ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Myanmar owned KMA Hotel Group signed a MOU with one of the Thailand’s largest hotel and resort operator for USD $ 63 million (Ks 96.86 trillion) investment in several new and existing hotels throughout Myanmar

  Myanmar-owned KMA Hotel Group has signed a Memorandum of Understanding (MOU) with one of Thailand’s largest hotel and resort operators, the company has announced, to partner on a US$63 million (96.86 trillion kyat) investment in several new and existing hotels throughout Myanmar. Centara Hotel and Resort, a subsidiary of Thai conglomerate Central Group of Companies, currently operates in several ASEAN markets, including Thailand, Vietnam and Indonesia; the MOU marks the brand’s first project in Myanmar. “Our partnership with KMA Hotels represents a significant milestone for Centara,” Centara CEO Thirayuth Chirathivat said in a prepared statement. “It gives us the opportunity to establish a significant presence for Centara in a country with huge potential for tourism development.”
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  Kayin State Investment Committee granted the permission to Pyi Thu Dana Company to produce and distribute gypsum powder in Kayin State

  Kayin State Investment Committee made a decision to grant permission to a private company to produce and distribute gypsum powder in the state. The decision came at the meeting 4/2019 of the committee at Kayin State government office yesterday. Approval for production and distribution of gypsum powder was granted to Pyi Thu Dana Co., Ltd., a 100 per cent Myanmar national investment. Starting from fiscal year 2016-2017 to date 4 foreign investments valued at US$ 31.54 million and 10 local investments valued at K 36,282.57 million were permitted creating more than 2,000 job opportunities in Kayin State.
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  Yangon Investment Forum 2019 was held in Yangon in order to spur new more investments in Yangon

  Seeking to spur new investment, the Myanmar government touted Yangon’s strategic location, infrastructure development and emerging workforce on Friday, when it showcased more than 80 projects to local and international investors. “Yangon today is a premier investment location,” said Union Minister for Myanmar Investment and Foreign Economic Relations U Thaung Tun, during his opening speech at the Yangon Investment Forum 2019, held at Yangon’s Lotte Hotel. Despite being the smallest among the 14 states and regions of Myanmar, Yangon Region receives more than 50 percent of all foreign investments and represents almost a quarter of Myanmar’s total GDP. The city is also home to every major Myanmar bank and financial institution.
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  Women Entrepreneur Association is planning to set up Women’s Entrepreneurship Development Centre in Yangon with the aim to make women’s lives better and provide the economic information in real time

  A Women’s Entrepreneurship Development Center will be set up to make women’s lives better and provide them economic information in real time, said Daw Khin Lay, the chairperson of Myanmar Women Entrepreneurs’ Association (MWEA). “We will set up a Women’s Entrepreneurship Development Center to improve women’s lives. Sometimes, women want to be engaged in small and medium enterprises. But, they don’t know how to start these businesses. Our association will assist those who want to start such businesses, after consulting the related departmental officials and consultants. Moreover, our association usually provides school fees for children. This year, we will also conduct a training course on the education lifestyle of children. We will also raise awareness among parents with respect to improving their family life,” said Daw Khin Lay. The Myanmar Women Entrepreneurs’ Association was established with the aim of helping women take up entrepreneurship, and develop the capabilities of women who are confined to their homes.
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  Export earnings from garments sector projected to reach up to USD 10 billion in 2024

  Export earnings from the local garment sector is expected to hit up to 10 billion US dollars in 2024, said Khaing Khaing Nwe, Secretary of Myanmar Garment Entrepreneurs Association (MGEA) at the 5th annual meeting of the association at the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI). “In our garment sector, the number of workers has increased fivefold and earnings, 10 fold. Now we are making constant efforts to double the productivity of workers,” she added. The association has more than 500 members and the number of garment workers is over 500,000. The garment industry is a labour-intensive industry as well as is a basic work for a country to transform into an industrialized country. The association could establish training schools and acquire advanced technologies so as to develop the labour-intensive CMP garment which can create jobs most and turn out skilled workers.
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  Myanmar authorities are striving to export around 300,000 tonnes of rubbers this year as rubber production improves in Myanmar

