ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Myanmar will implement the first Standard Operating Procedures (SOP) to get easier investments for both local and foreign investors

  Myanmar will implement its first Standard Operating Procedures (SOP) by collaborating between six government agencies concerned with investments. The collaborations are to ensure investments will be easier for both local and foreign investors, according to U Aung Naing Oo, Permanent Secretary of the Ministry of Investments and Foreign Economic Relations. “The union cabinet has instructed us to draft Standard Operating Procedures to make the governmental agencies procedures more business friendly for investors,” he added. The six government agencies, which will collaborate on the SOP are General Administration Department under Union Government Office, Land Management and Statistics Department under the Ministry of Agriculture, Livestock and Irrigation, Environmental Conservation Department Ministry of Resource and Environmental Conservation, Food and Drug Administration under the Ministry of Health and Sports, Internal Revenue Department under the Ministry of Planning and Finance, and Yangon City Development Committee.
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  Japanese’ metal parts and equipment makers, Nissin Electric Company intend to move its new plant to Myanmar and schedule to start in March 2020

  Metal parts and equipment maker Nissin Electric Co of Japan will build a plant in Myanmar, relocating some production processes from its factories in Thailand and Vietnam to cut labour costs in its contract manufacturing business. The company said last week that it will form a joint venture with Hosoda Holdings Co, a Japanese trader acting as Nissin’s sales agent for the Myanmar market, in the Thilawa Special Economic Zone on the outskirts of Yangon in June, with plant operations scheduled to start in March 2020. The local arm, tentatively named Nissin Electric Myanmar Co, plans to make electrical equipment and take on contract manufacturing of such machines and parts, it said in a statement.
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  Yangon Region Government invited investments in projects within the Yangon Project Bank

  The Yangon Region government yesterday invited investments in projects included in the Yangon Project Bank, a pool of 80 priority projects located in the region. These include new city development, housing, redevelopment, industrial, port, fishery, agriculture, transportation and public space projects, which will be implemented under public-private partnership (PPP) agreements. Phase 1 of the New Yangon City development is estimated to involve investments totalling US$8 billion. Meanwhile, Phase 1 of the Yangon Urban Mass Rapid Transit, the Yangon Central Railway Station Comprehensive Development, Eco Green City Project and Phase 1 of the Inner Ring Road, part of the Yangon Elevated Expressway, are estimated to involve US$1 billion, US$2.2 billion, US$1 billion and U$ 873 million, respectively.
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  Thilawa Multipurpose International Terminal was opened at Plot No.25 and 26 in Thilawa

  Opening ceremony for Thilawa Multipurpose international Terminal at Plot No. 25 and 26 in Thilawa, was held Thilawa Multipurpose International Terminal Co., Ltd hall yesterday morning. Union Minister for Transport and Communications, U Thant Sin Maung and Union Minister for Planning and Finance, U Soe Win and officials look around the current status of terminal construction. Than the Union Minster U Thant Sin Maung delivered key note speech at the ceremony. He said that the ceremony is an Indication of friendship between Myanmar and japan. Kamigumi company building the terminal is a successful organization engineering Terminal related work. As they successfully accomplish this kind of mission in South East Asian Countries , he is confident they will be able to do the same here in Myanmar. Then, Japanese Ambassador Mr. Ichiro Maruyama and Mr. Yasuhiro Shinahara delivered welcome speech.
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  Japanese Government has been assisting comprehensive supports for infrastructure development of Myanmar through ODA loan to contribute for economic growth of Myanmar

  Japanese Government has been assisting for infrastructure development of Myanmar through ODA Loan. Japan provided 8 billion US Dollars ODA loan assistance to Myanmar to spend during five years period. This ODA loan program started in 2016 by the pledge of the Japanese Prime Minister during the visit of State Counsellor Daw Aung San Suu Kyi in Japan so as to contribute for economic growth of Myanmar. Ambassador, Embassy of Japan in Yangon (Myanmar), H.E. Ichiro Maruyama said “We are now providing various sectors for the infrastructure development in Myanmar. Transportation plays very important role for development of the country's economy, so we are carrying out for development of the transportation sector. We assist the main projects like Yangon-Mandalay railway improvement project and it is targeted to complete in 2025 by using 2.5 billion USD. We will also assist for the implementation of Yangon circular railway upgrading project and jetty construction in Mandalay to promote Inland water transport. We are now building Thaketa Bridge in Yangon.”
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  Government authorities will introduce more control on new licenses for the jade mining sector in the future

