ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Myanmar earned over USD $ 50 million trade surplus within two months of this fiscal year

  Myanmar earned over US$50 million trade surplus as export volume had increased within two months of this fiscal year, according to figures from the Ministry of Commerce. Trade surplus means the amount by which the value of a country's exports exceeds the cost of its imports and trade deficit means the amount by which the cost of a country's imports exceeds the value of its exports. Myanmar exported US$3.116 billion worth of products from October 1 to November 29 in this fiscal year. The import value is only US$3.061 billion in this period, according to the ministry. The trade surplus is US$55.613 million in that period in this fiscal year and trade deficit was over US$650 million in that period in the last fiscal year.
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  Chinese card payment network, Union Pay joined forces with UAB Bank to enable acceptance of contact-less cards in Myanmar

  Chinese card payment network UnionPay has joined forces with Myanmar-based UAB Bank to enable the acceptance of its contactless cards in the country, verdict.co.uk reported. Under the terms of the contact, UAB Bank will facilitate UnionPay’s card acceptance at various types of food and beverage, retail, home-ware, and telecommunication, as well as other merchants in Myanmar.
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  The value of Myanmar’s maritime trade increased over USD $ 482.86 million between 1 October and 6 December in the 2019 – 202 fiscal year when compared to the same period of last fiscal year

  The value of Myanmar’s maritime trade for the period between 1 October and 6 December in the 2019-2020 fiscal year totaled US$4.86 billion, an increase of over $482.86 million compared with the year-ago period, according to the Ministry of Commerce. During the period, maritime exports were valued at $2 million, while imports were registered at $2.85 billion. Compared with the same period in the 2018-2019 fiscal year, imports rose by $43.9 million, while exports registered an increase of $438.9 million.
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  Sagaing Region will hold its first international trade fair in January 2020 to highlight the different opportunities for both local and foreign businessmen

  Sagaing Region will hold its first international in January, with the United Kingdom, China, Japan, India, Thailand and Vietnam participating in the event, a senior business association official said. U Kyaw Kyaw Soe, chair for region Chambers of Commerce and Industry, there will be at least 90 booths during the fair. “Sagaing district seems to be a city left behind by other cities in the region,” he said. “The government implements some operations for economic growth in Monywa and Shwebo districts. But, there are still many things that need to be done in Sagaing, despite its closeness to Mandalay.”
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  Myanmar’s apparel export to surge to Turkey in order to further boost investments in education, insurances and airlines

  YANGON- Myanmar is now discussing a surge in apparel exports to Turkey in order to further boost investments in education, insurances and airlines, according to the Ministry of Commerce. The information came to the meeting with Commerce Deputy Minister Aung Htoo and Turkish Ambassador to Myanmar Kerem Divanlioglu held at the Commerce Ministry’s office in early December. Both sides also discussed conducting capacity building training courses for workers, creating job opportunities in the investment and trading sectors, holding of trade fairs between the two countries and boosting trading sector. The Commerce Ministry said that apparel and textile exports among rice, beans and corn rose up to four times within five years.
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  The border trade value between Myanmar and Thailand reached nearly USD $ 623.84 million from 1 October to 6 December 2019

  The value of border trade between Myanmar and Thailand has reached nearly US$623.84 million, with the Hteekhee border trade gate accounting for the largest volume of trade, according to the weekly statistical report of the Ministry of Commerce, state media reported. Myanmar-Thailand border trade totalled $623.8 million between 1 October 2019 and 6 December 2019, which included $414 million in exports and $209.8 million in imports. These figures declined by $27.52 million, compared to the same period last year.
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  Myanmar Investment Commission (MIC) approved three investment projects in power and real estate sectors in Myanmar

  The Myanmar Investment Commission-MIC approved three projects yesterday in the power sector and Real estate sector, amounted to over US$ 50 million and over K1.9 billion. The projects will create 94 job opportunities for Myanmar citizens. The approval came at the meeting 20/2019 of the Myanmar Investment Commission-MIC in Yangon yesterday. U Thaung Tun, Chairman of the MIC and (9) members attended the meeting. By the end of October 2019, the countries with the largest investment in Myanmar were Singapore, People’s Republic of China and Thailand.
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  The additional 1,000 MW of power for the country will be generated by the middle of next year

  Ministry of Electricity and Energy (MOEE) estimates that another 1000 MW of power for the country will be generated by the middle of next year. This was announced during a ceremony attended by President U Win Myint to mark the achievement of 50 percent nationwide electrification on December 13. Nationwide electrification stood at only 34 percent in 2016 when the NLD government came to power. Since then, the reformation of the Ministry of Electricity and Energy and a focus on increasing electricity generation through hydropower, natural gas, and solar power, and expanding distribution has paid off, U Win Myint during his speech at the event. As of this month, electrification has reached 50 percent of the nation and some 350 towns and over 16,000 villages are linked to the national grid, he said.
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  European Union (EU) is preparing to revoke the Generalised System of Preferences (GSP) status granted to Myanmar

  The European Union (EU) may be preparing to revoke the Generalised System of Preferences (GSP) status granted to Myanmar, according to U Zaw Min Win, chair of Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI). U Zaw Min Win said he was informed of the developments but did not know the extent of pressure for it. He was speaking during a meeting with Vice President U Myint Swe earlier this week. The EU began considering a withdrawal of the GSP, granted to Myanmar in 2013, after an outbreak of violence against Muslims in Rakhine at the end of 2018. These privileges grant Myanmar duty-free trade with the EU, which mainly consists of garments. Subsequently, a GSP study team from the EU also visited Myanmar and met with business persons and labour organisations.
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  AIA set the partnership with AYA Financial Group and Max Myanmar Group (AFG Max) for life insurance project in Myanmar

  AIA will partner with local firms AYA Financial Group and Max Myanmar Group (AFG Max) to set up a life insurance project in Myanmar, according to insurancebusinessmag.com. The new venture will leverage AFG Max’s extensive retail customer and business partner networks to offer life and health insurance to the newly opened-up market. AIA is one of five international insurers recently awarded licences by the Ministry of Planning, Finance and Industry to operate a wholly owned subsidiary in the country.