ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Myanmar and Thailand second friendship bridge cross Thaungyin river linking Myawady township of Kayin State with Mae Sot district of Tak Province was opened yesterday

  Myanmar and Thailand officially opened the second friendship bridge that crosses Thaungyin River, linking Myawady Township of Kayin State with Mae Sot district of Tak Province yesterday morning. The opening ceremony of the bridge began with video clips on the project, followed by the explanations of the Director general of Road Department of Thailand. Director General of Bridge Management Department U Shwe Lay briefed on the construction of bridge.
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  Myanmar Investment Commission (MIC) approved the proposal of Amata Group, Thai-backed industrial estate to develop a smart industrial estate project in Yangon

  The Myanmar Investment Commission (MIC) has approved Thai developer Amata Group’s proposal to develop a smart industrial estate project in Yangon Region. Amata Group is a Thai-listed developer headquartered in Bangkok known for its work on industrial estates. A meeting of the Myanmar Investment Commission on October 21 approved the development and operation of the project that will be overseen by Yangon Amata Smart Eco City Ltd. Yangon Amata Smart Eco City is an 80/20 joint venture company between Amata Group and the Ministry of Construction.
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  Analyst forecasts strong Thai Bhat could impact on Myanmar traders and consumers by making imports more expensive

  The Thai baht has reached a six-year high against the US dollar and is now at around 30.2 per dollar. Of the four countries that share borders with Myanmar, Thailand is the second largest trading partner, with trade volumes during fiscal 2018-19 amounting to US$3.8 billion, according to government data. Just this month, the Central Bank of Myanmar and Bank of Thailand signed a memorandum of understanding to promote the use of the kyat and baht for trading at the border, according to an October 21 statement issued by the Bank of Thailand. As such, the appreciation of the baht could have an impact on Myanmar traders and consumers by making imports more expensive.
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  The volume of investment goods import reached nearly USD $ 290 million within two weeks of current fiscal year which downed USD $ 50 million when compared to the same period of last year

  Investment goods import volume reached nearly US$ 290 million within two weeks of current fiscal year, down US$ 50 million compared with the same period of the same year, according to the official statistics of the Ministry of Commerce. From October 1 to 18 in 2019-2020 FY, investment goods import volume reached nearly US$ 289.361 million. The investment goods import volume reached US$ 340.321 million. The investment goods import volume downed US$ 50.960 million compared to the same period of last year. From 1988 to July of 2019, there were 1,779 investment businesses and 50 countries made investments in 12 economic sectors. Investment volume reached US$ 81.249 billion and Singapore stood at the top of the foreign investment table, followed by China and Thailand.
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  Local fuel prices continuously increased by Ks 40 – 45 liter in 20 days when compared to the same period of last year

  Local fuel prices have continued to increase by K40 to K45 per liter compared to October 9 prices as global oil prices reach around US$56 per barrel, according to local filling stations. Global oil price jumped to US$76 per barrel on October 3, 2018. Then the price was down to around US$42 on December 24. This year, the price increased again to US$54 on January 21, US$52 on January 29, US$60 on March 20, US$64 on April 16, and US$66 on April 23. The prices decreased to US$51 on June 12 and increased to US$60 on July 10. Then, the price decreased to US$53 on September 3 and increased to around US$60 on September 16. The price on October 28 was US$56 per barrel. On October 28 in local market, maximum prices available at local filling stations were K965 for one liter of diesel (K4,387 per gallon), K975 for one liter of premium diesel (K4,432 per gallon), K865 for one liter of 92 Ron octane (K3,932 per gallon) and K955 for one liter of 95 Ron octane (K4,341 per gallon). The prices increased by K40 to K45 per liter compared to those on October 9.
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  The wastewater treatment plant in Manywa Industrial Zone expected to completed by December

