ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Yijin Cement Plant at Thilawa SEZ in Myanmar will manufacture slab cement for the first time for the Myanmar construction sector

  With an increase in Korean investments, slab cement will be manufactured for the first time in Myanmar at the Yojin cement plant. The cement manufacturing plant’s opening ceremony was held at LOTTE Hotel on Pyay Toad on Friday evening. The ceremony was attended by officials from the Ministry of Construction, ambassador of the Republic of Korea to Myanmar Mr. Lee Sang Hwa and Kim Jong Sik, Managing Director of Yojin cement plant. “The plant was built in Thilawa SEZ in 2016 with a US$ 60 million investment by Korea, and the plant started operating in 2018.
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  China Energy Engineering Group (EEC) won the fifth emergency power project tender in Myanmar

  Exclusive: A consortium led by China Energy Engineering Group (CEEC) has won the fifth emergency power project put out to tender by the Myanmar government, The Myanmar Times can reveal. A senior source involved in the energy sector told this newspaper that Beijing-based CEEC, a state-owned energy conglomerate also known as Energy China, had been awarded the bid to set up a 120-megawatt plant in Yangon’s Ahlone township, which would use gas supplied by the government. Another industry insider confirmed this development. Earlier this year, CEEC finished building a 119MW gas-fired power plant in Thaton township, southern Mon State.
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  Ayeyarwady Region Investment Forum held in Ngwe Saung Beach with aiming to boom regional economic development and basic infrastructures in Ayeyawady Region

  HINTHADA- Ayeyarwady Region Investment Forum jointly organized by Shwe Myanmar House.com and Ayeyawady Region Government Committee is being held at the Ngwe Saung Beach starting from October 24th. It is two-day forum being attended by local and foreign entrepreneurs. “In our country, there are a lot of needs. There has been infrastructure. So, we would like to offer the investments in agriculture, industrial, electricity and tourism sectors,” said Win Htay, Electricity, Energy, Industry and Transports minister from the Ayeyawady Region Government Committee. Hla Moe Aung, Ayeyawady Region Chief Minister delivered a speech at the ceremony saying that the Ayeyawady Region Government Committee and Ayeyarwady Region Investment Committee are now offering local and foreign investors aiming to boom regional economic development and basic infrastructures in Ayeyawady Region. We are going to allow local and foreign investments in accordance with the Myanmar Investment Law. Especially, agriculture, livestock and breeding sectors will be given first priority. We are going to suggest to the foreign investors that they would cooperate with local entrepreneurs in the regional economic development tasks.
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  Myanmar Japan Thilawa Development Ltd planned to add 200 hectares in its economic zone

  Myanmar Japan Thilawa Development Ltd. said it plans to add 200 hectares, to its economic zone. The Thilawa Special Economic Zone (SEZ) is considered the most successful economic zone in Myanmar, and the additional real estate will be added to the south of the existing Thilawa Special Economic Zone. “We are planning to add an addition 200 hectors just south of the existing zones. To do so, we are trying to complete the construction process of Zone B,” said Mr. Tomoyasu SHIMIZU, President of the company. Zone A covers an area of 405 hectares, and the company said they have already sold 99 percent of the lots there. Zone B takes up about 262 hectors in total, and the developer said that 50 percent of the lots are sold.
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  Myanmar Government granted commercial tax exemption for 14 embassies in Myanmar to meet the mutual exemption agreement

  The Ministry of Commerce announced a commercial tax exemption for 14 embassies in Myanmar including Delegation of the European Union, on October 3. The ministry said it granted this exemption for embassies, representative offices and counselor offices in Myanmar in accordance with Article 29 of the Commercial Tax Law to meet the mutual exemption agreement. The government previously approved a commercial tax exemption for 33 embassies in Myanmar, and the 14 new entries on the list are in addition to those. The new embassies include: the Embassy of The Czech Republic, the Embassy of Finland, the Embassy of Poland, the Embassy of Qatar, the Embassy of the Republic of Korea, the Embassy of the Netherlands, the Embassy of New Zealand, the Embassy of Poland, the Embassy of Sweden, the Embassy of Spain, the Embassy of Turkey, and the Delegation of the European Union.
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  Kinan Corp will launch fully fledged training business for operators in Thilawa SEZ to utilize its inactive machines in the off-season

