ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Myanmar’s border trade with neighbouring countries reached about USD $ 2.4 billion as of December 20 in the present fiscal year 2019 – 2020

  Myanmar’s border trade with neighbouring countries reached about 2.4 billion USD as of December 20 in present fiscal year 2019-2020 which started from October 1, Vietnamplus reported. According to the latest figures released by the Myanmar Commerce Ministry, the country earned 1.68 billion USD from the export to foreign countries through border gates in the reviewed period while its border import reached 720 million USD. This fiscal year’s border trade increased over 615.9 million USD, compared to the same period of last fiscal year 2018-2019.
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  South Korea’s MCM Power Company will invest over USD $ 35 million on power generation and distribution project in Bago

  South Korea’s MCM Power Company will invest over US$35 million on a power generation and distribution project in Pyay township, Bago, according to U Thant Sin Lwin, Director-General of the Directorate of Investment and Company Administration (DICA). The gas-powered project is expected to generate 40MW of electricity. Interest in the Myanmar power sector from Hong Kong, Singapore and China-based firms has risen and more are expected to channel funds into boosting the power sector, U Thant Sin Lwin said. In early December, Hong Kong-listed CNTIC VPower Company was permitted to invest half a billion dollars to execute similar power projects in Thaketa, Yangon and Kyaukphyu, Rakhine, according to DICA.
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  Myanmar’s natural gas exports up USD $ 150 million in two months when compared to the same period of last fiscal year

  Myanmar’s exports of natural gas over the past two months of the current financial year amounted to US$579 million, an increase of about $150 million compared with the corresponding period of the 2018-2019 fiscal, according to the Commerce Ministry. In the year-ago period, the country exported natural gas worth about $430 million. The increase in the value of exports is linked to the rise in the price of natural gas in the global markets, according to an expert. Natural gas is included in the list of major export items of Myanmar. Over 20 per cent of the country’s total export earnings come from the sale of natural gas.
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  Chin State Government invited Expression of Internet (EOIs) for the development of shopping mall and motel on four acres of land near Hakha City’s Myo Thit Quarter in Chin State

  The Chin State government is inviting submission of Expressions of Interest (EOIs) for the development of a shopping mall and motel on four acres of land near Hakha City’s Myo Thit Quarter. The project will be implemented under build-operate-transfer (BOT) scheme, according to U Vani Liang, head of the Chin State Municipal Committee’s engineering department, “We will choose the proposal which offers the lowest cost with a short construction time by local investors,” said the official. The EOI application period is November 29 – December 30. The bidding date will be announced thereafter.
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  Thailand approved a preferential loan worth 777 million THB under 30 year contract for infrastructure development in Myawaddy city in Myanmar

  The Thai Cabinet has approved a preferential loan worth 777 million THB (over 25.76 million USD) under a 30-year contract for Myanmar for infrastructure development in Myawaddy city, vietnamplus reported. Government deputy spokeswoman Ratchada Thanadirek said the Cabinet meeting on December 24 endorsed a proposal for the Neighbouring Countries Economic Development Cooperation Agency (NEDA) to provide financial assistance for Myanmar to fund the third phase of the Greater Mekong Sub-region development project for Myawaddy.
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  The growth potential in agriculture restricted by poor access to finance, technology, limited infrastructure, complex land tenure and quality issues

  In Myanmar, agriculture contributes to a third of the country’s GDP, a quarter of its exports and creates the bulk of job opportunities. Yet, the sector’s true potential remains restricted by poor access to finance and technology, limited infrastructure, complex land tenure and quality issues as well as weak supply chains. Nevertheless, demand for products of higher and safer quality has been on the rise domestically and the agriculture sector must take advantage of the expertise international companies can offer in this regard, Aung Thu, Union Minister of Agriculture, Livestock and Irrigation, said at the Agrobusiness Forum 2019 organised by EuroCham Myanmar recently. U Aung Thu said Myanmar welcomes international support in adhering to the Good Agricultural Practices and demonstrating that farmers can remain or become even more profitable by improving the quality of their crops.
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  Yangon Region Investment Committee (YRIC) approved Hong Kong and China firms to invest in the region

  Companies from Hong Kong and China are allowed to make investments worth over US$17.47 million in businesses that produce shoes, bags, hand gloves, different kinds of toys and FFC cables for the telecommunication sector under the CMP system, according to Yangon Region Investment Committee (YRIC). The committee approved the endorsement at 20/2019 of the YRIC meeting. Colorado Outdoor Gear (Myanmar) Limited from Hong Kong invested US$1.16 million to produce bags under CMP system in Myaseinyaung Industrial Zone in Hlaing Thayar Township and Sunny Arts & Crafts Company Limited from China invested US$1.2 million worth of investment to produce toys under CMP system in Myaseinyaung Industrial Zone in Hlaing Thayar Township.
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  Myanmar traders are striving for the finalizing a contract with the Public Warehouse Organization in Thailand to export the corn in various grades to Thailand

  Traders are discussing plans for Myanmar to export one million tonnes of corn seeds to Thailand. An agreement between the two countries is expected before year-end, said U Min Khaing, chair of the Myanmar Corn Industrial Association. “We are in the process of finalizing a contract with the Public Warehouse Organization in Thailand to export the corn in various grades,” he said. Discussions began in November and the current corn price is between K460 and K480 per viss.
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  Myanmar Government deployed Navy to fight against illegal trade those are coming into the country through the sea

  Vice President U Myint Swe said that the government will ask the Navy to help in the fight against illegal trade coming into the country through the sea. Illicit trade is undermining both foreign investments and small and medium enterprises in Myanmar, which is ranked 82nd out of 84 countries on the Global Illicit Trade Environment Index 2018. “Since we have not formed a marine task force for fighting illegal trade, we will ask the Navy for help to effectively fight it,” said the vice president at a monthly meeting with local business leaders. “We will focus on the entrance points in Yangon and Ayeyarwady regions.” Since it came into power, the government has formed special task forces in border areas, but these have not been enough to stem the tide of illicit trade. Government efforts have been undermined by the fact that it does not have full control of border areas, some of which are under the control of armed ethnic groups.
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  Emerging Markets Myanmar (EME- Myanmar) has invested in an e-commerce startup for rural retailers

  Emerging Markets Myanmar (EME-Myanmar), a Yangon-based investment firm, has invested in an e-commerce start-up for rural retailers. A six-digit sum was invested but the exact amount was not disclosed. Ezay, founded by former Oway employee Ko Kyaw Min Swe in August, is a start-up which will provide a mobile platform for customers to purchase new stock from wholesalers as well as arrange for delivery of items online. This eliminates the need for retailers to physically travel to shops. “[Restocking] is a real burden and is common across Myanmar; often the husband will go to the wholesaler but must take time off work to do so… we saw an opportunity to address this issue and connect wholesalers and retailers through a mobile platform - providing delivery to make life easier for retailers,” said Ko Kyaw Min Swe, founder of Ezay.