  Machines are being installed at the wastewater treatment plant in the Monywa industrial zone, and construction of the facility is expected to be completed in December, said U Wai Tint, the chairman of the Monywa Industrial Zone Committee. The wastewater treatment plant is being built with the assistance of the Denmark Responsible Business Fund (RBF). The plant will recycle wastewater discharged from 17 factories in the industrial zone. “The construction of the plant is estimated to cost K1,500 million. And, the RBF has agreed to pay 50 per cent of the total cost of the project. When we entered into a contract with the RBF team, the team had agreed to pay another K210 million to purchase a biogas generator and install lightning prevention apparatus. The Denmark delegation has also provided a K170-million worth biogas generator and other equipment valued at K40 million. To construct the plant, businessmen shelled out K750 million, while the RBF provided K750 million,” said U Wei Tint.
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  Myanmar Agricultural Development Bank (MADB) will extend the repayments period for its agricultural loans to farmers for the winter crop season by next three months

  Myanmar Agricultural Development Bank (MADB) has announced that it will extend the repayment period for its agricultural loans for the winter crop season by next three months for the convenience of farmers. Normally, agricultural loans for the winter crop season have to be repaid by the end of June but MADB has extended the repayment period to September 15 for this year’s loans. “The extension of the repayment period will help farmers stockpiling crops to wait for better prices. In the past, farmers had to sell crops to traders and brokers as soon as it was harvested. The announcement of the extension is good news for farmers,” said Free Farmers Association chair U Thein Aung.
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  Myanmar earned USD $ 4.8 billion from garment exports during 2019 fiscal year which is increased when compared to the same period of last fiscal year

  Myanmar exported a total of $4.8 billion worth of garments during the 2019 Fiscal Year. This was an increase of $1.2 billion over FY 2018, according the data from the Ministry of Commerce. The “Manufacture Products” category is the largest category of Myanmar’s listed sectors. Garments fall into that category, and is the biggest sub-sector of any category, even beating out oil and gas, according to U Khin Maung Lwin, Deputy Permanent Secretary of the Ministry of Commerce. Myanmar exports finished garment products to Germany, UK, Spain, France, Denmark, Italy, the Netherlands, Japan, and Korea. The Deputy Permanent Secretary added: “We have GSP benefits for our garment exports, which helps push the volume of garment exports. The sector’s volume of trade took off after the 2016 Fiscal Year.” In 2013, the European Union granted a Generalized System of Preferences (GSP) for Myanmar in order to help improve the garment sector. Myanmar also enjoys similar GSP benefits from the United States.
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  Two day exhibition of “Brands of Vietnam in Myanmar” was held in Yangon to promote the distribution of Vietnamese goods and its services in Myanmar

  The opening ceremony of 2-day Exhibition “Brands of Viet Nam in Myanmar: Quality to success” was held at Myanmar Plaza in Yangon on Tuesday. Vietnamese Ambassador to Myanmar, Yangon Region Chief Minister and many other officials attended the opening ceremony. Since the establishment of the Comprehensive Cooperative Partnership in 2017, Viet Nam and Myanmar have achieved significant progress in many areas especially in trade and investment. The Embassy of Viet Nam in Myanmar organizes this exhibition to enhance the exportation of Vietnamese goods to Myanmar, to promote the distribution channels of Vietnamese goods and its services in Myanmar.
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  Myanmar economy expected to pick up by as much as 7.1 percent in fiscal 2019 – 2020

  The Myanmar economy is expected to expand by 6.8 percent between October 1, 2018 and September 30, 2019 compared to 6.5pc in the previous year, according to the 2019 Annual Consultation Report on Myanmar published by the ASEAN+3 Macroeconomic Research Office (AMRO) on Tuesday. Growth is expected to pick up further, to 7.1pc in fiscal 2019-20, buoyed by reform momentum, improving business sentiments, strong growth in garment and other manufacturing products, an expansion of tourism-related services and stronger fiscal spending, AMRO said. AMRO’s forecast is the most positive so far, with the Asian Development Bank projecting growth of 6.6pc for fiscal 2018-19 and 6.8pc in 2019-20. The International Monetary Fund expects economic growth of 6.4pc in fiscal 2018-19 if government spending picks up, leading to growth of 6.6pc in 2019-20.