ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Total border trade value exceeded over USD $ 9.5 billion from 1 October to 21 August in 2019 – 2020 financial year

  The total trade value at 18 border trade camps exceeded US$9.56 billion from 1 October to 21 August in 2019-2020 financial year (FY), according to the Ministry of Commerce. During this period, the total border trade value amounted to $9.56 billion, an increase of $334 million compared to that of the same period last year. The border trade value hit $9.23 billion last year. The total border trade value included $6.45 billion in export and $3.11 billion in import.
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  Myanmar imported fuel oil 5 million tonnes up over the past ten months of the current financial year against the period year

  Myanmar imported nearly US$2.37 billion worth 5 million tonnes of diesel and gasoline over the past ten months of the current financial year, showing an increase of 500,000 tonnes compared to the corresponding period of last year, according to the Ministry of Commerce. However, the import values stood at $2.67 billion during a year-ago period, and the figures reflect a decrease of about $300 million this year, said an official of the Ministry of Commerce. The oil and gas sector has been crashed during COVID-19 outbreak. Oil price went negative on 20 April as there is no place to store all the crude the world is producing, but not using. The global market remains broken, leading domestic oil price plunge to more than 50 per cent in April against January’s prices.
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  Myanmar has gained high demand from foreign markets as more marine products are produced safely

  Myanmar is exporting more fishes, prawns and other marine products to 40 countries including China, Japan, Korea, Thailand, the US, the Middle East countries and European Union. The country has gained high demand from foreign markets as more marine products are produced safely, according to the Basic Training Course for Safe Maritime Production Batch (1/2020) opening ceremony. “There are currently 124 aquatic processing industries and 27 of them have permission to export to EU. As per the export countries’ requirements of food safety, the relevant country’s department has to issue necessary health certifications and quality assurance. As every country asks for the food safety system now, the Department of Fisheries is focusing on serving in accordance with the foreign markets. This year’s marine export volume is over US$ 750 mln, an increase of $110 compared to the year-ago period. The Basic Training Course for Safe Maritime Production Batch (1) has started from 23 August. In this financial year, 50 quality controllers from fish and prawn processing factories will attend the training, and 50 people in the next budget year in coming September,” said the Deputy Director from Quality Control and Research Section of the Department of Fisheries.
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  Myanmar has attracted over USD $ 24.6 billion from the foreign direct investment (FDI) over the four years

  Myanmar has attracted over US$24.6 billion over the four years under the incumbent government, and Singapore tops the list, according to the Directorate of Investment and Company Administration (DICA). The Myanmar Investment Commission (MIC) and the respective investment committees granted permits and endorsements to 1,004 foreign enterprises between 2016-2017 Financial Year and as of July-end in the 2019-2020FY, with estimated capitals of $24.6 billion. Of them, Special Economic Zones raked in investments worth $1.348 billion from 58 enterprises under the Special Economic Zone Law in the past four years, while FDI of $23.26 billion flowed into the country under the Myanmar Investment Law, the DICA’s data showed.
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  Centara Hotels & Resorts, Thailand’s leading hotel operator will open three new hotels in Myanmar

  Centara Hotels & Resorts, Thailand’s leading hotel operator, has signed management agreements with three new hotels in Myanmar, TTRweekly reported. The agreements cover three hotels developed by SL International Construction Co Ltd. The properties will be rebranded Centra by Centara Hotel Thiri Hpa-An, Hpa-An Hilltop Resort & Spa, and Centara Hotel Mandalay.
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  Yangon Region Investment Committee (YRIC) approved five foreign projects in manufacturing sector

  The Yangon Region Investment Committee (YRIC) has approved five foreign projects from Japan, Samoa, Seychelles and China, and one domestic enterprise at a videoconference held on 26 August, according to Yangon Region Investment Committee. Those projects are to be brought in an estimated capital of US$10.652 million and K6 billion. They will create 1,828 jobs. They will execute manufacturing of bags and garments on a Cutting, Making, and Packing (CMP) basis, milling, modern furniture production, artificial jewellery product and production and distribution of sesame oil and cookie, according to the Directorate of Investment and Company Administration (Yangon Region). The manufacturing sector has attracted the most foreign investments in Yangon Region, with enterprises engaging in the production of pharmaceuticals, vehicles, container boxes, and garments on a Cutting, Making, and Packing (CMP) basis.
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  Mastercard will open its office in Yangon to support the advance of Myanmar’s digital payments ecosystem

  Mastercard has announced that it is deepening its commitment to Myanmar by taking steps to incorporate an entity in the country – thereby establishing a local office presence in Yangon – and to appoint a country business development manager, Finextra reported.
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  Myanmar – China border trade decrease USD $ 147 million as of 14 August in the current 2019 – 2020 financial year

  Myanmar’s border trade with China has registered a decrease of US$147.27 million between 1 October and 14 August in the current financial year 2019-2020, according to the Ministry of Commerce. Data from the Ministry of Commerce show the value of Myanmar-China border trade in all five borders touched over $5.07 billion in the current financial year, which significantly plunged from over $5.2 billion recorded in the year-ago period. This FY, border trade values totalled $4.19 billion through Muse border, $126.29 million via Lwejel, $471 million via Chinshwehaw, $279.25 million via Kampaiti, and over $4.84 million via Kengtung. The Commerce Ministry’s data showed a drop in trade value through all those border areas between Myanmar and China. The decline in trade is attributed to the trade suspension and trade delay amid the tight security measures of coronavirus. China has been stepping up border control measures to contain the spread of the coronavirus infection. Therefore, Chinese buyers do not come to Myanmar borders in light of pandemic fears, forcing Myanmar truck drivers to leave for Wanding area to sell the goods and causing long queue on border road. The transport delays caused damage to the quality of the goods and doubled the truck fares. The growers and traders are suffering losses during the pandemic, said an official of Muse border depot.
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  All products required to display in Myanmar language or jointly with more languages accordance with Consumer Protection Law (2019)

  Myanmar of today is keeping abreast with the world nations having started gaining a good development velocity. Alongside trade relations with the countries from the international community, Myanmar is importing different types of products and the consumers are extensively using foreign personal and household goods in this day and age. Today is age of information and different kinds of news are available in a short time. Some are satisfactory and some tragedy. Some give a laugh rather than a cry. Some news stated that a child of having sore eyes mistakenly used superglue instead of eye-drops and so he had to go to hospital for medical treatment. Soap water was wrongly used in the plantations in place of pesticides. Some vomited after unknowingly eating tube food with the pictures of pig and chicken, food supplement for pig and chicken, thinking it the snack. Some saw deaths as they took same size medicines instead of taking cardiac medicine. Some lost beauty as they applied itch medicament thinking it as facial cream. Some were dead because they mistakenly drank methyl alcohol instead of alcohol. Some saw untimely deaths because they took medicines with misleading advertisements, claiming that they can completely cure cancer and AIDS.
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  Myanmar’s corn exports to Thailand exceeded over 1.49 million tonnes in the ten months of the current 2019 – 2020 financial year

  Myanmar’s corn exports to Thailand significantly soared to over 1.49 million tonnes through Tachilek and Myawady borders in the ten months of the current financial year 2019-2020, according to the data released by the Ministry of Commerce. The figures reflect a sharp increase of 855,000 tonnes as against a year-ago period. The sharp rise in export volume is attributed to the growing demand from Thailand this year. Earlier, China is the primary purchaser of Myanmar’s corn. China has suspended the importation of some agro products through the borders including corns since 2017-2018FY. Besides, corn is not listed in China’s legitimate goods for border trade.