ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Myanmar Trade Promotion Organization and Myanmar Fruit and Vegetable Growers’ Association discuss the prioritization of fruit and vegetables in the national export strategy

  The Myanmar Trade Promotion Organisation at the Ministry of Commerce and Myanmar Fruit and Vegetable Growers' Association are discussing the prioritisation of fruit and vegetables in the national export strategy. Exports play a crucial role in developing an economy, and fruit and vegetables could form a key part of the strategy, said Aung Soe, director general of the Trade Promotion Organisation. Chairman of the growers' association Soe Than Min Din called for the establishment of fruit and vegetable wholesale centres in every district of Yangon Region, like Danyingon wholesale centre under construction, as trading at Thiri Mingalar Market alone caused waste and delays.
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  A proposal to construct the 33 agribusiness service centers in states and regions was submitted to Myanmar Investment Commission (MIC)

  Myanmar’s Agribusiness Public Corporation (MAPCO), the Myanmar Rice Federation (MRF) and the China International Trust Investment Corporation (CITIC) Group submitted a US$400 million proposal to Myanmar Investment Commission (MIC) to construct the 33 agribusiness service centers in states and regions. “We will construct the 33 agribusiness service centers as soon as possible,” said Dr. Soe Tun, the Myanmar Rice Federation MRF vice chairman. “Currently, we are waiting for the permission from MIC. The estimated cost of the whole project is US$400 million. Now, we are seeking contracts for international loans.”
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  Mandalay region likely to reach US$ 600 million foreign direct investment (FDI) target in the fiscal year 2017-2018 since it had already exceeded US$ 582 million in June 2017

  The Mandalay region is set to achieve its US$600 million foreign direct investment (FDI) target for 2017-18. FDI in April-June has already exceeded US$582 million, which is around 90 per cent of the target, data released by the Mandalay Region Investment Committee showed. Under the new Myanmar Investment Law enacted in Oct 2016, Region and State investment committees have been given the authority to approve investment activities across Myanmar. Formed with an aim to facilitate potential investors, the Mandalay Region Investment Committee comprises Chief Minister Dr. Zaw Myint Maung as chair, while members include a Region Planning and Finance Minister, Electricity, Energy and Construction Minister as well as the Regional Industrial Supervision and Inspection Department, Directorate of Investment and Company Administration (DICA) and Planning Department (PD).
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  Myanmar Banking and Payment Conference sent a key message to the banking and financial sectors to harness the benefits of the digital revolution and adapt themselves to be relevant and meet customer needs

  Banking and financial sectors need to harness the benefits of the digital revolution and adapt themselves to be relevant and in meeting the customer needs. This has been the central message of the two-day Myanmar Banking & Payments Conference in Yangon from 24-25th July 2017. In his opening key note address, Sean Turnell economic advisor to the government pointed out that the macro stability has been achieved to a greater degree during the past one year and reforms in banking and financial sector are on track to propel the economy. Pointing out that mobile banking law, easing the operations of micro finance institutions and commitment to adoption of Basel norms by the central bank are some of the positive features in the sector. Steps like limiting the borrowing of the government from the central bank, debt scrutiny, tax reforms and development of capital markets and bond markets are some of the notable developments that give an optimistic outlook for the future. Reforming the state owned banks is also on the agenda of the government to ensure that they are relevant to meet the growing demands of the people.
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  With help from a World Bank loan and international guidelines, Yangon City Development Committee (YCDC) will solicit tenders for the overhaul of Yangon’s flooding and natural disaster infrastructure

  The Yangon City De¬velopment Com¬mittee (YCDC) will solicit tenders for the overhaul of Yangon’s flooding and natural dis¬aster infrastructure with the help of a World Bank loan and international guidelines. The World Bank created the Myanmar Southeast Asia Disaster Risk Man¬agement Project (DRMP) as a solution to the havoc monsoon’s yearly flooding and inundation wreaks on Yangon’s urban ar¬eas, according to Dr. Tin Tun Oo, Deputy Official of Engineer Department of Yangon City Develop¬ment Committee (YCDC).
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  Myanmar government plans to boost sugar production to reduce reliance on sugar import

  The government plans to boost sugar production to reduce the nation’s reliance on sugar imports and re-exports, according to a report of yesterday’s edition of City News. Myanmar re-exports sugar sourced from Thailand, India and Pakistan to China since locally produced sugar is substandard due to lack of quality machinery. Myanmar is planning to establish a state-of-the-art sugar mill and to adopt quality sugar cane cultivation methods with assistance from sugar-growing nations including Brazil.
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  Myanmar plans to boost the fisheries sector to accelerate GDP growth after the current monsoon period (U Phyo Min Thein, Yangon Region Chief Minister)

  A plan to boost the fisheries sector will be drawn and implemented after the current monsoon period to accelerate GDP growth in Myanmar, Yangon Region Chief Minister U Phyo Min Thein said. The plan will be implemented in the Twante and Yangon areas, he said at the meeting with the vice president and businesses. “The current government is very much interested in the fisheries sector. The sector can contribute immediate benefits for faster GDP growth. So, negotiations are underway to implement a special fisheries project in Twante and other suitable locations. It will start after this monsoon season,” he said. According to Central Bank of Myanmar (CBM), current Myanmar GDP growth rate is 7.3 per cent. The livestock and fisheries sector is the second largest contributor to the country’s GDP, according to the Ministry of Commerce.
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  In order to boost the country’s agriculture and husbandry industries, the government may offer loans to farms and lift the ban on livestock export (Ministry of Planning and Finance)

  The government has signalled its latest measure to boost the country’s agriculture and husbandry industries by offering loans to farms and lifting the ban on livestock export, according to the Ministry of Planning and Finance. At a meeting with Vice President U Myint Swe and businessmen on July 20, Union Minister for the Ministry of Planning and Finance U Kyaw Win said that the administration will issue loans to farmers and allow them to export livestock.
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  The government recommends over 1,000 domestic small and medium-sized enterprises (SMEs) to receive bank loans (Central Department of Small and Medium Enterprises Development – CDSMED)

  The government has recommended over 1,000 domestic small and medium-sized enterprises (SMEs) to receive loans from banks, according to the Central Department of Small and Medium Enterprises Development (CDSMED). More than 1,000 SME among an estimated 9,000 in Myanmar have been recommended by the CDSMED to receive loans, an official from the department told The Myanmar Times. There are 46,794 industries officially registered at the Ministry of Industry in Myanmar. The department issues membership cards to local SMEs and its membership numbers at approximately 9,000.
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  Department of Civil Aviation (DCA) calls for tenders to upgrade the existing three domestic airports - Kawthaung airport in Tanintharyi Region, Mawlamyine airport in Mon State and Heho airport in Shan State

  The Department of Civil Aviation (DCA) is going to call for tenders to upgrade the existing Kawthaung airport in Tanintharyi Region, Mawlamyine airport in Mon State and Heho airport in Shan State. The tender call invites developers who are interested to upgrade the infrastructure projects through a public-private partnership (PPP) system, U Ye Htut Aung, deputy director general of DCA told The Myanmar Times. Public-private partnerships between a government agency and private-sector company can be used to finance, construct and operate projects, such as night markets and public road networks.