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December 11, 2018
Issue 11 is available now!

NEWS
ECONOMY

More foreign investments expected in Ayeyarwady

Image result for Ayeyarwady region investmentInvestors eyeing expansion opportunities in Myanmar might want to consider Ayeyarwady Region, where the government is now prioritising developments in the agriculture, livestock and marine, forestry, industry, infrastructure, transportation and tourism sectors, said regional chief minister U Hla Myo Aung.

The west coast of Ayeyardwady is also linked to the China-Myanmar Economic Corridor and Greater-Mekhong Subregion Project.

When complete, there will be opportunities for foreign investors to contribute to developing infrastructure such as sea ports, heavy industrial zones, factories, power transmission lines, highways and railways along the west coast, said U Htay Win, regional planning and finance minister of Ayeyawady Region.

Source: Myanmar Times

Yangon International Automobile Exhibition 2019 will be held in Yangon Convention Center

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Yangon International Automobile Exhibition 2019 to be held under the title “Navigating the Automotive Industry of Tomorrow” in Yangon Convention Center (YCC) from 23 to 27 January 2019.

The exhibition would be jointly organized by Grand Prix International Public Company Limited (GPI Myanmar Company Limited) based in Thailand and Automotive Association of Myanmar-AAM.

BMW, Mercedes-Benz, Volvo, Toyota, Suzuki, Nissan, Honda, Ford, Chevrolet, Hyundai, KIA, Jaguar, Land Rover and DFM such as 20 international automobile companies will be displayed in the exhibition. The exhibition has also offered test driving for visitors and opportunities to explore future vehicle technology.

Source: The Global New Light of Myanmar

Ayeyarwady Region Investment Fair held in Ngwe Saung Beach

Image result for Ayeyarwady Region Investment Fair held in Ngwe Saung beachAyeyarwady Region Investment Fair was held in Ngwe Saung Beach. Ayeyawady Region Investment Fair, a study tour of Ayeyawady Region, led by Ayeyawady Region Chief Minister U Hla Moe Aung, officials from the Myanmar Investment Commission (MIC) with JICA and JETRO, and local and foreign business persons, visited MIC permitted hotels and resorts, housing projects, and the Yuzana prawn and fish breeding ponds near Ngwesaung.

Later, the study tour visited projects carried out in Pathein Industry Park and Mya Kyun Tha Housing project.

The investment fair is being conducted with an aim for local and foreign businesses to understand the resources available and projects being conducted in the Ayeyawady Region and, ultimately, to attract more investment.

Source: Global New Light of Myanmar

Over 30 businesses return their permits to MIC in 2017-18 FY

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In 2017-2018 fiscal year, there is a shutdown of 32 businesses worth Ks 826050.434 million across the country, with Yangon Region topping the list, according to the Myanmar Investment Commission’s (MIC) report for 2017-2018 FY.

A total of 32 businesses returned their licenses to the MIC—two in the transportation sector, 12 in the industry sector, eight in the construction sector, three in the hotels and tourism sector, three in livestock and fishery sector, two in housing development sector, one in the service sector and one in the industrial zone development sector.

Due to the insufficient power supply, higher transportation costs, a shortage of skilled workers and the difficulties in the availability of land space for long-term investments, there was a hindrance to the inflow of foreign investments in 2017-2018 FY.

Source: Eleven Myanmar

Asian investors eye manufacturing and infrastructure projects

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Investors from Japan, China, Korea, Thailand and Hong Kong are becoming interested in the manufacturing and infrastructure projects in Myanmar, said Zaw Min Win, President of Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI).

In addition, some European countries have also pitched further investments in Myanmar, mainly in the education sector.

Until October 2018, China invested over US$ 20 billion, Japan, over US$ one billion, Hong Kong, about US$ 790 million and Thailand, over US$ 11 billion, according to Directorate of Investment and Company Administration. A total of 49 countries have invested in Myanmar. China has topped the list of foreign investments, followed by Singapore.

Source: Eleven Myanmar

New ministry, ‘single window’ system to help investors do business

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Myanmar is tuning up efforts to draw investments into the country. The establishment of the new Ministry of Investment and Foreign Economic Relations was approved, paving the way for better coordination between related ministries and organisations on local and foreign investments and development projects implemented with foreign aid or loans in parliament.

The newly formed Ministry of Investment and Foreign Economic Relations has been given the mandate of raising local and foreign investments and creating opportunities for entrepreneurs. It will be took the helm by U Thaung Tun, who is also chair of the Myanmar Investment Commission (MIC) and National Security Adviser.

Under the single-window system, the ministry will make the necessary decisions based on a list of standard operating procedures agreed on by all the relevant ministries.

Source: Myanmar Times

Jade sales hit over K48 billion

Related imageThe sales of jade stones reached K48298.49 million at the jade sale festival that took place at Maniyadana Jade Hall in Nay Pyi Taw, according to a statement by the Gem and Jade Sale Working Committee.

A total of 489 shops and 1,493 local gem merchants participated in the show, according to the statement.

The jade sale hit Ks22217.74 million in December, 2012, Ks 77839.63 million in January, 2014, Ks 128763.74 million in October, 2014, Ks 80841.85 million in December, 2015 and Ks 61915.21 million in March, 2017.

Source: Eleven Myanmar

Myanmar to export farm fish, prawns to EU countries as of December

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Myanmar has been allowed to export farm fish and prawns to European Union countries beginning from December this year, according to the Ministry of Agriculture, Livestock and Irrigation.

Under the EU permission, 13 factories in Myanmar can export farm fish, prawns and soft crabs on December.

In Myanmar 21 processing factories were first allowed to export naturally caught fish and prawns to EU countries in 2010. But farm fish and prawn were not allowed because there was no guarantee that they are free from bio residues.

About 30 percent of Myanmar’s farm fish was exported to Saudi Arabia, which later suspended it, according to Myanmar Fisheries Federation.

Source: Eleven Myanmar

JJ Express and G&G Convenience Store will sign an agreement

Image result for g&g convenience storeEconomically collaboration between JJ Express and G&G Convenience Store will begin after signing an business agreement.

E-ticket of currently running operation of JJ Express could be bought in every outlets of G&G Convenience Stores in Yangon.

Collaboration between these two businesses starting since May,2018. JJ Express E-tickets can be bought 230 outlets of Yangon in the meantime but these will be available around the outlets of whole country soon.

Source: Daily Eleven

Singapore firm to mill rice in Nay Pyi Taw

Image result for mill riceGolden Sunland Food & Beverage Co, a producer of high-quality rice in Singapore, has started the construction of a rice mill in Nay Pyi Taw with plans to produce 50,000 tonnes a year.

Golden Sunland will grow shwe war win hybrid rice, a crossbreed with shwe war tun rice, in partnership with local farmers on 6100 hectares a year.

In a statement on its social network page, Golden Sunland Co said the rice mill will have an annual capacity of 50,000 tonnes of rice and it plans to invest US$5 million (K8 billion) in the project.

Source: Myanmar Times

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