ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Workers can make complaints unless employers comply with health regulations and guidelines on COVID – 19 issued by Ministry of Health and Sports

  Workers can make a complaint if they are forced to work during the mandatory inspection period of factories and workplaces, said an official of the Confederation of Trade Unions in Myanmar (CTUM). The factories and workplaces in the respective industrial zones across the country will undergo mandatory inspection between 20 and 30 April to resume their operations, in line with the regulations and guidelines on Covid-19 issued by the Ministry of Health and Sports, stated the Ministry of Labour, Immigration and Population in its announcement.
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  Myanmar Government is planning to build new port terminal with the financial assistance from Japanese Government

  The Ministry of Transportation and Communications (MOTC) is planning to build new port terminals with financial assistance from the Japanese Government, minister U Thant Sin Maung said. Myanmar has nine ports located in Yangon Region, Ayeyarwaddy Region, Mon State, Tanintharyi Region, and Rakhine State along the coast of the country. The Port of Yangon is the major port of the country and handles about 90 percent of the country’s exports and imports. The country’s ports handled around 890,000 twenty-foot equivalent units (TEU) in the fiscal year 2015-16. During the last fiscal year, Yangon ports had handled 1.2 million TEUs.
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  Directorate of Investment and Company Administration (DICA) acceptes visa extension of foreign staff and management experts

  DICA has accepted VISA extension of foreign staff and management experts that not later than five days prior to VISA expiry date.
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  Myanmar Edible Oil Dealer’s Association (MEODA) will provide online service for cooking oil export and import licences during COVID – 19 crisis

  Myanmar Edible Oil Dealers’ Association (MEODA) will provide online service while seeking the association’s approval to apply for export and import licence during the Covid-19 crisis. This move aims to prevent person-to-person contact and slow the spread of the virus. Regarding the online service, the documents must be sent to meoda.2011@gmail.com and office Viber (959 444437295) in pdf or jpeg format. The fund can be paid to the association’s fund account (KBZ- 005-304-00501821101, AGD- 3040202000034019). The association has urged the public not to make panic buying to maintain the stability of the cooking oil market.
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  Myanmar’s economy is still forecast to grow despite the spread of COVID – 19 in Myanmar

  Myanmar is among just 10 percent of the globe projected by the International Monetary Fund to post economic growth this year. The rest of the world is expected to slip into recession. The forecast comes despite the spread of COVID-19 in Myanmar, which has already resulted in the closing of its borders, worsening conflict in Rakhine State, a collapse in tourism and dimmer prospects of mass investment from Europe and America. Still, growth is forecast to slow considerably. In its April World Economic Outlook, the IMF slashed Myanmar’s 2020 growth forecast to 1.8pc from 6.4pc. This would be Myanmar’s slowest growth rate since the junta handed over power to U Thein Sein’s quasi-civilian government in 2011. The economy has already been hurt by the crisis, with the number of factories having shut down in Myanmar estimated to be around 40 and nearly 17,000 workers laid off or furloughed.
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  Myanmar hotel and tourism businesses will be get one year exemption on licence fees

  Myanmar hotel and tour businesses will be exempted from paying licence fees for a period of one year as the sector continues to struggle against the COVID-19 pandemic, the hotel ministry said on April 16. The fees for applying for a new license or renewals, which include a hotel business fee, tour agencies fee, tour guide fee and hostel fee, will be exempted from April 1, 2020, until March 31, 2021, the statement from the Ministry of Hotel and Tourism said.
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  Myanmar’s mineral exports increased USD $ 537.8 million over the first half of 2019 – 2020 financial year when compared to the same period of last financial year

  Myanmar’s mineral exports have shown a marked increase this fiscal, touching US$1.13 billion between 1 October and 3 April, an increase of $537.8 million compared with the year-ago period, according to the data from the Ministry of Commerce. In the corresponding period of the previous financial year, mineral exports were pegged at just $596.27 million. Both private and public sector mineral exports have recorded an increase in the current fiscal, with private sector exports valued at $679.24 million and public sector exports estimated at $454.87 million. So far, excavation of over 1,250 mining blocks has been permitted on a manageable, small, medium, and large scale, according to the Ministry of Natural Resources and Environmental Conservation.
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  Thailand’s Kasikorn Bank is planning to expand digital presence in Myanmar’s retail market

  Thailand’s Kasikornbank is planning to expand into Myanmar’s retail market with a focus on digital services. The Central Bank of Myanmar on April 9 approved the Thai bank’s acquisition of a 35 percent stake in Ayeyarwaddy Farmers Development Bank (A Bank), making it the first foreign commercial bank to take a stake in a local lender. A Bank is the second Myanmar bank to welcome foreign shareholders. Kasikornbank said in a statement it would acquire its stake in A Bank through its Kasikorn Vision subsidiary, which has a budget of K690 billion ($428 million) for overseas commercial opportunities. That stake has been reported to be worth $40 million. Pattarapong Kanhasuwan, Kasikornbank executive vice president, said that the Thai bank is keen to expand into a digital bank in Myanmar and the region through an “asset-light and digital expansion strategy”.
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  The total trade value at 18 border trade camps up by USD $ 360 million as of 3rd April of this financial year despite export sector drop by USD $ 99 million

  The total trade value at 18 border trade camps has risen by US$360 million as of 3rd April of this fiscal year despite the export sector drop by $99 million, according to the Ministry of Commerce. From 1 October to 3 April of 2019-2020FY, the total border trade value has amounted to $5.73 billion, an increase of $360 million compared with the same period last year. The total border trade value as of 3 April this FY included $3.78 billion in export and $1.94 billion in import. Compared with the last FY, the export earnings dropped by $99 million while the import value increased by $459 million. This time last year, the border trade was valued at $5.37 billion.
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  Myanmar’s manufacturing conditions deteriorated in March due to the coronavirus outbreak impacted output

  Manufacturers in Myanmar experienced their worst month on record in March as the worldwide coronavirus outbreak impacted output, demand and purchasing, according to Purchasing Managers’ Index (PMI) survey data from a London-based information provider IHS Markit. IHS Markit released its latest report on Myanmar’s Manufacturing PMI on April 1. The headline IHS Markit’s Myanmar Manufacturing PMI is a composite single-figure indicator of manufacturing performance. It is derived from indicators for new orders, output, employment, suppliers’ delivery times and stocks of purchases. Any figure greater than 50 indicates overall improvement of the sector. Myanmar PMI fell to 45.3, the lowest since survey began in December 2015, indicating contractions in output, new orders and inventories. Suppliers’ delivery times were also the longest on record.