ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

• 

  Myanmar Responsible Business and Human Rights Forum was convened in Yangon in order to improve rights for business, space and sustainable development local businesses to international standards

  Actions to improve rights for business, peace and sustainable development, as well as to build better business landscape by applying international standards are in full swing in Myanmar. Myanmar Responsible business and human rights forum convenes in Yangon on Thursday. The forum will provide a space for dialogue between governments, business, academia, civil society and international organizations on trends, challenges and good practices to further support rights-respecting businesses. International experts highlighted on the human rights violations, actions that the local businesses need to address to meet the international standard and government actions to promote the responsible business in the country.
• 

  Myanmar authorities are planning to improve the quality of its indoor network coverage as part of preparing for the fifth generation of wireless technology (5G)

  WITH MORE people moving to major cities for better opportunities, Myanmar is planning to improve the quality of its indoor network coverage as part of preparing for the fifth generation of wireless technology (5G), officials say. Soe Naing, deputy director-general of the Posts and Telecommunications Department, told the recent Myanmar Indoor Coverage Digitalisation Summit 2019 that the country would focus on improving the indoor experience of users, given that more than 70 per cent of the traffic occurs indoors, especially in urban areas. “As Myanmar has a hot climate and a long rainy season, people usually spend their time mostly in indoor areas,” he said. “The quality of the indoor network greatly affects the user experience. In the future 5G era, we will need more and more indoor sites, especially in highly intensive areas such as shopping malls and residential buildings.”
• 

  Exploration drilling will commence in 2019 and 2020 for oil and gas companies that won tenders in 2014 and 2015

  Exploration drilling will commence this year and next for oil and gas companies that won tenders in 2014 and 2015, based on the contracts signed with the with Myanmar Oil and Gas Enterprise under the Ministry of Electricity and Energy (MOEE), ministry officials said. This is the next phase after seismic surveys and testing operations were carried out over the past five years under the terms of the Production Sharing Contracts (PSCs) between the companies and the government. It includes both onshore and offshore drilling. Around 20 oil and gas companies, including Thailand’s PTTEP, Italy’s ENI, South Korea’s Daewoo and Australia’s Woodside Energy have commenced drilling and other geological and seismic activities in Myanmar so far this year. “The companies have reached the drilling phase under the contract. Should they decide that it is not commercially viable to move on to production after drilling has been conducted, they can choose not to continue with the contract,” said U Min Min Oo, assistant secretary of the MOEE. In the past, some firms gave up their blocks after the study period, claiming there were no prospects. “By drilling, the companies can decide if there are sufficient reserves or not. If they believe the prospects are good, they will spend the money to continue drilling,” he said.
• 

  The Responsible Business Fund provides financial support to 504 Small and Medium-sized Enterprises in seven sectors in order to develop SMEs in Myanmar

  To help develop Small and Medium-sized Enterprises in Myanmar, the Responsible Business Fund is providing financial assistance to 504 SMEs in seven sectors. The fund has been providing monetary assistance, particularly to innovation-related projects in seven sectors, for the development of the practice of doing business in a responsible manner. Additionally, the RBF is aiming to encourage tough competition in conducting business. The seven sectors receiving assistance are concerned with energy wastage, water resource utilization, disposal and recycling of waste, healthcare and security, food safety, supervision and monitoring technologies, and empirical and theoretical technologies. The RBF is funding 50-80 per cent of the total cost of the projects in the seven sectors, said U Thar Lin Htet, Grant Manager, RBF.
• 

  The government promises to assist Myanmar’s coffee industry growth

  For many people around the world, the day does not truly begin until the coffee is brewed. If there is no coffee, this may be a rather ominous sign that the day may not go well. Coffee is such an integral part of modern society that an entire industry supports it, from the farmers who grow the coffee – those dear, sweet individuals who support the rest of us and allow us to continue enjoying life and accomplishing our work – to those who sell, trade, ship, roast and package the coffee. Without all of these splendid people and the hard work they do, one could speculate – perhaps with some degree of correctness – that the world would simply cease to function. Myanmar is a growing player in the coffee industry, and the government is thus taking steps to help improve conditions for coffee farmers and entrepreneurs. According to U Hla Kyaw, the Deputy Minister for the Ministry of Agriculture, Livestock and Irrigation, his ministry has promised to apply innovative ideas to improve the quality of coffee strains, and to provide assistance for the entire chain of production. This announcement came at the Myanmar Coffee Forum 2019, which was held in Mandalay.
• 

  Myanmar’s fuel market was opened up to foreign competition to great fanfare since 2017 which is in standstill

