ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  The World Tourism Day 2019 was held in Nay Pyi Taw aiming to ensure a better future for all people by creating various jobs opportunities

  World Tourism Day 2019 was organized at the Myanmar International Convention Center II in Nay Pyi Taw yesterday, under the theme of ‘Tourism and Job: A Better Future for All’ State Counsellor Daw Aung San Suu Kyi and Vice President U Henry Van Thio attended the ceremony, together with Union Ministers Dr Pe Myint, Thura U Aung Ko, U Thant Sin Maung, U Thein Swe, U Soe Win and U Ohn Maung; the Chairman of Nay Pyi Taw Council, States/Region Chief Ministers and ministers, departmental heads, members of the National Tourism Development Central Committee, ambassadors, UN agencies, international development partners, representatives from the Myanmar Tourism Federation and associated groups, award-winners in the contests to commemorate the World Tourism Day, and invited guests. State Counsellor Daw Aung San Suu Kyi looked around the displays of tourist attractions in the states and regions, the implementing community based tourism programmes, tourism business firms, attractions to tourism investments and bicycles to be donated by the Flymya Tech Co, Ltd. to the 52 villages where community-based tourism is being implemented. The ceremony was opened with the song entitled ‘Welcome with Golden Hands’ performed by artistes from the Fine Arts Department of the Ministry of Religious Affairs and Culture. Vice President U Henry Van Thio, chairman of the National Tourism Development Central Committee gave an opening speech at the event.
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  Press conference on Industrial and Infrastructure Event will be held in October at UMFCCI building in Yangon

  A press conference on Industrial and Infrastructure Event to be organized in coming October was held at UMFCCI in Yangon on Tuesday. The Industrial and Infrastructure event for Myanmar will be held from 9th to 11th October at Myanmar Expo. Infoma Markets organize the event with the support of UMFCCI, Myanmar Industry Association (MIA), Myanmar Federation of Mining Association (MFMA), Myanmar Construction Entrepreneurs Federation (MCEF), Myanmar Construction Entrepreneurs Federation (MCEF), Renewable Energy Association of Myanmar REAM) and Federation of Myanmar Engineering Societies (Fed,MES). The event will feature Industrial Machinery, subcontracting and Sourcing, Building and Construction, Mining and Power and Renewable Energy. And it will gather the key renewable energy industry players to meet with professionals, trade visitors, government representatives, buyers and leaders and many others.
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  Myanmar’s economy expected to pick up 6.8 percent in the next year after Myanmar opened up to more foreign investment

  Myanmar’s economy is forecast to expand to 6.4 percent in the current fiscal year and pick up to 6.8 percent in the next, according to a report on the economy in Southeast Asia released by the Institute of Chartered Accountants in England and Wales (ICAEW) on Tuesday. The report said that the forecast for Myanmar’s economy is positive as the country’s markets opes up to foreign investment, with the infrastructure, manufacturing and wholesale and retail services sectors expected to be the greatest beneficiaries. After a 14 percent drop in foreign direct investment to US$5.7 billion in 2018, currently foreign direct investment inflows are improving. According to the Myanmar Investment Commission, foreign direct investment inflows rose sharply with the bulk of investments channelled into transportation, communication, and manufacturing.
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  The trade volume between Myanmar and Thai can be reached up to 10 billion per year if infrastructure improved

  The volume of trade between Myanmar and Thailand can reach up to $10 billion per year if the infrastructure is improved, said Mr. Thanawut Naigowit, Minister Counsellor of Commercial Affairs of the Royal Thai Embassy in Yangon, at the Thai-Myanmar Business Matching Logistic 2019 event held at Pullman Hotel in Yangon on September 11. Around 80 percent of trade from the two countries is done through border trade posts, and there are cases in which fresh fish, meat, and fruit ended up spoiling as a result of slow transportation through the area. “We’ve brought in 14 Thai logistics companies to this conference, which is the first time a logistics conference was ever held in Myanmar. This event is aimed at improving logistics in Myanmar,” he said.
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  Myanmar Oil and Gas Enterprise (MOGE) owes more than USD $ 1.6 billion from China due to the high domestics demand to implement projects including and oil and gas pipeline

  Myanmar owes China more than US$1.6 billion which it borrowed on high interest to implement projects including an oil and gas pipeline, according to a Myanmar Alliance for Transparency and Accountability (MATA) statement released based on an Extractive Industries Transparency Initiative report. It has so far repaid more in interest than the amount borrowed for projects including $243.6 million for the Yadanar-Yangon gas pipeline, $559.9 million for the Southeast Asia Natural Gas Pipeline and Shwe Offshore Natural Gas Development Project and S$ 851 million for the Southeast Asia Crude Oil Project. Based on the data, Myanmar Oil and Gas Enterprise (MOGE) borrowed a total of $1.6 billion for construction of the pipeline infrastructure mainly to sell oil and gas produced in Myanmar to China, the report said.
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  Myanmar authorities warned that undeveloped land in industrial zones in Yangon Region could be confiscated

