ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Ministry of Agriculture, Livestock and Irrigation will provide fish seeds for 15,000 acres of fish breeding ponds

  The Ministry of Agriculture, Livestock and Irrigation will provide 2,000 fish seeds per acre of the fish breeding pond for a total of 15,000 acres of fish breeding ponds using K 6 billion budget. The Ministry has provided fish seeds to owners of 112.61 acres of fish-breeding ponds in Taungoo Township as the first batch and will provide fish seeds to 421.69 acres. Moreover, the government has allocated K60 million for training programs on safety on the seas and the ministry is planning to provide trainings to fishermen and fishing breeding farmers in the most effective ways.
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  Annual inflation rate in Myanmar stood at 7.91 percent in June 2020

  The annual rate of inflation in Myanmar, based on the Consumer Price Index, stood at 7.91 per cent in June 2020, according to a report released by the Central Statistical Organization under the Ministry of Planning, Finance and Industry. The figure has remained above 8 per cent since June 2019. The inflation rate stood at 7.28per cent in March 2019 and gradually inclined. It reached a peak of 8.61 per cent in September and dipped in November. It touched the highest level at 8.81 per cent in December 2019 because of the high season. Afterwards, despite the drop in fuel oil price and gain in local currency, power tariff hike led to higher inflation rate up to 9.2 per cent in February 2020. Then, it gradually declined. The inflation rate was registered at 8.35 per cent in May 2020, and so, the month of June with 7.91 per cent witnessed a small decrease of 0.44 per cent against May’s rate. The core inflation, which strips out volatile food and energy prices, was 13.41 per cent in June 2020. The Myanmar Kyat weakened against the US dollar in June, with a fall of K13 than the previous month. However, the imported oil price and gold price significantly rose in June compared with May’s rates, causing food price to increase sharply.
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  The total border trade using Individual Trading Cards (ITCs) exceeds over K 37 billion in ten months of the current financial year

  Total border trade conducted by Individual Trading Cards (ITCs) exceeded K37.84 billion in ten months of the current financial year (FY) of 2019-2020 which started in October, according to the data released by the Ministry of Commerce. From 1 October to 31 July this FY, the Ministry issued 61 ITCs and export using those cards through border gates earned the exporters over K2.6 billion while its imports exceeded K35.24 billion. The Myawady border recorded the highest trade at a value of K24.78 billion in the current FY, according to the Commerce Ministry. Myanmar mainly exports agricultural products, animal products, marine products, minerals, forest products, manufacturing goods and others to foreign trade partner countries. In contrast, capital goods, intermediate goods and consumer goods are imported.
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  Tanintharyi Region plans to export marine products to Thailand in order to increase foreign income of the trading sector

  YANGON-Although all industries in Taninthari Region temporarily suspended during COVID-19 outbreak, plans are underway to export marine products from Taninthari Region to Thailand, according to the announcement of the Ministry of Agriculture, Livestock and Irrigation. In order to increase foreign income of the trading sector, three cooperative associations in Kawthaung Township, Taninthari Region exported their fishery products to the abroad. So, they had earned US$4.6 million from export of fishery products in 2019-20 fiscal years.
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  Copperbrains introduced a new e-commerce solution based on facebook messenger for SMEs

  Copperbrains, an IT solution provider linking businesses with the digital ecosystem in Myanmar, launched the eBOT, a Facebook integrated system helping customers purchase their favorite products via Messenger. The solution aims to support local entrepreneurs by connecting them to a growing market of e-Commerce. Two years ago, the company developed its first eBOT in Myanmar for myanpwel.com. An easy setup solution connects the enterprise directly to its Facebook page and then brings it into the eCommerce market. Moreover, unlike other international solutions, eBOT is also compatible with local payment methods enabling customers to make payments not only with VISA or Mastercards but also using vastly popular mobile wallets. The launch was initially planned for November 2020 but due to the COVID-19 pandemic, the team has decided to fast forward a first version of the eBOT earlier.
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  Foreign Direct Investment (FDI) in Special Economic Zone (SEZ) rake over USD $ 116 million investments as of the end of July in the 2019 – 2020 fiscal year

