ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Myanmar’s exports up over USD $ 500 million as of June in the current 2019 – 2020 fiscal year when compared to the same period of previous year

  Myanmar’s exports have witnessed an increase of over US$500 million as of 5 June in the current fiscal year2019-2020 compared with the year-ago period, according to the Trade Department under the Ministry of Commerce. Myanmar’s exports between 1 October and 5 June in the current fiscal shot up to US$12.1 billion from $11.6 billion registered in the corresponding period of the previous fiscal, the figure reflects an increase of $503 million compared with the year-ago period, according to data from the Ministry of Commerce. Similarly, the imports this year exceeded $13.73 billion, which rose from $12.34 billion registered in the same period of last year, showing an increase of $1.39 billion.
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  Myanmar solar tender conditions knocked out foreign bidders despite the ban on travel restrictions and quarantine measures

  Myanmar has effectively excluded potential foreign bidders from a major solar farm tender by imposing tough conditions, including a refusal to accept online submissions even while a COVID-19 ban on international flights has been extended. The Ministry of Electricity and Energy’s Electric Power Generation Enterprise (EPGE) informed companies that had purchased tender documents that “online submission is not allowed” despite the ban on travel restrictions and quarantine measures. In a June 12 note signed by EPGE managing director U Than Naing Oo in response to a query by a potential bidder, the EPGE also ruled out allowing bids to be prepared outside the country and then scanned, printed and submitted in Myanmar.
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  Investors are still facing the challenge on the Myanmar Government over the Vacant, Fallow and Virgin (VFV) land law

  An existing policy requiring mineral exploration permit applicants to obtain land grants could deter investors and "kill off" foreign investments in mineral exploration in Myanmar. Yangon’s business community is unclear about why the government is applying the Vacant, Fallow and Virgin (VFV) land law to exploration. One possibility is that the agriculture ministry wants to raise funds from making companies apply for VFV permits. The agriculture ministry’s insistence that the VFV law applies to minerals exploration “threatens the very viability of the exploration sector and one that is already making the industry extremely unattractive to foreign investors,” the International Investors for Mineral Development Association said in a May 15 letter seen by The Myanmar Times.
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  Myanmar’s exports between 1 October and 5 June in the current financial year increase

  Myanmar’s exports between 1 October and 5 June in the 2019-2020 financial year shot up to US$12.1 billion from $11.6 billion registered in the corresponding period of the previous fiscal, according to data from the Ministry of Commerce, state media reported. The figure reflects an increase of $503 million compared with the year-ago period. Of the seven export groups, agriculture, fisheries, minerals and other goods showed an increase in exports. Meanwhile, exports of livestock, forest products and finished industrial goods declined.
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  Fishery exports from Myanmar surges by USD $ 100 million despite COVID – 19 pandemic

  Fishery exports from Myanmar have increased by $100 million as of June 5 since October 1, the beginning of the 2019-2020 fiscal year, compared to the same period last fiscal year, according to data from the Ministry of Commerce. In this fiscal year, the country has earned $670.13 million this fiscal-year contrast to $569.418 million in the last fiscal year. However, during the earliest days of the COVID-19 pandemic, fishery export to China almost stopped causing concerns that Myanmar’s fishery sector was at the brink of collapse. Fortunately, the stakeholders later managed to resume fishery exports to China and increase exports through sea routes as well.
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  Myanmar Government formed a tribunal to probe contentious Chinese backed city development project near the Thai border in Karen State

  The Myanmar government has formed a tribunal to investigate irregularities surrounding a controversial China-backed city development project near the Thai border in Karen State. The planned mega resort and city expansion project is controlled by the Karen State Border Guard Force, a Myanmar military-backed armed group led by Colonel Chit Thu and formerly known as the Democratic Karen Buddhist Army (DKBA). The project is a collaboration between a Hong Kong-based company called Yatai International Holding Group (IHG) and Col. Chit Thu, officially dubbed the “Myanmar Yatai Shwe Kokko Special Economic Zone.” The project has sparked criticisms due to a lack of transparency, land confiscations, confusion over the scale of construction and the growing influx of Chinese money as well as suspected illicit activity and local concerns about the social impacts of casino businesses.
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  Investor interests to invest their investments in Yangon continue despite coronavirus pandemic

  The coronavirus pandemic does not appear to have diminished investor interest in Yangon, a senior regional official says. U Myo Khaing, secretary of Yangon Region Investment Committee said that since the coronavirus that causes COVID-19 was first detected in Myanmar in Mach, four businesses were given approval to invest some US$8 million in Yangon. “Workshops and factories in the region are now operating as normal and have not been severely affected by the out said U Myo Khaing.
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  More than 1.9 million broiler chicks permitted to import with 2 months in order to help meet the domestic needs

  In a bid to help meet the domestic needs, more than 1.9 million broiler chicks have been allowed for import between 15 May and 15 July, according to Myanmar Livestock Federation (MLF). Following the prevention measures to contain the spread of coronavirus, 40 per cent of broiler poultry businesses halted due to the decreasing demand, dropping the production of broiler chicken and hiking the chicken price.
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  International Finance Corporation (IFC) prescriptions for Myanmar economic recovery at its diagnostic report on private sector

  While the COVID-19 pandemic is still creating economic and trade disruption across the globe, Myanmar is slowly and cautiously opening up its economy in order to get back on the rails. The economic disruption across all sectors of the economy and society is palpable with the forecast of lower growth, closure of private sector units and increase in unemployment. Measures for protecting vulnerable population through increase in social protection spending, stimulating growth in demand, augmenting the supplies and promotional measures for private sector to resume production and business activities has been the essence of the COVID-19 economic recovery plan. There have been mixed reaction on this recovery plan, with some sections indicating its inadequacy and others identifying it as a spring board for accelerating reforms and recovery of the economy. It is in this context, IFC’s diagnostic report on private sector, ‘Creating Markets in Myanmar: Building Markets for Sustainable Economic Recovery’, provides crucial insights on what ails the private sector, its challenges, prospects and how government can provide a policy environment. This report takes a short term as well as medium term view on private sector growth in the country which has its complex history.
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  Yangon Region Investment Committee (YRIC) has approved three foreign projects and one domestic project worth K 1 billion that will create 656 jobs opportunities

  The Yangon Region Investment Committee, at a videoconference held on 10 June, has approved three foreign projects from China and Hong Kong, with an estimated capital of US$7.397 million and one domestic project worth K1 billion. The projects will create 656 jobs. They will invest in the manufacturing sector, 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.