  Myanmar authorities have warned that undeveloped land plots in industrial zones in Yangon region could be confiscated, saying that unless concrete reasons are provided, the industrial business would be revoked, Xinhua reported. According to the Yangon City Development Committee Wednesday, there are 29 industrial zones in Yangon region and about 60 percent of the plots are being utilized, while the rest remain undeveloped with only warehouses and fencing built.
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  Myanmar’s economy forecast to growth by 6.4 percent in 2018 – 2019 before picking up to 6.8 percent in 2019 – 2020

  Myanmar's economy is forecast to expand to 6.4% in 2018-19, before picking up to 6.8% in 2019-20, as the market opens up to foreign investment, according to the Institute of Chartered Accountants in England and Wales’s (ICAEW) latest Economic Update: South-East Asia report. However, the ongoing Rakhine crisis is a key risk to the economy, with tourism and trade with the European Union (EU) potentially experiencing slowdowns. Overall economic growth across the region in H1 2019 slowed to 4% on the year compared to 4.5% in H2 2018. This is the result of spillovers from the US-China trade war, slower Chinese domestic demand and a downturn in the global electronics cycle. Slower export momentum weighed heavily on the growth of trade dependent economies such as Singapore, Thailand and the Philippines. Meanwhile, Malaysia and Vietnam have outperformed the region, reflecting a more modest deceleration in export growth and resilient domestic demand.
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  Ministry of Commerce launched three year Myanmar Services Trade Enhancement Project in Nay Pyi Taw

  Ministry of Commerce launched Myanmar Services Trade Enhancement project on Tuesday. Officials from the World Trade Organization Enhanced Integrated Framework, Ministry of Commerce, UNCTAD, World Bank, EU and partner organizations as well as representatives from UMFCCI attended the launching ceremony in Nay Pyi Taw. According to the Deputy Minister for Commerce, Myanmar trading industry sees great improvement but still needs more efforts not only in trading industry but also in logistics and services for the trading. To fulfill the needs, Myanmar services Trade Enhancement Project (M-STEP) has been launched for three years from June 2019 to June 2022. Officials also said Myanmar will receive about 2.1 million USD for implementing this project from the enhanced integrated framework by the World Trade Organization.
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  There are prospects to unlock the potential of Myanmar, China, India and ASEAN as market after Korea – Myanmar Industrial Complex (KMIC) is setting up to be among the best industrial complexes in Myanmar

  The Korea-Myanmar Industrial Complex (KMIC) is set to be among the best industrial complexes in Myanmar and will help unlock the potential of Myanmar, China, India, and ASEAN as markets, Kim Gunwoo, general manager of the Korea Land and Housing Corporation (Myanmar), said in an interview with The Myanmar Times. Korea Land and Housing Corporation (Myanmar) is overseeing the construction of the industrial complex north of Yangon. Earlier this month, during an official visit to Myanmar, South Korea’s President Moon Jae-in attended the opening ceremony for the complex. KMIC is one of two large projects being undertaken by the South Korean government in Myanmar, the other being the Dala Korea- Myanmar Friendship Bridge also in Yangon. KMIC is being built on a 224 hectare site about 10 kilometres north of Yangon, near Nyaung Na Pin Village in Hlegu Township, Yangon. The complex is being built as a 60-40 joint venture by government-owned Korea Land and Housing Corp and Myanmar’s Ministry of Construction.
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  International Rubber Conference and annual meeting will be held in Nay Pyi Taw with the aim to extend extra visions for all rubber planters and producers in Myanmar

  Under the theme of “way forward for the nature rubber industry and way forward for the competitiveness and sustainability, the 2-day International Rubber Research and Development Board’s Annual Meeting and International Rubber Conference” are set to be held in Nay Pyi Taw. The International Rubber Research and Development Board (IRRDP) have been organizing Annual Meeting and International Rubber Conference by rotating among the member countries under the different themes. This year, Myanmar will host as the very first time under the arrangement of Myanmar Rubber Planters and Producers Association (MRPPA) with the aim of extending extra visions for all Myanmar’s Rubber Planters and Producers as being one of the member countries. At the coming conference, professionals from the 20 member countries will read out the 60 International Research Papers including 9 from Myanmar concerning rubber species, rubber plantations, rubber productions and many more various sectors.