  Foreign investments of US$116.557 million have flowed into the Special Economic Zones (SEZs), under the Special Economic Zone Law, as of July-end in the 2019-2020 financial year since October 2019, according to the figures released by the Directorate of Investment and Company Administration (DICA). Since its establishment, over 110 enterprises from 18 countries and four local businesses have ploughed in nearly $2 billion as of July-end, 2020 in the zones, the investment source indicated. While the manufacturing sector has absorbed the largest share of foreign investments, FDI has also flowed into the trading, other services, transport and logistics, real estate, and hotel sectors. Japan has topped the list of foreign investors so far, accounting for over 34 per cent of the overall investment, followed by Singapore and Thailand. FDI has also flowed into the SEZs from the Republic of Korea, Hong Kong, the UK, Australia, the UAE, Malaysia, Austria, China (Taipei), Panama, China, Brunei, Viet Nam, France, Switzerland, and the Netherlands.
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  Hong Kong based firm, Glamoroso Apparel (Myanmar) Co., Ltd will develop a factory in Industrial Zone in Bago Region which will create over 8,000 job opportunities

  Hong Kong-based Glamoroso Apparel (Myanmar) Co., Ltd will develop a factory on 20 acres of land in the industrial zone in Bago Region, creating over 8,000 jobs for the locals. General Manager Mr Lau Siu Kin of Glamoroso Apparel (Myanmar) Co., Ltd and Bago region factory establishment and supervisory committee secretary U Khin Maung San signed a land lease agreement on 12 August. At the leasing event, Bago Region Chief Minister U Win Thein gave the remark that the region is always open to the investors and the regional government will support them in line with the law. “The investments can create job opportunities for local people and help boost state revenue. The company will engage in the manufacturing of apparel. It has also grasped a market share in European countries,” he added.
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  Yangon Region Investment Committee (YRIC) approved two foreign projects and one domestic project which will create over 1,000 job opportunities

  The Yangon Region Investment Committee (YRIC) virtual meeting on 12 August has approved two foreign projects from China, and Samoa and one domestic project. Those projects will bring in US$6.964 million and K2.17 billion, creating 1,073 jobs. They will invest in manufacturing of foam mattress, camera bags and garments on a Cutting, Making, and Packing (CMP) basis, according to the Directorate of Investment and Company Administration. The manufacturing sector has attracted the most foreign investments in Yangon Region, with enterprises engaging in the production of pharmaceuticals, vehicles, container boxes, and garments on a Cutting, Making, and Packing (CMP) basis. The investments in the regions also flowing into the hotel services, and other services sectors as well. To date, foreign investments from China, Singapore, Japan, Hong Kong SAR, the Republic of Korea, Viet Nam, India, China (Taipei), Malaysia, the British Virgin Islands, Samoa and Seychelles are arriving in the region. Yangon Region tops foreign investments among the regions and states, attracting more than 600 enterprises over the four years of the incumbent government, according to the Directorate of Investment and Company Administration (DICA). According to DICA statistics, Yangon Region absorbs 60 per cent of all investments in Myanmar, Mandalay attracts 30 per cent, while the other regions and states receive only a small share of investments.
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  Government will find a way for equal economic opportunities for both Myanmar and China when implementing Chinshwehaw Economic Zone

  Daw Aung San Suu Kyi said the government of Myanmar will find a way to make both countries have equal economic opportunities when implementing Chinshwehaw Economic Zone, which is located at the Myanmar-China border. She made that remark during a video conference with the chairmen of the special autonomous regions and administrators of the regions and states. Myanmar and China are also planning to implement China-Myanmar border economic cooperation zones in Muse, Chinshwehaw and Kan Paik Ti and aiming to develop core zone and warehouses as the two countries made an agreement to develop border economic cooperation zones at the border areas during the State Counsellor’s visit to China in 2017 to attend BRI conference.
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  Export rice prices are slightly drop due to the low demand by the China

  The export rice prices in recent days are slightly dropping on account of the falling demand by China, said vice chairman U Min Thein of Muse Rice Depot. In the first week of August, China purchased about 30,000 bags of rice per day. The demand plummeted to about 10,000 bags in recent days. “The price of rice is declining in China. Earlier, the rice was priced 130-132 Yuan per bag. It is now rarely traded at 125 Yuan. The price slipped back slightly,” he said. The General Administration of Customs of the People’s Republic of China (GACC) granted licences to 43 Myanmar companies on 10 July 2020 to export the rice to China through a legitimate trade channel. About 10 of them are exporting rice to China, he continued.