ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Myanmar Government authorities are expected to receive more interested investors in insurance; banking and electricity industries to continue improving in the coming year

  While the oil and gas industry has the seen the most interest from investors, banking and financial services, telecommunications and the manufacturing industries are expected to be the focus in the years ahead as the country’s economy grows. Data from the Directorate of Investment and Company Administration (DICA) shows that since 2016, the manufacturing industries and telecommunications have seen the most interest from foreign investors. DICA data showed that the manufacturing industries have seen between US$1 billion and US$2 billion in investments per year while telecommunications have received US$2 billion per year in the last three years. U Aung Naing Oo, permanent secretary of the Ministry of Investment and Foreign Economic Relations, is expecting investor interest in the services, manufacturing industries and telecommunications to continue improving in the coming year.
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  Myanmar launched the environmental and social impact assessment (ESIA) and preliminary geological survey on Kyauk Phyu Deep-Sea Port (KPDSP) project in Kyauk Phyu

  Myanmar has launched the environmental and social impact assessment (ESIA) and preliminary geological survey of Kyauk Phyu Deep-Sea Port (KPDSP) project in Kyauk Phyu, western Rakhine state, Xinhua reported. Authorized by Kyauk Phyu Deep Sea Port Special Economic Zone Management Committee (KPSEZMC), CITIC Consortium will conduct the start-up works on behalf of the project's Joint Venture incorporated in the future.
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  Myanmar Investment Commission (MIC) approved five projects which will create over 530 jobs opportunities

  The Myanmar Investment Commission (MIC) meeting (11 / 2019) was convened at the meeting room of the MIC on the morning of 10th July 2019 in Yangon. U Thaung Tun, Chairman of the MIC, and (9) members attended the meeting. The meeting approved five projects in the manufacturing, construction, and other services sectors. The amount of USD 93.2 million and Kyat 7,836.066 million have been approved for those projects, which will create 535 job opportunities for Myanmar citizens.
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  Myanmar’s tourism expected to boost after the ancient capital Bagan inscribed on the world heritage site

  Myanmar’s efforts to attract more Western tourists could soon be realised after its ancient capital Bagan was recently inscribed as a World Heritage Site, according to officials and delegates at the 43rd session of the United Nations Educational, Scientific and Cultural Organisation (Unesco)’s World Heritage Committee meeting, which is taking place in Baku of Azerbaijan. Lying on a bend of the Ayeyarwady River in the central plains of Myanmar, Bagan is home to nearly 3,600 ancient monuments, featuring an exceptional range of Buddhist art and architecture. The site’s eight components include numerous temples, stupas, monasteries and places of pilgrimage, as well as archaeological remains, frescoes and sculptures. The property bears spectacular testimony to the peak of Bagan civilisation from the 11th to 13th centuries, according to Unesco.
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  Regional Government hasn’t made any decision on Malaysian proposal for “Sittwe New City” project in capital of Rakhine State

  No decision has been made on a proposal by Gold Coast KTMG Development, a company with Malaysian owners, to develop a new city near Sittwe, capital of Rakhine State, says a senior minister in the state government. “We have not decided on it and there have been no detailed discussions other than the presentation of the proposal. The company needs to submit details to the Myanmar Investment Commission as this is a large project,” U Kyaw Aye Thein, the state government’s Minister of Finance, Revenue, Planning and Economy, said. Gold Coast KTMG representatives met with Rakhine State government officials in June to present the proposal on the so-called “Sittwe New City” project, to be developed on 7,000 acres of land with an estimated cost of US$38 billion.
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  Myanmar delegation will exhibit the Myanmar’s products at the Biofach South East Asia- International Organic Trade Fair and Conference which will held in Bangkok to raise with more exposure to global export market

  On Tuesday morning, Myanmar team comprised of 32 members left Yangon for upcoming Biofach South East Asia - International Organic Trade Fair and Conference to be held in Bangkok from 11th to 14th of July. For development of Myanmar’s biotrade export market, Myanmar team made up of members from Myanmar Tea Planters, Producers and Exporters Association and Myanmar Thanakha Planters, Producers and Exporters Association, representatives from Helvetas Myanmar and entrepreneurs from businesses of Myanmar tea, Thanakha and Jujube is fully prepared to exhibit products of Myanmar at the South East Asian level trade fair. Representative, Salay Shae Saung Co., Ltd. (Shan & Kayah States), Nan K Ngin said “At the upcoming trade fair, "Say Ma Kyee" or medicated tamarind which is good for our health will be exhibited. We want to analyse our own product’s weaknesses, strengths and requirements by exhibiting. Our products will be exported to global market once they are in the safe side.”
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  Yangon Region Investment Committee was approved the new investments which will create over 3,000 jobs opportunities

  Yangon Region Investment Committee on June 27 approved seven foreign investment proposals and one local investment proposal. The foreign investments total $8 million, the local investment is worth K2.5 billion. The investments are expected to create over 3,000 jobs opportunities. “In approving foreign investment proposals, our regional government can approve investments lower than $5 million. If the investment amount is above $5 million, then it becomes Myanmar Investment Commission responsibility, they have the authority to approve those proposals. The regional government can only make suggestions. We are trying to streamline investments in Myanmar,”said U Phyo Min Thein, Chief Minister of Yangon.
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  Myanmar’s corporate executives upbeat the growth prospects on Myanmar’s economy which is remain deeply concerned on the lack of transparency in the business environment

  Corporate executives in Myanmar are upbeat about growth prospects but remain deeply concerned about the lack of transparency in the business environment, the latest Oxford Business Group (OBG) survey reveals. “We saw, somewhat surprisingly, that business sentiment in general was positive. It remained pretty resilient despite the headwinds that the country faced,” OBG Asia regional editor commented at the survey launch. After three years under the administration led by Daw Aung San Suu Kyi, more than two-thirds (69pc) of respondents describe their near-term expectations for business conditions as positive or very positive, with only slightly fewer (66pc) saying they expect their companies to make a significant capital investment in the year ahead.
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  Kachin Regional Government is prepared the master plan for Chinese-backed model economic zone along the China-Myanmar Economic Corridor

  A Kachin State minister said a master plan for a planned, Chinese-backed, model economic zone along the China-Myanmar Economic Corridor has been prepared, and the Myanmar government is engaged in deep discussions with the company for the project’s implementation to avoid further challenges. The Kachin State government and the Yunnan Tengchong Heng Yong Investment Company (YTHIC) signed a memorandum of understanding (MOU) in May 2018 for implementation of the Myitkyina Economic Development Zone (MEDZ), also known as the Namjim Industrial Zone, which is 25 kilometers from the Kachin State capital of Myitkyina. YTHIC and the Myitkyina Economic Development Zone Committee (MEDZC), formed by the Kachin State government, are expected to build the massive MEDZ on approximately 4,700 acres of land along historic Ledo Road.
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  Myanmar and Japanese governments will revive a joint venture and sign an agreement on building Hanthawaddy airport near Bago next year

  Myanmar and Japan will form a joint venture and sign an agreement next year to kickstart the long postponed Hanthawaddy International Airport project located 80km north of Yangon near Bago. According to several government officials, both the Myanmar and Japanese governments have met at least four times to nail down details of the project, which would be financed by Japanese government loans and involve the country’s construction and airport operators. While details on cost have not been announced, the last tender valued the project at US$1.5 billion. The Japan International Cooperation Agency has estimated the project to cost US$2 billion. The new airport would be built on some 3600 hectares of land belonging to the Department of Civil Aviation (DCA). Also, an updated design for the airport would have to be approved, with a connection to the railway network included.