ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Livestock and fisheries sector attracted five foreign and local investment projects in the current financial year

  Myanmar’s Directorate of Investment and Company Administration says the country’s livestock and fisheries sectors have attracted four foreign investment projects and one domestic business so far in the current financial year 2019-2020, according to the Global New Light of Myanmar. According to the report, those businesses brought in around US$30 million, including the expansion of investments by the existing joint ventures. The ventures include broiler chicken farming, production, processing and marketing of all kinds of poultry feed, broiler hatchery, production of shrimp, freezing, and cold storage.
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  Myanmar and Japan are discussing the implementation of the National Logistics Master Plan to support the development of Myanmar’s logistics sector

  Myanmar and Japan discussed the final implementation of the National Logistics Master Plan, aided by the Japan International Cooperation Agency (JICA) to support the development of Myanmar’s logistics sector, according to the Ministry of Transport and Communications. A coordination meeting on the final discussion of the National Logistics Master Plan’s report was held at the Transport and Communications Ministry’s office in Nay Pyi Taw on August 17th. Deputy Minister for Transport and Communications delivered a speech at the meeting. Later, the Senior Representative from JICA in Myanmar embassy explained about the important of logistics system which supports socio-economic development. The master plan had been drafted by relevant organizations from JICA Study Team. The National Logistics Master Plan was drafted in July, 2016 with the JICA’s assistance. It was also led by the Ministry of Transport and Communications.
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  The value of imported CMP businesses raw materials plummet USD $ 1.87 billion over the past ten months of the 2019 – 2020 financial year

  Imports of raw materials by CMP businesses have been valued at US$1.87 billion over the past ten months beginning in October in the 2019-2020 financial years, which plunged from $2 billion registered in the corresponding period of last financial year, according to the Ministry of Commerce. Myanmar’s manufacturing sector is mostly concentrated in garment and textiles produced on the cutting, making, and packing basis, and it contributes to the country’s GDP to a certain extent. At present, some CMP garment factories have shut down on the reason for the lack of raw materials due to the coronavirus negative impacts, leaving thousands of workers unemployed. The pandemic badly batters the labour-intensive enterprises, said an official of the Directorate of Investment and Company Administration (DICA). To deal with the shortage of raw materials for the CMP garment factories in Myanmar, the Ministry of Commerce, the Myanmar Garment Manufacturers Association and the Chinese Embassy in Myanmar, the China Enterprise Chamber of Commerce in Myanmar (CECCM) have jointly imported raw materials through border trade channels and airlines.
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  Import deadline of extension for black bean is needed the response of Indian

  Although Myanmar’s bean body has asked for deadline extension for import quota of 400,000 tonnes set by India, there is still no response, said U Min Ko Oo, secretary of Myanmar Pulses, Beans and Sesame Seeds Merchants Association (MPBSSMA). “India has not released an official letter regarding deadline extension. Yet, Indian traders are predicting that there might be a one-time extension of the deadline. We have to wait and see that they will extend or not by the end of August,” he said. India rapidly changed the import period of black bean to three months by August-end 2020 from the earlier set deadline of March 2021, as per their official notice on 22 May. With the changes in Indian policy on bean importation, Myanmar still falls short of the target, and it is not possible to export all the entire quota. The growers have already sold out the beans, and they are in the hands of traders. They have stockpiled around 200,000-250,000 tonnes of black beans, the association stated.
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  Government’s subsidy is requisite for small scale rubber farmers to survive in the industry

  Government’s subsidy is a requisite for small-scale rubber farmers to survive in the industry, said U Khaing Myint, secretary of Myanmar Rubber Planters and Producers Association (MRPPA). Those small-scale rubber farmers account for 92 per cent of rubber plantation in Myanmar. “We need the government’s subsidy for the small-scale rubber farmers to survive in the crisis. They constitute 92 per cent of rubber plantation. They need contribution and technical assistance to maintain quality.
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  Myanmar – EU trade exceeded USD $ 2.57 billion in nine months of the current financial year

  Myanmar’s trade with members of the European Union (EU), during the first nine months of the current financial year 2019-2020, reached over US$2.57 billion, according to the statistics released by the Ministry of Commerce. Myanmar’s export to the EU surpassed its import, with $1.845 billion worth of export and $726.147 million valued import. Beyond regional trade regime, Myanmar has established trade links with EU members. Germany is the biggest trade partner in EU with the most considerable trade value, of $564.993 million with Myanmar, followed by Italy in second place, with about $349.166 million. Spain was listed in third place with trade valued at $344.092 million, while The Netherlands stood at fourth place with an estimated trade value of $325.755 million. Myanmar’s trade with France reached about $243.332 million.
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  The value of Sino – Myanmar bilateral trade reached over USD $ 9.17 billion in October and June in the 2019 – 2020 financial year

  The value of Myanmar trade with China through maritime trade channels totalled over US$9.17 billion in October and June of 2019-2020FY, including $4.03 billion worth of exports and $5.13 billion for import, according to the data released by the Ministry of Commerce. Myanmar primarily exports agro products to China through the borders. However, trade of agricultural products is frequently halted on account of China clamping down on illegal trade in border crossings. China has been stepping up border control measures to contain the spread of the coronavirus, causing traffic congestion in the border areas of two sides and delays.
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  Ministry of Commerce banned importers for providing forged or incorrect documents from applying for import licenses through online system

  Department of Trade under the Ministry of Commerce on August 14 has placed a three-month ban on importers, warned by the FDA for providing forged or incorrect documents, from applying for import licenses through the online system. FDA has warned companies who provided incorrect or forged documents required when applying for Import Recommendation (IR). The Department of Trade issued a food import license per the Food and Drug Administration’s IR. It also has announced the negative list for the goods that required import license on May 21, 2019, at https:www.commerce.gov.mm.
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  The value of regional trade reached USD $ 9.94 billion in the nine months of 2019 – 2020 financial year

  The value of Myanmar trade with ASEAN countries through the sea route and land borders has registered at US$9.94 billion in the nine months (Oct-June) of the 2019-2020 financial year, according to the Ministry of Commerce. The ministry reported that imports surpassed exports in regional trade, with exports reaching over $3.6 billion and imports valued at over $6.32 billion. Since October, Thailand has been Myanmar’s largest trade partner in ASEAN, with trade valued at $3.9 billion, followed by Singapore ($3.3 billion), Malaysia (over $1 billion) and Indonesia ($936.5 million). Viet Nam has emerged as the nation’s fifth-largest trade partner, with bilateral trade estimated at $609.47 million.
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  Myanmar Investment Commission (MIC) approved three new investments worth USD $ 20 million which will create 750job opportunities

  The Myanmar Investment Commission held a regular meeting yesterday morning. The meeting was chaired by Union Minister U Thaung Tun, Chairman of the MIC, Union Minister Dr Than Myint, Vice-Chairman of the MIC and (10) members of the Commission attended in the meeting. Chairman of MIC, U Thaung Tun stated that MIC strives for achievement of the investment targeted amount of USD 5.8 billion in the near future and further stressed MIC’s commitment to responsible investment. The meeting approved (3) new projects in the manufacturing sector, hotel sector and other services sector as well as additional investments in (3) existing projects. The approved projects amounted to USD (20.057) million, Kyat (158,059) million and (750) job opportunities are expected to be created.