ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  A general car importing policy will be issued to put an end to the current confusion in the industry (Commerce Minister U Than Myint)

  The government will issue a general car importation policy within the year to put an end to the current confusion in the industry, Commerce Minister U Than Myint told The Myanmar Times. At present, there are several policies related to car importation. This has created confusion among the “legitimate vehicle importers” and the government will seek to clarify the policy, he said. In Yangon, for example, licenses for importing cars are still suspended. This suspension has lasted over a year. Yangon Chief Minister U Phyo Min Thein said that the government will move on to sort out the license issues after upgrading the Yangon Bus Service (YBS). The Yangon regional government has upgraded public buses under the new YBS. The YBS will be reaching its six-month marker in July but the Yangon chief minister is still unable to deliver a clear, defined policy concerning Yangon license permits needed for car importation.
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  To ensure the country’s energy security, the government is currently streamlining its policy for the power sector: coal can be one of the options (Department of Electric Planning under the Ministry of Electricity and Energy)

  The government is currently streamlining its policy for the power sector to ensure the country’s energy security and coal can be one of the options, according to Daw Mi Mi Khaing, director general of Department of Electric Power Planning under the Ministry of Electricity and Energy. Apart from energy security, the government is also taking into account the environmental and social impacts of energy projects as well as the pricing of power generation so the people and the industry can have affordable power, she said. The official added that the administration recognised coal-powered plants as one of the options to address the energy gap, but the population have to be consulted about whether coal should be used. “From the technical point of view, coal is one of the options for closing the power gap.
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  The Consumer Price Index (CPI) rose by 4% this year (Central Statistical Organization-CSO)

  The Consumer Price Index (CPI) increased by 4 per cent this year, coming in at 132.4 per cent at the end of May, according to the Central Statistical Organisation (CSO). It stated that food and beverage was at 144.3 per cent while other goods were at 115.6 per cent. The report stated that Rakhine State, Kachin State and Tanintharyi Region showed the highest increase in CPI at nearly 10 per cent. The report said inflation was highest in Rakhine at 12.2 per cent, followed by Kachin with 8.9 per cent and Shan with 8.1 per cent.
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  Mandalay’s total investments hit US$ 5.5 billion since data collection began up until April this year (Directorate of Investment and Company Administration – DICA)

  Mandalay has ac¬crued K3 trillion worth of local investment and $2.3 bil¬lion of foreign investment since counting began up until April this year, ac¬cording to statistics of the Directorate of Investment and Company Adminis¬tration (DICA). The total is spread among 132 local busi¬nesses and 38 foreign businesses from 13 coun¬tries, with the region’s in¬dustrial sector reaping the majority of investment. “When we compare the investment volume coun¬try by country, Singapore comes first place in Man¬dalay followed by China and Hong Kong,” said Daw Nwe Ni Oo, Director of DICA. “Mandalay received in¬vestments from the busi¬nesses of 13 countries but the total amount is still lower than in Yangon, but hopefully it will increase year-on-year,” she said.
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  The German Government commits 15.3 million euros for the development of local small and medium enterprises in partnership with the government and lender CB bank

  The German Gov¬ernment last week committed 15.3 million euros for the de¬velopment of local small and medium enterprises in partnership with the government and lender CB Bank. In the first phase of the SELP program between CB Bank and German devel¬opment bank KfW, 4.5 mil¬lion euros, approximately $5 million, will be made available in grants to SMEs as a loan from the minis¬try of finance to CB Bank, reads a press release. “SME development is considered as one of the most viable means to cre¬ate employment, well-be-ing as well as sustainable economic development,” Dr. Christine Heimburg¬er, KfW Director, East for Asia and Pacific, told the audience at the SELP pro¬gram launch party.
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  The representative of 30 Thai small and medium-sized enterprises visited Myanmar to seek out local partners

  WITH THE Asean Economic Community opening up the region, representatives of 30 Thai small and medium-sized enterprises visited Myanmar from Monday to Wednesday to seek out local partners. Kitsana Vachekrilas, treasurer of the Thai Chamber of Commerce (TCC) and managing director of Bua Thong Thani Management Co, said in an exclusive interview that all the Thai participants were satisfied with their business trip, as they expected to find partners to help them distribute their products in Myanmar.
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  The import volume has increased by US$600 million when compared to the same period from the previous fiscal year (Ministry of Commerce - MOC)

  The import volume has increased by US$600 million, compared to the same period from the previous fiscal year, according to 2017-18 trade statistics up till May from the Ministry of Commerce (MOC). Total trade volume from April 1, 2017 to June 2, 2017 is $5.07 billion – an export of $1.9 billion and import of $3.11 billion. When compared to last year’s performance, export increased by about $100 million while Myanmar imported $600 million more than last year’s two-month period. “More imports mean more investment. On the other hand, it means more trade deficit. “I don’t like trade deficit. I don’t want to say either it is an economic growth or it is good,” said U Myo Thet, vice chair of the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI).
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  Myanmar has allowed foreign firms to engage in both wholesale and retail trading of agricultural products and constructional materials

  Myanmar has allowed foreign companies to engage in both wholesale and retail trading of fertilizer, pesticide, seeds, hospital equipment and construction materials, according to Notification 36/2017, issued by the Ministry of Commerce. Foreign firms are allowed to do so in line with prescribed health and safety codes and international trade procedures so that the country can use better-quality equipment and materials to improve the infrastructure in the agriculture and health sectors.
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  Since the success of small and medium-sized enterprises (SMEs) is fundamental to a country's economic development, it should be a priority for any administration which is keen to maintain prosperity (economists and businessmen)

  When developing a country’s economy, the success of small and medium-sized enterprises (SMEs) is a vital part and should be a priority for any administration which is keen to maintain prosperity. In order for strong businesses to emerge and compete with other regional enterprises, enterprises will need to grow and develop. For that to happen, SMEs need to have an environment where they can develop, as well as access to finance and support. Economists and businessmen alike have pointed to the fact that Myanmar needs to focus on export so that the economy can grow.
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  Community tourism projects face challenges in promoting their market and services, according to the speakers at the Communities and Tourism Conference in Nay Pyi Taw

  Community tourism projects struggle to market their products and services, according to speakers at the Communities and Tourism Conference held in Nay Pyi Taw on June 13-14. The event was organised by Hanns Seidel Foundation (HSF), Myanmar Centre for Responsible Business (MCRB) and Myanmar Responsible Tourism Institute (MRTI). Existing community tourism projects, new initiatives, tour companies and professionals took part in the conference. It was also attended by around 15 legislators from areas where communities had expressed an interest in tourism involvement. New destinations represented at the conference included Myeik archipelago and Lampi, trekking in Danu regions in Shan State, Ngayokekaung, Gwa, tours in the Yangon area, Tamarind Lake Village, and Kantpetlet, according to the press statement from the three organisers.