ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

• 

  Myanmar produced its first report of Myanmar Corporate Governance Scorecard 2018 in order to improve Myanmar companies’ business practices more competitive in local and regional markets

  Myanmar companies need to improve their business practices to become more competitive in local and regional markets, a new report shows. The Myanmar Corporate Governance Scorecard 2018 is the first report of its kind in the country and assesses the performance of 24 companies in the country. It is published by the International Finance Corporation (IFC), the Securities and Exchange Commission of Myanmar, the Yangon Stock Exchange and the Directorate of Company Investment and Company Administration (DICA). The report, which assesses companies on the basis of the Association of Southeast Asian Nations (ASEAN) Corporate Governance Scorecard, reveals that Myanmar firms scored an average of 30 percent, compared to the ASEAN average of 69pc. Some Myanmar players are observed to be performing significantly above the average and listed companies are outperforming public and private ones.
• 

  Yangon Regional Government set the deadline for claims of resettlement and land compensation for Yangon sky train route project

  Land for the Yangon Urban Mass Rapid Transit (YUMRT) route will have to be acquired and the Yangon regional government has set the deadline for claims of resettlement and other compensation as May 6, the Yangon City Development Committee (YCDC) announced earlier this week. Any modifications, extensions and new construction done on land demarcated for acquisition after the deadline, will not be entitled to land compensation, resettlement and compassionate grants, the YCDC stated. “Work on the project is being planned in such a way as to minimise the impact to the areas along Parami road. Only a partial area of land will be affected by the project. Land in plots or block won’t be acquired. In Bangkok and Singapore, the tracks for mass-transit routes are nearly in contact with neaby buildings,» said Mayangone MP U Yan Shin.
• 

  Export-Import Bank of Thailand (EXIM) will provide more loans for Thai companies venturing into Myanmar

  The Export-Import Bank of Thailand (Exim Thailand) is gearing up to provide more loans for Thai companies venturing into Myanmar on expectations of a long-awaited economic boom, Thailand’s The Nation reported. The bank would provide more loans to Thai and Myanmar businesses that are considering using a wide range of Thai products in their commercial operations in Myanmar, said Pisit Serewiwattana, the president of the bank.
• 

  Myanmar property market expected to still flat until 2020 though its depend on the policies of the government

  Myanmar’s property market has been lacklustre since 2015 and this situation is expected to continue until next year, said U Myo Myint, general secretary of the Myanmar Construction Entrepreneur Association during an industry discussion in Yangon last week. “This is the current situation. However, what is good is that there will be no worsening in the conditions or a downturn. We cannot say precisely whether the market will climb in 2020 as a lot depends on the policies of the government,” he said. The cost of construction is now high due to the strength of the US dollar, so property prices are not expected to fall from their current levels as the dollar price goes up, U Myo Myint added. Property transactions have decline by 50 percent from their peak five years ago due to low demand. As foreigners are still unable to own land in Myanmar, there has been no pick up in the industry from foreign buying, said Daw Yin Yin Myat, central committee member of the Myanmar Urban and Infrastructure Development Association.
• 

  Micro, Small and Medium Enterprises Development Work Committee (MSMEDWC) was held the committee meeting in Nay Pyi Taw to effectively support on MSME’s manufacturing, services and trade works

  The Micro, Small and Medium Enterprises Development Work Committee (MSMEDWC) Chairman Vice President U Myint Swe addressed the committee’s meeting 1/2019 held at the Ministry of Industry in Nay Pyi Taw yesterday afternoon. In addressing the meeting the Vice President said the day’s meeting was the fourth meeting of MSMEDWC. To effectively support MSME’s manufacturing, services and trade works a 24-member Micro, Small and Medium Enterprises Development Central Committee (MSMEDCC) was formed on 7 June 2016 with 11 duties and responsibilities. In order to effectively implement and conduct its duties and responsibilities MSMEDCC formed MSME Development Work Review, Coordination and Implementation Group, MSME Development Agency and MSME Development Fund Management Group. Furthermore regional agencies were formed in Nay Pyi Taw Council, States and Regions and four self-administered division and zones of Wa, Naga, Danu and PaO while two more in the remaining self-administered zones of Palaung and Kokang would soon be formed.
• 

  Hydropower production in Myanmar was decreased in April as there is no perfect solution to the issue of energy production

