ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  The border cross economic cooperation between Myanmar and China was conducted in Mandalay

  A training course for sustainable economic cooperation between Myanmar and China was launched at the Hotel Mandalay yesterday. Deputy Consul General Ms Li Libei from the Chinese Consulate-General in Mandalay, Economic Consul Ms Yang Sheng and officials delivered opening remarks on the three-day course. Then, Vice President Mr. Chen Xiangqiu from the CNPC Southeast Asia Pipeline Co Ltda and Executive Director Dr Zaw Oo from the Centre for Economic and Social Development (CESD) also delivered speeches. The training course is jointly conducted by the Kunming University of Science and Technology ASEAN Research Center (KUSTARC) and the CESD, with the main objective to promote bilateral trade cooperation between Myanmar and China by clearing unbalanced information about cross border economic cooperation and the China- Myanmar Economic Corridor construction.
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  The local subsidiary of German multinational wholesale, Metro Wholesale Myanmar is working to boost sales of farmers’ produce

  Metro Wholesale Myanmar, the local subsidiary of German multinational wholesale chain owned by Metro AG, says it will help local farmers who have earned good agricultural practices (GAP) certification meet with more buyers. The effort was announced by Metro Wholesale Myanmar Commerical Director Mr Hyacinthe Cloarec during a ceremony to present GAP certificates to farmers in Aungban, Shan State. GAP is a common standard for farm management practices created in the late 1990s by several European supermarket chains and their major suppliers and is now the world’s most widely implemented farm certification scheme. “In December Metro Wholesale Myanmar will return to Shan State to meet with more farmers with GAP certification. Then in January we will take these farmers to Yangon to meet with our customers, so that the farmers will be able to find out directly from potential customers what they need. This will allow farmers to improve sales of their products,” Cloarec said during the ceremony.
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  The 15th Joint meeting of Myanmar – Japan CCI Business Cooperation Committees (MJBCC – JMBCC) was held in Yangon to speed up bilateral economic cooperation

  About 20 Japanese Business Entrepreneurs discussed the business opportunities with Myanmar counterparts in Yangon at the 15th Joint Meeting of the Myanmar-Japan CCI Business Cooperation Committees (MJBCC-JMBCC) on Thursday. The meeting was jointly organized by the UMFCCI and Japan Chamber of Commerce and Industry (JCCI). It intended to increase the trade, investment and business cooperation between the two countries by solving challenges and difficulties. Presidentl, Union of Myanmar Federation of Chambers of Commerce and Industry, Zaw Min Win said “Aiming to speed up bilateral economic cooperation, the two largest business communities in Myanmar and Japan initiated this kind of meeting over 20 years ago. This is the 15 times of organizing such business meeting.” The messages of Deputy Minister at the Office of the State Counsellor U Khin Maung Tin and Japanese Prime Minister Shinzo Abe were also read out at the meeting.
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  Philippine conglomerate Ayala Corporation, buys 20 percent stakes in two of Serge Pun’s listed companies for a total USD $ 238 million

  Philippine conglomerate Ayala Corporation will take 20 percent stakes in two of Serge Pun’s listed companies for a total of US$238 million, making the Myanmar tycoon the first to benefit from recent market liberalisation allowing significant foreign ownership of listed holdings. Ayala, with investments in real estate, telecommunications, energy and infrastructure, will acquire stakes in Singapore-listed Yoma Strategic Holdings and Yangon-listed First Myanmar Investment, becoming the second-largest shareholder in both. The deal, announced on Thursday, will be worth $238 million in total and values the two companies at about $1 billion combined. Both sides said it was the Philippines’ biggest private investment in Myanmar. The deal involves share issues of S$0.45 (US$0.33) per share by Yoma Strategic and K15,000 (US$9.90) by FMI, representing a premium of 37.7pc and 36.5pc over the average traded price on November 12 and 13 respectively.
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  Myanmar Government plans to combine two key economic Ministries into a single position

