ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Yoma bank and MC Easy Microfinance Company Limited signed a funding agreement of MMK 4.8 billion to provide financial assistance to small entrepreneurs and small business owners in Myanmar

  Yoma Bank and MC Easy Microfinance company limited (“Easy Microfinance”) signed a funding agreement of MMK 4.8 billion in support of Easy Microfinance’s funding operations in Myanmar. This new funding comes on top of the MMK 8 billion in existing ones that Easy Microfinance is receiving from Yoma Bank and it will serve an additional 16,000 borrowers, particularly micro-entrepreneurs and small business owners, who need financial assistance in seed capital for their business’ operations. Since the new legislation allowed Myanmar banks to lend to microfinance institutions (MFIs) in 2016, Yoma Bank has provided innovative funding solutions to over 11 microfinance institutions nationwide. Since the partnership between Yoma Bank and Easy Microfinance started in 2018, more than MMK 12.8 billion have been provided through Yoma Facility to Easy Microfiance’s borrowers through its 21 branches across Yangon, Naypyidaw, Sagaing, Magway, Mon, Kayin and Ayeyarwaddy regions.
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  The Industrial sector is improving despite Myanmar’s economy is slowing down in various sectors

  Aye Thaung, Chairman of Shwelinban Industrial Zone, told the media that although it is somewhat right to say that Myanmar's economy is slowing down in various sectors, the industrial sector is improving. The chairman made the comment during a ceremony to select a new executive committee of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI). "It is somewhat right to say our economy is declining across various sectors. But, the industrial sector is improving. Investors come as they trust in opportunities in Myanmar. Even if new investment does not come, the existing businesses are improving with additional investment," said Aye Thaung.
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  Sino – Myanmar border trade increased USD $ 332.6 million between 1 October and 22 November in the current fiscal year

  Sino-Myanmar border trade registered an increase of US$332.6 million between 1 October and 22 November in the current fiscal year, according to the Ministry of Commerce. Data from the Ministry of Commerce shows the value of the Sino-Myanmar border trade touched $926 million in the current fiscal from $593.47 million recorded in the year-ago period. This FY, border trade values totaled $765.737 million at Muse, $11.28 million at Lweje, $96 million at Chinshwehaw, $251.4 million at Kanpiketee, and $1.6 million at Kengtung. The Ministry of Commerce, the concerned government departments, and the Union of Myanmar Federation of Chambers of Commerce and Industry have been negotiating with their Chinese counterparts to lower trade barriers and offer relief to Myanmar traders using the border trade channel. The two countries are making efforts to set up more border economic cooperation zones and promote border trade.
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  Directorate of Investment and Company Administration (DICA) implemented its online payments for the registration of companies at Myanmar Companies Online (MyCO) website

  The Directorate of Investment and Company Administration (DICA) has announced that it is now able to accept online payments for the registration of companies at its Myanmar Companies Online (MyCO) website. DICA previously accepted cash payment for company registration at its headquarters and branches offices for the convenience of people who did not have credit cards. DICA says the ability to accept payments online from people who have credit cards effective this month is part of its efforts to make MyCO a fully online system. The registration of companies through MyCO was launched on August 1, 2018, to simplify the setting up of businesses in the country.
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  The local company, Sea Lion Group proposed to build an eco-resort project along Ma Kyay Ngu Beach near Gwa township, Rakhine State

  Local company Sea Lion Group has announced its intention to build an eco-resort at a site located along Ma Kyay Ngu Beach, near Gwa Township, Rakhine State. The company is proposing to build a hotel, shopping centre, and organic farm on a 20 hectare site across the Gwa River from Gwa Township. The project, which will be the first of its kind in Gwa, will include swimming pools, an 80-room hotel, arrival jetty, and areas specifically for shallow swimming, water sports, and children. Upon receiving approval for the project, construction will begin in phases. According the proposal, the company will invest K7.5 billion (US$4.9 million) in the project which is expected to support economic and social development in the area.
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  European Union’s SMART Textile and Garment project will work with more than hundred garment and textile factories to boot social and environmental sustainability in Myanmar’s garment industry

  The new phase of the European Union’s SMART Textile and Garments project will bring together brands, trade unions and business associations to boost social and environmental sustainability in Myanmar’s garment industry. The project, funded by the EU, was officially launched in Myanmar last Friday. The SMART Textile and Garments project will work with more than hundred garment and textile factories in Yangon, Mandalay, Bago, Pathein and other regions. The project, which will feature the involvement of local and European experts, will deliver on-site assessment and training on topics such as human resource management systems and workplace communications, occupational safety and health, chemicals and waste management, and energy efficiency.
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  Myanmar government expected to increase investment in a range of sectors including infrastructure and electrical grid outreach

  A new report out notes that to support growing urbanization, the Myanmar government is expected to increase investment in a range of sectors including infrastructure and electrical grid outreach. According to “Emerging Market Growth Opportunities, Myanmar, Forecast to 2024,” the Myanmar government has been able to improve the country’s political and economic scenario since liberalization, thereby creating new growth and investment opportunities for companies. This report analyzes the political and economic scenario in Myanmar and its impact on both domestic and foreign investments. It also examines the social and technological trends along with legal and environmental factors that shape the country’s business environment. IN addition, it offers an in-depth analysis of the factors that influence key strategic business and investment decision making in Myanmar.
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  The value of Myanmar’s imports surpassed exports in bilateral trade with Singapore in 2018 – 2019 financial year

  The value of Myanmar’s imports surpassed exports in bilateral trade with Singapore in the 2018-2019 Financial year, according to data from the Ministry of Commerce. Singapore is Myanmar’s second largest trading partner in the region, after Thailand. In the previous fiscal, Myanmar’s exports to Singapore were registered at just US$329.8 million, while imports were valued at $3.15 billion, with total trade pegged at $3.486 billion. Myanmar exports agricultural products, footwear, textiles and clothing, minerals, and animal products to Singapore, while it imports plastic, fuel oil, capital goods, intermediate goods, consumer products, metals, and chemicals. Myanmar’s bilateral trade with Singapore was registered at $1.99 billion in the last mini-budget period, $3.83 billion in the 2017-2018FY, $2.96 billion in the 2016-2017FY, and $3.69 billion in the 2015-2016FY.
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  Myanmar’s land bank will be fully digitalized and online access to investors applying for land to do business in the country

  Myanmar’s land bank will be fully digitalised and online access given to investors applying for land on which to do business in the country,” said U Thaung Tun, chair of Myanmar Investment Commission. Obtaining land is the main challenge for both local and foreign investors when they set up businesses in Myanmar. The country is already making several economic reforms, and aims to accelerate the reforms, said U Thaung Tun, and the setting up of the online land bank is one of the priorities of the Ministry of Investment and Foreign Economic Relations.
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  Kachin State Government sets a policy to focus on three sectors for sustainable economic development in the state

  Kachin State officials will set a policy to prioritise three sectors for sustainable economic development in the state, business officials have revealed to The Myanmar Times. U Hkyet Hting Nan, chair of the Kachin Entrepreneurs Association (KEA) said agriculture and livestock, hotels and eco-tourism, and natural resources and finished products will be the focus of efforts to diversify the state’s economy and make it more sustainable. This comes on the heels of a state-level economic forum that took place on November 15 and 16. The forum, which was being held for the first time, focused on finding ways to reduce the state’s dependency of natural resources and building a sustainable economy.