ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

• 

  Gold export and import One Stop Service Centre (OSSC) was opened at Culture Valley in Yangon to integrate Myanmar into the world gold market through gold trading

  Gold export and import One Stop Service Center (OSSC) is opened on Monday at Culture Valley in Yangon in the presence of Yangon Region Chief Minister. The One Stop Service Center aims to enable Myanmar to integrate into the world gold market through exporting and importing of gold, to increase foreign direct investment in the gold, gem and jewelry industry as well as to increase incomes of the nations through its communities and industries. Chairman, Myanmar Gold Entrepreneur Association, Kyaw Win said “The main objective of opening one stop service center (OSSC) is to create a gold market both locally and globally legally by setting the import and export center for gold, gems and jewelry. So, the center will provide all the services for exporting and importing processes also for gold related value added products. Exporters and importers can get the services here in one day.”
• 

  Despite the rising foreign exchange rate, five sectors have potential to outperform the rest of the economy in 2018- 2019: banking, oil and gas, retail, education, and garments

  Myanmar’s economy has taken a beating in recent quarters, with a rising number of companies reporting tougher business conditions and a slowdown in market demand. One of the main reasons is the rising foreign exchange rate. Despite a slew of measures taken by the Central Bank, which included pumping millions of dollars from its reserves into the economy and a removal of the +/- 0.8pc exchange rate trading brand in August, the dollar has risen by around 10 percent against the Myanmar kyat since May. That has affected businesses and households across the country, a major importer of goods like petrol, food, cosmetics, electronics and building materials. According to a recent survey by the Union of Myanmar Federation Chamber of Commerce and Industry (UMFCCI), the key challenge for the economy in the second quarter was mainly volatile exchange rates.
• 

  The National Planning Law expects the highest growth rate in Myanmar’s telecommunications, industrial and financial sectors

  YANGON—Amid a slowing economy and complaints from the business community, Myanmar’s parliament has approved a National Planning Law for the 2018-2019 fiscal year which expects to see the highest growth rate in the country’s telecommunications, industrial and financial sectors. On Wednesday, President U Win Myint signed the bill with the approval of the Union Parliament and it is to be effective from October 1 this year to September 30, 2019. According to the National Planning Law, the government expects to increase the growth of GDP from 6.8 percent to 7.6 percent, while the telecommunications sector is projected to grow by 15 percent, the industrial sector by 11.2 percent and the financial sector by 9 percent in the coming fiscal year. The law states that the government will make efforts to improve the trade sector by 7.7 percent, the mineral sector by 7.5 percent and the social management sector by 7.3 percent.
• 

  Shwe YeHtun-2, an appraisal well in offshore block A-6 was tested to produce natural gas, and has 100 percent success with five gas discoveries achieved in five wells

  Appraisal well Shwe Yee Htun-2 has been successfully drilled with formation evaluation results indicating a gas column and net pay thickness that substantially exceeds prior expectations, according to MRPL E&P. The domestic oil and gas firm said this equates to a track record amounting to 100-percent success with five gas discoveries achieved in five wells drilled in Myanmar offshore Block A-6. The Shwe Yee Htun-2, an appraisal well in offshore block A-6, was tested to be able to produce natural gas, according to an official announcement from the Ministry of Electricity and Energy on September 22. The well located at about 102 kilometres northwest of Pathein, Ayeyarwady Region, was spudded-in on July 20, 2018 by Dhriubhai Deep Water KG2 (DDKG2) rig.
• 

  Manufacturing sector attracts foreign direct investment of USD $ 496 million from 47 foreign projects in past five months

  The manufacturing sector attracts foreign direct investments of US$496.6 million through 47 projects from April to August, according to statistics provided by the Directorate of Investment and Company Administration. In the past five months, FDIs worth $1.3 billion, including expansion of investments, were brought into the country. MIC has allowed 65 enterprises to invest in the country. The agriculture sector attracted two foreign investment with a capital of $10.6 million while two projects worth $18.38 million enters livestock and fisheries sector. The real estate sector also received investments worth $195.5 million from three projects. Similarly, the hotels and tourism sector attained FDI of $9.53 million from two project. Over $267.9 million FDIs were pumped into other service sector.
• 

  Exclusive interview with Dr. Wanchai Sirisereewan, Director of Central General Hospital Group, Bangkok on the medical tourism project in Myanmar

