ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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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.
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  Yangon Amata Smart and Eco City Ltd will implement Smart and Eco City project in Yangon Region

  Hong Kong-based Yangon Amata Smart and Eco City Ltd will implement a Smart and Eco City project with an investment of US$274.68 million on 2,000 acres of land near Laydaunkkan Village between East Dagon and South Dagon townships in Yangon Region, according to Myanmar Investment Commission. To implement the project, the Urban and Housing Development Department under the Ministry of Construction and Amata Corporation Public Co Ltd signed a framework agreement on August 22. During the agreement signing ceremony, Yangon Region Chief Minister Phyo Min Thein said the aim was to establish an industrial zone in the region in cooperation with Amata Company.
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  Myanmar’s border trade for 2019 fiscal year which is increased over USD $ 1 billion when compared to 2018 fiscal year

  Myanmar’s overall border trade for the 2019 Fiscal Year has increased by just over $1 billion compared to FY 2018. However, the volume of border trade at Muse, Myanmar’s largest border trade post, has dropped by $1.33 billion, according to data from the Ministry of Commerce. This setbacks is caused by fighting between the Tatmadaw — Myanmar’s army — and ethnic armed groups which flared up around August this year. The government is planning to reroute the trade goods to avoid the conflict areas and keep trade flowing. Muse is located on the northwest border it shares with China. Myanmar exported a total of $3.13 billion and imported $1.76 billion between October 1, 2018, and September 30, 2019, (FY 2019) while the country saw $4.56 billion of export and $1.67 billion of import between October 1, 2017, and September 30, 2018.
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  Ministry of Electricity and Energy (MOEE) disclosed the results of energy tender for five emergency power projects one and a half months after delay

  Myanmar’s Ministry of Energy and Electricity has finally disclosed the tender results for five emergency power projects, one and a half months after issuing the letters of acceptance and following earlier Myanmar Times reports. The government issued a tender for five projects in June to bring in plants and barges with the aim of adding 1070 megawatts of power by next summer and avoiding this year’s power cuts. The tender requirements – including the implementation deadline (210 days), heavy penalties for missing the deadline and short contractual term of five years – came under fire from industry consultants and experts. The Myanmar Times this month broke the news that Hong Kong-listed VPower Group, of which Chinese CITIC is a shareholder, has won four projects. The ministry at the time declined to confirm or comment on the news.
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  Wilmar Myanmar opened its first edible oil and flour mill at Thilawa Port terminal

  Wilmar Myanmar officially opened its first edible oil plan with a capacity of 460 metric tons per day, and flour mill with a capacity of 530 metric tons per day at the Thilawa Port terminal. Simultaneously, they held a groundbreaking ceremony for construction of the rice mill, which is expected to produce 1,200 tons of rice per day, according to the Ministry of Investment and Foreign Economic Relations. Wilmar Myanmar’s famous brand Meizan products, including edible oils, flour and sugar, are widely available in the market. Wilmar Myanmar will continue introducing quality consumer products. At the ceremony, U Han Tun, regional minister for Agriculture, Livestock and Energy; U Win Khant, permanent secretary of the Ministry of Transport and Communications; U Aung Naing Oo, permanent secretary of the Ministry of Investment and Foreign Economic Relations; and Mr Kuok Khoon Hong, CEO of Win International Limited, delivered remarks. Over 400 local and foreign guests were present at the event.
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  Marriot International Inc signed a landmark agreement with Yoma Land to bring Westin Brand to Myanmar in late 2021

  Marriott International Inc has announced the signing of a landmark agreement with Myanmar’s leading property developer, Yoma Land, to bring the Westin brand to Myanmar in late 2021, according to a statement. Under the agreement, the new-build Westin Yangon will feature 281 rooms and suites alongside 90 premium serviced apartments with spectacular views overlooking downtown Yangon and the iconic Shwedagon Pagoda. The 26-story hotel is being planned as a part of the Yoma Central integrated real estate development which has been designed by acclaimed architect Cecil Balmond OBE. Upon completion in 2021, Yoma Central expects to be anchored by the restored former headquarters of the Burma Railway Company, one of Yangon’s oldest and most cherished colonial-era buildings. Yoma Central plans to also feature two Grade A office towers and a collection of luxury private homes, all of which will be connected seamlessly by a retail podium.
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  Myanmar will offer good opportunities for investors to capitalize on the country’s new-found economic vibrancy

  State Counsellor Daw Aung San Su Kyi says Myanmar offer investors a chance to capitalise on the country’s new-found economic vibrancy. The State Counsellor said this during her official visit to Japan, where she met Japanese Prime Minister Shinzo Abe and also attended the Second Myanmar Investment Conference on October 21. “We in Myanmar believe that a quality investment, one that is responsible and sustainable, can and must play a role, and it is for this reason that I value forums such as this. We can offer participants a chance to capitalise on Myanmar’s new-found economic vibrancy. At the same time, it gives us an opportunity to highlight sectors where the right mix of reform, ambition and political will can unlock additional opportunities,’’ Daw Aung San Su Kyi said in her speech for the investment conference.