ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Foreign Direct Investment (FDI) in Special Economic Zone (SEZ) rake over USD $ 116 million investments as of the end of July in the 2019 – 2020 fiscal year

  Foreign investments of US$116.557 million have flowed into the Special Economic Zones (SEZs), under the Special Economic Zone Law, as of July-end in the 2019-2020 financial year since October 2019, according to the figures released by the Directorate of Investment and Company Administration (DICA). Since its establishment, over 110 enterprises from 18 countries and four local businesses have ploughed in nearly $2 billion as of July-end, 2020 in the zones, the investment source indicated. While the manufacturing sector has absorbed the largest share of foreign investments, FDI has also flowed into the trading, other services, transport and logistics, real estate, and hotel sectors. Japan has topped the list of foreign investors so far, accounting for over 34 per cent of the overall investment, followed by Singapore and Thailand. FDI has also flowed into the SEZs from the Republic of Korea, Hong Kong, the UK, Australia, the UAE, Malaysia, Austria, China (Taipei), Panama, China, Brunei, Viet Nam, France, Switzerland, and the Netherlands.
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  Hong Kong based firm, Glamoroso Apparel (Myanmar) Co., Ltd will develop a factory in Industrial Zone in Bago Region which will create over 8,000 job opportunities

  Hong Kong-based Glamoroso Apparel (Myanmar) Co., Ltd will develop a factory on 20 acres of land in the industrial zone in Bago Region, creating over 8,000 jobs for the locals. General Manager Mr Lau Siu Kin of Glamoroso Apparel (Myanmar) Co., Ltd and Bago region factory establishment and supervisory committee secretary U Khin Maung San signed a land lease agreement on 12 August. At the leasing event, Bago Region Chief Minister U Win Thein gave the remark that the region is always open to the investors and the regional government will support them in line with the law. “The investments can create job opportunities for local people and help boost state revenue. The company will engage in the manufacturing of apparel. It has also grasped a market share in European countries,” he added.
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  Yangon Region Investment Committee (YRIC) approved two foreign projects and one domestic project which will create over 1,000 job opportunities

  The Yangon Region Investment Committee (YRIC) virtual meeting on 12 August has approved two foreign projects from China, and Samoa and one domestic project. Those projects will bring in US$6.964 million and K2.17 billion, creating 1,073 jobs. They will invest in manufacturing of foam mattress, camera bags and garments on a Cutting, Making, and Packing (CMP) basis, according to the Directorate of Investment and Company Administration. 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. The investments in the regions also flowing into the hotel services, and other services sectors as well. To date, foreign investments from China, Singapore, Japan, Hong Kong SAR, the Republic of Korea, Viet Nam, India, China (Taipei), Malaysia, the British Virgin Islands, Samoa and Seychelles are arriving in the region. Yangon Region tops foreign investments among the regions and states, attracting more than 600 enterprises over the four years of the incumbent government, according to the Directorate of Investment and Company Administration (DICA). According to DICA statistics, Yangon Region absorbs 60 per cent of all investments in Myanmar, Mandalay attracts 30 per cent, while the other regions and states receive only a small share of investments.
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  Government will find a way for equal economic opportunities for both Myanmar and China when implementing Chinshwehaw Economic Zone

  Daw Aung San Suu Kyi said the government of Myanmar will find a way to make both countries have equal economic opportunities when implementing Chinshwehaw Economic Zone, which is located at the Myanmar-China border. She made that remark during a video conference with the chairmen of the special autonomous regions and administrators of the regions and states. Myanmar and China are also planning to implement China-Myanmar border economic cooperation zones in Muse, Chinshwehaw and Kan Paik Ti and aiming to develop core zone and warehouses as the two countries made an agreement to develop border economic cooperation zones at the border areas during the State Counsellor’s visit to China in 2017 to attend BRI conference.
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  Export rice prices are slightly drop due to the low demand by the China

  The export rice prices in recent days are slightly dropping on account of the falling demand by China, said vice chairman U Min Thein of Muse Rice Depot. In the first week of August, China purchased about 30,000 bags of rice per day. The demand plummeted to about 10,000 bags in recent days. “The price of rice is declining in China. Earlier, the rice was priced 130-132 Yuan per bag. It is now rarely traded at 125 Yuan. The price slipped back slightly,” he said. The General Administration of Customs of the People’s Republic of China (GACC) granted licences to 43 Myanmar companies on 10 July 2020 to export the rice to China through a legitimate trade channel. About 10 of them are exporting rice to China, he continued.
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  President pledged to support in the promoting businesses to become more competitive, responsible business environment

