ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  The average inflation rate hit 7.82 percent in late of May which is slightly increase when compared to the last April

  The average inflation rate in late May was 7.82 per cent, a slight increase compared with 7.51 per cent in late April, according to the figures released by the Consumer Price Index (CPI) and Inflation Rate by the Central Statistical Organisation (CSO). The average inflation rate is calculated using 2012 as a base year. The year-on-year inflation rate was 9.57 per cent. In late May, Magway Region topped the list of inflation with 11.94 per cent, followed by Mon State with 10.28 per cent and Mandalay Region with 10.21 per cent. In November, 2012, the Central Statistical Organization conducted a household and consumption survey on 32,669 households in 82 townships nationwide to calculate the CPI and inflation rate.
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  Thailand could be Myanmar’s gateway, its opening doors to other investors and opportunities for this frontier economy

  Thailand could be the gateway for Myanmar to diversify its borrowing sources by issuing unrated sovereign bonds in a market that is familiar with the country, as Laos did successfully in 2013. For many, borrowing holds a negative connotation. But for most emerging markets, foreign borrowing or external financing is unavoidable – there’s simply not enough domestic capital available to meet lending needs. Governments have a range of options for raising funds. One is to borrow domestically by issuing bonds. But if these are too large or frequent, they can create a situation where there’s not much capital left for the business sector or for private borrowing. Interest rates will then typically rise, negatively impacting the economy.
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  Ministry of Planning and Finance held the meeting for the growth of domestic insurance industry

  Deputy Minister for Planning Finance U Maung Maung Win and officials held a meeting to seek means for further progress of the domestic insurance industry yesterday at Myanmar Insurance (head office) in Yangon. Speaking on the occasion, the deputy minister said permits would be issued for the foreign insurance companies that would join the Myanmar market in the near future, and expressed belief that they would be the facilitator for the growth of domestic insurance industry. He called for intensifying public awareness of the insurance, as most of the people were not familiar with the business till now. “If compared with the industries of the regional countries, ours is much smaller in scope,” added.
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  IKBZ will corporate with Mitsui Sumitomo, Insurance the Japanese company, to provide general insurance services in Myanmar

  IKBZ will cooperate with Japanese company Mitsui Sumitomo Insurance to provide general insurance services. The plan is expected to be operational by September of this year, according to U Nyo Myint, Deputy Chairman of IKBZ. “We will submit a Request of Proposal this month to implement the Joint Venture with Mitsui Sumitomo Insurance,” he said. “They will only approve it if it meets their requirements.” After opening up the insurance sector, the Ministry of Commerce approved five foreign life insurance companies, namely: Japan’s Tokio Marine Holdings, Nippon Life Insurance, Sompo Holdings, Meiji Yasuda Life Insurance and MS&AD Insurance Group Holdings – the latter company on this list being a subsidiary of Mitsui Sumitomo Insurance. The joint ventures will be able to invest up to 35 percent of the share.
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  Myanmar Investment Commission (MIC) approved the twelve investment projects which will create nearly 3,000 job opportunities

  The Myanmar Investment Commission (MIC) meeting (10 / 2019) was convened at the meeting room of MIC in the morning on 28th June 2019 in Yangon. U Thaung Tun, Chairman of MIC, Dr. Than Myint, Vice Chairman of MIC and (9) members attended the meeting.
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  The feasibility study needed before any investment into the tourism infrastructure of Sal Eain Tan beach

  A feasibility study will be made before any investment into the tourism infrastructure of Sal Eain Tan beach two hours south of Yangon. The beach, in Kungyankon Township, and located near the now dilapidated Letkokkon beach resort built by the military government in the 1990s, has become a popular weekend getaway for Yangonites in recent years. Karen Ethnic Affairs Minister Daw Naw Panthinzar Myo said in a June 25 reply to a query from MP U Aung Min Min that the Yangon regional government will study the potential for tourism investment in Sal Eain Tan before making a decision. She added that public-private partnerships would be set up should the regional government see potential to grow the beach as a tourism destination.
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  The foreign developer, Gold Coast KTMG Myanmar proposed the development of new city project which is worth USD $ 38 billion in the suburbs of Sittwe, Rakhine State

