Weekly Business News from Myanmar

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  There are about 3,800 four-star and five-star hotel rooms in Yangon with occupancy rates falling by 5% since this time last year (Colliers International)

  There are about 3,800 four- and five-star hotels rooms in Yangon with occupancy rates falling by 5 per cent since this time last year, according to Colliers International. The Melia Hotel was the most recent high-quality hotel to open when last year with more due soon. The Pan-Pacific Hotel, Lotte Hotel Yangon, Pullman Yangon and Sheraton Hotel are due to open this year. About 1,300 high-quality rooms will be added.
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  Water vehicles will start serving commuters in Yangon in early June with ships and boats bought from Thailand and Australia

  Water vehicles will start serving commuters in early June with ships and boats bought from Thailand and Australia, according to Daw Tint Tint Lwin, CEO of Tint Tint Myanmar. The Yangon regional government had promised to implement a water taxi system on the Hlaing River and Nga Moe Yeik Creek. Tint Tint Myanmar won the tender to operate this system. “We applied the tender because this has been my dream since my childhood: to make a river ferry similar to that in European countries. Now I have got the chance and I will do my best,” Daw Tint Tint Lwin said.
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  The Ministry of Commerce is helping Myanmar's vegetable businessmen to get access to more loan plans through Myanmar Agricultural Development Bank

  Concerted efforts are being made by the Commerce Ministry for Myanmar’s vegetable businessmen to get access to more loan plans through Myanmar Agricultural Development Bank, according to a meeting held at UMFCCI on Tuesday with private businessmen. Apart from watermelon and muskmelon, other vegetables and fruits production has been found to be in decline in the vegetable and fruit sector. The decrease in production is attributed to the high cost of input, erratic weather conditions and insufficient capital of the farmers.
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  Stock trading on the Yangon Stock Exchange (YSX) reached its lowest value of about 1.2 billion Kyat in April 2017 when compared to monthly stock trading over the past 14 months

  Stock trading on the Yangon Stock Exchange (YSX) reached its lowest value of about Ks1.2billion in April when compared to monthly stock trading values over the past 14 months. First Myanmar Investment (FMI), Myanmar Thilawa SEZ Holdings (MTSH), Myanmar Citizens Bank (MCB) and FPB are currently trading their shares on YSX. Last year, the monthly stock trading values by FMI on YSX were over Ks24 billion in March and over Ks5.8billion in April. With MTSH entering YSX on 20th May, stock trading values of FMI and MTSH amounted to over Ks16billion in May and over Ks6.8billion in June and over Ks3.7 billion in July. After MCB listed on YSX, the monthly stock trading values were over Ks2.9 billion in August, over Ks2.4 billion in September, over Ks4billion in October and over Ks2.2 billion in November.
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  The Ministry of Agriculture, Livestock and Irrigation is planning to give around 1,980 billion Kyat in agricultural loans to farmers this fiscal year

  THE Ministry of Agriculture, Livestock and Irrigation is planning to give around Ks1980 billion in agricultural loans to farmers this fiscal year, its spokesperson said. These kinds of loans will be disbursed to a target group of farmers beginning this month with a very low interest rate. Under the ministry’s scheme, rice growers will receive Ks150,000 per acre of farmland while other crop growers will be lent Ks50,000 for an acre of land, said U Myo Tint Tun, assistant secretary in the ministry.
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  Huawei has revealed the roll out 5G technology in Myanmar, according to a company executive

  Only a year after the arrival of 4G in Myanmar, Chinese mobile technology com¬pany Huawei has revealed the roll out 5G technology could be on the horizon, according to a company executive. Huawei is in the midst of testing its 5G wireless technology but will soon be ready to distribute 5G capable phones to the global market, which in¬cludes Myanmar, said Da¬vid Harmon, Vice Presi¬dent of Huawei’s Global Public Affairs.
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  Over 1.18 million acres of mineral depositories will be restricted, prohibiting local and foreign investments from extraction activities, according to deputy director from the Department of Geological Survey and Mineral Exploration

  More than 1.18 million acres reserved as mineral depositories will be restricted, prohibiting local and foreign investments from extraction activities, said U Ahtar Hlaing, deputy director from the Department of Geological Survey and Mineral Exploration under the Ministry of Natural Resources and Environmental Conservation. In Myanmar, mineral depositories have been allocated to be used as resource reserves, with a total area of 1,187,492 acres, according to U Khin Maung Yi, permanent secretary of the Ministry of Natural Resources and Environment Conservation, who told reporters during a press conference in Nay Pyi Taw on April 24.
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  The Yangon Region Finance, Planning and Economic Committee has sent its yearly report to the the regional parliament, urging for action to be taken in order to avoid the loss of foreign investments

  The Yangon Region Finance, Planning and Economic Committee has sent its yearly report to the regional parliament, urging for action to be taken in order to avoid the loss of foreign investments. Committee chair Daw Sandar Min said the regional government must put emphasis on issues that could affect investments and the economy. Among the issues highlighted were high-rise buildings, the Yangon new city project, Dagon 1 city project, Mingalar market and squatter issues that affected factory owners.
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  The Myanmar Garment Entrepreneurs Association (MGEA) is working for MFN (most-favored nation) status so that the CMP (cutting, making and packaging) clothing industry can receive tax reliefs

  The Myanmar Garment Entrepreneurs Association says it is working for MFN (most-favoured nation) status so that the CMP (cutting, making and packaging) clothing industry can receive tax reliefs. Myint Soe, chair of the association, said: “I have submitted a plan to ensure the country gets MFN status when CMP products are exported to the US. It is a state-level matter. The tax levied on the CMP products exported to the US ranges from nothing to 5 per cent. Under the MFN system, the taxation rate is higher than 5 per cent.”
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  The government sector's export value declined by $ 1.713 billion during this fiscal year

  MYANMAR government exported US$3.669 billion worth of products in fiscal year 2016-2017, according to the Ministry of Commerce. When compared to the last financial year, the export value declined by $1.713 billion during this FY. In the 2015-2016 financial year, the government sector exported agricultural and forest products, manufacturing goods, minerals, and other products worth $5.382 billion to foreign trade partners. During 2016-2017 FY, the sector sent $386.879 million worth of minerals, $4.411 million worth of forestry products, $0.043 million worth of agricultural products, $2.98 billion worth of manufacturing goods and others worth of $297 million to foreign importers.