ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Myanmar authorities will host International Textile Garment Export in Yangon during 6 to 9 December 2018

  An international textile and garment expo hosted by Myanmar will take place in Myanmar's largest city Yangon from Dec. 6-9, according to the event organizer Monday. More than a dozen countries are expected to join the 7th Myanmar International Textile and Garment Industry Exhibition, jointly organized by the Myanmar Garment Manufacturers' Association and the Myanmar Textile Manufacturers' Association. The four-day expo at the Yangon Convention Center will showcase over 130 top brands from China, Germany, China's Hong Kong Special Administrative Region, Japan, India, Malaysia, Myanmar, Singapore, among others.
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  Union Minister for New Investment and Foreign Economic Relations Ministry should emphasize substance and not spin

  U Thaung Tun’s new ministry should be an effective voice of business in government, challenging line ministries on red tape while ensuring all business-related laws are properly consulted on. WITH liberalisation stalled, investor interest falling, and criticisms from the private sector increasingly vocal, the National League for Democracy-led (NLD-led) government has gone on the charm offensive to reboot its economic agenda. The formation of the Ministry for Investment and Foreign Economic Relations, taking over two existing departments - the Directorate of Investment and Company Administration (DICA) and Foreign Economic Relations Department - and headed by career diplomat U Thaung Tun, is the latest endeavour. For such measures to succeed or, in the least, not to backfire, Nay Pyi Taw should ensure this is about substance and not spin. The ministerial appointment is already a missed opportunity to bring the younger generation on board for the cabinet and inject new life into the political leadership.
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  Local entrepreneurs have been invited to invest in copper and chromium mining along the valley in eastern part of Chin State (Dr. Min Zaw Oo, Director of Chin State Directorate of Investment and Company Administration)

  Local entrepreneurs have mainly been invited to invest in mining along the valley in eastern part of Chin State adjacent to Sagaing and Magway regions as the area has potential for copper and chromium deposits, said Dr Min Zaw Oo, director of Chin State Directorate of Investment and Company Administration. "Along the stretches of the eastern Chin State valley there are good prospects for exploring minerals, especially chromite and copper. They can apply for mining businesses. They can work on a manageable, small or medium scale. It will be smoother for small or medium scale businesses as even the state authorities can pass approval. Local miners are mostly invited. For foreign investors, the government needs to consider a little," said Dr Min Zaw Oo. As the private sector in Chin State tries to develop, local people are found to be establishing companies owned by individuals or groups.
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  PTT Exploration and Production Public Company Limited (PTTEP) recorded net profit of USD $ 315 million in third quarter of this year which is up more than 100 % compared to the same period of last year

  PTT Exploration and Production Public Company Limited (PTTEP) reported net profit in the third quarter of this year at $315 million, increasing by more than 100% compared to the same period last year. The increase is attributed to rising Average Selling Price (ASP) aligning with the rally of global oil prices as well as increase of sales volume mainly from the additional stakes from the Bongkot field acquisition. The company endeavors to accelerate the development of Pre-FID projects, capture mergers and acquisitions (M&A) opportunity and invest in new businesses to foster long-term and sustainable growth. In the third quarter of this year, PTTEP recorded recurring net income of $292, driven by the average selling price of $47.67 per barrel of oil equivalent (per BOE) comparing with $38.78 per BOE in the same period last year (Q3/2017), coupled with increasing average sales volume of 304, 940 barrels of oil equivalent per day (BOED), up from 298,139 BOED of the same period last year. Meanwhile, PTTEP also recognized profits from non-recurring items at $23 million. As the result, the company’s net profit was posted at $315 million. comparing to net loss of $264 million in the same period last year.
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  Myeik authorities are planning to build one stop service pier in Myeik to check marine products directly on fishing vessels

  The Myeik authorities is planning to build a one-stop service pier in Myeik to check marine products, such as fish and prawns, meant for exports. As part of the service, teams are expected to inspect the products directly on fishing vessels. A meeting to discuss the matter was held on 25 November. “It would be more efficient to inspect marine products meant for exports at the pier. The pier is essential to the region,” said Tanintharyi Region Government Planning and Finance Minister U Phyo Win Tun at the meeting. Myeik district’s Fisheries Department Head, U Than Lwin, discussed the possible difficulties that may arise when inspection teams conduct checks on board the fishing vessels as part of the one-stop services. The region’s Port Officer U Myat Soe Win presented the situations on use of both government and private piers.
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  Government authorities are planning to replace Italian- Thai Development (ITD) as uncertainty over Dawei mounts

