ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

Large volumes of natural gas will be available from Myanmar’s onshore and offshore gas fields by 2023 providing investment opportunities for international oil and gas firms (U Win Khaing, Union Minister of Electricity and Energy)
Larger volumes of natural gas will be available from Myanmar’s onshore and offshore gas fields within the next five years, yielding fresh opportunities for international oil and gas firms to invest in the sector, said U Win Khaing, Union Minister for Electricity and Energy (MOEE). “Gas production will be a priority for the government over the next few years. However, we do not have the capital or the technology to do so. We need to cooperate with international oil and gas firms to produce the gas and in doing so make it available for the country as soon as possible,” he said. U Win Khaing’s announcement comes even as ongoing price negotiations on the import and distribution of liquefied natural gas (LNG) takes place between the MOEE and several international gas firms. The government is planning to import LNG to fill an existing shortage of electricity in Myanmar. Over the next two years, it has promised to double the current supply of electricity to 6,000 megawatts using LNG.
Development of Hpa- An Industrial zones has been delayed as some speculative investors have failed to make progress on developing the zones (U Soe Hlaing, Kayin State Electricity and Industrial Minister)
Development o f Hpa-An Industrial Zone, Kayin State, has been slow to take off because some developers have failed to make progress on developing the zones, said U Soe Hlaing, Kayin State Electricity and Industrial Minister. “There are some buyers who have purchased land within the industrial zone for speculation purposes and not for development. Consequently, genuine investors have not been able to buy certain plots of land which may be more strategic for their business,” said U Soe Hlaing. He added that the necessary infrastructure needed to conduct operations within the zone have already been set up. “Roads, electricity and land space are already provided at the industrial zone but development has not started because the current land owners are holding the land to speculate on price and not for development,” he said. Kayin State is among the states in which industrial zones enjoy benefits such as tax waivers for up to seven years.
Construction of new circular roads in being extended to the whole Yangon Region to boost investments in outskirt areas
YANGON- Construction of new circular roads is being extended in the whole Yangon Region to boost investments in outskirt areas, says U Than, Joint Secretary of Yangon City Development Committee (YCDC). “The current population of 5.2 million will be increasing to over 10 million by 2040 because Yangon will become a “Mega City”. As more and more of the population moves into Yangon, especially there will be developments along Circular Railroad,” said U Than. Moreover, Yangon Region Investment Committee is now discussing about establishment of industrial zones in Yangon Region with China and South Korea, according to the pre-press conference of Yangon Investment Forum 2018 held in Cooperative Business Centre on May 2nd.
International Finance Corporation (IFC) and Myanmar authorities released the draft Strategic Environmental Assessment (SEA) report to improve the sustainability of hydropower sector
The draft strategic environmental assessment (SEA) report which aims to improve the sustainability of the hydropower sector was released by the International Finance Corporation (IFC) and the government. The Ministry of Electricity and Energy (MOEE) and Ministry of Natural Resources and Environmental Conservation (MONREC) led the report which has been shared with stakeholders for public review and feedback. “For the past 18 months, the SEA process has engaged stakeholders from civil society, NGOs, private sector, financial institutions and development,” the IFC, a member of the World Bank Group, said in a statement released on May 21. One major recommendation outlined in the SEA is to preserve the mainstems of the country’s key rivers – including the Ayeyarwady, Thanlwin and Chindwin among others - encouraging decision makers to explore locations that have less environmental, social and cultural risk. U Hla Maung Thein, director general of the Environmental Conservation Department under the MONREC, said that his department, having reviewed the SEA final report and recommendations, agrees with “the direction it is pointing hydropower development in”. “Recommending to protect the mainstems [principal watercourse] of Myanmar’s key rivers would be a monumental achievement with multiple socio-economic benefits, keeping the natural ecosystems of our country. We hope to see this recommendation moved forward by decision makers,” he commented.
Department of Urban and Housing Development under the Ministry of Construction declared its commitment to implement four mega infrastructure projects in Yangon and Mandalay in 2018
The Department of Urban and Housing Development under the Ministry of Construction yesterday announced its commitment to implementing four mega infrastructure projects in Mandalay and Yangon regions. In Mandalay, the MOC has shortlisted six companies, one of which will be selected as Master Developer of the New Mandalay Resort City, which will be developed in Pyin Oo Lwin. The 9,893 acre project will be developed in three phases. Phase 1 will include an IT facility, convention centre, schools and a commercial zone comprising malls and banks. Phase 2 will be divided into several zones for developing sectors such as industry and tourism. The third phase will comprise housing options, a golf course as well as hotel and even agriculture zones. A Master Developer is expected to be selected by the end of this month. “This project will be developed in phases as it is huge project. We will discuss the timeline, additional investments and other details with the Master Developer,” Daw Moe Thida, deputy director at the Department of Urban and Housing Development, told The Myanmar Times.
