ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Investment opportunities emerge as the government strives to establish a functioning economic zone in Kanyin Chaung, Rakhine State

  Investment opportunities in Rakhine State are emerging as the government ups efforts to establish a functioning economy that will create jobs and encourage stability in the region. This month, local private sector experts and businessmen were invited to a briefing promoting investments in Rakhine. Selected sectors of the economy will be prioritised under a five-year plan established by the Rakhine State government, U Kyaw Aye Thein, Rakhine State Minister for Planning and Finance, told The Myanmar Times. The sectors include agriculture, fisheries, livestock breeding, forestry and tourism. Support will also be given to small and medium enterprises (SMEs) in the state. Kyaukphyu, Yanbye and Manaung were pinpointed as promising areas for the cultivation of crops such as ginger, coconuts and bananas.
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  UMFCCI organized nine private sector task forces to take part in the government’s Union Enterprise for Humanitarian Assistance, Resettlement and Development (UEHRD) project

  Union of Myan¬mar Federation of Chambers of Com¬merce and Industry (UM¬FCCI) has organized nine private sector task forces to take part in the govern¬ment’s Union Enterprises for Humanitarian Assis¬tance, Resettlement and Development (UEHRD). As the second poorest state in Myanmar, Rakh¬ine state has been facing many challenges and dif¬ficulties with the ongoing conflict between Rakhine Buddhists and Bengali Muslims, this is one of the barriers leading to a de¬veloped state. The government is at¬tempting to stabilize the conflicts and find solu¬tions to negotiate the ten¬sion between two groups. The state needs assis¬tance from international organizations and local organizations including participation from busi¬ness leaders.
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  Singapore investors pile funds into Myanmar as interest in Myanmar rises

  Yoma Strategic, an affiliate of Yangon Stock Exchange-listed First Myanmar Investments Company (FMI), has successfully closed a placement of shares that will enable it to raise S$82.2 million in fresh funds in Singapore, where it is listed on the Mainboard of the Singapore Stock Exchange. In a November 5 statement, Yoma Strategic said the placement, which was oversubscribed, received interest from both existing and new investors. Under the placement, a total of115 million new shares were issued at 53 Singapore cents each, representing a discount of 9.4 percent to the volume weighted average price of 58.5 Singapore cents per share for trades done between November 2 and November 3. The new shares will represent 8.2pc of the enlarged share capital of the company.
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  Despite the government’s aim to push Myanmar up the World Bank’s ranking for ease of doing business, Myanmar has fallen one place over the past year

  DESPITE the government’s aim to push Myanmar up the World Bank’s ranking for ease of doing business, the country has fallen one place since last year and remains the least favourable country to conduct business within the ASEAN region. In the World Bank’s Doing Business rankings released on Tuesday, Myanmar ranks 171th out of 190 countries in the overall ease of doing business, one place lower than its 171th ranking last year. The country occupies a position between Sudan (170) and Liberia (172). It remains the lowest-ranked ASEAN member and, with the exception of Timor-Leste, the worst-ranked country in East Asia and the Pacific region. It is also the fourth lowest-ranked country in Asia, after Afghanistan, Bangladesh and Timor.
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  Rakhine State Government Committee and private companies signed a MOU with the aim of implementing three mega projects for regional development in Rakhine State

  SITTWE - With the aim of implementing three mega projects for regional development in Rakhine State, a memorandum of understanding (MoU) has been signed between the Rakhine State Government Committee and private companies on October 30. The mega projects are construction of Kanyinchaung trade zone on Maungdaw Township, development of Manaung Island and construction of Ngapali International Golf Club. “We signed agreement with three companies on October 30h aiming for development of Manaung Island, implementation of trade zone and the upgrading of Ngapali golf club to meet international standards,” said Kyaw Aye Thein, Minister of Finance, Planning and Commerce from Rakhine State Government Committee.
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  Heineken Myanmar aims to expand its future brewery despite Myanmar’s low beer consumption at 6 litres per capita on a yearly basis

