Weekly Business News from Myanmar

The value of stock trading on the Yangon Stock Exchange (YSX) decreased over K 300 million in July of current fiscal year
The value of shares traded on the Yangon Stock Exchange (YSX) in July sharply plunged to K1 billion, showing a decrease of over K300 million compared with June trading value, according to YSX monthly report. Also, the trading volume fell to 125,137 shares last month. In January, 2020, 196,836 shares worth K1.25 billion were traded on the exchange while 188,919 shares, with estimated value of K1.48 billion were traded on the exchange in February and 228,913 shares valued K1.42 billion were traded in March respectively. It touched the lowest of K902 million with 173,808 shares in April. It rose to K1.2 billion with 200,416 shares being traded in May. The share volumes traded on the exchange surged to 221,682 in June, with estimated value of K1.3 billion, the exchange’s monthly report showed.
Chinese companies won the Myanmar’s billion dollar solar projects tender
The Ministry of Electricity and Energy will announce in the coming weeks the winners of a tender for 30 solar projects that received more than 150 bids, many from Chinese companies. The Ministry of Electricity and Energy will soon announce the winners of its billion-dollar solar tender, officials say, after receiving more than 150 bids, the majority from Chinese companies. The ministry announced a tender for ground-mounted, on-grid solar plants at 30 sites totalling 1,060 megawatts in May. An unofficial list of bids seen by Frontier shows 155 were submitted for the 30 sites on offer, with Tanyaung in Magway Region receiving 13 bids and Thapyaywa in Mandalay Region receiving 12.
The sesame price in Mandalay market rise due to the strong demand from China
The prices of black and white sesame seeds are significantly rising in Mandalay market on the back of strong demand from China, Mandalay traders said. This year, high sesame producing regions of Myanmar (Magway, Mandalay and Sagaing regions) experienced low yield due to drought impacts. During the meantime, China high demand hiked the prices, according to Soe Win Myint depot in Mandalay. “Myanmar increasingly sends sesame seeds to China market. The price fluctuates a bit. The gradual increase in sesame prices since last week of July has been attributed to high demand by China when the drought reduced crop yield in the country. The various varieties of sesame are priced good, especially black and white sesame varieties,” said owner of Soe Win Myint Depot. The prevailing price of sesame jumped to K205,000 per three-basket bag from K150,000. Similarly, the white sesame seeds have also priced a high of K103,000-138,000 depending on quality. As the sesame stockpile is thin, there is no way of the price drop in the coming weeks, he noted.
Myanmar Investment Commission (MIC) approved USD $ 230.60 million worth Industrial Park project in Hlegu which will create over 2,300 job opportunities
Myanmar Investment Commission has approved a $230.60 million worth Hlegu Industrial Park project, to be invested by Singapore based Sembcorp CSSD Myanmar Co., Ltd, as well as $180 million worth AEON Large Scale Shopping Mall, which will create over 2,300 jobs. In addition to that, the investment body also approved seven new investments in industry, construction, hotels and tourism and service sectors, and seven investment extensions from the existing investments. The combined investment amounts topped $462.693 million and K73.2065 billion creating 3,662 jobs.
The domestic investments reached USD $ 348.29 million as of the end of July in the 2019 – 2020 fiscal year
Domestic investments by Myanmar citizens, including an expansion of capital by existing enterprises, have reached K1,543 billion and US$348.29 million as of July-end of the 2019-2020 financial year since October, according to a press statement issued by the Myanmar Investment Commission (MIC). Between 1 October and 31 July in the current fiscal, Myanmar Investment Commission (MIC) and the respective region and state investment committees gave green lights to 113 local enterprises to invest in various sectors, with estimated capitals of over K1,233 billion and $244 million. Domestic investments have flowed into the real estate, manufacturing, hotels and tourism, construction, industrial estate, energy, mining, livestock and fisheries, agriculture, and other services sectors, according to the Directorate of Investment and Company Administration (DICA).
Myanmar’s economy projected to rebounce faster than the regional and global average
The Myanmar economy is projected to rebound faster than regional and global averages and will benefit from China’s relatively swift recovery, according to Oxford Business Group’s report called Covid-19 Response Report (CRR) , produced in partnership with the medical equipment supplier Okkar Thiri. While no economy remains immune to the negative effects of Covid-19, the IMF’s June 2020 outlook projects that Myanmar will be one of the few countries not to enter negative growth territory in 2020, with GDP growth accelerating to 6% the following year. Another favorable factor is that its largest trade partner and second-largest source of FDI inflows – China – is also expected to outperform most other markets over the next 18 months, boding well for a recovery in both exports and investment
Japanese automaker, Mitsubishi is eyeing the building vehicles in Myanmar
Mitsubishi Motors is considering building vehicles in Myanmar, as the Japanese automaker deepens its commitment to Southeast Asia, CEO Takao Kato told Nikkei, charting a way forward in a market battered by the coronavirus pandemic, Nikkei Asian Review reported. Mitsubishi Motors has decided to focus on the 10-member Association of Southeast Asian Nations under a medium-term plan released late last month. The automaker will allocate resources to the region, which generates about one-quarter of the company's sales.
The construction of inshore inspection jetty bridge in Kawthoung will be completed in this September
The construction of inshore inspection jetty bridge necessary for the fisheries sector in Kawthoung will be reportedly completed in this September, according to the Kawthoung District Fisheries Federation (KDFF). The fisheries entrepreneurs constructed the checkpoint by themselves in Kawthoung, where individual boats can be inspected. The government has granted permission to construct the bridge after the entrepreneurs have submitted their difficulties.
The black bean prices plunged by K 20,000 per tonne amidst due to the low demand from India
The low demand by India brought down the black bean prices in the domestic market, according to Myanmar Pulses, Beans and Sesame Seeds Merchants Association. The prices of the black bean are pegged at around K970,000 per tonne in mid-July. The price plunged to K950,000 per tonne in early August, according to data of the Bayintnaung market. India rapidly changed the import period to three months by August-end 2020 from the earlier set deadline of March 2021, as per their official notice.
Ayeyawaddy Region Investment Committee (ARIC) endorsed three projects worth USD $ 4.979 million which will create 2,173 jobs opportunities
The Ayeyawady Region Investment Committee (ARIC) has given the green light to three enterprises in the hotels and tourism, construction and manufacturing sectors, with an estimated capital of US$4.979 million and K3.215 billion. The decision was taken during a meeting held on 30 July.