Weekly Business News from Myanmar

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  Zone 'A' of Thilawa Special Economic Zone (SEZ) opens

  The Grand Opening Ceremony of the phase one of Thilawa Special Economic Zone was held Wednesday at the zone which is 20 kilometers from the commercial city Yangon. The opening ceremony was attended by Vice President U Nyan Tun and the deputy prime minister of Japan Taro Aso and other officials from both countries.
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  A border checkpoint between Thailand and Myanmar, Baan Lak Tang border check point, closed for 13 years, to reopen soon

  A border checkpoint between Thailand and Myanmar will reopen soon to promote cross-border trade and tourism, according to a report by Xinhua on 18 September quoting a senior Thai official.
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  Myanmar exports about 1.7 billion cubic feet of gas daily from four offshore blocks

  About 1.7 billion cubic feet of gas is being exported daily from four offshore blocks and about 400 million cubic feet of gas is distributed for domestic use, according to the Myanmar Global Investment Forum in Nay Pyi Taw.
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  The market for presale housing units has slowed and is affecting new housing developments in Yangon

  “Most building contractors rely on these advance sales to finance their construction. Now that presales are dropping their cash flow is drying up too. Developers are afraid to invest their own money,” said U MaungMaung from ShweGabar Construction Co.
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  The World Bank approves a USD 400 million interest-free loan for electrification in Myanmar

  The World Bank approved a US$400 million interest-free loan to provide financing and technical assistance to help bring electricity to more than 6.2 million people in Myanmar, the bank announced yesterday.
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  Myanmar signs MoUs with Japan for developing the livestock and fisheries sector and rural development projects in Chin State and Kachin State

  Myanmar and Japan have signed three memoranda of understanding on the provision of Japanese financial assistance on Wednesday the Global New Light of Myanmar reported on 17 September.
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  Investors in the cancelled Dagon City 1 will be given alternative sites instead: Director General of Myanmar Investment Commission (MIC)

  Director General of Myanmar Investment Commission (MIC) U AungNaingOo said that investors in the cancelled Dagon City 1 Project will be given alternative sites instead. “The announcement by the President also said that the investors shall be given alternative sites. Consequently these investors were told to look for other areas as an alternative. There is no time limit but this issue should be resolved by this year’s end,” U AungNaingOo said.
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  Myanmar's export volume was USD 4.6 billion in this fiscal year as of 4 September, down by around USD 200 million compared to last year

  Export volumes have fallen this year compared to the same period last year, but the government will still hit its target in kyat terms due to weakness in the local currency. This fiscal year until September 4, exports were worth US$4.6 billion – down by around $200 million compared to last year, while total trade volume is $11.7 billion according to figures from the Ministry of Commerce.
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  Myanmar Government and the Asian Development Bank (ADB) sign a framework agreement that will allow ADB to expand its Trade Finance Program (TFP) into Myanmar

  The Government of Myanmar and the Asian Development Bank (ADB) signed a framework agreement that will allow ADB to expand its Trade Finance Program (TFP) into Myanmar according an ADB statement on 9 September.
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  An official agreement for the construction of second Thai-Myanmar bridge signed

  Transport Minister ArkhomTermpittayapaisith signed an official agreement on Thursday for the construction of a second Thai-Myanmar bridge across the Moei River from Mae Sot district of Tak province.