  Foreign developer Gold Coast KTMG Myanmar has proposed a US$38 billion “new city” project in the suburbs of Sittwe, Rakhine State’s capital. Sittwe is near eight townships in northern Rakhine currently affected by armed clashes. A KTMG delegation met with U San Kyaw Hla, the speaker of the Rakhine State parliament, and a group of Arakanese lawmakers and military representatives on Tuesday. According to the speaker, the KTMG representatives laid out their proposal for a development project on 7,000 acres of land. He said KTMG initially selected a project location near Kyae Taw and Shwe Min Gan villages across the Sakro Keya creek from Sittwe. U San Kyaw Hla said the officials they were told the company expects the project to cost about $38 billion. He said the project still needed to be cleared by the Union government, in line with foreign investment procedures.
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  Ministry of Agriculture, Livestock and Irrigation is striving to upgrade the laboratories and obtaining ISO certificates with the aim to improve the quality of fishery products

  Doctor Khin Zaw, Permanent Secretary of the Ministry of Agriculture, Livestock and Irrigation, says that the government is trying to improve the quality of fishery products by building diagnostic laboratories and obtaining ISO certificates. At a meeting with the Myanmar Fishery Federation, he stated: “Business owners in the industry need to comply with the health standards. We need active participation from the private sector. For our part, we are trying to upgrade the laboratories for better and more accurate diagnosis.” He urged private business owners to report any outbreaks as soon as they are discovered so that they do not become catastrophes. He also warned that neglecting an outbreak, assuming that it is not serious, could actually cause serious damage to the entire industry. “Myanmar is now seeing new diseases that come from other countries, such as African swine flu,” said Dr. Ye Win Tun, Director General of the Department of Livestock and Veterinary. “We need public and private collaboration and preparation so that we can respond swiftly if there is an outbreak of disease.”
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  The 28th regular meeting of Private Sector Development Committee with local entrepreneurs was held in Yangon

  The 28th Regular Meeting of Private Sector Development Committee with entrepreneurs was held at UMFCCI in Yangon on Saturday. Chairman of Committee, Vice President U Myint Swe attended the meeting and gave an opening speech. The Vice President pointed out that the committee has solved 349 points reported by the entrepreneurs through UMFCCI since the beginning of the Regular Meetings. Private Sector Development Committee was formed in 2016 to implement for the private sector development. Since then, the government has been striving with 5 working committee to be effectively implemented for the development of the private sector. The Vice President stressed that the cooperation between the government and business enterprises, entrepreneurs as well as SMEs is the best strategy to overcome the difficulties and challenges for the development of private sector.
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  Yangon Stock Exchange-listed First Myanmar Investment Public Company Ltd (FMI) continues to see potential for long term growth in finance, healthcare, real estate and tourism despite a drop in earnings in 2019 fiscal year

  Despite a drop in earnings in FY2019, Yangon Stock Exchange-listed First Myanmar Investment Public Company Ltd (FMI), said it continues to see potential for long term growth in finance, healthcare, real estate and tourism, the main sectors in which its businesses are involved. While earnings dropped by almost 42 percent to K14.4 billion for the 12 months ended March 31, 2019 due to a spike in costs incurred to modernise and expand its businesses, FMI nevertheless raked in record revenues of K279.7 billion, which is up 36pc year-on-year. This was mainly contributed by Yoma Bank, which saw its revenue increase by 36.5pc to K254.5 billion due to a rise in interest income from a growing loan book. Yoma Bank’s agriculture financing program which covers loan facilities and hire-purchase products also saw a steady rise in income. Meanwhile, Pun Hlaing Siloam Hospitals enjoyed revenue growth of 32.6pc to K24.9 billion, on the back of stronger demand for its ancillary services and an increase in patient volume.