  THOUGH Myanmar’s beer consumption is low at 6 litres per capita on a yearly basis, Heineken Myanmar sees it as a good opportunity for its expansion in Myanmar, according to managing director Rene Sánchez Valle. Sánchez Valle said in an interview that Myanmar is a dynamic and evolving market to be in, and the firm is optimistic about the future and continued growth. “With a rising middle class and disposable incomes, combined with a thirst for exciting new products, there is potential growth for the future,” he said. “For us, being present and building a strong business in Myanmar complements our regional strategy and presence in Asia. We are here to build a sustainable business. We are optimistic about the future and our position as a strong competitor in the market.”
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  Due to the increasing number of unlicensed vehicles, the regional government authorities drafted a new car import policy on the issuance of car licenses in Yangon

  Yangon YANGON Region Chief Minister U Phyo Min Thein said that the regional government is working to draft a new car import policy on the issuance of car licenses in Yangon due to the increasing number of unlicensed vehicles, vehicles registered in other regions and expired vehicles. The news came out of the 11th regular meeting held on 27 October between the Private Sector Development Committee led by Vice President U Myint Swe and businesspersons in Yangon. “Yangon Region government has currently drafted the new policy in cooperation with the Ministry of Commerce,” said U Phyo Min Thein.
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  A joint investment company between Yun Nan Jian Sheng Co., Ltd and a local company, Thandaw Myat Co., Ltd set up a new production line, making it the first cement plant to produce 10,000 tonnes per day

  Myanmar Thandaw Myat Company, a joint invest¬ment company between Yun Nan Jian Sheng In¬vestment Co., Ltd, and a local company, Thandaw Myat Co., Ltd has boosted its Double Rinos brand ce¬ment production by setting up a new production line with the capacity of 5,000 ton per day, according to opening ceremony of new production line on October 26. The cement plant, lo¬cated in Kyaukse in Man¬dalay region, was estab¬lished in 2012 with an investment of K20 bil¬lion relevant to $20 mil¬lion. After adding a new production line, now it becomes the first ce¬ment plant that produces 10,000 tonnes per day.
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  Draft of foreigner laws announced by DICA have been criticized for causing considerable difficulties in employing foreigners in Myanmar

  ELEMENTS of the draft foreigner laws are back, in another form, to haunt businesses and investors. The government’s newly expanded requirements on hiring foreign employees have been criticised as “burdensome and disruptive” and “another incarnation” of the draft foreigner laws which were submitted to the legislature in February. A leading legal expert has described the changes as “a possibly good intention” which “has gotten lost in a bureaucratic regulatory nightmare without any sunshine ability to improve the draft regulations”. Two announcements released by the Directorate of Investment and Company Administration (DICA) in early last month entered into force on October 21, the “Appointment of foreign experts” (AFE) and “Announcement for companies” (AC). The AFE will bring about considerable difficulties regarding applications for employing foreigners in Myanmar, but the authorities have yet to spell out the details and process.
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  Bilateral trade between Northeast India and Myanmar can be raised significantly to strengthen economic ties between the two countries

  Bilateral trade between Northeast India and Myanmar can be raised significantly to the benefit of businesses at both sides of the border, India Consul General Mr. Nandan Singh Bhaisora said during a Mandalay meeting to strengthen economic ties between the two countries. The meeting included businessmen from India as well as Mandalay region, Chin state and Sagaing Region. It was held ahead of the launch of the India-Myanmar Chamber of Commerce, which took place in Yangon on November 1. While India is an important ally and facilitator for Myanmar in its dealings with the West, Myanmar is also significant for India when communicating with ASEAN, he said. The move comes amid dwindling border trade between the two countries. During the 2016-17 fiscal year, border trade between India and Myanmar totaled $76.4 million. For the first six months of the current 2017-18 fiscal year, trade amounted to $32.7 million compared to $48.2 million during the same period last year.