ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Myanmar government held the 1st BIMSTEC Ministerial meeting on Agriculture sector in Nay Pyi Taw to ensure sustainable and inclusive development and promoting cooperation in agricultural sector

  Myanmar hosted the 1stBIMSTEC Ministerial Meeting on Agriculture at Hilton Hotel in Nay Pyi Taw on 12th July. Union Minister for Agriculture, Livestock and Irrigation Dr. Aung Thu and Secretary General of BIMSTEC Ambassador M. Shahidul Islam delivered speeches. As the agricultural sector is one of the 14 areas of BIMSTEC cooperation, the Union Minister called for economic cooperation among member states to ensure sustainable and inclusive development, and promoting cooperation in agricultural sector. As per the decision of 4th BIMSTEC Summit held in Nepal last year, Myanmar hosted the 1st BIMSTEC Ministerial Meeting on Agriculture, and the 1st BIMSTEC Experts Working Group on Agriculture Meeting.
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  Myanmar earned USD $ 469 million from export sector when compared to the same period of last fiscal year

  Myanmar earned US$2.625 billion from October 1 to June 28 in this fiscal year and it is US$469 million more compared with the same period in last fiscal year, according to Ministry of Commerce. Myanmar is exporting its products through maritime and border trades. Although maritime export is reduced a little in this fiscal year, total export volume is bigger than last fiscal year as border trade amount is increased. Myanmar earned US$18.249 billion from maritime trade and it is less than US$805 million compared with the same period in last fiscal year.
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  Tanintharyi Region Government will call for the tender to coverage the power generation and distribution in the capital of Tanintharyi Region, Dawei district

  In a move to ensure that Tanintharyi Region’s capital Dawei continues to have electricity, the regional government has invited companies to bid for a new tender to supply electricity to the capital and surrounding area, known as Dawei district. The regional minister for electricity and energy U Aung Thura told The Myanmar Times that the tender, covering both power generation and distribution, would be for five years or until Dawei can tap power from the national grid. Interested companies have up until August 8 to place a deposit of K30 million with the Myanmar Economic Bank. U Aung Thura said Dawei district could get its power needs from the national grid as early as next year. He explained that the company successful in the tender would take over from GGS but would have to hand over to the national grid should coverage reaches Dawei.
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  Myanmar tourism authorities expected to remain positive after visa restrictions eased for foreign visitors

  With the easing of some visa restrictions to attract more Western tourists to take effect on October 2019, Myanmar expects to receive more visitors this year, a senior official said. Aung Aye Han, deputy director general at the Ministry of Hotels and Tourism, said the authorities see a bright outlook for Myanmar's tourism industry thanks to the efforts of key stakeholders. We witnessed a 24 per cent increase in tourist arrivals in the first half of this year. So we hope to receive more in the second half," he said. As of May, Myanmar received 1.84 million visitors, up 24 per cent from the same period of last year. More than 3.55 million visited the nation last year. "Our recent visa relaxation will take effect soon. Starting from October 1, visitors from Australia, Germany, Italy, Russia, Spain and Switzerland no longer need to apply for a visa in advance," he said.
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  The Securities and Exchange Commission of Myanmar will allow foreign individuals and locally-registered entities to invest in listed shares of up to 35 percent at the Yangon Stock Exchange (YSX)

  Myanmar will allow direct foreign ownership of shares at the Yangon Stock Exchange (YSX), a move designed to throw a lifeline to the country’s only bourse. In a notice on Friday, the regulator, the Securities and Exchange Commission of Myanmar, said foreign individuals and locally-registered entities would be allowed to invest in listed shares of up to 35pc. No timeline was given but Ko Aung Thaw Zin, research analyst at business information firm Frontier Myanmar Research (FMR), expects such trading to start by year end. “It’s unclear [from the notice] whether both resident and non-resident foreigners will be permitted to trade. I understand the SECM has already prepared the follow-on regulations, which is likely to allow [only] resident foreigners,” he added.
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  The seven companies expressed their expression of interest (EOI) in Mandalay Palace restoration

