ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Directorate of Investment and Company Administration (DICA) and Myanmar Center for Responsible Business (MCRB) launched new guidebook outlines proper workplace decorum in Myanmar

  The Directorate of Investment and Company Administration (DICA) and Myanmar Center for Responsible Business (MCRB) have launched a new guidebook titled, Respecting Myanmar Culture in the Workplace. The guide aims to help foreigners adapt to an Asian workplace. Understand Myanmar culture will help foreigners avoid misunderstandings in the workplace and in local communities. “Responsible investment is respectful investment. Workplaces which are respectful and inclusive are invariably more productive, and with lower turnover of the workforce,” said U Thaung Tun, Union Minister of the Ministry of Investment and Foreign Economic Relations. The guidebook is also beneficial for foreign investors to help them be familiar with Myanmar’s laws concerning the workplace, labour, health and safety, and environmental protection. It also highlights the importance of listening to and learning from local people to help prevent conflicts and contribute to commercial success.
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  Myanmar meat industry needs to modernize to counter the spread of African swine fever (ASF) to bring the higher production and exports

  Myanmar needs to modernise its meat industry to counter the spread of African swine fever (ASF), insiders who attended conferences organised last week by the International Finance Corporation (IFC) agreed. Besides addressing the imminent threat ASF posed to the country, the modernisation of the sector can further bring about higher production and exports, which would also benefit meat and poultry farmers and the economy overall. The ASF virus was first detected in Myanmar two months ago in the country’s northern Shan state. The highly contagious virus, with a mortality rate of over 90 percent, has caused loss of million dollars across Asia in countries like China, South Korea, Thailand, Laos and Cambodia. Supplying more than 85pc of Myanmar’s animal protein consumption, the pork and poultry industry represents a substantial portion of the economy. The government and relevant stakeholders have crafted out a Myanmar Pork Industry Emergency Plan with an aim to reduce losses and quickly rebuild the industry.
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  Japan topped in the list of foreign investors in the Special Economic Zones (SEZs) under the Special Economic Zone Law in the 2018 – 2019 fiscal year

  Foreign investments of US$362.28 million flowed into the Special Economic Zones (SEZs), under the Special Economic Zone Law, in the 2018-2019 fiscal year, according to figures released by the Directorate of Investment and Company Administration, state media reported. A total of 106 enterprises from 18 countries and four local businesses have ploughed in $1.84 billion so far in the zones, data on FDI of existing enterprises shows. Japan topped the list of foreign investors in the previous fiscal, accounting for more than 36 per cent of the overall investment, followed by Singapore and Thailand.
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  The two South Korean banks are seeking the approval for the opening Myanmar branches to offer banking services in Myanmar

  Two South Korean banks involved separately in a low-income housing project and a joint industrial complex construction project in Yangon are hopeful of winning Myanmar government approval to offer banking services in the country soon. If they are granted licenses, KB Kookmin Bank, one of South Korea’s largest banks, and Industrial Bank of Korea (IBK) will be the second and third South Korean banks to operate in the country after Shinhan Bank, which was approved in 2016. Currently, both KB Kookmin and IBK have offices in the country but have yet to win approval to open bank branches. Officials from the banks told The Korea Times on Thursday that they are looking to enter the Myanmar banking market.
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  Thilawa Special Economic Zone sets to become a vital link in the East West Economic Corridor linking in Myanmar to promote investment and trade among five countries via countrywide transportation networks

  The Thilawa Special Economic Zone near Yangon is set to become a vital link in the East West Economic Corridor linking Myanmar, Thailand, Laos, Cambodia and Vietnam says an official from the Japan International Cooperation Agency (JICA). The East West Economic Corridor development project aims to link transportation and logistics networks to promote investment and trade between the five countries via countrywide transportation networks. “Bridges and roads are being constructed for the east-to-west projects, and the trade flows are expected to become smoother once this is done. Besides this, industrial zones will appear along the road,” said JICA Chief Representative to Myanmar Masayuki Karasawa.
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  The Construction of Yacht Jetty, Eco Smart City in Yangon Region with 6,000 apartments has been approved