  Lack of clarity in the contract signed between Italian-Thai Development (ITD) and the Myanmar government to develop the highly controversial Dawei Special Economic Zone (SEZ) in Tanintharyi Region needs to be addressed, an SEZ official cautioned as the government is mulling plans to change the developer. Myanmar SEZ Central Working Body Secretary U Aung Soe said there could be financial repercussions for Myanmar if the contract is dissolved before the ambiguities are straightened out, adding that under the current contract, only if ITD opts out of the project can another company join in. Deputy commerce ministry U Aung Htoo told reporters last week that the government is planning to transfer the project to another company, as it feels ITD has been unable to deliver on what it promised with regards to the SEZ.
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  Yangon City project reached the final stage in negotiations with the China Communications Construction Company (CCCC) (Serge Pun, Vice Chair and Executive of NYDC)

  The government body in charge of developing an ambitious new Yangon city project has reached the final stage in negotiations with China Communications Construction Company (CCCC) in preparing pre-project documents (PPD). Launched by the regional government in March via a 100pc government-owned New Yangon Development Co (NYDC), the new city project covers an area twice the size of Singapore with a target of US$1.5 billion (K2.83 trillion) investment for the first phase Serge Pun, vice chair and chief executive of NYDC, announced on the website that the proposal is close to be finalised and he “hopes the details of the PPD can be disclosed soon to the public and for PPD to be quickly completed for NYDC Challenge to begin.” The "Challenge" refers to a challenge mechanism: Once the proposal is finalised, NYDC will disclose the documents to the public and call a tender. If a company is able to challenge CCCC with a lower bid to build the infrastructure, it will be selected instead but will need to pay CCCC for the costs incurred.
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  No power projects have been implemented in Chin State despite investors' interest

  Although companies have shown a keen interest in power projects in Chin State, no project has been implemented yet, said Dr. Min Zaw Oo, the director of the Chin State’s Office of the Directorate of Investment and Company Administration. “The Chin State government is prioritizing hydropower investments. But the projects have many phases, processes, and business risks which are hindering project implementation for now,” said Dr. Min Zaw Oo. In the two years of the present term of the Chin State government, the hydropower generation sector has been ranked first by investors planning to invest in the state. At least 7 companies from China, Japan, and Norway have expressed their interest to conduct feasibility studies for power projects in the state, according to a research report on the opportunities and challenges for local business development in the state.
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  UK’s Department for International Development (DFID), via its DaNa Facility, published the report on Myanmar’s inclusive businesses to reduce poverty early this month

  On the heels of the release of a UK-backed report on inclusive businesses, a senior government official says that such businesses are “triple wins” for the poor, tthe business sector and for the government. With the support of Myanmar’s Directorate of Investment and Company Administration (DICA) and the Directorate of Industrial Supervision and Inspection (DISI), the UK’s Department for International Development (DFID), via its DaNa Facility, published the report about Myanmar’s inclusive businesses earlier this month. The Inclusive Business in Myanmar report provides an opportunity for businesses, investors, NGOs and the government to learn about the potential impact inclusive businesses have on the country and starts to map a way forward to a more inclusive and sustainable private-sector environment across Myanmar.
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  The Central Bank of Myanmar urged the companies to raise corporate governance standards which can benefit from its decision allowing them to borrow from foreign banks

  Myanmar’s Central Bank says companies will have to raise corporate governance standards before they can benefit from its decision allowing them to borrow from foreign banks. THE CENTRAL BANK of Myanmar has urged companies to raise their corporate governance standards so they can benefit from a recent rule change that enables them to borrow from foreign banks. The rule change announced in a statement by CBM deputy governor U Soe Thein on November 8 is aimed at giving local companies greater access to finance. It said foreign banks could “provide any financing and other banking services to local business entities, in the same manner as local banks”.