Weekly Business News from Myanmar

The annual inflation rate in Myanmar which based on the Consumer Price Index remained at 8.6 percent in October 2019
The annual rate of inflation in Myanmar, based on the Consumer Price Index, stood at 8.6 per cent in October, according to a report released recently by the Central Statistical Organization, under the Ministry of Planning, Finance and Industry. The figure showed no remarkable change month-on-month. The rate was registered at 8.61 per cent in September. The Myanmar Kyat gained against the US dollar in October. The price of imported oil dropped, but domestic fuel oil price was on the higher side. There was a remarkable increase in CPI in the food, household goods and maintenance, transportation, other commodities, clothing, health, education services, recreation, culture, non-food and tobacco and beverages groups and telecommunications.
Tanintharyi Region poised more development in the region in line with the ASEAN economic Community Blueprint 2025
The southern Tanintharyi Region has received 44 foreign direct investments worth over $2.3 billion in the three decades from 1988 to October 2019, according to remarks by Vice President U Myint Swe at a December 7 Investment Forum in Myeik City. The region has also received 71 investments in energy, hotel and tourism, housing development and agriculture worth a total of $233.96 million (K282.326 billion) from local investors. As Myanmar’s southernmost gateway to the greater Mekong sub-region, Tanintharyi plays a critical role in the Southern Economic Corridor (SEC). U Myint Swe said that the implementation of the Dawei Special Economic Zone will contribute to the development of the region, and in carrying out the broader development activities the government is taking examples from countries that have successfully developed their own coastal areas.
The property insiders urged government authorities to expedite draft real estate services law
Property insiders are urging the authorities to speed up the approval process of the Real Estate Service Law, according to Myanmar Real Estate Development Association. A draft of the legislation was submitted to Pyithu Hluttaw in 2018 but no progress has been made since then. The law was first drafted in 2016 and completed in 2017. “The law has been discussed twice in parliament, yet it has not been approved. We should move forward with this before the end of the parliamentary term,” said U Tin Maung, Executive Director and President of the Myanmar Real Estate Development Association.
Three more companies expected to be listed on the Yangon Stock Exchange (YSX) in 2020
Three more companies are likely to get listed on the Yangon Stock Exchange (YSX) in 2020, according to the Securities and Exchange Commission of Myanmar (SECM). “The companies will be listed on the exchange in early 2020. They must file a prospectus with the SECM to receive approval for offering shares. The listing process takes approximately 1 year and 6 months,” said an official with the YSX at the Media Workshop for Myanmar Capital Market, held on 5 December at the stock exchange. The SECM will strive to encourage companies to list on the YSX and proceed with foreign participation on the exchange, he added. At present, shares of five listed companies — First Myanmar Investment (FMI), Myanmar Thilawa SEZ Holdings (MTSH), Myanmar Citizens Bank (MCB), First Private Bank (FPB), and TMH Telecom Public Co. Ltd — are being traded on the stock exchange. The value of shares traded on the Yangon Stock Exchange (YSX) declined sharply last month to K992.69 million compared with K1.36 billion recorded in October. While 141,361 shares were traded on the exchange in November, 259,245 shares were traded in October.
The new bill on microfinance submitted in the Pyithu Hluttaw for approval with the aim to support people in rural areas for financial assistance
A new bill on microfinance has been drafted and proposed in the Pyithu Hluttaw. The bill, which will replace the 2011 Microfinance Institutions Law, was submitted by Daw Khin San Hlaing, an MP from Pale constituency and chair of the Banking and Financial Development Committee on December 10. “The bill aims to support people in rural areas, eradicate illegal loan associations and provide financial assistance to local businesses involved in agricultural and livestock activities,” she said. She added that it had become necessary to amend the existing legislation in order for it to be compatible with the changing environment and evolving technologies.
Myanmar earned over USD $ 50 million trade surplus within two months of this fiscal year
Myanmar earned over US$50 million trade surplus as export volume had increased within two months of this fiscal year, according to figures from the Ministry of Commerce. Trade surplus means the amount by which the value of a country's exports exceeds the cost of its imports and trade deficit means the amount by which the cost of a country's imports exceeds the value of its exports. Myanmar exported US$3.116 billion worth of products from October 1 to November 29 in this fiscal year. The import value is only US$3.061 billion in this period, according to the ministry. The trade surplus is US$55.613 million in that period in this fiscal year and trade deficit was over US$650 million in that period in the last fiscal year.
Chinese card payment network, Union Pay joined forces with UAB Bank to enable acceptance of contact-less cards in Myanmar
Chinese card payment network UnionPay has joined forces with Myanmar-based UAB Bank to enable the acceptance of its contactless cards in the country, verdict.co.uk reported. Under the terms of the contact, UAB Bank will facilitate UnionPay’s card acceptance at various types of food and beverage, retail, home-ware, and telecommunication, as well as other merchants in Myanmar.
The value of Myanmar’s maritime trade increased over USD $ 482.86 million between 1 October and 6 December in the 2019 – 202 fiscal year when compared to the same period of last fiscal year
The value of Myanmar’s maritime trade for the period between 1 October and 6 December in the 2019-2020 fiscal year totaled US$4.86 billion, an increase of over $482.86 million compared with the year-ago period, according to the Ministry of Commerce. During the period, maritime exports were valued at $2 million, while imports were registered at $2.85 billion. Compared with the same period in the 2018-2019 fiscal year, imports rose by $43.9 million, while exports registered an increase of $438.9 million.
Sagaing Region will hold its first international trade fair in January 2020 to highlight the different opportunities for both local and foreign businessmen
Sagaing Region will hold its first international in January, with the United Kingdom, China, Japan, India, Thailand and Vietnam participating in the event, a senior business association official said. U Kyaw Kyaw Soe, chair for region Chambers of Commerce and Industry, there will be at least 90 booths during the fair. “Sagaing district seems to be a city left behind by other cities in the region,” he said. “The government implements some operations for economic growth in Monywa and Shwebo districts. But, there are still many things that need to be done in Sagaing, despite its closeness to Mandalay.”
Myanmar’s apparel export to surge to Turkey in order to further boost investments in education, insurances and airlines
YANGON- Myanmar is now discussing a surge in apparel exports to Turkey in order to further boost investments in education, insurances and airlines, according to the Ministry of Commerce. The information came to the meeting with Commerce Deputy Minister Aung Htoo and Turkish Ambassador to Myanmar Kerem Divanlioglu held at the Commerce Ministry’s office in early December. Both sides also discussed conducting capacity building training courses for workers, creating job opportunities in the investment and trading sectors, holding of trade fairs between the two countries and boosting trading sector. The Commerce Ministry said that apparel and textile exports among rice, beans and corn rose up to four times within five years.