ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Huawei has revealed the roll out 5G technology in Myanmar, according to a company executive

  Only a year after the arrival of 4G in Myanmar, Chinese mobile technology com¬pany Huawei has revealed the roll out 5G technology could be on the horizon, according to a company executive. Huawei is in the midst of testing its 5G wireless technology but will soon be ready to distribute 5G capable phones to the global market, which in¬cludes Myanmar, said Da¬vid Harmon, Vice Presi¬dent of Huawei’s Global Public Affairs.
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  Over 1.18 million acres of mineral depositories will be restricted, prohibiting local and foreign investments from extraction activities, according to deputy director from the Department of Geological Survey and Mineral Exploration

  More than 1.18 million acres reserved as mineral depositories will be restricted, prohibiting local and foreign investments from extraction activities, said U Ahtar Hlaing, deputy director from the Department of Geological Survey and Mineral Exploration under the Ministry of Natural Resources and Environmental Conservation. In Myanmar, mineral depositories have been allocated to be used as resource reserves, with a total area of 1,187,492 acres, according to U Khin Maung Yi, permanent secretary of the Ministry of Natural Resources and Environment Conservation, who told reporters during a press conference in Nay Pyi Taw on April 24.
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  The Yangon Region Finance, Planning and Economic Committee has sent its yearly report to the the regional parliament, urging for action to be taken in order to avoid the loss of foreign investments

  The Yangon Region Finance, Planning and Economic Committee has sent its yearly report to the regional parliament, urging for action to be taken in order to avoid the loss of foreign investments. Committee chair Daw Sandar Min said the regional government must put emphasis on issues that could affect investments and the economy. Among the issues highlighted were high-rise buildings, the Yangon new city project, Dagon 1 city project, Mingalar market and squatter issues that affected factory owners.
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  The Myanmar Garment Entrepreneurs Association (MGEA) is working for MFN (most-favored nation) status so that the CMP (cutting, making and packaging) clothing industry can receive tax reliefs

  The Myanmar Garment Entrepreneurs Association says it is working for MFN (most-favoured nation) status so that the CMP (cutting, making and packaging) clothing industry can receive tax reliefs. Myint Soe, chair of the association, said: “I have submitted a plan to ensure the country gets MFN status when CMP products are exported to the US. It is a state-level matter. The tax levied on the CMP products exported to the US ranges from nothing to 5 per cent. Under the MFN system, the taxation rate is higher than 5 per cent.”
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  The government sector's export value declined by $ 1.713 billion during this fiscal year

  MYANMAR government exported US$3.669 billion worth of products in fiscal year 2016-2017, according to the Ministry of Commerce. When compared to the last financial year, the export value declined by $1.713 billion during this FY. In the 2015-2016 financial year, the government sector exported agricultural and forest products, manufacturing goods, minerals, and other products worth $5.382 billion to foreign trade partners. During 2016-2017 FY, the sector sent $386.879 million worth of minerals, $4.411 million worth of forestry products, $0.043 million worth of agricultural products, $2.98 billion worth of manufacturing goods and others worth of $297 million to foreign importers.
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  Foreigners have shown little interest in Myanmar’s condominiums due to their inability to meet the condominium’s criteria and a weak law, according to an analysis by the real estate website House.com.mm

  Foreigners have shown little interest in Myanmar’s condominiums on account of their inability to meet the condominium’s criteria and the weakness of law, according to an analysis by the real estate website House.com.mm. According to the new Condominium Law, foreigners have the right to buy condominiums, but the lack of quality has led foreign expatriates to lose interest, the website found.
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  Five new industrial zones will be selected, according to Aung Naing Oo, secretary of Myanmar Investment Commission (MIC)

  Thilawa Special Economic Zone in southern Yangon (Photo-EMG) Five industrial zones are in the process of being selected, according to Aung Naing Oo, secretary of the Myanmar Investment Commission (MIC). “State and regional governments were asked to suggest appropriate areas for industrial zones and have provided lists. We need to further assess them. We’re now in the process of choosing the sites,” he said.
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  The Asian Development Bank (ADB) has announced a new country partnership strategy for Myanmar, to help the government achieve its target of boosting economic growth and creating jobs

  The Asian Development Bank has announced a new country partnership strategy for Myanmar, which it said will help support the government’s target of boosting economic growth and creating jobs. In a statement published on March 29, ADB said the 2017-2021 strategy is aimed at strengthening access in rural and urban markets, building a skilled workforce and increasing employment opportunities and promoting reforms that will help to modernise the economy.
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  Memorandum of Understanding (MoU) has been signed between International Finance Corporation (IFC) and the Securities and Exchange Commission of Myanmar (SECM) to strengthen corporate governance regulatory standards and practices in Myanmar

  International Finance Corporation (IFC), a member of the World Bank Group, and the Securities and Exchange Commission of Myanmar (SECM) signed a memorandum of understanding (MoU) in March to strengthen corporate governance regulatory standards and practices in Myanmar. In its press statement, the IFC said that a better regulated market will bolster investor confidence and help attract international investment to the country.
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  According to the 2017 Union Budget Law, 722 million Kyat has been allocated for the state-owned electricity corporations in Yangon and Mandalay: 529 million Kyat will go to the Yangon Electricity Supply Corporation (YESC) and Mandalay Electricity Supply Corporation (MESC) will receive 243 million Kyat

  According to the 2017 Union Budget Law, K722 million has been allocated for Yangon and Mandalay electricity corporations – K529 million will go to the Yangon Electricity Supply Corporation (YESC) and Mandalay Electricity Supply Corporation (MESC) will receive the rest, K243 million. Both are state-owned organisations under the Ministry of Electricity and Energy. Foreign loans as well as loans from Asian Development Bank (ADB), World Bank and Japan International Cooperation Agency (JICA) are included in the budget set for the YESC. This budget is not within the scope of funds set for the Union government. The administration does not need to pay, since the corresponding corporation will take financial responsibility for it and pay off the loans, U Tun Kywe, CEO of Yangon Electricity Supply Corporation, told the Myanmar Times.