  As interest for regional economic collaboration continues to grow in all sectors, healthcare is continuing to improve in many Southeast Asian countries. As a result, the region is quickly gaining interest from the global community. This is partially due private sectors who have worked hard to promote medical tourism and travel. One example is the “Joint Replacement and Hand Surgery Seminar” at Melia Hotel. It was organized by CGH Hospital, which was held on September 2 and attended by over 100 people as well as Myanmar doctors. We wanted to know more about CGH Hospital, the event, and how it can help Myanmar people. Myanmar Business Today had the privilege to interview Dr. Wanchai Sirisereewan, director of CGH Hospital, Bangkok, Thailand — the following is what we learned.
• 

  HealthyOrg, a health consultant services with a digital platform won the Kasikorn Bank’s 2018 Biz Plan challenge

  KBank Group, in collaboration with the Central Department of Small and Medium Enterprises Development, hosted the KBank Plan Challenge 2018, with the aim of promoting SMEs in Myanmar. HealthyOrg, a health consultant service with a digital platform, won the competition. KASIKORNBANK (KBank) is a Thailand based financial institution with extensive experience working with Small & Medium Size Enterprise (SME). Myanmar Business Today was able to sit down with representatives from KBank to talk about the event. Mr. Pattanapong Tansomboon, the First Senior Vice President of KBank explained, “Financial literacy is important in helping a country to move forward. It’s what helped Thailand get going. Our program will help show the importance of financial literacy here in Myanmar.” This event is the culmination of three years of work to shepherd the teams. It was done through three sessions. The first session was launching the idea. It involved talking to the media, and partners to seek potential candidates.
• 

  London based Environmental Investigation Agency (EIA) warned that a timber trade deal in Kayah State undermines the government’s forestry reform and urged authorities to revoke the agreement

  A UK-based non-profit has warned that a timber trade deal in Kayah State represents “a significant step backwards” for the government’s commitment to forestry reform and urged the authorities to revoke the agreement. Local media in Kayah State recently reported on an unclear agreement to allow the trade of 5,000 tons of valuable hardwoods, including 3,000 tons of teak, from logging operations in the conflict-torn state. London-based Environmental Investigation Agency (EIA) yesterday said that if the deal proceeds it will further undermine Nay Pyi Taw’s stated policy of improving forest governance after decades of mismanagement which resulted in Myanmar suffering from one of the highest rates of forest loss in the world. According to the news reports, the timber will be extracted from areas controlled by the Karenni National People’s Liberation Front (KNPLF), an ethnic-armed organisation which signed a ceasefire with Myanmar’s military government in 1989 and was subsequently converted into a pro-government border guard force in 2009.
• 

  With the support of International Finance Corporation (IFC), Yangon Regional Government will start the implementation of an elevated expressway project in 2019 to reduce traffic jams and create more job opportunities

  YANGON- With the aim to reduce the traffic jams and to create more job opportunities, Yangon Government Committee discussed about implementation of Elevated Expressway Project with International Finance Corporation (IFC). The project is expected to start next year, according to Union Minister of State Counsellor’s Office Kyaw Tint Swe. Yangon Elevated Expressway is expected to provide easy access to Yangon downtown, Yangon International Airport, Yangon Port, Thilawa Special Economic Zone, Mindalardon Industrial Zone and Yangon-Mandalay highways. In order for the goals to be met, the Ministry of Construction has prepared a Request For Qualification (RFQ) and Preliminary Information Memorandum (PIM). “As implementation of the elevated expressway project, we can solve the issue of traffic jams and also will be creating many employment opportunities at the same time,” said Kyaw Tint Swe.
• 

  UMFCCI and Viet-Nam ASEAN Economic Development Corporation Association jointly organized the Vietnam- Myanmar trade & investment promotion event at UMFCCI office last week

  Viet Nam and Myanmar counterparts discussed trade and investment promotion, and opportunities and challenges between the two countries, at an event held yesterday at the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) office. This event was jointly organized by the UMFCCI and Viet Nam–ASEAN Economic Development Cooperation Association, with 50 Vietnamese businesspersons in attendance. Most of them are engaged primarily in construction equipment manufacturing, real estate service, teaching aids production, health care service, traditional medicine, heavy construction, finance, painting and coating, urban electric supply, purified water production, edible bird nest industry, agriculture and agro-based food production, vegetable production and rubber production. At the event, officials from UMFCCI explained investment opportunities in Myanmar, under Myanmar Investment Law and Myanmar Special Economic Zone Law, prioritized export/import items and foreign investment sectors in Myanmar. Investors can make investments in agriculture, aquaculture and fisheries, urbanization, tourism and hospitality, electric power, manufacturing, infrastructure development, extractive industries (minerals, oil and gas) and forestry-based industries.