ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  The 27th Regular meeting of Private Sector Development Committee with entrepreneurs was held in Yangon to implement in cooperation between government and entrepreneurs for the private sector development

  The 27th Regular Meeting of Private Sector Development Committee with entrepreneurs was held at UMFCCI in Yangon on Wednesday. Chairman of Committee, Vice President U Myint Swe attended the meeting and gave an opening speech. Chairman of the Private Sector Development Committee, Vice President U Myint Swe pointed out that the committee has implemented 394 points reported by the entrepreneurs since the beginning of the Regular Meetings. He stressed that it is important to implement in cooperation with the relevant ministers and entrepreneurs to lessen the difficulties and obstacles for the private sector development. Vice President, The Republic of the Union of Myanmar, H.E. Myint Swe said “The government has been implementing for private sector development since 2016 by organizing 5 working committee to be effectively implemented for development tasks. The committee is carrying out for Public-Private Dialogue with the ministries and entrepreneurs to be implemented for the private sector development. The committee is also making effort for promoting of the Ease of Doing Business Ranking.”
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  Myanmar Government will invite an international tender for power delivery to the country via floating power plant to generate more electricity supply in Yangon by summer 2020

  Myanmar will hold an international tender for gas to be delivered to the country via floating power plant to generate the electricity required to meet rising demand in Yangon by summer 2020, a senior official from the Ministry of Energy and Electricity (MOEE) told The Myanmar Times. “We will invite an international tender. We will select those who can offer the cheapest price. This is a short-term emergency plan to generate more electricity supply as quickly as possible,” he said. The MOEE plans to buy gas from the international market, which will be generated on the floating unit and channeled via pipeline to the transmission lines, he said. Distribution will be based at the jetties nearest to existing power generation infrastructure, he said. There are currently eight locations in Myanmar with the required infrastructure allowing such ships to dock and supply electricity. The transmission lines, substations and pipelines are located in Kyaukphyu in Rakhine, Pathein in Ayeyarwady, Thilawa in Yangon and Mawlamyine in Mon State.
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  Bilateral trade between Myanmar and Thailand reached the best situation of optimal trade level (Mr. Pakainay Leng-Ee, Minister Counsellor for Commercial Affairs to Myanmar)

  Khun Pakainay Leng-Ee, who was Thailand’s Minister Counsellor for Commercial Affairs to Myanmar from October 4, 2015 to May 15, 2019, reckons the two neighbouring countries have reached an optimal level of trade. “I think we’ve reached the best situation now,” he said. Among the main goods exported to Thailand are car parts and components, which are used to assemble vehicles at Thai car factories and later exported. Myanmar also exports natural gas, meat, natural resources, aquaculture products, vegetables, timber and other wood products to its neighbour. Meanwhile, it imports edible oil, soft drinks, metals, agricultural wars, carpets, car parts, cosmetics, skincare products, wheat, instant foods and plastic products from Thailand. Last year, Myanmar exports to Thailand rose by over 20 percent compared to the year before. During the period, trade volumes between Myanmar and Thailand totaled some 70 billion baht (K3.3 trillion), according to Khun Pakainay Leng-Ee.
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  Maw Taung Trade post will be opened officially at the border city Maung Taung, Tanintharyi Township once the agreement between Myanmar and Thailand has been reached

  Once the agreement between Myanmar and Thailand has been reached, Maw Taung border trade post will be officially opened at the border city Maung Taung, Tanintharyi Township. The new trade post will promote trade between the two countries. The two countries are currently having discussions about the matter at the meetings for the Myanmar-Thailand Border Trade Joint Committee and Myanmar-Thailand Joint Commission as well as a high official meeting. “Maw Taung Border Trade Post is next to Prachuap Khiri Khan Province. The border trade post was opened in May 2013 as a temporary check point, and currently operates with 28 staff members,” said U Aung Htoo, Deputy Minister of the Ministry of Commerce. Through the temporary check point at the Maw Taung Border Trade Post, the two countries traded $2.5 million in the 2015-2016 Fiscal Year and $13 million from October 2018 to May 3, 2018.
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  Myanmar Rice Federation (MRF) called for the government intervention to regulate rice market with policy and laws to promote the rights and benefits of farmers

