ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  The border trade value between Myanmar and Thailand reached nearly USD $ 623.84 million from 1 October to 6 December 2019

  The value of border trade between Myanmar and Thailand has reached nearly US$623.84 million, with the Hteekhee border trade gate accounting for the largest volume of trade, according to the weekly statistical report of the Ministry of Commerce, state media reported. Myanmar-Thailand border trade totalled $623.8 million between 1 October 2019 and 6 December 2019, which included $414 million in exports and $209.8 million in imports. These figures declined by $27.52 million, compared to the same period last year.
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  Myanmar Investment Commission (MIC) approved three investment projects in power and real estate sectors in Myanmar

  The Myanmar Investment Commission-MIC approved three projects yesterday in the power sector and Real estate sector, amounted to over US$ 50 million and over K1.9 billion. The projects will create 94 job opportunities for Myanmar citizens. The approval came at the meeting 20/2019 of the Myanmar Investment Commission-MIC in Yangon yesterday. U Thaung Tun, Chairman of the MIC and (9) members attended the meeting. By the end of October 2019, the countries with the largest investment in Myanmar were Singapore, People’s Republic of China and Thailand.
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  The additional 1,000 MW of power for the country will be generated by the middle of next year

  Ministry of Electricity and Energy (MOEE) estimates that another 1000 MW of power for the country will be generated by the middle of next year. This was announced during a ceremony attended by President U Win Myint to mark the achievement of 50 percent nationwide electrification on December 13. Nationwide electrification stood at only 34 percent in 2016 when the NLD government came to power. Since then, the reformation of the Ministry of Electricity and Energy and a focus on increasing electricity generation through hydropower, natural gas, and solar power, and expanding distribution has paid off, U Win Myint during his speech at the event. As of this month, electrification has reached 50 percent of the nation and some 350 towns and over 16,000 villages are linked to the national grid, he said.
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  European Union (EU) is preparing to revoke the Generalised System of Preferences (GSP) status granted to Myanmar

  The European Union (EU) may be preparing to revoke the Generalised System of Preferences (GSP) status granted to Myanmar, according to U Zaw Min Win, chair of Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI). U Zaw Min Win said he was informed of the developments but did not know the extent of pressure for it. He was speaking during a meeting with Vice President U Myint Swe earlier this week. The EU began considering a withdrawal of the GSP, granted to Myanmar in 2013, after an outbreak of violence against Muslims in Rakhine at the end of 2018. These privileges grant Myanmar duty-free trade with the EU, which mainly consists of garments. Subsequently, a GSP study team from the EU also visited Myanmar and met with business persons and labour organisations.
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  AIA set the partnership with AYA Financial Group and Max Myanmar Group (AFG Max) for life insurance project in Myanmar

  AIA will partner with local firms AYA Financial Group and Max Myanmar Group (AFG Max) to set up a life insurance project in Myanmar, according to insurancebusinessmag.com. The new venture will leverage AFG Max’s extensive retail customer and business partner networks to offer life and health insurance to the newly opened-up market. AIA is one of five international insurers recently awarded licences by the Ministry of Planning, Finance and Industry to operate a wholly owned subsidiary in the country.
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  Myanmar’s onion exporting to Bangladesh from Maungdaw border trade declined and exported more than 1,000 tons in November 2019

  Myanmar is exporting more onion to Bangladesh from Maungdaw border trade though onion prices in Bangladesh are declined and more than 1,000 tons of onions were exported in November, according to office of director of the Maungdaw border trade. Myanmar exported over US$1.1 million worth of 1,074 tons of onions to Bangladesh during November and it is one of the products which exported most. Although Myanmar exported up to 1,175 tons of onions worth over US$690,000 to Bangladesh in October, the export amount in November is reduced to about 100 tons in compared with the export amount in October as market price of onion from Myanmar in Bangladesh is declined.
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  Shan State government emphasized on developing agriculture over tourism as it has huge potential to become an agricultural powerhouse in Myanmar and the region

  It’s common to see roads in Shan State full of trucks loaded with vegetables. The state produces 60 percent of all vegetables consumed within the country. Some of the crops are even exported to neighbouring countries. The state government now says that it is making moves to place more emphasis on developing agriculture over tourism as Shan has the potential to become an agricultural powerhouse in Myanmar and the region. “Agriculture is one of the main resources of the state, which has plenty of land and climate that is suitable for various crops. Produce from Shan is sought after in both domestic and overseas markets. All this means there is a lot of potential for investors to explore in Shan’s agriculture sector,” Shan State Minister for Planning and Finance U Soe Nyunt Lwin.
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  The Foreign Direct Investment (FDI) inflows into Myanmar surged in current fiscal year

  The Myanmar Investment Commission (MIC) approved41 foreign investment projects worth over US$ 1.3 billion from 1 October to 30Novemberthis year, an increase of more than US$ 900 million when compared to the same period last year, according to the figures from the Directorate of Investment and Company Administration under the Ministry of Investment and Foreign Economic Relations. The permitted foreign investment projects are expected to create up to 20,000 job opportunities for Myanmar citizens.“The foreign investment projects approved by the MIC from 1 October to 30 November this year under the Special Economic Zone Law reached US$ 1377.426 million, said U Thant Sin Lwin, Director-General of the Directorate of Investment and Company Administration (DICA). The MIC gave the green light to 34 foreign investment projects valued at more than US$ 465 million during the same period in the fiscal year 2018-2019. The increase in foreign direct investment into Myanmar attributes to massive influx of foreign investment into the Southeast Asian country, the Director-General added.“Company registration system in Myanmar has improved as compared to previously introduced scheme.
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  Hong Kong based company V Power set its investment worth USD $ 500 million in power generation and distribution in Rakhine State and Yangon Region

  Hong Kong-based V-Power is set to invest $500 million in power generation and distribution in Kyauk Phyu Township, Rakhine State and Thaketa Township, Yangon Region. “Their proposal says they will build a power plant as soon as possible, but they have yet to provide a time frame,” said U Thant Sin Lwin, Deputy Director General of the Directorate of Investment and Company Administration (DICA). The proposed projects include the construction of a $363 million, 400-megawatt power plant by NTIC V Power YG1 Limited and a $140 million, 150-megawatt plant by CNTIC V Power KY3 Limited. Both companies are subsidiaries of V Power Group Holding Limited.
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  Asian Development Bank (ADB) and EU granted USD $ 26 million technical assistance to improve local education in Myanmar

  The Asian Development Bank (ADB) and the European Union (EU) have announced that they are preparing a US$26 million technical assistance grant to support reforms that will improve the quality and relevance of secondary education and technical and vocational education and training (TVET) programmes in Myanmar. The grant will complement ADB’s ongoing support for Myanmar’s education sector, which includes the Equipping Youth for Employment (EYE) Project approved in 2016 to strengthen the country’s education, while promoting inclusive growth and job creation. The project is focusing on improving the country’s secondary education curriculum and teaching quality to help equip graduates with the necessary knowledge and skills demanded by the emerging job market.