  President U Win Myint has promised that he will support the businesses to become highly competitive, responsible, and just companies that follow international norms. He made the promise during his speech at the ceremony of presenting honorable awards to the biggest taxpayers in the country for the 2018-2019 fiscal year. He also praised the biggest taxpayers for being responsible citizens and businesses, encouraged them to keep the good practice and urged other businesses to become responsible ones by paying due taxes like these companies. The biggest taxpayers for special item tax include Dagon Beverage Company, Royal Class Beverage, SMM Shwe Myanmar Beverage, Yaung Ni Distillery, Golden Oriental Leaf Co. ltd, Victory Myanmar Group, Baho Manufacturing Company, Asia Beverages Company, Lin Lat Win Gems and Jewelry Company and Yadanar Kyel Co., Ltd.
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  Myanmar’s mineral exports reached USD $ 1.553 billion in the first ten months of current fiscal year

  Myanmar’s mineral exports have shown a marked increase this financial year, touching US$1.553 billion between 1 October and 31 July, an increase of $265 million compared with the year-ago period, according to the data from the Ministry of Commerce. In the corresponding period of the previous financial year, mineral exports were pegged at just $1.28 billion. Both private and public sector mineral exports have recorded an increase in the current budget year, with private sector exports valued at $1.069 billion and public sector exports estimated at $484.19 million. So far, excavation of over 1,250 mining blocks has been permitted on a manageable, small, medium, and large scale, according to the Ministry of Natural Resources and Environmental Conservation.
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  Myanmar exports about 100,000 tonnes of black beans to India by August – end of deadline of 2020

  Myanmar can export about 100,000 tonnes of black beans out of 400,000 tonnes to India by August-end deadline, said Chair U Min Ko Oo of Myanmar Pulses, Beans and Sesame Seeds Merchants Association. India rapidly changed the import period of black bean to three months by August-end 2020 from the earlier set deadline of March 2021, as per their official notice. Myanmar can ship about 100,000 tonnes as India suddenly narrowed the import deadline for the entire quota of 400,000 tonnes to a shorter period. “It is late that India’s companies have been granted import licence. If the deadline is April-end, the country can ship only 20-25 per cent of quota (approximately 80,000-100,000 tonnes),” he noted.
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  Magway sesame growers faced the hardship due to the drought low price and damaged by the lack of rain

  With the sesame damaged by lack of rain, the local sesame growers are less interested in growing of sesame as they know they cannot expect the good price, according to the sesame growers in Magway region. “We are not interested in the sesame market price. And we don’t have sesame to supply as well. The plants could not be grown again because time is over. We could not supply the sesame this year from our plantations,” said U Kyi Lin, a sesame grower from Hlepwegyi village. “The sesame price dropped in March. After that, the price of sesame is rising again after the water festival in April. Some growers destroyed their sesame plantations and came to buy the bean seeds to grow. They don’t even ask the market price of sesame,” said Ko Yarzar Lin, an owner of the Nyein Man commodity in Magway town.
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  Joint venture between government – backed Committee and Chinese company, China’s Strategic Port project will move step closer to reality

  The Myanmar government’s investment agency last week approved the registration of a joint venture between a Chinese company and a government-backed committee to develop China’s strategic deep-sea port project in western Rakhine State. The approval moves the long-delayed backbone project of the China-Myanmar Economic Corridor (CMEC) one step closer to actually getting off the ground. The CMEC forms part of China’s ambitious Belt and Road Initiative (BRI). The Kyaukphyu Special Economic Zone and deep-sea port project is designed to provide China with direct access to the Indian Ocean, allowing its oil imports to bypass the Strait of Malacca and boost development in China’s landlocked Yunnan Province. The entire project covers 4,300 acres (about 1,750 hectares). It also plans to construct an industrial zone with facilities for textile and garment manufacturing, construction materials processing, food processing, pharmaceuticals, electronics, marine supplies and services, and research.