ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  The International Finance Corporation (IFC) will increase the access for small and medium business to finance aiming to better serve in business operation

  Yangon-listed Myanmar Citizens Bank (MCB) inked an agreement with the International Finance Corporation (IFC) to increase access to finance for small businesses and individuals. The IFC will provide advice to the public lender to transform and modernise its business operations to better serve small businesses. The project will be delivered over two years and will focus on optimising products and channels, improving branch and sales networks, optimising credit and risk management strategies as well as streamlining organisational management. “Successfully implementing this transformation project will significantly strengthen our SME and retail banking segments and will help thousands of businesses in Myanmar gain access to better banking,” said MCB chair U Toe Aung Myint.
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  Yangon aimed to complete USD $ 120 million Nyaung Na Pin industrial Zone by 2025

  Yangon is aiming to complete the $120 million Nyaung Na Pin Industrial Zone located in Hlegu Township, Yangon Region, according to U Set Aung, member of Myanmar Investment Commission. The project is being implemented by KMIC Development Company Limited and is jointly established by the Ministry of Construction and Korea Land and Housing Corporation. “Once the project is finished, companies and industries from Korea and other countries will come and make investments,”he added.
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  Myanmar Government set to ink a framework agreement with China on border cooperation zones establishment which is part of Belt and Road Initiative (BRI)

  The Myanmar government is ready to sign a framework agreement with China on the establishment of cross-border economic cooperation zones, paving the way for the implementation of Beijing’s grand infrastructure plans in the country as part of its Belt and Road Initiative (BRI). The assistant permanent secretary and spokesperson for the Ministry of Commerce, U Khin Maung Lwin, told The Irrawaddy, “The related government ministries have already reviewed a framework agreement proposal submitted by China.” “We received comments from the related ministries. We also reviewed the proposal with experts. We will send the proposal back to China. Our side is preparing to sign [a framework agreement] very soon,” he said. According to U Khin Maung Lwin, the framework will cover a number of major agreements, particularly on the formation of a bilateral joint committee for the implementation of the cross-border economic cooperation zones; the assignment of management roles for the zones; and types of incentives for investors.
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  Department of Civil Aviation (DCA) started its tender process for Kawthoung airport upgrading project in Tanintharyi Region

  The Department of Civil Aviation (DCA) last week started a tender process for the upgrading of Kawthoung airport in Tanintharyi Region and is now calling for requests for proposals. Interested parties have until November to submit the relevant documents. The entity undertaking the upgrade must be structured as a special purpose company with at least 65 percent of the shares held by Myanmar citizens. The DCA said in a statement that the project can be either a private investment by the company or a partnership with the department. The scope of works includes constructing new airport facilities such as runways, terminals, airport aprons, control tower, warehouses and parking. The terms of agreement include allowing the private companies to run the airports under a 30-year upgrade, operate and maintenance contract, which comes with an option to extend for another 10 years.
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  Mekong-Japan Exchange Year 2019 hold in Nay Pyi Taw which intends to promote the social and economic sectors among the countries in Mekong region

  Myanmar hosted Mekong-Japan Exchange Year 2019 at Thingaha Hotel in Nay Pyi Taw on 14th of August. The ceremony was commenced with the traditional dances and performances staged by the artistes from Japan and Mekong region countries. State Counsellor DawAung San SuuKyi graced the ceremony and delivered an opening remark. Introduced by the Government of Japan, the Japan-Mekong Partnership Programme has started in 2007 with the member States of Cambodia, Laos, Thailand, Vietnam and Myanmar. The program intends to promote the social and economic sectors among the countries in Mekong region; especially Japan will expand its ODA to CLMV countries in order to develop its East-West Economic Corridor and Southern Economic Corridor in the Mekong region.
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  Tah Moe Hnye Group Investment and Development Co., Ltd proposed development of an industrial park in Thanlyin Township, Yangon

  Local conglomerate Tah Moe Hnye Group Investment and Development Co Ltd is proposing the development of an industrial park in Thanlyin township, Yangon Region. The Thanlyin industrial park, located just southeast of the commercial capital of Yangon across the river, is one of 11 new industrial parks proposed by the regional government at the Yangon Investment Forum 2018 held in May last year. Tah Moe Hnye together with their Chinese partner has proposed that the park focus on garment and furniture manufacturing. Yangon Region chief minister U Phyo Min Thein, who met with Tah Moe Hnye officials and their Chinese partner on August 13, said the regional government will study the proposal as well as do the due diligence on the finances, experience and past work of the companies involved.
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  With the support of the UK’s Department for International Development, the Asia Foundation published Myanmar’s first business environment index

  Myanmar’s first business environment index, surveying nearly 5000 companies, reflects how the private sector views governance, transparency and efficiency as implemented by central and local government. The findings provide policymakers with a set of data for making evidence-based decisions. The Asia Foundation has published the first Business Environment Index (MBEI) for Myanmar, with the support of the UK’s Department for International Development. The index is based on a nationwide survey of 4874 companies - many of them small and medium-sized enterprises - in services and manufacturing industries and represents the voice of the private sector across the country. It measures 10 components of good economic governance and provides data and analysis which policymakers may use when reforming the business environment.
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  Rakhine State Government invited local and foreign companies to submit an Expression of Interest (EOI) for Sittwe development projects in Rakhine State

  Rakhine State’s Minister of Planning and Finance has invited local and foreign companies to submit an Expression of Interest (EOI) for a development project on 13.6 acres of state-owned land in Sittwe, the capital of Rakhine State, Myanmar. The project will include shops, residential housings, a business center, and ports. This opportunity is open to all investors, local or foreign and enen joint-venture companies, according to Dr. Htoo Min Thein, Director of Directorate of Investment and Company Administration (Rakhine State). The Rakhine State Government and BXT International Company have completed land preparation for the project, and are ready to move forward with investors. “We invite everyone to submit EOIs, whether they want to invest for a 20 or 50 year period,”he added.
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  Myanmar’s securities regulator and the Yangon Stock Exchange are planning to establish an alternative market for investors where can trade shares of unlisted companies

  Myanmar's securities regulator and the Yangon Stock Exchange are planning to establish an alternative market where investors can trade shares of unlisted companies, the Nikkei Asian Review reported. Tentatively called the Myanmar Public Companies Board, the new market will be a steppingstone for companies to list on the fledgling Yangon Stock Exchange, according to a document that Nikkei obtained.
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  Roland Berger Company Limited chosen to provide consultation services for foreign banks in Myanmar

  The Roland Berger Company Limited has been chosen to provide consultation services for the selection of foreign banks, under the third wave of economic liberalization in Myanmar, according to an announcement by the Central Bank of Myanmar (CBM), state media reported. Four firms out of eight consulting subsidiaries in Myanmar had submitted Requests For Proposal (RFPs) to provide consultation services for the selection of foreign banks. The RFPs were invited as the CBM is moving forward with the liberalization process.