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ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์
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Myanmar’s economy projected to rebounce faster than the regional and global average
The Myanmar economy is projected to rebound faster than regional and global averages and will benefit from China’s relatively swift recovery, according to Oxford Business Group’s report called Covid-19 Response Report (CRR) , produced in partnership with the medical equipment supplier Okkar Thiri. While no economy remains immune to the negative effects of Covid-19, the IMF’s June 2020 outlook projects that Myanmar will be one of the few countries not to enter negative growth territory in 2020, with GDP growth accelerating to 6% the following year. Another favorable factor is that its largest trade partner and second-largest source of FDI inflows – China – is also expected to outperform most other markets over the next 18 months, boding well for a recovery in both exports and investment -
Japanese automaker, Mitsubishi is eyeing the building vehicles in Myanmar
Mitsubishi Motors is considering building vehicles in Myanmar, as the Japanese automaker deepens its commitment to Southeast Asia, CEO Takao Kato told Nikkei, charting a way forward in a market battered by the coronavirus pandemic, Nikkei Asian Review reported. Mitsubishi Motors has decided to focus on the 10-member Association of Southeast Asian Nations under a medium-term plan released late last month. The automaker will allocate resources to the region, which generates about one-quarter of the company's sales. -
The construction of inshore inspection jetty bridge in Kawthoung will be completed in this September
The construction of inshore inspection jetty bridge necessary for the fisheries sector in Kawthoung will be reportedly completed in this September, according to the Kawthoung District Fisheries Federation (KDFF). The fisheries entrepreneurs constructed the checkpoint by themselves in Kawthoung, where individual boats can be inspected. The government has granted permission to construct the bridge after the entrepreneurs have submitted their difficulties. -
The black bean prices plunged by K 20,000 per tonne amidst due to the low demand from India
The low demand by India brought down the black bean prices in the domestic market, according to Myanmar Pulses, Beans and Sesame Seeds Merchants Association. The prices of the black bean are pegged at around K970,000 per tonne in mid-July. The price plunged to K950,000 per tonne in early August, according to data of the Bayintnaung market. India rapidly changed the import period to three months by August-end 2020 from the earlier set deadline of March 2021, as per their official notice. -
Ayeyawaddy Region Investment Committee (ARIC) endorsed three projects worth USD $ 4.979 million which will create 2,173 jobs opportunities
The Ayeyawady Region Investment Committee (ARIC) has given the green light to three enterprises in the hotels and tourism, construction and manufacturing sectors, with an estimated capital of US$4.979 million and K3.215 billion. The decision was taken during a meeting held on 30 July. -
The export earnings from garment sector declined USD $ 60 million in 10 months of the current fiscal year when compared to the same period of last year
Export earnings from the CMP garment sector have reached US$3.6 billion over the past 10 months of the current 2019-2020 fiscal year, declining by about US$60 million compared with the same period last year, an official from the Ministry of Commerce told The Daily Eleven. From October 1 to July 27 this financial year, US$3.615 billion was earned from CMP garment export. The same period last year saw US$3.675 billion in earnings. So, this year, the export value decreased by US$60 million. “Till July 24, US$3,615 million was earned from garment export. The amount declined by US$60 million compared to the previous year,” the official said. -
Sino – Myanmar border trade deceased USD $ 123.5 million in 10 months of current fiscal year due to the impact of coronavirus pandemic
Sino-Myanmar border trade has registered a decrease of US$123.5 million between 1 October and 17 July in the current financial year 2019-2020, according to the Ministry of Commerce. Data from the ministry show the value of Sino-Myanmar border trade in all five border areas touched over $4.7 billion in the current budget year, which significantly plunged from over $4.83 billion recorded in the year-ago period. Border trade values totalled $3.89 billion through Muse border in this FY, $123.35 million via Lweje, $430.7 million via Chinshwehaw, $263 million via Kampaiti, and over $4.45 million via Kengtung. The Commerce Ministry’s data showed a drop in trade value through all those border areas. -
Myanmar Investment Commission (MIC) approved the seven investment enterprises from home and abroad which will create over 3,662 job opportunities
Myanmar Investment Commission (MIC) recently approved seven investment enterprises from home and abroad, Xinhua reported quoting local media. The enterprises, which will create over 3,662 job opportunities for Myanmar citizens, were permitted at the commission's recent meeting. With investment capital of 462.6 million U.S. dollars and 73.2 billion kyats (54 million U.S. dollars), the permitted enterprises engaged in the country's manufacturing, property, hotel and tourism and other services sectors, respectively. -
Myanmar parliament approved USD $ 438.8 million loans from Asian Development Bank (ADB) for Mekong Corridor highway
Myanmar’s Union Parliament on Wednesday approved a US$483.8 million (660 billion kyats) loan from the Asian Development Bank (ABD) for an expressway that is a part of the international East West Economic Corridor (EWEC). The project hopes to link Vietnam’s port of Da Nang and Thilawa port in Yangon, passing through Laos, Cambodia and Thailand. The approved 62 km Bago-Kyaik Hto Expressway Project will connect Bago Region and Mon State, with the Ministry of Construction taking responsibility. In Myanmar, the EWEC is due to link to the planned expressway, the Bago-Thanlyin road to the Thilawa Special Economic Zone, Yangon’s outer ring road, Hanthawaddy International airport and the Yangon-Mandalay highway. -
The export earnings from the fishery industry reached USD $ 733.8 million as of 17 July in the 2019 – 2020 financial year
Export earnings from the fisheries sector during the period between 1 October and 17 July in the 2019-2020 financial year reached US$733.8 million, an increase of $108.97 million from the year-ago period, according to the statistics released by the Commerce Ministry. Myanmar exports fisheries products, such as fish, prawns, and crabs, to markets in 40 countries, including China, Saudi Arabia, the US, Japan, Singapore, Thailand, and countries in the European Union. However, Myanmar’s fishery export volume is much lower compared to neighbouring countries. The Myanmar Fisheries Federation (MFF) is making concerted efforts to increase fishery export earnings by developing fish farming lakes which meet international standards and adopting advanced fishing techniques. The MFF plans to establish fish lakes, aqua feedstuffs processing factories, cold storages, and packaging factories, in cooperation with foreign experts.
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