ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Chin State drew three domestic investments over the four years despite zero foreign investments in the state

  Chin State drew three domestic investments over the four years of the incumbent government, despite zero foreign direct investments in the state according to the Directorate of Investment and Company Administration (DICA). Those businesses brought into the capital of K3.368 billion. Chin State stands at the bottom in attracting domestic investments. Over the past four years, Yangon Region stood at the first place attracting 178 domestic investment businesses made by Myanmar Citizens, followed by Mandalay Region with 68 projects at the second place and Ayeyawady and Sagaing regions, with 45 each at the third place respectively. Additionally, domestic investments also flow into Taninthayi Region from 36 projects, Mon State from 28, Shan State from 25, Magway Region from 22, Kayah State from 16, Kayin State and Bago Region each from 15, Rakhine State from 11, Nay Pyi Taw from nine and Kachin from eight, the DICA stated.
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  Myanmar plans to reopen tourism industry by allowing Asia travelers in October 2020

  Myanmar, like many other countries, has shut down it’s the tourism industry since the emergence of the Covid-19 and is now planning to relaunch the industry for foreigners by allowing travelers from ASEAN and Asia in the fourth quarter this year, according to the Vice President U Henry Van Thio, who chairs National Committee for Tourism Department. The country also plans to set up ‘travel bridge’ to countries such as Laos and Cambodia, to which Myanmar doesn’t have direct flights and establish a ‘travel bubble’ with Thailand And Vietnam, to which Myanmar has direct flights. Moreover, the country eyes to expand its tourism with countries such as Japan, Hong Kong, Macao, and Korea, who can now control the virus.
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  Myanmar – China border trade hasn’t yet to resumed to normal

  Myanmar-China Border Trade has not yet returned to normal, but some trucks carrying rice leave the Muse border trade daily, U Min Thein, Vice President of Muse Wholesale Market, told Myanmar Business Today. “The border gates likely remain closed until the COVID-19 disappear,” he added. Authorities still ban people going through the border gates between Myanmar and China except for some freight trucks. Myanmar exports around 15,000-20,000 bags of rice daily as well as onion and green gram while China exports textile, construction materials, electronics, and food to Myanmar.
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  Myanmar Rice Federation (MRF) shown that State’s rice reserves to be sold at fairer price

  The rice (Aemahta variety), that have been purchased from export companies as country’s reserved rice, will be sold at a much fairer price, according to Myanmar Rice Federation (MRF). Those reserved rice will be sold through retail shops. The state’s emergency rice reserve is to ensure the food security, keep the price stable in the domestic market, continue to export them regularly, lessen the worries of the consumers during the pandemic, and not to harm the rice production of farmers due to the price fall when the new paddy is harvested.
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  State Counsellor encouraged local businesses to manufacture the products with quality higher than those of imported products

  Daw Aung San Suu Kyi, State Counselor of Myanmar, encouraged business leaders to manufacture the products with quality higher than those of imported products. “For businesses, high-quality products means dignity. Manufacturing high-quality products require more efforts than manufacturing low-quality ones,” she added. People would choose cheaper products if the quality is similar, but only when there is no alternative option. The government, on its side, always looks towards to help produce high-quality products, she assured.
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  Myanmar’s agricultural products exports increased USD $ 500 million as of 26 June in the current fiscal year

  Myanmar’s exports of agricultural products between 1 October and 26 June in the current fiscal year 2019-2020 exceeded US$3 billion from $2.54 billion in the corresponding period of the 2018-2019FY, according to the trade figures released by the Ministry of Commerce. During the past nine months, the export figures reflect an increase of $493.6 million against a-year ago period. In the exports sector, the agriculture industry performed the best along, accounting for 22 per cent of overall exports.
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  State Counsellor urged fishery sector to push its way into the global markets

  Daw Aung Sann Su Kyi, State Counsellor of Myanmar, urged the fishery sector to push its way into the global market. “Through innovative and creative ideas, the fishery sector needs to promote its products in both local and global markets, which will lead to increased export,” Daw Aung San Suu Kyi said during the online meeting held today. She stated that fishery products from Myanmar such as barnacle, oyster, and soft-shell crab are rare and expensive in European countries. “If you can make certain fishery products, which have been already popular in Myanmar, known in the international market and create demand for it, it will be good for the country’s fishery sector,” she added.
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  Local onion growers are facing the difficulties with their onion cultivation businesses due to the significant decline of foreign demand during the outbreak

  With the significant decline of foreign demand because of the outbreak of worldwide viral infection, the local onion growers are facing difficulties with their farming businesses, according to the local onion growers from Pale Township, Sagaing Region. The local farmers get only K310-K320 per viss. The price of onion is only K350-K360 per viss in Pakokku. Last year, the village market price of onion was K500-K700 per viss depending upon the onion size. The medium-sized onion fetched a good price. However, the price of onion declined this year because of coronavirus pandemic. The price of onion declined because we could not export it,” said Ko Hmat Kyi, an online seller from Ta Nae Village in Pale Township.
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  Myanmar exported more than USD $ 1 million worth products to Bangladesh via Maungdaw border trade

  Myanmar has exported more than US$ 1 million worth of export via the Maungdaw border during the month of June according to the Directorate of the Maungdaw Border Trade. Exports items of marine products were exported from the Maungdaw Border Trade to Bangladesh and as import items, plastic products were imported. “During the month of June, we earned more than US$ 1 million from export products. Plastic tanks and pipes as the majority of import products. Since July 4, border trade has stopped temporarily,” said an official from the Maungdaw border trade camp.
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  The exports earnings from the fisheries sectors reached over USSD $ 700 million in the 2019 – 2020 fiscal year

  Export earnings from the fisheries sector during the period between 1 October and 26 June in the 2019-2020 financial year reached US$703.7 million, an increase of $105 million from the year-ago period, according to the statistics released by the Commerce Ministry. The figures stood at just $598.7 million during a-year ago period. During the current fiscal, the fishery exports are expected to reach a record high. So far, over 580,000 tonnes of fishery products have been shipped to the external market. The export volume reflects an increase of 70,000 tonnes compared with those registered in the last fiscal year. Myanmar Fisheries Federation (MFF) expected to earn more than $800 million from fishery exports in the current fiscal year, said an official of MFF.