  The Myanmar government plans to combine the positions of Minister of Industry and Minister of Planning and Finance into a single position, according to the Union Parliament agenda for Friday. According to the agenda, a Union-level representative from the government will explain the plan to parliamentary lawmakers in order to seek their approval. According to a proposal by President U Win Myint, the two ministries will be merged entirely and named the Planning, Finance and Industry Ministry, if lawmakers endorse the plan. In late July, the President’s Office appointed U Soe Win, the Union minister for planning and finance, to concurrently serve as industry minister after U Khin Maung Cho was shuffled out of the position due to performance problems.
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  Government and media scrutiny and regulations needed to ensure Belt and Road projects are viable

  China’s Belt and Road Initiative (BRI), seen most visibly in Myanmar through a proposed “economic corridor” between the two countries, requires government and media scrutiny and regulations to ensure projects are done in a socially and environmentally responsible way, an international think-tank says. Transnational Institute, an Amsterdam-based think-tank focused on building a just, democratic and sustainable planet, released a briefing paper this month on the Belt and Road Initiative (BRI) in the Myanmar context. The paper examines four major infrastructure projects in Myanmar: the interconnection of Myanmar and Chinese electricity grids; a proposed railway from Kunming to Kyaukphyu; a land and waterway passage between the two countries, and industrial hubs.
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  The South Korea reiterated their commitment to invest in Myanmar

  The Embassy of the Republic of Korea (ROK) has issued a statement reaffirming South Korea’s commitment to investing in Myanmar. The statement issued last week reiterated that the embassy has not heard any official news of South Korean companies considering relocating from Myanmar to neighbouring countries. The statement was issued following the emergence of news reports in Bangladesh reporting that a South Korean developer of industrial zones active in Myanmar intends to do the same in Bangladesh, and that South Korean companies would be relocating there. The embassy’s statement went on to say that it has not heard of any South Korean company or factory operating in Myanmar considering relocation to neighboring countries.
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  Thai businesses are considering moving their businesses to Myanmar due to the cheap labour wages in Myanmar

  While labour wages are rising in Thailand, some of its enterprises are discussing moving their businesses to Myanmar, according to U Thant Sin Lwin, Director-General of the Directorate of Investment and Company Administration (DICA), state media reported. “At present, Thailand investors are entering Myanmar as cheap labour wages are attracting them,” he said. “As labour wages in Thailand have risen, the kingdom’s business firms are considering moving their businesses to Myanmar,” U Thant Sin Lwin, was quoted as saying. The businesses are engaged in manufacturing LEDs, auto parts and accessories, among other things.
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  The global market leaders for contract logistics solutions in Myanmar, DHL Supply Chain scaled up their operations with its first multi-user warehouse in Myanmar

  DHL Supply Chain, one of the global market leaders for contract logistics solutions, announced the opening of its first multi-user warehouse in Myanmar, last week. The company has invested approximately K1.58 billion (€1 million) in the facility located in Dagon Seikkan Industrial Zone in Yangon, and is targeting to add more than 200 full-time employees to its team by 2021. “Our investment in Myanmar showcases our commitment to ensure that we are consistently offering the best end-to-end logistics solutions to customers in the region, to help them capitaliwe on growth opportunities. Over the years, we have witnessed tremendous growth in Indo-China including Myanmar, and have scaled our offerings accordingly to meet our customers’ needs. Today, our customers can count on us to provide a full suite of integrated end-to-end supply chain solutions, pegged to the highest global standards of excellence,” said Kevin Burrell, CEO DHL Supply Chain, Thailand Cluster (Thailand, Vietnam, Myanmar and Cambodia).
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  Two days workshop on Yangon Region MSME Action plan was held in Yangon with the aim to develop MSME in most of small, medium and large enterprises in Yangon

  Central MSME Agency and MSME Agency Yangon Region meeting was held in Yangon in conjunction with MSME Action Plan Workshop on Wednesday. Yangon Region Chief Minister U Phyo Min Thein delivered an opening speech at the meeting which was also attended by Deputy Minister for Commerce U Aung Htoo, officials and representatives. The workshop focuses on implementation of MSME Action Plan in Yangon Region where most of the SMEs of the country are operating. The MSME Action Plans have been drafted for 13 Regions and States, and it needs to draft for Yangon and Sagaing Regions.