  The Myanmar Rice Federation (MRF) called for government intervention, including regulation with policy and laws, subsidies and exploration of markets, in a bid to promote the rights and benefits of farmers, according to a recent press release from MRF. To tackle problems being faced by farmers by the recent price drop and difficulties, MRF members have been traveling to farms to purchase summer paddy. However, they are limited by storage capacities to dry the rice, as well as by logistics problems, coupled with power cuts. As exports through border gates are plummeting, the private sector’s sole efforts cannot deal with this. Government intervention is needed, and MRF has already forwarded requests to the government. Last month, Myanmar Rice Federation (MRF) declared it would purchase long-grain rice with 90-day yields which have no demand in the market at the set price of K19,500 per bag starting from 8 April.
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  The new power plant capable of producing 145 Megawatts (MW) of power opened in Belin Kyaukse Township in Mandalay

  A power plant capable of producing 145 Megawatts of power opened in Belin, Kyuakse Township in Mandalay on May 17. The power plant will use 30 million cubic feet per day of domestically produced natural gas from the Shwe offshore gas field. The plant opens a year after Power Kyaukse Company won the tender for the project under a build, operate and transfer arrangement in May 2018, said U Win Khaing, Union Minister of Electricity and Energy (MOEE). Around 90 percent of the electricity produced by the plant will be distributed to the Mandalay region through the Mandalay industrial zone substation and Aung Pin Lae power substation. The region is the second biggest consumer of electricity in Myanmar.
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  Myanmar Garment Manufacturers Association (MGMA) partners with Japan External Trade Organization (JETRO) to provide technical assistance to boost human resources in garment sector

  Myanmar Garment Manufacturers Association (MGMA) has partnered with JETRO (Yangon) and has kept opening MGHRDC in a bid to boost human resources in garment sector and provide technical assistance, according to the MGMA. “The MGHRDC was established on March 25 in 2009 as a future task,” said a responsible person of the MGHRDC. The MGHRDC was jointly established by the MGMA and the JETRO and trainings on industrial engineering were conducted at garment factories through mobile system in 2009 and 2010. With the assistance of Myanmar Investment Commission and the Ministry of Industries, the center could be open. The center provides the courses such as motor sewing, supervisor level IE, top management, sewing machine adjusting and turning technique, attachment, production management, basic garment inspection, high-class garment inspection, special sewing, needle and thread, seminar on garment and clothing quality promotion.
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  One of the logistics services provider in Myanmar, Ever Flow River Group Public Company (EFR Group) listed on the Yangon Stock Exchange (YSX) this year

  Ever Flow River Group Public Company (EFR Group), which provides logistics services in Myanmar, is gunning for an initial public offering (IPO) on the Yangon Stock Exchange (YSX) this year, its chair, U Kyaw Lwin Oo, told The Myanmar Times. If successful, it will become the sixth company to list on the bourse since its launch in 2016. EFR Group is listing to gain better access to funds it will need to develop its logistics assets and to strengthen its reputation and corporate governance standards over the longer term, U Kyaw Lwin Oo said. “There should also be a logistics company listed on the YSX,” he added. EFR Group is one of the largest logistic companies in the country and was established in 1996. The company provides services to five industries: trading, agriculture, manufacturing, hotels and tourism. It comprises seven subsidiaries, one affiliate and two project companies and employs over 600 employees, according to the company.
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  Central Bank of Myanmar (CBM) will allow foreign bank subsidiaries to provide retail services

  The Central Bank of Myanmar (CBM) will allow foreign banks to open branches in the country to help local businesses gain access to financing, deputy governor U Soe Thein said during a press conference on May 17. This includes subsidiaries of foreign banks. “We will allow more foreign bank branches to open up to a suitable extent. Foreign bank subsidiaries will also be allowed in accordance with the law,” he said. The development comes after the CBM in recent months permitted the 13 foreign banks currently operating in Myanmar to open new branches and later removed restrictions prohibiting them from lending to local businesses.
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  Onshore oil fields distributed over 23million cubic feet of gas daily for use in CNG passenger buses

  The onshore oil fields distribute over 23 million cubic feet of gas daily for use in CNG passenger buses, said Tin Maung Oo, permanent secretary of the Ministry of Electricity and Energy. The information was disclosed during a press conference on the clarification of the ministry's activities in the third year of the government's term held in Nay Pyi Taw on May 9. He said 28,299 motor vehicles across Myanmar had been converted into CNG ones. The ministry sells gas around the clock by opening 46 CNG stations—41 in Yangon Region, two in Mandalay Region, two in Yaynangyaung Township and one in Chauk Township. Now, new Kwang Shin-brand machinery from Korea has been installed at the CNG station in Paleik town of Mandalay Region.