  MANDALAY—Seven companies have submitted expressions of interest (EOI) to develop Mandalay Palace, the last royal palace of the last Burmese monarchy, as a historical park, according to the Mandalay regional government. EOIs were invited for submission beginning June 17 and the regional government received seven EOI applications through the first week of July. The deadline for submitting an EOI application is July 22, Mandalay Regional Planning and Finance Minister U Myat Thu told The Irrawaddy. EOIs are also welcome in the development of Inwa, or Ava, the ancient royal capital of successive Burmese kingdoms from the 14th to 19th centuries, as an archaeological park as well. Inwa is in Tada-U Township, Mandalay Region.
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  Japanese corporation Fuji conducted a feasibility study on implementing production of electricity and fertilizer from the waste in Monywa

  The Japanese corporation Fujita is conducting a feasibility study on implementing production of electricity and fertilizer from waste in Monywa, according to Kyaw Myo Win, chairman of Monywa Township Municipal Committee. The Osaka based Zaibatsu will provide 40 percent through its Myanmar branch while the remaining 60 percent will be provided by the regional government. "The project is in its initial stage. They are just conducting feasibility study. From waste disposal, they will produce fertilizer and then electricity," said Kyaw Myo Win, chairman of Monywa Township Municipal Committee.
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  Shwebo Rice Trading Center is planning to change its corporate status to public to be on par with other trading centers in Myanmar which will help elevate the center’s presence in the international market and make easier to conduct export activities

  After opening its fifth outlet in Sagaing Region, Shwebo Rice Trading Center is planning to change its corporate status to public to be on par with other trading centers in Myanmar, U Phyo Thura, vice president of the company, told The Myanmar Times on July 10. This will help elevate the center’s presence in the international market and make it easier to conduct export activities, he said. Public companies are required to obtain permission from both the Directorate of Investment and Company Administration and the Securities Exchange Commission of Myanmar before they are officially allowed to sell their shares over the counter. Unlike a private company, which has a shareholder limitation of not more than 50, there is no shareholder limit for public companies.
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  The report of Myanmar Extractive Industries Transparency Initiative (MEITI) published last Thursday

  The contribution of the forestry sector to GDP is 0.2% of total Myanmar GDP with over 698 billion kyats in 2014-2015 fiscal year, according to the report of Myanmar Extractive Industries Transparency Initiative (MEITI), published on Thursday. In 2015-2016 fiscal year, over 714 billion kyats have been contributed to the country GDP by the forestry sector. The annual production during 2014-2015 fiscal year was over 44,000 Hoppus tons of teak and over 620,000 Hoppus tons of hardwood. In 2015-2016 fiscal year, more than 60,000 Hoppus tons of teak and over 610,000 Hoppus tons of hardwood were produced. The reports stated that Sagaing Region has the highest harvested quantities with 47% of total teak harvest and 66% of total hardwood harvest in Myanmar and Shan State is the 2nd highest with 27% of teak and 6% of hardwood harvested.
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  Denmark’s Responsible Business Fund (RBF) will provide its fourth loan, Ks 5 million for the development of Small and Medium Enterprises (SMEs) in Myanmar

  Denmark’s Responsible Business Fund (RBF) will provide its fourth loan, of kr5 million ($755,925 USD, or K1.13 billion), for the development of small- to medium-sized enterprises (SMEs) in Myanmar. The RBF, which is part of the Danish Development Assistance to Myanmar, started in September 2017 with the specific goal of rendering assistance to SMEs in this country. Local SMEs that would like assistance can apply for a grant from the fund between July 1 and July 22 of this year. SMEs working in fields such as wastewater treatment projects in Yangon, energy efficiency projects in other states and regions, water use efficiency and recycling, occupational safety and health (OSH), food safety, managerial and supervisory skills, or practical and technical skills may apply for grants.