ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  The value of Myanmar’s import increase USD $ 1 billion as of 1 February in the 2019 – 2020 financial year

  The value of Myanmar’s imports between 1 October and 7 February in the 2019-2020 financial year stood at US$7.44 billion, an increase of $1.05 billion from $6.39 billion recorded in the year-ago period, according to data released by the Ministry of Commerce. The value of imports in the consumer, capital, intermediate goods, and CMP business groups rose significantly in the current fiscal. Over the past four months, capital goods, such as auto parts, vehicles, machines, steel, and airplane parts were brought into the country. Capital goods made up a large share of Myanmar’s imports in the current fiscal. Their import value was estimated at $2.72 billion. The figure was $726 million higher compared to the same period in the previous FY. Meanwhile, Myanmar imported consumer products worth $1.26 billion, including pharmaceuticals, cosmetics, and palm oil. The imports of consumer products showed an increase of $68.7 million compared with the corresponding period of the 2018-2019FY.
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  Yangon Chief Minister urged environmentally friendly and responsible investments in Yangon Region

  Yangon Chief Minister U Phyo Min Thein called for environmentally-friendly and responsible investments into the region during remarks at the February 6 ‘Green Economy Green Growth’ seminar at UMFCCI. “We have carried out mangrove forest restoration initiatives in Yangon Region by planting around 30,000 acres of mangrove trees as we want to fence the Mottama coastal area with mangrove forest,” said the Chief Minister. “This will help prevent natural disaster and climate change not only for people in Yangon but also for the whole country.” “Furthermore,” he continued, “we are also focusing on smokeless industries while making sure to mitigate the consequences of smokestack industries.”
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  Three foreign companies withdraw their investment plans from the Thilawa Special Economic Zone (SEZ)

  Three foreign companies have withdrawn their investment plans from the Thilawa Special Economic Zone (SEZ), according to U Aung Htoo, deputy commerce minister. The minister was responding to questions on developments at the SEZ from U Khin Cho, a representative of Pyithu Hluttaw, at a parliament session on February 14. As at December 2019, the government has permitted 115 companies from 19 countries to operate in Thilawa SEZ. However, three have withdrawn their investment plans, resulting in 112 companies having invested a total of US$1.9 billion in Thilawa so far, U Aung Htoo said.
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  Myanmar International Livestock Expo 2020 (MILE2020) scheduled to be held in May at Yangon

  A three-day Myanmar International Livestock Expo 2020 (MILE2020) is scheduled to be held from 14-16 May at the Yangon Convention Center (YCC). The expo is being organized by the Myanmar Livestock Federation (MLF). MILE2020 will be the biggest livestock expo in Myanmar, and will be held alongside Agri-Tech Myanmar 2020, said officials. It will feature the latest products and technologies in livestock, poultry, and related agribusinesses, and feature a conference of veterinarians, animal scientists, and manufacturers. Exhibitors from 10 countries will display their products in 130 booths. The expo will also provide business matching opportunities.
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  UK Aid funded DaNa Facility unveils report on Kachin State’s SME Ecosystem

  UK Aid-funded DaNa Facility and Cordaid recently unveiled their study, “The Ecosystem for Small and Medium-Sized Enterprises in Kachin State” at an event attended by Kachin State government officials, donors, humanitarian and development practitioners, local enterprises and other key stakeholders. “Understanding the private sector landscape in Kachin and the challenges SMEs face is essential for creating new opportunities for inclusive growth – growth that creates economic opportunities for poor communities and internally displaced persons,” said Thomas Coward, team leader of DFID Myanmar’s Inclusive and Livelihoods team.
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  KB Kookmin Bank (KB) is preparing to acquire a corporate license permitting it to sell advanced financial products in Myanmar

  KB Kookmin Bank (KB), South Korea’s largest bank, is preparing to acquire a corporate license permitting it to sell advanced financial products in Myanmar. The bank plans to introduce new financial instruments and services in retail banking, such as housing and SME finance, corporate finance, including trade finance and infrastructure finance, digital banking and personal banking services. KB is Korea’s No.1 housing finance bank. Kim Chang-woo, head of KB Yangon office, said KB will leverage on its cooperative ties with the Ministry of Construction and share its know-how in housing financial products and services.
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  Myanmar needs deeper reforms to achieve strong inclusive economic growth and strengthen financial management

  YANGON—The World Bank’s latest research says Myanmar needs deeper reforms to achieve strong and continuing economic growth, including steps to strengthen financial management, promote peace and enhance environmental sustainability. The new World Bank report “Myanmar: Economic Transition Amid Conflict; A Systematic Country Diagnostic,” says the government needs to implement these deeper reforms to ensure long-lasting and inclusive growth across the country. According to the report, Myanmar’s existing reforms have generated immediate gains by reducing fiscal deficits and supporting a more independent central bank to lower inflation and unify the exchange rate. They have also opened up telecommunications and manufacturing sectors to foreign investors as a means to increase employment rates.
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  Chinese firm expressed its interest to invest in Dawei Special Economic Zone (SEZ) in Tanintharyi Region

  A state-owned Chinese firm has expressed interest to invest in the planned Dawei Special Economic Zone (SEZ) in Tanintharyi Region, U Myint San, vice chair of Dawei SEZ Management Committee, told The Myanmar Times. The Myanmar government has yet to respond to the Chinese, given that talks to develop the SEZ with Italian-Thai Development Company Ltd (ITD) as well as the Thai and Japanese governments are at advanced stages. However, analysts aren’t ruling out the possibility. “Dawei SEZ has taken a long time to take shape and isn’t going as planned. As we don’t have the funds to implement it, if the current investors cannot develop the project effectively, then Chinese companies are our only options,” said U Zaw Win Pe, a local analyst and former economic adviser to parliament.
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  Thailand-Myanmar border trade climbs to $1.3 bln in current fiscal

  The value of border trade between Myanmar and neighbouring Thailand was registered at US$1.314 billion as of 7 February in the current financial year compared with $1.28 billion in the corresponding period of the previous FY, according to data released by the Ministry of Commerce. Between 1 October, 2019 and 7 February, 2020, Myanmar’s exports to Thailand were pegged at $906.16 million, while imports were estimated at $408.229 million.
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  Chinese investors slower to discuss investments in Myanmar amid COVID-19

  The number of Chinese investors coming to Myanmar to discuss investment opportunities has declined amidst the coronavirus outbreak (COVID-19), said U Thant Sin Lwin, Director-General of the Directorate of Investment and Company Administration (DICA). “The country expected to attract more investments from China post the Chinese New Year. But, COVID-19 has affected investment,” he said. “Fewer Chinese investors have discussed investments in Myanmar. Moreover, the arrival of tourists has also dropped,” said U Thant Sin Lwin.