  The authorities are expected to limit the issue of new licenses for jade mining in the future, said U Aung Nyunt Thein, managing director of Myanmar Gems Enterprise, which is under the remit of the Ministry of Natural Resources and Environmental Conservation. The granting of new licenses will be conducted in phases. “For example, for every 100 blocks available, we will issue licenses for 20 initially. If these are managed well, we will consider granting the next 10. We will focus on a mining plan under which the amount of jade and gems extracted is transparent and traceable,” U Aung Nyunt Thein said at the American Center in Yangon on May 29. The government is taking a more controlled approach after unbridled mining activities took place in the past, particularly at Hpakant and Lone Khin in Kachin State, resulting in excessive extraction of jade, much of which went unrecorded due to poor management and control.
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  SC Auto (Myanmar) Factory was opened in Yangon Industrial Zone where will produce the SC Neustar’ brand, first bus made in Myanmar to European standards

  U Thaung Tun, Union Minister of the Ministry of Investment and Foreign Economic Relations and Chairman of the Myanmar Investment Commission (MIC), attended the opening ceremony of the SC Auto (Myanmar)Factory in the Yangon Industrial Zone of Mingalardon Township this morning. The official opening of SC auto was attended by over 370 representatives of local and oversea motorcar manufacturers and suppliers. The SC Auto (Myanmar) Factory is a 100 percent foreign-owned company based in Singapore, which produces the ‘SC Neustar’ brand of buses/coaches in accordance with the MIC’s permit. Union Minister U Thaung Tun, Chief Minister of Yangon Region Government U Phyo Min Thein and the Singapore Ambassador to Myanmar Ms. Vanessa Chan delivered the opening remarks. Ms. Rachel Lee, Managing Director of SC Auto (Myanmar) Company Limited provided a background briefing on the SC Auto investment in Myanmar. In his address, The Union Minister emphasized that the MIC encourages a responsible business environment – and welcomes investment from firms like SC Auto.
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  China Railway Eryuan Engineering Co (CREEC) was submitted an initial technical report on Muse-Mandalay railway project to the government

  A technical report that is a part of a feasibility study being conducted on the Muse-Mandalay railway as part of the China-Myanmar Economic Corridor has been submitted to the government, according to Myanma Railways and the Ministry of Transport and Communications. China Railway Eryuan Engineering Co (CREEC) submitted the report, which is based on a ground survey along Muse-Mandalay highway road and which includes results from a soil analysis test as well as suggested routes, said U Htaung Shan Khan, general manager of Administration and Planning for Myanma Railways. China-backed CREEC conducted ground survey works in the last week of December, 2018. The technical report was carried out during the first four months of the year. Officials of CREEC and Myanma Railways inspected the ground along proposed routes for the Muse-Mandalay railway project. They also held public meetings with the authorities, residents and township’s elders of Kyaukme, Lashio and Muse, where the railway might pass through.
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  Government’s emergency power plans impossible without the price rises in order to meet the high demand in the next hot few years

  YANGON — Electricity prices need to rise before the government can move forward with plans to meet demand for next hot season, a senior Ministry of Electricity and Energy official says. With many areas of the country suffering from crippling power cuts, the ministry earlier this month announced a range of potential solutions to meet demand in the next few years, including liquefied natural gas barges, imports from China and Laos, and solar photovoltaic projects. U Han Zaw, deputy director general of the Department of Electric Power Planning, said the ministry was under pressure from the government to come up with solutions to the power shortages, which have forced the ministry to introduce scheduled outages since late April and prompted significant public criticism. “It is our responsibility to find ways to prevent blackouts like these in the future,” Han Zaw told Frontier in an exclusive interview.
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  Magwe Region received total K 1.5 billion in investments between last October and April this year

  Magwe Region received K1.5 billion (US$966,000) in investments between last October and April this year, says Regional Minister for Planning and Development U Zaw Min. The investments, all from local businesses, created 134 local jobs between October 2018 and April 2019. In the 2017-2018 fiscal year, the region received six domestic investments totalling K1.57 billion and one foreign investment of US$800,000, creating 277 jobs in the process. For the period from April to September 2018, foreign investments totalled US$2.39 million while domestic investments totalled K2.8 billion. “Last year, Magwe ranked fifth among regions and states in terms of investments received,” said U Zaw Min.