Ministries of Commerce, Industry, Office of the State Counsellor, Auditor-General Office held the press conference on the second one year performance of the incumbent government
In continuation of the Union Ministries’ reviews on their second one-year performance, the Ministry of Commerce, Ministry of the State Counsellor’s Office, Ministry of Industry, and the Office of the Auditor General of the Union held a press conference in Nay Pyi Taw yesterday. Ministry of Commerce Deputy Minister U Aung Htoo said his ministry has shifted focus from controlling trade to supporting and promoting it and is employing indirect tactics to that end. He said their goal is to triple exports by Fiscal Year 2020-2021, and reported that in FY 2017-2018, Myanmar’s imports generated US$14.83 billion, an increase of US$3.80 billion in imports from US$11.13 billion in FY 2015-2016 The Ministry of Commerce has removed license requirements for 3,345 items of export and 4,818 items of import to promote more trade. They have also approved of joint ventures with foreign companies for agricultural machinery, and approved domestic trade among foreign and joint-venture companies for fertilizer, crop seeds, pesticides, medical apparatus, and construction equipment. The ministry also approved live export of oxen, cattle, goats and sheep, trade of gold, gold artifacts and jewellery, and wholesale and retail joint-ventures with foreign companies.
Internal Revenue Department (IRD) will implement Self Assessment System (SAS), moving away from the existing system of tax collection (U Myint Thaung, Yangon Regional Planning and Finance Minister)
The Internal Revenue Department (IRD) will practice a Self Assessment System (SAS), moving away from the existing system of tax collection, U Myint Thaung, Yangon regional Planning and Finance Minister, said in Parliament this week. “We will start implementing SAS so that taxpayers do not need to seal with staff from the tax offices. This will help to reduce corruption,” U Myint Thaung said. The government is taking measures to reduce corruption within the ranks of public service. In 2017-18, punishments were meted out against IRD employees who engaged in corrupt or illegal activity, including sacking and demotions. One was also sentenced to five years in jail. “Under the SAS, all taxpayers will be treated equally and we can eradicate cases where tax officers accept bribes from taxpayers to collect less tax or allow higher levels of tax relief,” he said.
Eco-tourism, and road improvements for better communications are underway to promote socio-economic development in Chin State
Vice President U Henry Van Thio inspected the development undertakings in Falam and Haka townships of Chin State on 19 May. The vice president was accompanied by Chin State Chief Minister U Salai Lian Lwal, Chin State Hluttaw Speaker U Zo Bwe, Deputy Ministers Rear Admiral Myint Nwe, Maj-Gen Than Htut and U Soe Aung, Chin State cabinet members and other officials. The vice president and his delegation visited the 200-bed hospital in Falam, where they met patients and provided them with cash assistance. After viewing the sites for hospital staff quarters and the nurses training school, the vice president said the upgrade of hospitals and the extension of nurses training schools were being done to ensure effective public healthcare. Hence, officials should work systematically to prevent financial wastage. Later, the vice president inspected the site near Talanzar Village in Falam Township, where the Laiva Dam will be built. At the briefing hall, the vice president and his delegation heard a report on the lower Dam Laiva project that will supply water to Falam, presented by an official from the Irrigation and Water Utilization Management Department. The vice president said special attention must be given to the project to prevent financial wastage and ensure maximum public benefits.
Ministry of Construction (MOC) invited both local and foreign companies to submit expression of interest (EOI) to participate in the construction of an elevated four lane ring road in Yangon
The Ministry of Construction (MOC) is inviting the private sector to submit Expressions of Interest (EOI) to participate in the construction of an elevated four-lane ring road in Yangon. The MOC on May 18 invited both local and international companies interested in designing, engineering, financing, constructing, operating and maintaining the proposed expressway under a Public Private Partnership (PPP) to submit EOIs before June 29. An official tender process is expected to take place later in the year, the MOC said. It also added that it may decide to split the project into sections involving multiple tenders. Each section will be developed under a PPP structure or by accepting funds from the IFC. The MOC, together with the Yangon regional government, is planning to build the approximately 47.5-kilometer four-lane elevated ring road to connect downtown Yangon, Yangon Port, Yangon International Airport, Mingalardon Industrial
Elite Petrochemical Company launched the first private sector-led LPG investment in Myanmar at Thilawa Special Economic Zone on 19 May 2018
Elite Petrochemical Co launched its Liquefied Petroleum Gas (LPG) Terminal and Port Facility at the Thilawa Special Economic Zone on Saturday. The terminal is the first private sector-led LPG investment open for business in the country. The terminal was developed under a Build, Operate and Transfer (BOT) agreement across 49 acres of land in Thilawa after receiving approval from the Myanmar Investment Commission and on recommendation from the government, said U Aung Thet Mann, executive chair of Elite Petrochemical, during the opening ceremony of the terminal. U Aung Thet Mann is son of former Pyithu Hluttaw chair U Thura Shwe Mann. The entire project will be developed in phases. Phase 1 includes construction of a 20,000-tonne jetty and storage facilities for up to 3,000 tonnes of LPG. Design of the terminal and storage facilities were drawn up with the help of China Harbour Company and China National Petroleum Company, respectively. In the second week of April, a 1,000-tonne LPG vessel docked for the first time at the port.