  In 2017, the fuel market was opened up to foreign competition to great fanfare – so why have investors stayed away? IN JULY 2017, Frontier reported on the longstanding frustration among drivers in Myanmar at the poor quality of fuel sold at local stations. Just a few months earlier, the Myanmar Investment Commission had abolished a requirement that foreign investors in the sector partner with the Ministry of Energy and Electricity. The larger local players were already aligning with foreign partners. “The long fuel lines at the few private stations with a good reputation could soon be a thing of the past,” we wrote. Almost two years later, though, there has been almost no perceptible change: few foreign brands, the same old complaints from drivers about price and quality. But a long-closed, profitable market has supposedly opened up, so why have investors mostly stayed away? Although there is no single answer, it’s certainly not lack of interest. Back in mid-2017, Shell, Total, PTT and CNPC among others were all said to be in the middle of talks with potential partners.
• 

  In partnership with the global technology company software group, Dawn Microfinance Company Ltd (DAWN) will provide efficient and affordable financial services to the people in Myanmar

  Early Dawn Microfinance Company, Ltd. (DAWN) is partnering up with the global technology company Software Group to provide efficient and affordable financial services to Myanmar’s people. The institution will implement a Digital Field Application (DFA) solution to improve operations in the field, streamline operational workflows, and improve convenience for clients. DAWN, one of Myanmar’s largest microfinance institutions, operates across six regions in the nation. It provides financial tools and education to its clientele of over 200,000 micro-, small-, and medium-sized business owners – most of whom are women. The institution’s loan officers, who play a major role in reaching the financially excluded, currently face challenges in efficiently servicing clients because of paper-based field processes, not to mention trips to and from various branch locations. With the adoption of the DFA solution by Software Group, DAWN staff will have more time to spend in the field, supporting micro-entrepreneurs and small-to-medium-sized business owners across Myanmar. This will boost sustainable growth in low-income communities.
• 

  German businesses are keen to continue fostering trade and investment ties with Myanmar

  Germany is keen to continue fostering trade and investment ties with Myanmar, said Oliver Hoos, first secretary and head of the economic and commercial section at the German Embassy in Myanmar. Mr Hoos added that German businesses are also keen to invest in the Myanmar energy and agriculture sectors, adding to the US$32 million worth of investments by four other German businesses in Myanmar to-date, according to the Directorate of Investment and Company Administration. The largest investment by a Germany company in Myanmar is Metro Wholesale, which has channeled approximately US$10 million into its business operations in the country. Metro Wholesale is involved in food service distribution for hotels, restaurants, catering firms, independent small retailers and offices. It is a joint venture partnership between Metro AG, the German specialist in wholesale food and Yoma Strategic Holdings Limited, which is listed in Singapore. Metro Wholesale procures its raw materials directly from local farmers.
• 

  Total 2,200 acres of land, Htantabin Industrial Zone project in the northern district of Yangon will be implemented in end of September 2019

  The Yangon Region government is planning to develop industrial zones in 10 townships, and the Htantabin Industrial Zone project will be implemented on 2,200 acres of land in Htantabin Township in the northern district of Yangon, where Hline, Kokkowa, and Bawle rivers meet. The industrial zone project was initiated in August, 2018. During a preliminary discussion between the Yangon Region authorities and a foreign company, 1,000 acres was designated for the project. After a feasibility study, the zone will be developed on 2,200 acres of land, which is located a mile away from Htantabin Township and near the point where the Hline, Kokkowa, and Bawle rivers meet. Prior to the project implementation, Naw Pan Thinzar Myo, the Yangon Region Minister for Kayin Ethnic Affairs, Hluttaw representatives, and officials of concerned departments met with the local residents at the Htantabin Township General Administration Department office in a bid to make the project transparent. After four rounds of discussions between the authorities and locals, the project received the support of the local residents.
• 

  Italy will loan with an interest-free €30 million (K51 billion) loan to Myanmar’s National Electrification Project (NEP) to facilitate electrification process

  Italy will extend an interest-free €30 million (K51 billion) loan towards Myanmar’s National Electrification Project (NEP). An agreement between the two countries was signed yesterday. The loan comes with a grace period of 18 years, after which it should be paid back within ten years. It was approved in Parliament in August 2018. The funds will be used to develop rural off-grid projects implemented by the Department of Rural Development under the Ministry of Agriculture, Livestock and Irrigation (MOALI). This will bring electricity via solar power and small-scale power systems to an estimated 96,500 households in 2019 villages in Chin State, one of the country’s poorest and most inaccessible areas, and Sagaing Region.