ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Myanmar fisheries sector is not developing due to the lack of government and domestic banks’ financial assistance

  Investments in Myanmar’s fisheries sector are almost all from the private sector and it is time to consider more help from the government for the sake of improving domestic food security and generating more revenue from exports says U Win Kyaing, general secretary of the Myanmar Fisheries Federation. The lack of financing is one of the main things holding back the sector’s modernisation U Win Kyaing added. “Financial assistance can come not only from the government and domestic banks, but also foreign institutions. This should be considered by government sector,” he said. Myanmar is still very much an agriculture-based country, with 7.28 million hectares under cultivation, equal to the amount of virgin land. Almost 70 percent of the country’s population lives in rural areas and are involved in agriculture.
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  State Counsellor, Daw Aung San Suu Kyi called for more Japanese investment in Myanmar during her official visit to Japan

  State Counsellor Daw Aung San Suu Kyi, who is on a working visit in Tokyo, Japan, attended the Myanmar Silk Promotion Event facilitated by the ASEAN-Japan Centre and the Myanmar Investment Conference discussing under the topic ‘Strengthening the Bond Between Myanmar and Japan’, both held yesterday. The State Counsellor and her entourage made their way to the ASEAN-Japan Center at 1pm local standard time and were welcomed by Mr. Ichiro Aisawa, Chairman of the Japan-Myanmar Parliamentary Friendship Association, Mr. Hiroto Izumi, Special Advisor to the Japanese Prime Minister, Mr. Hideo Watanabe, Chairman of Japan-Myanmar Friendship Association, Mr. Keiji Fuji, Chairman of Daimatsu, and Mr. Masataka Fujita, Secretary-General of the ASEAN-Japan Centre. The State Counsellor and Union Ministers U Thaung Tun and U Kyaw Tin, and their welcoming party then cut the ceremonial ribbon to open the Myanmar Silk Promotion Event. They toured the displays of clothing sewn with Myanmar silk while officials gave explanations. The State Counsellor then received souvenirs from the ASEAN-Japan Center officials and took a documentary photo.
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  Myanmar Pharmaceutical Industrial Enterprise (MPIE) and NSKRE Residence (Myanmar) signed an agreement to build 12 storey high-rise structure in Tamway

  Myanma Pharmaceutical Industrial Enterprise-MPIE of the Ministry of Industry and NSKRE Residence (Myanmar) Co Ltd signed an agreement yesterday to build a high-rise structure on the land owned by MPIE in Tamway. The building will be constructed with the build-operate-transfer (BOT) system and it is set to include 230 apartments, fitness centre, minimart, restaurant, business offices, car parking. The land lease agreement was signed by U Ko Ko Aung, Managing Director of MPIE and Mr. Hirosato Fukimbara, Managing Director of NSKRE Residence (Myanmar) Co Ltd, in the presence of Union Minister for Industry U Khin Maung Cho.
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  Global oil prices are putting pressure on Myanmar’s economy and the US Federal Reserve bank has raised interest rates three times so far this year

  Higher US interest rates and global oil prices are putting pressure on Myanmar’s economy. The US Federal Reserve Bank has raised interest rates three times so far this year. The latest increase of a quarter percentage point in the benchmark federal funds rate, lifting it to a range of 2 to 2.25 percent, came in September. Emerging markets are expected to be hardest hit from capital outflows as investors who had been looking overseas for higher returns pull their money back to the US. Myanmar will be among many countries in the world that feel the effects of a strong dollar, said U Than Lwin, KBZ Bank adviser and former deputy governor at the Central Bank of Myanmar (CBM). “The US is expected to raise its interest rates at least one more time this year so it’s sure that this will hurt domestic exchange rates to some extent. There is also a concern about whether action will be taken against unlicensed forex dealers as unregulated trading could destabilise the exchange rate,” U Than Lwin explained.
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  The 20th regular meeting between the Private Sector Development Committee and Myanmar Entrepreneurs was held at UMFCCI Office in Yangon to promote private sector business

  Vice President U Myint Swe, Chairman of the Private Sector Development Committee, and business persons held the 20th regular meeting in Yangon yesterday to promote the private sector. The 20th regular meeting between the Private Sector Development Committee and Myanmar entrepreneurs was held at the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) office in Yangon. The Private Sector Development Committee was formed in 24 October 2016 to effectively carry out the tasks of the private sector development framework. Speaking at the meeting, Vice President U Myint Swe reiterated the government’s commitment to helping the entrepreneurs overcome their challenges as part of efforts for developing the country’s economy. The regular meetings have been held since 2016 December where sector and group wise difficulties were being resolved. As of the 19th meetings 283 suggestions and difficulties faced were submitted to the government and responses were sent to the relevant businesses through UMFCCI.
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  Due to the growing international backlash over the Rohingya crisis, Myanmar might lose European Union (EU) trade privileges over its “blatant violation of human rights”