  Myanmar is expecting to export around 300,000 tonnes of rubber this year on the back of rising production at local plantations, U Khaing Myint, secretary of the Myanmar Rubber Planters and Producers Association (MRPPA) said last week. This is more than the government’s estimates of 260,000 tonnes this year, he said. Rubber exports have been rising in recent years. In 2017, Myanmar sold 140,000 tonnes of rubber overseas, which is up by 56 percent over the previous year, according to official data. Of the 1.6 million acres of rubber plantation land, half are currently actively producing rubber, according to the MRPPA. The rubber plantations have over the years been planting new rubber trees while cutting down older trees and those which no longer produce latex. The aim is for Myanmar to eventually become a substantial exporter of rubber at a time when international demand for rubber is rising.
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  In collaboration with Sagaing Region Government and Border Trade Chamber of Commerce & Industry, Tamu organized a meeting for a visiting study team from India

  The Indian Consulate, in collaboration with Sagaing Region Government and Border Trade Chamber of Commerce & Industry, Tamu organised a meeting for a visiting Study Team from India on 9th May, 2019. Consul General of India in Mandalay Mr. Nandan Singh Bhaisora welcomed all the delegates and briefed them on the various steps taken by the Indian Government for implementing Act East Policy of India in Myanmar, including large connectivity projects, bilateral trade, commerce and culture. He mentioned that since connectivity projects are in progress, the time has come to have a vision for a roadmap for the next 5- 10 years down the line for extending the Trilateral Highway to other ASEAN countries including Laos, Cambodia and Vietnam, an economic corridor where movement of goods and people is made easier.
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  Local investors put Ks 893 billion worth of its investments in 89 businesses within seven months of 2018 – 2019 fiscal year

  Local investors put K893 billion worth of investments in 89 businesses and invested more capital in existing investments within seven-month time from October 1 to April 26 in 2018-19 FY, said Thant Zin Lwin, Acting Director General of Directorate of Investment and Companies Administration (DICA). According to the meeting of Myanmar Investment Commission (MIC), the authorities allowed a local investment in industrial sector in Mandalay Region and the investment amount is Ks1.146 billion including US$0.299 billion. It can create 70 job opportunities for local workers. Myanmar is expecting to receive about US$6 billion of foreign investment in 2018-19 FY and at the present, over US$2.5 billion worth of foreign investment within seven-month year time, according to the MIC.
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  Karge has the streamlined logistics for over businesses to simplify the business logistics in Myanmar

  Myanmar continues to be one of Southeast Asia’s fastest and most exciting economies. This creates an exciting environment for business startups of all types. Kargo, a Yangon-based company founded in 2016, is one startup that has flourished in these conditions. Since the company was established by Alexander Wicks, they have streamlined logistics for over 500 businesses in Myanmar. Myanmar Business Today had the opportunity to meet Mr. Wicks, who is currently serving as the CEO of Kargo, and to learn more about his company, motivation, and outlook for the future. Wicks is not new to Southeast Asia and has accrued over ten years of experience in the region, having worked in Singapore, Vietnam and Japan. He has lived in Myanmar for the last six years, working with companies to improve search engine optimization (SEO), web development, and digital marketing. However, we were curious to learn what motivated Wicks to found Kargo, which is focused on logistics. He told us: “My background got me thinking. Because of my tech experience, I looked at Myanmar from a tech prospective; I saw opportunities that could come out of it.”
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  More foreign direct investments (FDI) in Myanmar’s power sector expected to growth in the next five years

  Myanmar’s power sector will spearhead growth in the infrastructure industry and draw the bulk of foreign direct investments (FDI) over the next five years, Fitch Solutions Macro Research said in a report released April 23. With just 40 percent of all households enjoying access to electricity as at September 2017, which is amongst the lowest in Asia, the research firm said. With power cuts still taking place often during the summer months, major impediment to economic development, and the government is aiming for full electrification by 2030. In Myanmar, almost half of all uncompleted projects in the pipeline, valued at US$1 billion, are related to the power sector. This, although aligned with the government’s aim for full electrification by 2030, indicates that the country is likely to fall short of capacity requirements. “Projects in planning or under construction only have a total of 7,319MW of capacity. As such, we expect more power projects to be undertaken in the next decade in order to boost generation capacity. We currently forecast Myanmar’s construction sector to grow at an annual average of 8.9pc in real terms, from 2019 to 2028, largely driven by infrastructure in the power sector,” Fitch Solutions said in its report.