ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  More Chinese investors are interested to invest in Myanmar due to the threat of U.S. tariffs on Chinese goods

  Due to the threat of U.S. tariffs on Chinese goods, Chinese exporters are looking for potential places to make investments, U Aung Kyaw Than, Deputy Director of Directorate of Investment and Company Administration, said at Korea-Myanmar Investment Forum held at Lotte Hotel, Yangon, on June 20. “Some investors are looking for other places to invest — especially in SEZs which already have infrastructure in place,’’ he said. Myanmar is given Generalized System of Preferences (GSP) on exports to the United States. The U.S. GSP program promotes economic growth in the developing world by providing duty-free entry to the U.S. market for goods imported from designated beneficiary developing countries. As a least developed beneficiary country of GSP, Myanmar may export almost 5,000 different products to the United States duty-free. Myanmar became a beneficiary of the GSP program on November 13, 2016.
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  Rice industry is urging parliament to advocate the legislation of a draft new rice law in order to regulate the supply chain

  The country’s leading business group for rice is pushing the parliament to legislate a new law to regulate the sector. The Myanmar Rice Federation (MRF) is advocating the legislation of a draft rice law, U Ye Min Aung, secretary of MRF, said. In March, the MRF organised a stakeholder forum for the rice sector in Nay Pyi Taw, which was attended by State Counsellor Daw Aung San Suu Kyi. The event tackled two areas - the base price for paddy during the harvest period as well as to draft a rice bill. The Federation has drafted the rice bill, which is intended to support the development of the rice sector, and has consulted farmers and agriculture development committees from both houses of parliament this month. They have planned to talk to the Union Attorney General Office’s about the proposed legislation.
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  Myanmar government has granted permission for seven new registered express delivery providers to start their operations in the country

  The government has officially granted permission to a total of seven new registered express delivery providers to carry out operations in the country. The registered service providers will provide postal and parcel express delivery services both domestically and internationally and will be managed by the Ministry of Transportation and Communication, according to a government notification. These include RG Express Services Co, Myanmar Zarla Distribution Co, First Courier Service Co, Hercules Logistics Co and UMG Logistics Co, which will provide delivery services domestically. Meanwhile, RG Express Services, together with Door Asia Cargo Services, will extend their offerings overseas. That private companies are taking an interest in the Myanmar postal service is positive for the sector, said U Thaung Naing Soe, regional manager of Myanmar Post in Yangon Region.
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  Myanmar's major tax reforms set for analysis in the report: Myanmar 2019 by global research and consultancy firm Oxford Business Group (OBG)

  Myanmar’s plans to overhaul its tax regime, as part of broader efforts to boost revenue on the back of slower growth, will be mapped out in a forthcoming report by the global research and consultancy firm Oxford Business Group (OBG). The Report; Myanmar 2019 will shine a spotlight on the 2018 Union Taxation Bill, while also considering what’s next for the government’s tax amnesty proposals, which are now subject to review, following criticism that they could encourage tax evasion and inflows from dangerous groups. Key initiatives also set for analysis include the government’s decision to move away from the current method of tax collection to a self-assessment system. In addition, the publication will look in detail at the broader structural reform programme, which is driving Myanmar’s efforts to attract foreign investment for its pipeline of mega-projects, such as the phased Yangon New City initiative.
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  Myanmar Investment Commission (MIC) will remove unnecessary steps and procedures in order to promote smooth operations of business in the future

  Myanmar Investment Commission (MIC) will remove unnecessary steps that may hinder smooth operations of businesses in the future, said Aung Naing Oo, secretary of Myanmar Investment Commission at a press conference at the Directorate of Investment and Companies Administration’s (DICA) office in Yangon on June 25. “The MIC will relax restrictions and make procedures clearer for investors within legal boundaries,” he added. Thaung Tun, Union Minister for the Office of Union Government becomes the new chairman and Set Aung, Deputy Minister for Planning and Finance, a new member.
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  United Motor Works Siam (UMWS) signed a major forklift deal with Provincial Electric Authority of Thailand (PEA) Bangkok to provide eco-friendly battery operated forklifts

