ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Government will hold the tender for construction of an airport in Muse this year

  Plans are being drawn out for the construction of an airport in Muse, which is a major hub for trade at the Myanmar-China border. A tender will be held this year, said U Ye Htut Aung, deputy director general of the Department of Civil Aviation (DCA). “We have presented this project to the minister’s office. We will announce the tender as soon as we receive permission. It is expected to happen this year. We are proposing to build it as a domestic airport,” said U Ye Htut Aung. The new Muse airport will be constructed under a Public-Private Partnership. The size and capacity of the airport have yet to be confirmed and will depend on the size of land available, the DCA said. Six private companies have already been selected to participate in the tender after an invitation to submit Expressions of Interest (EOI) was called in 2017.
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  National Export Strategy (NES) 2020- 2025 will focus on developing its export volume and digital economy

  The Ministry of Commerce said that it will focus on developing its export sectors and digital economy in its National Export Strategy (NES) 2020-2025. “The Myanmar Trade and Investment Plan will support sustainable development of exports in the next five years. Both the union government and regional/state governments need to make sure to improve trade and investments for development of export and a digital economy by getting recommendations from the Stakeholder’s Symposium,” said Dr. Than Myint, Union Minister of the Ministry of Commerce. The National Export Strategy (NES) 2015-2019 was adopted by the Ministry of Commerce with the help of DFID’s funding and ITC’s technical assistance.
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  Yangon Regional Government is striving to re-draft laws for businesses in Myanmar to improve the nation’s economy through Yangon’s development

  “The government is trying to re-draft laws for businesses in Myanmar so that it will attract foreign investors. The Foreign Investment Law is one of those.” The Yangon Regional Government is putting up their best efforts to improve the nation’s economy through Yangon’s development. Global New Light of Myanmar met with the Regional Chief Minister U Phyo Min Thein to discuss the regional accomplishments in the 3rd year of the current administration. Q: What are challenges facing the Yangon Regional Government ? A: There are challenges to every new administration. We are facing quite a lot of floods here in Yangon from the overflow of trenches and ditches. This was our first priority and we have managed to clear out quite a few of the waterway blockage. Another problem is trash in alleyways. We are aiming for trash-free public places. Right now, we are clearing up the mountains of trash that has accumulated over the past decade. The problem can’t be solved just by clearing the existing trash – we have to change our attitudes towards throwing away trash irresponsibly in non-designated areas.
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  Ministry of Commerce and Government of Yunnan Province signed a memorandum of understanding (MOU) on rice and other crops exports from Myanmar to China

  The Ministry of Commerce (MOC) and government of Yunnan Province, China, signed a memorandum of understanding on the export of Myanmar rice and other crops to China on April 21. Under the agreement, Myanmar will be able to legally export crops such as rice as well as fisheries to China via the Muse border trade gate. The MoU, which is a part of barter system, will see Myanmar importing construction materials and farming machinery manufactured in Yunnan Province in exchange for an equal amount in value of Myanmar-produced agricultural products. The Agriculture, Livestock and Fishery Development Committee under the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) will take charge of this agreement, which will take effect in May. Exporting rice to China will be the government’s top priority.
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  UMFCCI signed a Memorandum of Understand (MOU) with Argentina and Indonesia based Mercosur - ASEAN Chamber of Commerce (MACC) for economic corporation to boost trade and investments

  Argentina and Indonesia based Mercosur-ASEAN Chamber of Commerce (MACC) and Yangon based Union of Myanmar Federation of Chamber of Commerce and Industry (UMFCCI) signed a Memorandum of Understand (MoU) for economic cooperation, the aim of the MoU is to boost trade and investments. Mercosur established the South American trade bloc, with member countries such as Argentina, Brazil, Paraguay, and Uruguay, they are planning to increase collaboration with ASEAN countries for increased trade, investment and tourism.
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  Central Bank of Myanmar (CBM) is applying the monetary policy instruments in order to achieve the targeted reserve money amount

  Central Bank of Myanmar (CBM) is applying the monetary policy instruments in order to achieve the targeted reserve money amount
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  Myanmar earned over K 13 billion from three time sales of Myanmar pearls locally and internationally

  Myanmar has earned over K13 billion from pearl sales three times at home and abroad, according to the Ministry of Natural Resources and Environmental Conservation. The ministry's made a press briefing on a one-year period of its activities which were featured by State-run newspapers. Myanmar's peal sales were held three times locally and internationally and the sale amount exceeded by nearly K2 billion than expected. The ministry allowed local and foreign travellers to visit and study State-owned pearl culture camp and five other private pearl culture camps starting from October 2018.
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  Japanese leasing company Tokyo Century Corporation will buy 20 percent of stake in Yoma Group’s auto leasing unit for USD $ 26.6 million via new shares

  Yoma Strategic Holdings (YSH) said on Monday that Japanese leasing company Tokyo Century Corporation will acquire a 20 per cent stake in its subsidiary Yoma Fleet for S$26.6 million by way of newly issued shares, Business Times reported. Upon satisfaction of certain conditions to complete the subscription of new shares by Tokyo Century, Yoma Strategic will become an 80 per cent shareholder in Yoma Fleet.
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  Ministry of Commerce (MOC) is drafting the new trade laws to protect local producers while promoting exports of domestically produced goods

  The Ministry of Commerce (MOC) is drafting new trade laws to safeguard local producers while promoting exports of domestically-produced goods, Minister of Commerce U Than Myint said. Due to the lack of investments and technology, Myanmar producers face stiff competition from their regional peers, who are able to manufacture at faster speeds and lower costs and produce higher quality goods. As such, the legislation, drafted in collaboration with the World Bank and German development agency GIZ, will include a new Safeguard Law on Increased Import and Antidumping and Countervailing Law. The laws aim to safeguard domestic manufacturers from cheap imports and support demand for locally-made products. At the same time, the government is also raising efforts to promote economic growth through exports by adding new priority sectors to its National Export Strategy (NES).
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  Yangon Regional Government will invite foreign investors to invest in low cost housing projects for over 15 years in Yangon Region

  Yangon regional government will invite foreign investors, who will invest for more than 15 years in low-cost housing project in Yangon Region, said U Phyo Min Thein, the Chief Minister of Yangon Region. With an aim to solve the living difficulties of the local people in Yangon Region, the low-cost housing projects are being implemented in Yangon. The authorities are also planning to sell the low-cost housing apartment buildings in installment system, for which the banks will cooperate with the government. “If the investors make investment in building the low-cost apartment buildings, we will try our utmost to sell the flats at an affordable price. The price can be low because the government will not charge any rent for the plots of land. However, we need to attract the investors who will invest for a long term. Provided that they do not make long- term investment in the housing projects of the regional government, the needy purchasers will be required to pay in a short-term installment, which will make those earning not much difficult to buy the flats. Therefore, we would like to invite the investors who can invest for above 15 years,” said U Phyo Min Thein, the Chief Minister of Yangon Region at the license handing over ceremony held on 6 April at Pan Pacific Hotel.