  Japanese construction machinery leasing firm Kinan Corp. will launch a full-fledged training business for operators in Myanmar to utilize its inactive machines in the off-season, The Mainichi reported. Myanmar Kinan Co., the local arm of the Japanese company will commercialize its training program formerly conducted for client construction firms and factories.
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  Myanmar and Thailand signed a MOU to promote the use of the Myanmar Kyats and Thai Bhat for trading at the border between two countries

  U Kyaw Kyaw Maung, governor of the Central Bank of Myanmar (CBM) and his Thai counterpart Veerathai Santiprabhob, have signed a memorandum of understanding (MOU) to promote the use of the Myanmar kyat and Thai baht for trading at the border, according to an October 21 statement issued by the Bank of Thailand. The governors also inked a second MOU to promote financial innovation and services for payments through collaboration between the two countries, according to the statement. The agreements were signed at the IMF-World Bank meeting in the US on October 18. However, as the MOUs were “unplanned” and took place after negotiations on both sides, further details will be ironed out later, said Daw Myint Myint Kyi, Director General of the CBM. Even though trading at the Thai-Myanmar border is mostly conducted in kyat and baht, payments through banks are conducted in US dollars, said U Hnin Oo, vice chair of the Myanmar Fisheries Federation.
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  The 3rd meeting of Central Micro, Small and Medium Enterprises Development Agency (MSME) held in Nay Pyi Taw to formulate the action plan under the collaboration of Nay Pyi Taw Council, regions and states MSME Agencies

  The central micro, small and medium enterprises development agency held its 3rd meeting at the ministry of industry in Nay Pyi Taw on Tuesday. At the meeting, chairman of central micro, small and medium enterprises development agency, deputy minister for commerce U Aung Htoo said that MSME Agency is conducting the coordination meetings and organizing workshops to formulate the action plan under the collaboration of Nay Pyi Taw Council, regions and states MSME Agencies. The action plan has been drawn in Nay Pyi Taw Council and 12 regions and states. The necessary preparations are being carried out to draw the action in Sagaing and Yangon Regions at the end of this year. MSME Agency has participated in the local products exhibition and competition and it’s found out that the MSME products can penetrate the international markets.
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  Myanmar Pig Breeders and Producers Association called Government authorities to halt pig imports temporarily in order to prevent swine fever and reduce illegal trading

  The Myanmar Pig Breeders and Producers Association has asked the Livestock Breeding and Veterinary Department under the Ministry of Agriculture, Livestock and Irrigation to suspend the imports of live pigs and pork products due to the outbreak of African Swine Fever (ASF) in neighboring countries. Currently, legal and illegal imports of pigs and pork products occur in border areas of the country and the association is asking the authorities to call a temporary halt on the trade to firstly curb the potential spread of ASF, and to reduce illegal trading, said U Maung Maung Lay, vice chair of the association. “We are asking the authorities to temporarily suspend transport and trading of pigs, pork products and frozen meat for a year. The outbreak of ASF is has not been widespread in Myanmar but is a problem in neigbouring countries and we are worried that there could be an outbreak of the disease here. There is no vaccine or resistance to the disease so we need to wait for the outbreak to run its course,” U Maung Maung Lay said.
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  The breakfast talk under private sector collaboration with not-for-profit organizations in sustainable development in Myanmar took place in Yangon in order to raise the awareness on it

  Breakfast Talk under private sector collaboration with not-for-profit organizations in sustainable development in Myanmar took place in Yangon on Wednesday. EuroCham Myanmar (European Chamber and Commerce in Myanmar) has launched an initiative called EuroCham Myanmar Responsible Business Initiative in June 2019. This initiative is to give European companies the opportunity to share their best practices when it comes to responsible business. This breakfast talk brought together with companies and not-for-profit organizations operating in Myanmar, the government and civil society to further discuss under the topic and to raise awareness on critical importance of working together with the not-for-profit and the private sector towards the same ambition.