ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Yangon’s New City development project initiates ‘Swiss challenge’

  The Yangon government has launched a “Swiss challenge” tender for Yangon New City’s first-stage infrastructure projects, following Chinese President Xi Jinping’s visit to Myanmar. Yangon Mayor U Maung Maung Soe and Song Hailiang, president of state-owned China Communications Construction Co (CCCC) signed a Letter of Intent for the New Urban Development of Yangon City on January 18, during the Chinese leader’s visit. The YCDC has submitted the Pre-Project Documents for six Stage 1 infrastructure workstreams for approval to the Union Government level. After an approval is received, YCDC will launch the Swiss challenge tender, said NYDC CEO Serge Pun in an announcement.
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  Hong Kong based company will generate and sell power to consumers locally after building power plants in Kyaukphyu

  A Hong Kong-based company, which is among the top investors in the electricity sector in Myanmar in the current financial year, will generate and sell power to consumers locally after building power plant in Kyaukpyu, said U Thant Sin Lwin, Director-General of the Directorate of Investment and Company Administration (DICA). “This company is a Hong Kong-based company operating with 100-per cent foreign direct investment, and it is supplying electricity in Myanmar,” said U Thant Sin Lwin. Hong Kong-listed CNTIC Vpower KY3 Limited Company will invest US$140.47 million for the generation of 150MW of electricity from LNG. It will supply and sell electricity on an IPP (BOT) basis in Kyaukphyu Township of Rakhine State. The project will generate 658.8 million kilowatt-hours of power which would be supplied and sold to consumers locally, he added.
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  In collaboration with Indian Government, Myanmar government plans to open Technical High School (THS) in Monyawa Township, Sagaing Region

  MONYWA-In collaboration with the Indian Government and the Ministry of Planning, Finance and Industry, plans are underway to open a Technical High School (THS) at the building of No.6 Garment Factory(Branch) near Ywatone village in Monywa Township, Sagaing Region. The school is one of the Garment factories (branch) in Sarlingyi Township under former N0.3 Heavy Industries. A building of No.6 Garment Factory (Branch) is to be turned into the Technical High School. The Indian government sent machines, equipments and learning devices to Myanmar since May, 2019. Moreover, the government had sent the teachers who will serve at the school to India by dividing three batches.
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  Myanmar Investment Commission (MIC) approved four foreign investment permits which amounted to over USD $ 310 million with 10,102 job opportunities

  Myanmar Investment Commission (MIC) approved four foreign investment permits and 17 endorsement process in this week, which amounted to over US$ 310 million with 10,102 job opportunities, state media reported. The announcement came at the MIC’s meeting 1/2020 yesterday at the office of Directorate of Investment and Company Administration in Yangon. The period from October 1 to 10 January of this 2019-2020 financial year has allowed foreign investment amounted to US $ 1,546.94 mln and Myanmar citizen Investment amounted to Kyat 716,451.284 mln including US $ 128.400 mln.
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  Chinese investors invested worth USD $ 20.9 billion in aviation, communication and garments sectors in Myanmar businesses

  YANGON- Although China had invested in Myanmar businesses such as energy, construction and transport sectors, they’ve also made investments worth USD20.9 billion in aviation, communications and garment industries, says Commercial Attaché Tan Shufu from Chinese Embassy. He said that business and trade cooperation between Myanmar and China largely stem from mutual interest. China had mostly stood top in the list of Myanmar’s trade partner list and China was the biggest trade market for Myanmar. In 2018-19 fiscal year, Myanmar-China trade volume was US$11.36 billion. Myanmar had allowed China to invest in Myanmar businesses worth US$20.9 billion until December last year. They were investing in aviation, communications, agriculture, finance, tourism and garment sectors. They had also supported the Myanmar in improving their living standards.
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  Ministry of Planning, Finance and Industry seeks the expression of interest from both domestics and foreign investors to interest in participating in state-owned steel mill

  The Ministry of Planning, Finance, and Industry is seeking expressions of interest from both domestic and foreign investors interested in participating in the recommissioning of the Myingyan Steel Mill. The steel mill, located near Sar Khar village, Myingyan Township in Mandalay Region, is reported to have a production capacity of 1.8 million tonnes a year. Besides the Myingyan mill, the government also owns another mill in Pangpet Now, the state-owned entity No. 1 Heavy Industrial Enterprise, which operates the Myingyan mill, is seeking investors to participate in the running of the mill. No. 1 Heavy Industrial Enterprise is under the control of the Ministry of Planning, Finance, and Industry.
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  Japan’s NEC Corp will implement an airport surveillance radar system at international airports in Myanmar in order to improve the safety and efficiency of Myanmar’s air traffic control services

  Japan’s NEC Corp. will implement an airport surveillance radar system at Yangon, Naypyidaw and Mandalay international airports under a 2.3-billion-yen agreement with the Department of Civil Aviation (DCA) to improve the safety and efficiency of Myanmar’s air traffic control services. NEC Corp. will build the system using JICA’s official development assistance to Myanmar. Scheduled for completion by the end of 2021, the system consists of an Airport Surveillance Radar (ASR) for detecting the distance and bearing of aircraft, Secondary Surveillance Radar (SSR) for gathering operational information from aircraft and a Multi-Sensor Data Processing System (MSDPS).
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  Singapore investors explored investments opportunities in Myanmar construction sector

  Over the years, the Myanmar government has stepped up its efforts to bring in foreign direct investment (FDI) to the country. Being more pro-business and open to FDI, potential opportunities for foreign companies willing to invest in Myanmar are vast, particularly in the construction industry as one of the main pillars of the economy. YCP Solidiance, an Asia-focused strategic advisory firm, recently hosted a week-long Overseas Market Workshop (OMW) visit for the Singapore Business Federation (SBF), with the aim of helping Singaporean companies in Yangon explore investments in Myanmar’s construction sector. The workshop also coincided with the visit of Singapore’s Minister of Trade & Industry Chan Chun Sing in Yangon, highlighting the importance of greater collaboration between the two countries following the recent signing of the Singapore-Myanmar Bilateral Investment Treaty .
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  The 11th coordination meeting of the Private Sector Development Committee (PSDC) was held in Nay Pyi Taw

  Chairman of the Private Sector Development Committee, Vice President U Myint Swe delivered an address at the 11th coordination meeting of the Private Sector Development Committee (PSDC) held at the Ministry of Commerce in Nay Pyi Taw on Wednesday. In addressing the meeting the Vice President said that the Private Sector Development Committee (PSDC) had been formed with 20 members by Notification No. 79/2016 dated 24 October 2016 of the Office of the President to accomplish five main tasks. Five work committees led by 3 deputy ministers and 2 permanent secretaries had been formed to implement the Committee’s main tasks. The first meeting of the PSDC was held on 28 November 2016. Four meetings were held in 2017, three meetings in 2018 and two in 2019 and this is the first one held in 2020. From the first to the 10th meeting 87 decisions were made out of which 79 were implemented while 8 were still being implemented. Relevant departments and organizations were urged to cooperate and work together towards completing the remaining 8 decisions by setting up a time frame.
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  Mandalay Region draws totaling USD $ 4 billion in foreign direct investment (FDI)

  The Mandalay Region Investment Committee has endorsed 79 foreign projects from more than 16 countries since its establishment up until December, 2019, drawing almost US$4 billion in foreign direct investments (FDI), U Thant Sin Lwin, Director-General of the Directorate of Investment and Company Administration (DICA) told state media. The investments flowed mostly into manufacturing, power, and services sectors. Meanwhile, a total of 179 domestic projects were endorsed, drawing some K5.3 trillion into infrastructure, manufacturing and services.