  The projects were introduced at a ceremony held at the jetty hall on Monday evening. “We have already granted permission for the construction of the yacht jetty. Construction will begin very soon. The jetty will berth sailboats as well as ships,” said Ko Ti Ti, the head of the Emerald Bay Urban Planning Project. Emerald Bay will be the first Eco Smart City with a sailboat jetty in Yangon Region. A Yacht Club will be established to develop the best living community by celebrating the river festival. “We canvassed many sites in Yangon Region to implement the project. Now, we have found a site, with a wide expanse of land. The site is also close to Yangon as well as to the Thilawa Special Economic Zone. So, we believe that it will be the most beautiful and developed place in Yangon Region,” said the investment director of the project.
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  The first ever foreign wholesale company, METRO Wholesale Myanmar plans to open showroom in Mandalay

  METRO Wholesale Myanmar, the first-ever foreign wholesale company, is planning to open the saleroom in Mandalay, said Mr. Jens Michel, CEO of METRO Wholesale Myanmar. The showroom was open in Yangon on September 30. METRO Myanmar aims at becoming a market leader in the domestic market that can help promote cooperation and sustainable development in economic enterprise. We provide hotels, restaurants, and catering and received good remarks from the customers from trade. We are proud of them and delighted to the service provided to more customers in Yangon, Mandalay and Nay Pyi Taw. We are planning to open another showroom in Mandalay, said Mr. Jens Michel, CEO of METRO Wholesale Myanmar.
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  Fully operational bridge, the second Thai – Myanmar Friendship Bridge expected to boost bilateral border trade between two countries

  Bilateral border trade between Thailand and Myanmar is expected to flourish after the second Thai-Myanmar Friendship Bridge becomes fully operational, starting from Oct 30. Niyom Wairatpanich, vice-chairman of the Thai Chamber of Commerce, said the bridge is vital to boost border trade between the two countries, increasing trade flow and logistics services through Mae Sot. Thailand's border trade with Myanmar totalled 193 billion baht last year, up 4.9% from a year before. Border trade through Mae Sot amounted to 80 billion baht in 2018. Thailand's overall border trade with all four neighbours rose 4% last year to 1.12 trillion baht, with exports making up 651 billion baht, down 0.5%, and imports worth 474 billion, up 11%. Malaysia was the biggest partner for border trade, with two-way border trade amounting to 572 billion baht, up 1.3%, followed by Laos (214 billion baht, up 3.2%) and Cambodia (146 billion baht, up 16.4%).
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  Myanmar expected to draw foreign direct investment (FDI) totaling USD $ 5.8 billion in the 2019 – 2020 fiscal year beginning 1 October 2019

  Myanmar is expected to draw foreign direct investments (FDI) totaling US$5.8 billion in the 2019-20 fiscal year beginning October 1, said U Thant Sin Lwin, Director General of the Directorate of Investment and Company Administration (DICA) and Secretary of Myanmar Investment Commission (MIC). That is unchanged from the forecast for the previous fiscal year, which ended on September 30. However, Myanmar received just $4.5 billion in actual FDI for 285 projects during the year, falling short of its forecast of $5.8 billion for fiscal 2018-19. “In 2019-20, we will hold more forums outside Yangon to draw more investors to the other states and regions. We will also promote investments across Asean and Europe. We are expecting the bulk of investments to flow into the manufacturing sector,” U Thant Sin Lwin said.
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  Industrial and Commercial Bank of China (ICBC) unveils its four business loans in Myanmar

  The Industrial and Commercial Bank of China (ICBC) introduced four types of bank loans for employers in Mandalay last week. The bank loans available are working capital loans, project loans, trade finance and syndicated loans, according to the ICBC. The bank also introduced financial services related to Chinese border trade during a discussion on cross-border financial services on Sept. 27 in Mandalay. The repayment period is between one to three years, depending on the type of loan. Loans can be requested in either kyats or US dollars, but the interest rate is 13 percent per year for kyats and 6 to 9 percent per year for US dollars. Depending on the performance of the company, up to 100 million kyats (about US$65,300) can be requested for a syndicated loan.