ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

• 

  Although more firms are keen to be listed on the Yangon Stock Exchange (YSX), people's interest in trading on the YSX does not seem to be growing since its launch 18 months ago

  People’s interest in trading on the Yangon stock exchange does not seem to be growing 18 months after its launch but more companies are nevertheless keen to be listed, say officials. Htay Chun, a member of Securities and Exchange Commission of Myanmar, says that at least two more companies hope to complete the necessary procedures to be listed by the end of this month. “Those two companies have completed around 70 per cent of the process while another two or three have finished of it, so we hope to welcome five more in the near future,” he said. According to the official, the majority of registered public companies in Myanmar have indicated an interest in being listed on the exchange but less than 40 meet the requirements set by the securities regulator. “Only half of the registered public companies, around 155, have a licence to commence business operations,” he said. “Companies need to pay 50 million kyats (Bt1.25 million) to get the licence and must also meet all the listing criteria. For one thing, they must have more than 100 shareholders, so it is out of the question for many of them.”
• 

  In partnership with Apple and ANT financial services group, True Money improved its application and design to serve all of the financial needs of the people in the ASEAN region

  ASEAN’s leading e-payment provider, TrueMoney, announced today new and improved features for its TrueMoney Wallet application, designed to serve all of the financial needs for people in Thailand and in the ASEAN region, according to a company statement. Apart from the current services of bill payment, mobile top-up, money transfer, and online and offline payments, in the future, users will be able to transfer money to friends and family abroad, buy plane tickets and book hotel rooms, order and pay for food, borrow money and make investments in mutual funds, among other financial activities via TrueMoney Wallet. The app will also include credit rating and advance fraud prevention features. Moreover, via its partnership with Apple and ANT Financial Services Group, TrueMoney consumers in Thailand are now able to pay for purchases in the App Store, Apple Music, and iTunes directly from their TrueMoney account. TrueMoney customers with a new or existing Apple ID can select “TrueMoney” as a payment method in their account settings from their iPhone, iPad, iPod touch, and Mac, or on iTunes from their PC. The new payment option will be configured automatically and immediately allows for one-tap purchasing from their Apple devices, including the iPhone, iPad, Apple Watch, and Apple TV.
• 

  World Bank has signed a zero-interest $200 credit deal with Myanmar for Myanmar’s fiscal resilience reforms

  The World Bank has signed a zero-interest $200m credit with Myanmar to help with programmes that include better public debt management, increased tax collection and stronger public finance management. Myanmar’s first ‘macroeconomic stability and fiscal resilience development policy operation’ is aimed at accelerating economic changes needed for long-term peace and prosperity. Under the reforms contained in the policy, Myanmar will seek to promote prudent public debt management, improve the fiscal discipline of state economic enterprises and achieve more effective budgeting processes.
• 

  NLD MP's attempt to repeal the controversial subsection 66 (d) of Myanmar's telecom law was defeated in the House of Representatives

  In the deliberations on the Bill for Amending the Telecommunications Law, a National League for Democracy MP moved to repeal the controversial subsection 66(d) of the law but it was defeated in the House of Representatives. MP Aung Kyaw Kyaw Oo, from the ruling NLD party, moved a motion for repealing subsection 66(d) of the 2013 Telecommunications Law but it was defeated in House of Representatives in division by votes with 19 Yes votes and 372 No votes. In his motion MP Aung Kyaw Kaw Oo said that this subsection should be totally repealed as it is ultra vires with the 2008 Constitution, is similar to the section already included in the Penal Code, and it is being misused arbitrarily. The advocacy group Research Team for the Telecommunications Law says 17 journalists have been charged or arrested under the law since Aung San Suu Kyi's government took power last year. A total of 88 cases have been charged under this subsection of the law.
• 

  In order to develop Myanmar’s capital market and attract more business to invest in stock market, Yangon Stock Exchange Expo 2017 will be held in September 2017

  Yangon Stock Exchange Expo 2017 will be held at Park Royal Hotel in Yangon on September 10 with the aim of developing Myanmar's capital market and attracting more businesses to invest in the stock market, the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) says. Officials from UMFCCI, Yangon Stock Exchange (YSX) and the Japanese Embassy to Myanmar held a meeting on Tuesday to discuss ways to be included in the expo regarding amendments to the relevant laws, rules and procedures to attract more companies.
• 

  State Counsellor Daw Aung San Suu Kyi urged prominent bankers to collaborate in the banking sector to develop Myanmar's economy

  State Counsellor Daw Aung San Suu Kyi has urged prominent bankers to cooperate and take part in the country’s economic development at a separate meeting held at Nay Pyi Taw. She met with the chairs from 22 banks in Nay Pyi Taw on August 15. The state counsellor urged them to cooperate in banking sector for Myanmar’s economic growth, Small & Medium Industrial Development Bank (SMIDB) patron U Khin Shwe told The Myanmar Times. He added that the banking sector is the lifeblood of the economy and if the banks are not faring well, the economy cannot become robust either.
• 

  US companies are keeping an eye on political and economic reforms taking place in Myanmar to exchange views on ways to promote economic relations with the US

  There has been an enormous increase in the number of US companies keeping an eye on political and economic reforms taking place in Myanmar, said George Sibley, the deputy chief of mission of the US embassy in Myanmar. Sibley spoke alongside the embassy’s economic unit chief Alyce Abdall at an event at the UMFCCI headquarters in Yangon on August 10. The two officials discussed the Myanmar government’s cooperation with the private sector to maximise economic development and exchanged views on ways to promote economic relations with the US.
• 

  Myanmar is projected to generate a maximum of 2,700 megawatts of electricity to meet its demand for power

  In 2017, Myanmar is projected to generate a maximum of 2,700 megawatts of electricity, up from around 2,500 MW in 2016, as the population expands and demand for power in the country continues to rise. Yangon, its largest city, is expected to generate almost half, or 1,300 MW of the country’s maximum electricity demand for the year, and that is expected to rise by 30 percent per year in 2018 and beyond. Yet, that is just a fraction of the total energy consumed in Myanmar and 10pc of Thailand’s annual maximum demand. According to the Asian Development Bank’s (ADB) Energy Sector Assessment, Strategy and Roadmap dated December 2016, total final energy consumption in the country totaled some 14,000 MW in 2012-13. The bulk of that energy is produced via traditional biomass – firewood or agricultural wastes – and used mainly for cooking and lighting in rural Myanmar.
• 

  Rice export by sea reached 23,443 tonnes in the last week of July, 2017 (Ministry of Commerce)

  THE export of rice between Myanmar and international trade partners by sea increased to 23,443 tons in the last week of July, with 7,000 more than that of previous week before 23 July, the Commerce Ministry reported. Between 23 and 29 July, the country sold white rice and parboiled rice to Singapore, Bangladesh, Sri Lanka, Russia, Hong Kong, South Africa, Afghanistan and European members as well as western countries, earning US$6.809 million from the export of rice. The majority of rice has been exported to Bangladesh in the last week of July.
• 

  Developing an organic market for Myanmar’s agricultural products will help boost the value of local crops produced for export purposes and farmers’ standard of living

  Myanmar has potential to develop an organic market that will help to boost the value of local crops produced for export purposes and farmers’ standards of living. In fact, farmers in Myanmar already use less chemical fertilisers and pesticides compared to their neighbours, yet many are reluctant to venture into the organic market owing to transport hindrances and high costs, said U Wann Tin, owner of Sein Le Oo Organic Farm, which produces organic mushrooms. “Farmers here are aware of the dangers and are already avoiding the use of chemicals when planting fruits or vegetables,” U Wann Tin said.