ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  The number of foreign tourist arrival into Myanmar increased more than 1.3 million from January to September this year

  The Ministry of Hotels and Tourism recently released data showing that from January to September this year, more than 1.3 million foreign tourists visited Myanmar. This represents 390,000 more visitors or a 41 percent rise compared to the same period last year The ministry said the increase can be attributed to more visitors coming from Asian countries, such as Japan, South Korea and China, which have been the targets of the government’s “Look-East policy” for tourism. Tourists from China, Japan and South Korea have increased significantly since the government relaxed visa requirements for travellers from those countries in October last year, say tourism stakeholders.
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  New Zealand Government is discussing with Myanmar Government in providing technical assistance to increase ease of doing business ranking and develop the implementation of e-Government

  New Zealand, the top spot in the World Bank’s annual ease of doing business ranking for the third year in a row, is discussing with Myanmar in order to provide technical assistance to help increase ease of doing business ranking and develop the implementation of e-Government, said a source from the Ministry of Commerce. Deputy Minister Aung Htoo of the Ministry of Commerce discussed with Mr. Stephen Marshall, New Zealand ambassador to Myanmar. Both sides focused on promotion of capacity building of the staffers and the plans to be provided to give short-term and long-term training programs to them. Myanmar managed to carry out changes in five fields. Myanmar escaped from the 20th ease of doing business ranking. There are many fields left to develop its scores, according to “Doing Business 2020 and Way Forward” at Sule Shangrila Hotel on November 1. Myanmar took the position of 165 in the World Bank’s annual ease of doing business on October 24.
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  Myanmar Government provided a strong legal framework which will require the disclosure of beneficial owners of companies involved in the extractive sector

  The Myanmar President’s Office, on October 2, issued a notification providing a strong legal framework that requires the disclosure of beneficial owners of companies involved in the extractive sector. Notification No. 104/2019 confirms the mandate of the Beneficial Ownership Task Force to make decisions regarding ownership disclosures and empowers the Directorate of Investment and Company Administration (DICA) to implement them. The notification also paves the way for 158 companies and 5 state-owned enterprises operating in Myanmar’s oil and gas production and transportation, mineral, pearl, jade and coloured gemstone industries to disclose their true owners by January 1, 2020, setting an important precedent in the country’s efforts to increase transparency in its natural resource sector.
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  The natural gas power stations in Yangon Region maintained to generate at full capacity

  Deputy Minister for Electricity and Energy U Khin Maung Win inspected natural gas-fired power stations in Yangon Region on 10 November. The Deputy Minister first visited inspect Hlawga Natural Gas Power Station in Mingaladon Township. Officials from the power station explained to the Deputy Minister about the particulars the power station, annual power generation status, maintenance works conducted, power distribution through the national grid, upgrading and modification of the power plant by Golden Green Energy Co, Ltd and sub-station upgrade works conducted with JICA loan. The Deputy Minister then inspected the Control Room, GIS E-house, upgrading work of 33 kV Switchyard with Gas Insulated Switchgear (GIS), power generation from 50 MW MCP power station and power distribution plan.
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  The Central Bank of Myanmar (CBM) will start issuing the third round of foreign bank licences next year

  In a move to further liberalise the financial services sector, the Central Bank of Myanmar will start issuing the third round of foreign bank licences from next year allowing overseas lenders to open subsidiaries in the Myanmar market, Dealstreetasia reported. Foreign banks can apply for licences to set up either a branch or a subsidiary. To secure a subsidiary licence, foreign lenders will be required to maintain a minimum paid-up capital of $100 million. Banks will be allowed to operate both onshore wholesale and retail banking, with the latter scheduled to start from January 2021.
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  Myanmar earned USD $ 65 million from rice and broken rice export of more than 220,000 tons within one month of the current fiscal year

  Myanmar earned US$ 65 million from exporting more than 220,000 tons of rice and broken rice within one month of the current fiscal year, up US$ 21 million on more than 90,000 tons, compared to the same period of last year, said a source from the Ministry of Commerce. From October 1 to 25 in 2019-2020 financial years, Myanmar exported 220,000 tons of rice and broken rice, up more than 90,000 tons compared to the same period of last year, Khin Maung Lwin, Assistant Secretary of the Ministry of Commerce. “Rice and broken rice export volume reaches US$ 65 million, up 21 US$ million, compared to the same period of last year,” said Khin Maung Lwin.
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  Watermelon growers are in trouble due to the low demand for Myanmar-grown watermelons in Muse border trade area

  Farmers say they are having trouble even covering their logistics costs due to a slump in demand for Myanmar-grown watermelons in the Muse border trade area. As the sales of watermelons declined in Muse, the melons traders face difficulties to get even the logistic costs back, said melon farmers. One tonne of melons now fetches from between 600 yuan (K128,000) to 1200 yuan depending on the quality of the fruit, said U Sai Khin Maung, vice chair of the Muse Fruit Wholesale Centre. Although the watermelon is grown in Myanmar year round, most of the melons harvested from November to May are exported to China via Muse. “The melon market has been poor for about one month. During a time of low consumption in our major market, we have had a bumper crop. The crop this time was also of lower quality,” U Sai Khin Maung said.
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  Yoma Strategic Holdings (YSH) agreed to acquire an additional stake in Digital Money Myanmar (Wave Money) from Yangon listed First Myanmar Investment (FMI)

  Yoma Strategic Holdings (YSH) has agreed to acquire an additional 10 per cent stake in Digital Money Myanmar (Wave Money) from Yangon-listed First Myanmar Investment (FMI) for $6 million, Dealstreetasia reported. The transaction will comprise 100,000 ordinary shares and 3.5 million redeemable preference shares, YSH said in a statement. The consideration of $6 million was based on a total equity value of Wave Money at $59.92 million.
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  Foreign Direct Investment (FDI) into Myanmar still lagged behind other countries in ASEAN countries

  Foreign direct investment (FDI) into Myanmar still lags other countries in ASEAN, according to a report issued by the ASEAN Secretariat last week. The report ASEAN Investment Report 2019: FDI in Services showed that FDI into Myanmar declined despite record-high inflows into other countries in the grouping. FDI in Myanmar in 2018 slumped 11 percent to US$3.6 billion, primarily because of a 48 percent decline in investments in extractive industries. Although the country benefits from over 59 percent of investments from ASEAN countries, Myanmar is the only one among the CLMV countries - Cambodia, Laos, Myanmar, and Vietnam - that saw a decrease in intra-ASEAN investment.
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  The Environmental Impact Assessment (EIA) and Social Impact Assessment (SIA) on Kyaukphyu SEZ and Kyaukphyu deep seaport will be started

  Environmental impact assessment (EIA) and social impact assessment (SIA) have started in Kyaukphyu SEZ and Kyaukphyu deep seaport. The project will be implemented after signing agreements including shareholder and other ones, said Deputy Minister Aung Htoo of the Ministry of Commerce. “Kyaukphyu was already negotiated in the time of the first government. The contract was changed into a ratio of 70-30 from 85-15. Then a framework agreement was signed. Now, the EIA and SIA have already begun. If the shareholder agreement and other ones are signed, the project will start an operation, said Deputy Minister Aung Htoo. Previously, the agreement showed an 85 % would go to China and a 15 % to Myanmar. In the time of the current government, the project was re-negotiated and was newly signed back. The agreement indicated that a 70% would go to China and 30 % to Myanmar.