ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  The Ministry of Commerce expects about 150 foreign companies to invest US$ 1.7 billion in Thilawa Special Economic Zone

  The Ministry of Commerce expects about 150 foreign companies to invest US$1.7 billion in the Thilawa Special Economic Zone, located in southern Yangon Region, when it is completed. Deputy Minister Aung Htoo predicted the export volume from Zone A of the Thilawa SEZ to reach $600 million, which would account for 5 per cent of Myanmar’s total export volume. There are already 82 companies from 17 countries with investments in the SEZ. Some of these companies, particularly those in the garment, shoes, toys, spare car parts and electronics industries, have begun operations.
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  Ministry of Commerce plans to set up an export-import bank to help boost the country’s overseas business activities

  The Commerce Ministry is planning to set up a bank capable of assisting exporters and importers to help boost the country’s overseas business activities. Aung Htoo, Deputy Minister for Commerce, said: “We want to establish the bank for export and import. The bank can guarantee losses of exporters and importers. The bank can help until the payment is made. We want to promote exports. Financial assistance can also be supported.” Negotiations are ongoing whether a separate bank will be set up or an existing bank will be upgraded.
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  Daewoo minibuses from Htauk Kyant factory in Yangon will locally be manufactured to help improve transport efficiency and ease congestion, according to the firm’s executive director U Kyaw Kyaw Aung

  Myanmar Trade Center Co will roll out locally manufactured Daewoo minibuses from its Htauk Kyant factory in Yangon by the end of this year, said the firm’s executive director U Kyaw Kyaw Aung, in a bid to help improve transport efficiency and ease congestion. U Kyaw Kyaw Aung added by 2018 the company will be producing city buses, which are aimed not only for the local market but also for export purposes. The city buses and the minibuses will be powered by compressed natural gas (CNG) and diesel engines, he said, adding that the company has already signed an agreement with the Ministry of Industry on May 30.
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  Supporting SMEs, local manufacturing and operating in underdeveloped areas are criteria for FDI approval in Myanmar (official)

  A top official from the Ministry of Commerce told an audience of foreign investors and businesses that foreign investments should be able to support SMEs, manufacture products in Myanmar and operate in underdeveloped areas. Those are the criteria upon which the government will approve or reject foreign investment proposals. The government will scrutinise every foreign investment application and only approve investments which are beneficial for the country, said U Toe Aung Myint, permanent secretary of the Ministry of Commerce.
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  The Central Bank of Myanmar will no longer fix foreign currency exchange rates and will start introducing an interbank market rate in late 2017 (Ministry of Planning and Finance)

  The Central Bank of Myanmar will no longer fix foreign currency exchange rates and will start introducing an interbank market rate in late 2017, according to Dr Sandar Oo, the managing director of the Ministry of Planning and Finance, at the Myanmar Investment Forum 2017 held at the MICC-2 in Nay Pyi Taw. “The central bank creates the daily auction system. It is just one-sided trading. The central bank serves as a seller. It will ditch the daily auction and implement an interbank system. There will be no big difference between the auction rate and the market price. We are working with the International Monetary Fund to implement it at the end of this year.”
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  The Taninthayi Region Government and the central government have drawn projects for the development of the Taninthayi coastal area and Japan is keen to invest (Ministry of Commerce)

  The Taninthayi Region government and the central government have drawn projects for the development of the Taninthayi coastal area, and Japan plans in the region, according to Ministry of Commerce Dr Than Myint. Together with the Dawei Special Economic Zone, Japan will make a survey for investment in the Taninthayi coast development project. A Japanese team is in Yangon to study the agriculture, fishery, tourism, industrial and transport sectors and, it will be discuss in detail at the Union-level parliament on coming weeks according to the Union Minister Dr Than Myint. “For the emergence of Dawei Special Economic Zone and Taninthayi coast development, we are discussing with Thailand and Japan. A Japanese entourage is here to make surveys, and they’ve met with regional minister. Based on the palm oil, fishery and tourism industries of the area, they’ll make development based on these sectors. Local business owners can participate in the project,” said Dr Than Myint.
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  The Ministry of Hotels and Tourism will set up committees to promote tourism in Chin and Rakhine States in a bid to lure the increasing number of visitors to Myanmar away from the more well-trodden tourist hotspots

  The Ministry of Ho¬tels and Tourism will set up com¬mittees to promote tour¬ism in Chin and Rakhine states in a bid to lure the increasing number of visitors to Myanmar away from the more well-trod¬den tourist hotspots. While Mandalay Re¬gion’s Bagan and Shan State’s Inle Lake are on the itinerary of most foreign visitors to the country, lesser known Tanintharyi, Chin and Rakhine boast archipelagos, ancient cul¬tural sites and untouched natural beauty. “We have already formed a tourism com¬mittee for Tanintharyi Region but Rakhine and Chin States are planning to organize these commit¬tees so we can promote tourism in these emerging destinations,” said Daw Khin Than Win, Deputy Director General of Min¬istry of Hotels and Tour¬ism.
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  Siam Commercial Bank (SCB) has broadened its support to banking professionals in Myanmar although the bank is yet to get a foreign bank license in the country

  ALTHOUGH Siam Commercial Bank is yet to get a foreign-bank licence in Myanmar, it has broadened its support to banking professionals in that country, according to Kamalkant Agarwal, head of international banking at SCB. “Regarding the licence, we remain hopeful and will definitely keep trying … It is up to the central bank. On our side, we are very keen and whenever there is a new round, we will definitely apply for it,” he said in a recent interview. Kamalkant believes more reforms and relaxed regulations will be seen in Myanmar as local banks grow over time thanks to their growing investments in hiring skilled staff as well as bids to employ highly advanced technology.
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  Opening up the banking sector should be a top priority for the government if it wants to address the challenges faced by the nascent tech industry (expert)

  Opening up the banking sector should be a top priority for the govern¬ment if it wants to address the challenges facing the nascent tech industry, the founder of Myanmar’s most well-known start-up innovation lab has said. While most industries in Myanmar face the same problems that the tech in¬dustry is grappling with, firms focussed on IT are often at the sharpest end of these challenges, said David Madden, founder and CEO of Phandeeyar.
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  A total of 43 foreign investment businesses were given permits to operate this fiscal year as of the third week of May 2017, with investments of over 800 million USD

  A total of 43 foreign investment businesses were given permits to operate from 1st April to third week of May in the current Fiscal Year 2017-2018, with investments of over US$800million. With foreign direct investment (FDI) increasing, over US$920million of FDI has flowed into the country so far this year. Investments of US$19.5million were allowed in the Thilawa Special Economic Zone. Twenty Myanmar Citizen enterprises with investments of US$242.849million were permitted as of the end of April this FY. As of 30th April this FY, the oil and gas sector ranked