  There is no perfect solution to the issue of energy production. Each type of energy source has unique challenges, and therein lies the challenge for Myanmar. Fossil fuels pollute the environment with carbon dioxide, methane, nitrogen and particulates into the atmosphere. Solar panels are inefficient, dependent on sunny weather, and lack sufficient storage capabilities. The batteries they require to store solar energy are also very bad for the environment. Wind turbines are inconsistent, a danger to birds, noisy, and some people consider them to be an eyesore. Hydropower is plagued with land rights use, and even impact wildlife. As we have seen in the last few weeks, hydropower can also have problems with a lack of water. The total power generated in Myanmar from hydropower plants during March was 2,200 megawatts, but this decreased to 1,970 megawatts per day in late April. Dr. Tun Khaing, the Deputy Minister of the Ministry of Electricity and Energy, explained why.
• 

  Enishi Co., Ltd gave an offer to Myanmar Shwe Phyu Company for purchase of Myanmar’s Sterculia versicolor gum to Japan

  Gum of Sterculia versicolor has been used across the world for some 100 years. In early 20th Century, Sterculia versicolor gum was used on a wider scale due to ingredient of it in tragacanth gum. Sterculia versicolor gum contains usable chemical properties more than tragacanth gum. The World Food Organization recognized Sterculia versicolor gum as a supplementary food under E-416 in 1911. Sterculia versicolor plants originally thrive in India, Myanmar and Sri Lanka. Now, Senegal, Pakistan, Sudan, Australia, Panama, the Philippines, Indonesia and Viet Nam also grow Sterculia versicolor plants. Global countries produce some 5,500 tons of Sterculia versicolor gum on a yearly basis, meeting a one-third of the world’s total demand. Among the grower countries, India is top in the yield and export of the gum.
• 

  Ministry of Investment and Foreign Economic Relations pledged to strengthen investment facilitation in related ministries

  The Ministry of Investment and Foreign Economic Relations has pledged to strengthen investment facilitation in related ministries. Speaking at a training workshop in Nay Pyi Taw, U Aung Naing Oo, the ministry’s permanent secretary, stressed the importance of investment facilitation and the role of all investment-facing government agencies in the process. “Investment promotion and facilitation are two sides of the same coin. In particular, without facilitation, there will be no effective investment promotion,” he said. “The Myanmar Sustainable Development Plan highlights the importance of investment in enhancing socio-economic development, reducing poverty and creating employment. Facilitation, involving coordination, harmonisation and synchronisation, is critical to achieve our investment attraction plans and targets.”
• 

  CMP export volume reached more than USD $ 1,300 million in almost seven months which is up more than USD $ 1,200 million when compared to the same period of last year

  CMP export volume reached more than US$ 1,300 million in almost seven months in a row , up more than US$ 1,200 million compared to that of the same period of last year, according to the statistics of the Ministry of Commerce. CMP export volume reached more than US$ 5.248 billion from October 1 to April 26 in 2018-2019 FY, up 1,389.186 million compared to that of the same period of last year. CMP export volume reached more than US$ 3.895 billion the previous year. The figure showed an increase in CMP export in almost seven months.
• 

  Myanmar Tourism Bank was opened its first branch in Yangon in order to support for the development of the tourism sector with low interest and long-term loans

  Myanmar Tourism Bank was opened with an investment of 22 billion Kyats with the permission of the Central Myanmar Bank of Myanmar. Myanmar Tourism Bank holds the full commercial license in 2018 in order to support for the development of the Tourism sector, founded by public tourism industry. It will offer low interest and long-term loans for tourism sector. Director General, Financial Institutions Supervision Dept. (Central Bank of Myanmar), Than Than Swe said “Myanmar Tourism Bank is to support financing for tourism industry promotion and to encourage the use of local currency in cross border tourism sector. Central Bank is supporting every sector to promote the country’s economy. We will monitor the Myanmar Tourism Bank every week and every month. We have plans to give permission to more foreign banks.” Currently, 27 local banks and 13 foreign banks are operating in Myanmar. 26 shareholders from tourism industry invested in Myanmar Tourism Bank as an initial stage. The Myanmar Tourism bank will support the 5% of the annual profit to the ministry and for the tourism industry development, the chairman said.