ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  The first four days of the 54th Gem Emporium in Nay Pyi Taw sold over 3,400 lots of jade worth €240 million (U Min Thu, Jade Business Community Secretary)

  Over 3,400 lots of jade have been sold for a total of €240 million in the first four days of the 54th Gem Emporium in Nay Pyi Taw, Jade Business Community secretary U Min Thu said. The sales figures are 998 jade lots sold on August 6 for €50.48 million, 753 lots sold on August 7 for €71.82 million, 857 lots sold August 8 for €78.42 and 842 lots sold August 9 for €48.15 million, according to the official tally. That’s a total of 3,443 jade lots sold between August 6 and 9, raking in a total of €248.86 million. A total of €500 million in sales has been targeted for this year.
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  Myanmar Fishery Industry expects fish exports to reach US$ 700 million in the fiscal year 2017-18

  Fish exports in the 2017-2018 fiscal year are expected to top $700 million, up from last year’s $605 million, said U Khin Nyunt, Direc¬tor of Myanmar Fishery Department(MFD) under the Ministry of Agricul¬ture, Livestock and Irriga¬tion. “Myanmar fishery has been showing signs of healthy growth and in¬creased productivity. However, the ministry should maintain an ac¬tive presence to ensure that fish breeders are equipped with the best technology and industry innovations so yields re¬flect target levels of pro-duction,” MFD’s Director U Nyunt Khin, said.
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  Yangon will deploy 25-megawatt mobile generator to meet the city’s electricity demand during peak periods and emergencies

  Yangon will deploy a new K30 billion (US$22 million) 25-megawatt mobile generator to meet the city’s electricity demand during peak periods and emergencies. The TM2500 generator (pictured below) by GE Myanmar will be funded under the President’s Reserve Fund. GE and its partner, Golden Green Energy, transferred the TM2500 to the Yangon Region Government in the first week of August. The mobile generator, which was delivered to the government within 60 days after the agreement, will be managed by Myanmar Electric Power Enterprise and Yangon Electricity Supply Corporation under the Ministry of Electricity and Energy.
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  Gas has been discovered at a deep water exploration well in Block A-6 of the Southern Rakhine Basin and tested to be flowing at 50 million cubic feet per day

  Gas has been discovered at a deep water exploration well in Block A-6 of the Southern Rakhine Basin in the Bay of Bengal, according to government officials and statements made by operators of the block. Gas was tested to be flowing at 50 million cubic feet per day. Test drilling began at the Pyi Thit-1 appraisal well on June 10. The well, which is located in the south of Rakhine and approximately 90 kilometers west of Pathein, Ayeyarwady, was drilled to depths of 4,570 meters on July 15. A 63-meter column of gas was discovered at 3,542 meters. Following a drill stem test performed across a 29 meter section of the column, gas was found to flow at 50 million cubic feet per day.
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  The Thai Commerce Ministry’s Department of Foreign Trade led a delegation to Shan State to discuss the promotion of trade and investment between the two countries

  The Thai Commerce Ministry’s Department of Foreign Trade has taken a delegation of private business and public officials to Shan State to discuss the promotion of trade and investment between the two countries, Thailand’s the Nation newspaper reported on 7 August. According to the report, the move is in line with Commerce Minister Apiradi Tantraporn’s policy of further expanding business ties in the CLMV (Cambodia, Laos, Myanmar, and Vietnam).
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  The Memorandum of Understanding (MoU) between China and Myanmar relating to a national-level framework for Kyauk Phyu Economic Zone is likely to be signed by August 2017 (a spokesperson of Kyauk Phyu SEZ Management Committee)

  An MoU between China and Myanmar relating to a national-level framework for the Kyaukphyu Special Economic Zone (SEZ) is likely to be signed by August, a spokesperson of Kyaukphyu SEZ Management Committee told The Myanmar Times during an exclusive interview on August 4. Currently, the equity share and terms and conditions between China’s CITIC consortium and Myanmar Kyaukphyu SEZ Holding Company (MKSHC consortium) is still being negotiated but a deal is expected within the month of August, said Dr Oo Maung, vice-chair of Kyaukphyu SEZ Management Committee.
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  More than 9,500 tonnes of motorcycles worth US$ 4.724 million from neighboring countries were imported through cross-border trade stations from 15 to 21 July 2017 (Ministry of Commerce)

  MYANMAR imported more than 9,500 tonnes of motorcycles worth US$4.724 million from neighbouring countries between 15 and 21 July through cross-border trade stations, the Commerce Ministry reported. The number of imported motorbikes was over 500 more than the previous week import. The country purchased about 9,000 motorbikes in the previous week through Muse, Myawady and Tamu border gates.
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  After the monsoon season, a special project will be introduced in Twante Township to revive Yangon Region’s fishing industry

  A special project to revive Yangon Re¬gion’s fishing in¬dustry will be introduced in Twante Township after monsoon season, Yan¬gon’s Chief Minister U Phyo Min Thein said at a UMFCCI meeting on July 20. Twante Township is home to Yangon Region’s top fish breeders and is located less than 50 kilo-meters from Yangon in¬dustrial ports. “Developing Yangon Region’s fishing indus¬try has great urgency be¬cause of its potential for boosting GDP and local job growth,” U Phyo Min Thein, said. Myanmar Fisheries Federation (MFF) will work closely with local fish breeders to maximize production, offer techno¬logical innovations, and address chronic industry problems.
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  Myanmar ranks 170 in World Bank's Doing Business report for 2017

  The World Bank released its Doing Business report for Myanmar in 2017. Based on the findings, Myanmar ranks 170 in ease of doing business this year, up from 171 in 2016. The country now has a population of almost 54 million, and a gross national income per capita US$1,293 per year. At 170, Myanmar actually trails all its neighbours in ASEAN in the ease of doing business (see Chart 1). But it is aiming to raise its rank to at least 100 or less within the next few years. Published every year, Doing Business sheds light on how easy or difficult it is for a local entrepreneur to open and run a small to medium-size business when complying with relevant regulations. It measures and tracks changes in regulations affecting 11 areas in the life cycle of a business.
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  Although coffee can be one big export product in the future, the industry needs support from the government to produce crops and protect local growers before competing in the international market (U Ye Myint, Chair of Myanmar Coffee Association)

  Coffee could be the next big export product for Myanmar. But the industry needs support and protection from the government to produce the crop and before local growers start competing in the international market, Myanmar Coffee Association chair U Ye Myint, told The Myanmar Times. Myanmar is one of the few countries to cultivate and harvest high-grade coffee beans. Over the last few years, the country has exported growing quantities of coffee beans and now has a reputation for producing high quality coffee. In 2015-16, Myanmar exported a total of 1,137 tons of coffee beans, more than double what it exported in 2011-12, according to data revealed by the Department of Trade.