  BANGKOK - United Motor Works Siam (UMWS) handover 115 electric forklifts to Provincial Electric Authority of Thailand (PEA) Bangkok, in a hand-over ceremony on June 25, as part of a major business deal signed between the two organizations. The dialogue between heads of organization strongly indicates about the long-term partnership and cultivates more business in future. The event, held at UMWS headquarters, was attended by government delegation led by His Excellency Vice Governor Mr. Amnuaychai Suwansoontorn, Mitsubishi Logisnext Asia Pacific (Singapore), and Mitsubishi Logisnext Factory (Thailand) along with other senior officials of UMWS. Mr. Atsushi Tomita, Managing Director of UMWS, said "We are very proud of this achievement now that we have excellent opportunity to contribute in this important government sector which has significant role in daily life of people of Thailand. It requires lot of dedication and tireless efforts to keep the daily supply uninterrupted and needs proper planning for the future. I see it is very tough and challenging job" as part of his keynote speech.
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  Yoma Land is focused on expanding beyond high-end luxury properties into the mass market in a bid to promote home ownership and growth in Myanmar

  Cyrus Pun, managing director of newly launched Yoma Land, is expanding beyond high-end, luxury properties into the mass market in a bid to promote home ownership and grow in Myanmar. Yoma Strategic Holdings and First Myanmar Investments Co (FMI) yesterday announced the launch of Yoma Land, which will hold all the real estate assets of both companies from now on. The new business arm will represent a new division under Yoma Strategic and hold Pun Hlaing Estate, StarCity, Yoma Central and The Peninsula Residences Yangon under its umbrella. “We have combined our real estate projects under one brand, which we hope will help customers identify us as a serious real estate developer,” Mr Pun told the media. With the launch of Yoma Land, Mr Pun also revealed that the firm’s aim will now be on promoting home ownership in fast-growing Myanmar by expanding into mass market property.
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  Investment opportunities in Myanmar’s oil and gas sector might emerge on the back of a string of changes and restructuring efforts

  Opportunities to invest in Myanmar oil and gas are emerging on the back of a string of changes and restructuring efforts now taking place in the sector. The Ministry of Electricity and Energy (MOEE) is currently reviewing the terms and conditions of Myanmar’s existing oil and gas Production Sharing Contracts (PSCs) to draw new investments into the sector, said U Kyaw Thura, a Myanma Oil and Gas Enterprise (MOGE) geologist. The MOGE falls under the remit of the MOEE. “Discussions are underway to revise the existing terms and conditions of the PSCs to create a win-win result for the government and investors in oil and gas exploration and production in Myanmar,” said U Kyaw Thura. The PSCs are being reviewed ahead of potential tenders for up to 31 Myanmar oil and gas blocks, which will be open to both local and foreign investors “in the near future,” officials from the MOGE said during a recent energy expo in Yangon. Although the exact time for the tenders cannot be confirmed, the ministry has commenced preparation for fresh rounds of bidding, which will be conducted “as early as possible”, the MOGE said.
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  Two day Summit was held in Yangon to focus on innovations and new ideas for bank operations, bank strategy, the new digital bank, fintech & bank synergies in Myanmar

  Best practices to successfully operate in markets for banking and financial institutions are being discussed at the Summit held in Yangon. The 2-day summit focuses on Innovations and new Ideas for bank operations, bank strategy, the new digital bank, fintech & banking synergies. Participants from different countries such as Thailand, Singapore, Malaysia and Japan –brings together learning and sharing about financial technology, Digital transformation and block-chain technology. This event brings knowledge together not only for Myanmar but also for the whole participants from other countries. Chairman, Banking and Fintech Summit 2018, Tim Scheffmann said “… There are a lot of new companies who can help banks and to get advantage in the market because they are introduce new technology which is more efficient for the banks. There are lot of new technology can be applied also to Myanmar.”
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  Myanmar Investment Commission (MIC) is now under new management which aims for MIC to be transparent, proactive, and to promote responsible investment

  Chairman of the Myanmar Investment Commission (MIC) Union Minister U Thaung Tun said that the MIC, under new management, will be “transparent”, take a “proactive approach” and promote “responsible investment”. Speaking at a meeting organised by the American Chamber of Commerce, the Australian Chamber of Commerce, the British Chamber of Commerce, and the European Chamber of Commerce at the Melia Hotel in Yangon yesterday, the MIC Chairman stressed that, with the launching of a number of significant steps, Myanmar is now open for business. The MIC is under new management and it is no longer “business as usual” he said. He continued “Let me underscore. The new MIC will be “transparent” and take “proactive approach” in seeking to promote “responsible investment”.