ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Chinese investors invested worth USD $ 20.9 billion in aviation, communication and garments sectors in Myanmar businesses

  YANGON- Although China had invested in Myanmar businesses such as energy, construction and transport sectors, they’ve also made investments worth USD20.9 billion in aviation, communications and garment industries, says Commercial Attaché Tan Shufu from Chinese Embassy. He said that business and trade cooperation between Myanmar and China largely stem from mutual interest. China had mostly stood top in the list of Myanmar’s trade partner list and China was the biggest trade market for Myanmar. In 2018-19 fiscal year, Myanmar-China trade volume was US$11.36 billion. Myanmar had allowed China to invest in Myanmar businesses worth US$20.9 billion until December last year. They were investing in aviation, communications, agriculture, finance, tourism and garment sectors. They had also supported the Myanmar in improving their living standards.
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  Ministry of Planning, Finance and Industry seeks the expression of interest from both domestics and foreign investors to interest in participating in state-owned steel mill

  The Ministry of Planning, Finance, and Industry is seeking expressions of interest from both domestic and foreign investors interested in participating in the recommissioning of the Myingyan Steel Mill. The steel mill, located near Sar Khar village, Myingyan Township in Mandalay Region, is reported to have a production capacity of 1.8 million tonnes a year. Besides the Myingyan mill, the government also owns another mill in Pangpet Now, the state-owned entity No. 1 Heavy Industrial Enterprise, which operates the Myingyan mill, is seeking investors to participate in the running of the mill. No. 1 Heavy Industrial Enterprise is under the control of the Ministry of Planning, Finance, and Industry.
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  Japan’s NEC Corp will implement an airport surveillance radar system at international airports in Myanmar in order to improve the safety and efficiency of Myanmar’s air traffic control services

  Japan’s NEC Corp. will implement an airport surveillance radar system at Yangon, Naypyidaw and Mandalay international airports under a 2.3-billion-yen agreement with the Department of Civil Aviation (DCA) to improve the safety and efficiency of Myanmar’s air traffic control services. NEC Corp. will build the system using JICA’s official development assistance to Myanmar. Scheduled for completion by the end of 2021, the system consists of an Airport Surveillance Radar (ASR) for detecting the distance and bearing of aircraft, Secondary Surveillance Radar (SSR) for gathering operational information from aircraft and a Multi-Sensor Data Processing System (MSDPS).
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  Singapore investors explored investments opportunities in Myanmar construction sector

  Over the years, the Myanmar government has stepped up its efforts to bring in foreign direct investment (FDI) to the country. Being more pro-business and open to FDI, potential opportunities for foreign companies willing to invest in Myanmar are vast, particularly in the construction industry as one of the main pillars of the economy. YCP Solidiance, an Asia-focused strategic advisory firm, recently hosted a week-long Overseas Market Workshop (OMW) visit for the Singapore Business Federation (SBF), with the aim of helping Singaporean companies in Yangon explore investments in Myanmar’s construction sector. The workshop also coincided with the visit of Singapore’s Minister of Trade & Industry Chan Chun Sing in Yangon, highlighting the importance of greater collaboration between the two countries following the recent signing of the Singapore-Myanmar Bilateral Investment Treaty .
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  The 11th coordination meeting of the Private Sector Development Committee (PSDC) was held in Nay Pyi Taw

  Chairman of the Private Sector Development Committee, Vice President U Myint Swe delivered an address at the 11th coordination meeting of the Private Sector Development Committee (PSDC) held at the Ministry of Commerce in Nay Pyi Taw on Wednesday. In addressing the meeting the Vice President said that the Private Sector Development Committee (PSDC) had been formed with 20 members by Notification No. 79/2016 dated 24 October 2016 of the Office of the President to accomplish five main tasks. Five work committees led by 3 deputy ministers and 2 permanent secretaries had been formed to implement the Committee’s main tasks. The first meeting of the PSDC was held on 28 November 2016. Four meetings were held in 2017, three meetings in 2018 and two in 2019 and this is the first one held in 2020. From the first to the 10th meeting 87 decisions were made out of which 79 were implemented while 8 were still being implemented. Relevant departments and organizations were urged to cooperate and work together towards completing the remaining 8 decisions by setting up a time frame.
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  Mandalay Region draws totaling USD $ 4 billion in foreign direct investment (FDI)

  The Mandalay Region Investment Committee has endorsed 79 foreign projects from more than 16 countries since its establishment up until December, 2019, drawing almost US$4 billion in foreign direct investments (FDI), U Thant Sin Lwin, Director-General of the Directorate of Investment and Company Administration (DICA) told state media. The investments flowed mostly into manufacturing, power, and services sectors. Meanwhile, a total of 179 domestic projects were endorsed, drawing some K5.3 trillion into infrastructure, manufacturing and services.
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  Thai investors eye in making comprehensive tourism investment in Tanintharyi Region

  Thai investors have shown interest in making comprehensive tourism investment in Kawthaung and Myeik archipelago, Tanintharyi Region, according to U Thant Sin Lwin, Deputy Director of the Directorate of Investment and Company Administration (DICA). “There are email inquiries asking how many islands and roads are in the archipelago,” said the official. “They also want to know what types of plane can land there, what businesses should be implemented there, and if there is a hospital.” Investors are interested in providing sightseeing flights over the archipelago and plan to visit Myanmar to talk about investment potential. In the first week of December, they sent further inquiries. “The investors want to pursue comprehensive tourism development including speed boats, planes and yachts. This will be a mega project,” said U Thant Sin Lwin.
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  Aung Myin Hmu project is helping in the development of garment sector in Myanmar

  Either we go to various regions and states of Myanmar or we come to Yangon from other parts of the country, industrial zones are a common sight on the outskirts of Yangon. Once these places grew under the influence of quietness, but nowadays they come alive with industrial images. With a total of 29 industrial zones located on the outskirts of Yangon, nearby streets are swarming with factory workers during the rush hours. Garment is the largest among the industries in Yangon. There are 389 CMP and CMP related factories in Myanmar until November in 2019. There are 338 garment factories with 214,895 workers employed.
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  Chinese and Norwegian investors expressed their interest to invest in power-generation projects in Chin State

  Chin State government officials say that they have expressions of interest from foreign investors to invest in power-generation projects in the state. This was revealed to The Myanmar Times by Chin State Minister of Development, Electricity and Industry U Soe Htet. The state is among the least developed in the country and is also the recipient of the least foreign and domestic investment. Only 27 percent of the state has electricity as of December 2019, compared with the overall electrification rate of 50pc in the country. Of the total of nine large townships in Chin, just five are linked to the national grid.
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  Rice growers in Myanmar are increasingly concerned the amount of water in the country available for irrigation of their crops

  Myanmar’s rice growers are increasingly concerned about the amount of water in the country available for the irrigation of their crops, industry insiders say. And their worries are not exactly without foundation. U Myo Tint Tun, assistant secretary at the Ministry of Agriculture, Livestock and Irrigation recently said: “A reduction in water available for crop irrigation is likely. Right now, the rainfall the country receives has been lower than in previous rainy seasons. Water flowing into the county’s dams has been fluctuating over the recent years and the amount cannot be estimated accurately. What is definitely known is that the country has to be more effective in saving water.” Rice is one of Myanmar’s major exports, and if shortages of irrigation water occur it would negatively impact a revenue source for the country.