  The European Union warned Myanmar on Friday it could lose trade privileges over its "blatant violation of human rights", as the international backlash over the Rohingya crisis grows. EU Trade Commissioner Cecilia Malmstrom said a fact-finding mission would arrive in Myanmar soon to assess whether the highly preferential tariff arrangement Myanmar enjoys, known as "everything but arms" (EBA), should be withdrawn. "We cannot exclude this outcome and of course the reason is the blatant violation of human rights in Myanmar," Malmstrom told reporters at a meeting of EU trade ministers in Innsbruck, Austria. "Our trade policy is values-based. These are not just words. We have to act when there are severe violations."
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  Myanmar Thilawa SEZ Holdings Ltd’s (MTSH) share prices fall in the wake of boardroom row, leading to the resignation of its Chief Operating Officer

  Yangon-listed Thilawa SEZ Holding Ltd’s (MTSH) stock has seen a drop in share price as a row which engulfed its board directors brewed, leading to a resignation of its chief operating officer. U Thein Han, a director of the company’s board, and chair U Win Aung argued openly among other directors at the fifth MTSH annual meeting at Myanmar Event Park on September 29. The day before, the share was at K2,950 dropping to K2,900 on October 2. “Such dispute at the annual general meeting shouldn’t have happened,” said one of the board member who spoke on condition of anonymity. The reason behind the internal dispute came from the chair’s reluctance to answer questions raised by shareholders at the annual meeting.
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  High demand for newly-produced fresh paddy from northern Bago Region has prompted the Myanmar Rice Millers Association (MRMA) to call on the government to effectively combat illegal paddy export

  Newly-produced fresh paddy from northern Bago Region is in high demand, with daily purchase of 30,000 baskets, prompting Myanmar Rice Millers Association (MRMA) to call for effective combating illegal paddy export, said officials from MRMA. “Even a single township can supply thousands of paddy baskets per day. More townships will be joining in the coming harvest season. Millers have to purchase tons of paddy. At that time, some paddies illegally flow out of the country through border trade routes. When that happens all the time, illegal export volume will reach to a peak level, which concerns us”, U Nay Lin Zin, general secretary of MRMA said.
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  Two days workshop to strengthen Small and Medium Enterprises (SMEs) was held in Yangon to discuss how to further integrate Myanmar’s economy regionally and globally

  A workshop to strengthen Small and Medium Enterprises (SMEs) began on Thursday in Yangon. Concerned officials, US Ambassador, local and foreign experts and SMEs entrepreneurs joined the two day workshop “Growth in international markets-A tool kit for SMEs”. US Ambassador, H.E. Scot Marciel said … “it's part of broader efforts by United States to support economic development and growth especially focuses on helping farmers, entrepreneurs, small and medium sizes businesses”. “This workshop is part of the series of programs that we are doing. The main idea is it gives them a chance to hear from other entrepreneurs, some from United states, some from the region and some from Myanmar who've been successful. And to learn from those entrepreneurs, some of the things that help them succeed." Weakness in access to information, market and finance challenge the Small and Medium Enterprises to grow even in the local market, Myanmar Young Entrepreneurs Association said.
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  China agreed to continue the first phase of Kyaukphyu deep seaport project, based on economic gains: the first phase is expected to cost around USD $1.3 billion

  The first phase of Kyaukpyu deep seaport project will be implemented with US$1.3 billion investment and China agreed to continue the project based on economic gains, said Dr Than Myint, Union Minister for Commerce and Chairman of Central Committee of Special Economic Zone. “The investment is US$1.3 billion for the first phase of the project. We initially intended to build two big ports here. One port has six wharfs and another port has four wharfs. The plan now is that we will first build two wharfs with an expected the cost of around US$1.3 billion. Two big ports will cost about US$7.3 billion. We will consider carrying on with the project after the first two wharfs are built. We will use them and see the results. China agreed to it. We will proceed step by step,” said Dr Than Myint. The framework agreement to develop the first phase of the deep seaport will be signed this year. Although Myanmar initially agreed to let 85 per cent of the project owned by China’s CITIC, it was renegotiated during the present government’s era. CITIC has now agreed to take 70 per cent of total share now, he said.