ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Myanmar's first central rubber market to be built during the next financial year at Mawlamyine in Mon State

  Myanmar's first central rubber market will be built at Mawlamyine in Mon State as authorities seek to help the industry amid low prices and sluggish sales. Mon State is the country’s top rubber producer and the commodity is considered a “promising export” in Myanmar’s National Export Strategy (NES).
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  Myanmar's trade steady year-on-year despite flooding (with exports - USD 6.858 billion and imports - USD 9.356 billion as of end October in this fiscal year, where exports was USD 6.723 billion and imports - USD 9.522 billion over the same period last year) : Ministry of Commerce

  Myanmar’s bilateral trade was worth US$16.204 billion over the first six months of fiscal year 2016, placing the country on track to meet its $29.9 billion target by the end of the year. U Win Myint, director of the Trade Promotion Department under the Ministry of Commerce, told The Myanmar Times that exports until end-October were worth $6.848 billion and imports had reached $9.356 billion. This compares with the first six months of last year, when exports were worth $6.723 billion and imports valued at $9.522 billion, he said, with total trade just marginally higher than this year, at $16.247 billion. This year the ministry targets $12 billion of exports and $17.7 billion of imports, said U Win Myint.
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  The Reserve Bank of India issues circular calling an end to barter trade at the India-Myanmar border

  Under the existing system,traders can exchange goods worth less than US$20,000 including pulses and beans, fresh fruits and vegetables, spices, bamboo, forest products (excluding teak), tobacco and other commodities. “Barter trade was initially permitted to facilitate exchange of locally produced commodities along the Indo-Myanmar border,” said the November 5 notice.
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  Yangon election 'smooth, peaceful, orderly': observer

  An election observer from the Asian Network for Free Elections says his initial impression of yesterday’s polls was of a peaceful, orderly vote. DamasoMagbual, ANFREL’s head of mission, said last night that voting appeared to be in line with procedures laid out by the Union Election Commission (UEC).
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  No slowdown in foreign investment in Myanmar : Secretary General of Myanmar Investment Commission

  The figures go some way to proving it. The MIC has approved 127 projects this year, 10 more than in the same period last year. Total pledged FDI to end-October has dropped slightly to $3.7 billion from $4.1 billion, though 55 more projects are awaiting approval. “It’s not a slowdown,” he said. “I’m quite sure we will meet the target.”
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  Uncertainty regarding the national elections on November 8 has caused many business decisions to be put off later in the year: Vice Chairman of UMFCCI

  DrMyoThet, vice-chairman of UMFCCI said, “Everything depends on the results of the election. If the country goes forward and forms a new government peacefully, the country's economic situation will be good. Business leaders are hesitant to invest now, but can make informed decisions at that time. We can’t predict the country's situation even a few weeks into the future, as so many things depend on the results of the election.”
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  Thai businesses should take a more aggressive approach to penetrating Myanmar before other investors get too far ahead: Thai Ambassador to Myanmar

  Although Thailand and Myanmar are neighbours, Thai investment in the country remains small with fresh investment pouring in at slower pace compared with other countries.
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  Myanmar's largest event organizer Index Creative Village Plc to form a joint venture with two foreign partners to expand its lifestyle business in Myanmar next year

  Index Creative Village Plc, the country's largest event organiser, will form a joint venture with two foreign partners to expand its lifestyle business in Myanmar next year. The move aims at doubling revenue in Myanmar and lifting the group's lifestyle business contribution to 15% of the total in the next two to three years from the current 7%. "We're talking with two potential partners and if the deal is concluded, the three parties will inject 100 million baht into the new venture," said Kriengkrai Kanjanapokin, Index's co-CEO.
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  As rivalry in the banking sector heats up, several lenders in Myanmar are reporting falling profits

  As rivalry in the banking sector heats up, several lenders are reporting falling profits. In an attempt to lure customers over the past year, banks have fiercely competed in several areas including remittance fees and deposit rates. Public companies including Global Treasure Bank (formerly under the Ministry of Livestock, Fisheries and Rural Development) and Asia Green Development Bank say that margins are being squeezed.
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  Upper Belu Creek hydropower project in Shan State to resume with completion slated for 2018

  A hydropower project in Shan State which has been on hold for two years will resume with completion slated for 2018. New Power Oasis Development signed a build, operate, transfer contract in 2011 to develop the Upper Belu Creek Hydropower Project.