through this agreement, IFC’s technical assistance will support the government’s objective of increasing the productivity, market access and competitiveness of the agricultural sector by improving the provision of quality inputs to farmers. As a driver of growth and innovation, the private sector will play a significant role in assuring quality seeds, fertilizer and crop protection products reach farmers efficiently. A strong balance between efficient markets and effective regulation is needed along with an improved way of working together for the government and private sector.
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  NLD Economic Committee strengthens itself by appointing an economic expert and certified public accountant as two new members

  The Economic Committee for the National League for Democracy (NLD) government has recruited two additional members. They are economic expert Dr. Aung Ko Ko and Certified Public Accountant U Win Tin. The appointments, which are expected to reinforce the NLD Economic Committee, come shortly after State Counsellor Daw Aung Sang Suu Kyi said she would take a direct and active role in handling state economic affairs.
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  Myanmar Investment Commission gives regional and state investment commissions 15 working days to review applications from investors

  The Myanmar Investment Commission will retain the power to approve or reject applications for tax incentives. Regional and state investment commissions are given 15 working days to review an application once they have accepted a submission from an investor, according to Notification No 25/2017 released by the Myanmar Investment Commission. The Myanmar Investment Commission (MIC) has released the latest procedures for state and regional investment commissions in assessing various types of applications. The new Investment Law enacted and promulgated earlier this year has delegated power to regional authorities. Regional and state investment commissions have the authority to approve investment proposals without having to seek permission from the MIC. Exceptions include capital intensive investments, investments with considerable environmental impacts and sectors asked by the Union government for scrutiny will need to ask the MIC for approval. The maximum amount of investments which can be approved by regional and state investment commissions is US$5 million (K6 billion).
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  Union Minister of Industry makes the case for Myingyan Steel Mill in Parliament to promote the production of 400,000 tons of steel annually

  Upon the Myingyan No-1 Steel Mill completion, it will be capable of producing 400,000 tons of steel annually, a material Myanmar industry desperately demands, U Khin Maung Cho, the Union Minister of Industry, told Parliament. The Union Minister urged the importance of the forthcoming steel mill and stressed the importance of finalizing construction as soon as possible. “A domestic producer has great potential in the wake of a national up¬swing of infrastructure and commercial development which rests upon large inputs of steel,” U Khin Maung Cho said. Currently, production is limited to 100 small private enterprises producing 70-100,000 tons of steel a year and a small number of public companies such as Myanmar Steel.
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  In order to boost and revitalize local peanut oil production, Myanmar peanut producers are slated to receive technical and mechanical support from Taiwanese agriculturalists to supply 50% of domestic consumption by 2020

  Myanmar peanut oil producers are slated to receive technical and mechanical support from Taiwanese agriculturists to supply 50 percent of domestic con¬sumption by 2020, U Khin Soe, Chairman of Myan¬mar Oil Millers Association (MOMA), told Myanmar Business Today. Myanmar imports near¬ly 90 percent its edible oil. In order to minimize the market’s reliance on imports, MOMA is seek¬ing Taiwanese support to ramp local production up to 50 percent, U Khin Soe, said. “Myanmar consumes a million tons of edible oil annually with local pro¬ducers only supplying 10 percent of the demand. We aim to balance that ratio by increasing the volume and efficiency of oilseeds and peanuts cul¬tivation. If we can culti¬vate 3 million acres yield-ing 3.2 tons of peanuts per acre a year, we will be in range of self-sustaina¬bility,” U Khin Soe said. Current productivity sits at a dismal 1.3 tons of pea¬nuts per acre. Taiwanese peanut farmers, who on average produce 4.9 tons per acre, are being con¬sulted by MOMA for their expertise and mechanical equipment.
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  To support national level construction projects, local engineering firm SafeBiz Engineering Co. Ltd. has signed a franchise agreement with Malaysian IPM Engineering Sdn. Bhd

  Local engineering firm SafeBiz Engi¬neering Co. Ltd has signed a franchise agree¬ment with Malaysian IPM Engineering Sdn. Bhd on August 11. The signing ceremony took place at Sedona Ho¬tel and was attended by the Managing Directors of both firms as well as rep¬resentatives of the Myan¬mar Engineering Council and Myanmar Engineer¬ing Society. SafeBiz has been very active in Mandalay, Yan¬gon, and Tanintharyi con¬struction consulting and related services since its inception in 2015. The company has joined forc¬es with its ASEAN neigh¬bor to expand its level of technical expertise and better adopt international practices.
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  Half-day seminar on labour law targeted at factories in Myanmar was hosted by SMART Myanmar and GIZ at UMFCCI

  The European Union funded SMART Myanmar project and GIZ’s Social and Labour Standards in the Garment & Textile Sector in Asia (SLSG) project jointly organized a half-day seminar on labour laws most relevant for factories in Myanmar. Although initially aiming to host about 70 managers and staff, over 200 individuals attended to hear lawyers from Luther Law firm answer questions on existing labour laws in Myanmar, according to a statement. “Attendance at the seminar far exceeded our expectations. I believe most factories are interested to comply with Myanmar’s existing labour laws, but it is often not simple.Sometimes laws are inconsistently applied and this can create immense confusion for factory managers. We hope today brought some added consistency and clarity.” said Mr. Jacob A. Clere, SMART Myanmar Team Leader.
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  Myanmar Chemical & Machinery company (MCM) will fork out over US$ 96 million to build an offshore base on Made Island, Rakhine State

  Myanmar Chemical & Machinery Co (MCM) will fork out over US$96 million (K130 billion) under the Myanmar Citizen Investment Law to build an offshore supply base on Made Island in Kyaukphyu, Rakhine State, project director U Tin Soe told The Myanmar Times. The location lies along the 1,000-mile Rakhine-to-Kawthoung coastline, where a host of international oil companies are currently conducting oil and gas exploration works across 37 offshore blocks in Rakhine, Moattama and Tanintharyi. Earlier this month, gas was discovered at Block A-6, off the coast of Southern Rakhine, at water depths of up to 4,570 meters. Two earlier discoveries, at 200 meters and 2,034 meters respectively, were made in 2012 and 2015. Now, plans are being laid out for a fourth well to be drilled at Block A-6. To meet the anticipated demand for offshore storage and personnel housing services when production begins at those fields within the next few years, Myanmar will need its own offshore supply base situated nearby.