Health and ICT

by EVENT

Title: Health and ICT- ICT Talk Online panel discussion

Date: 27 September 2020, 1:00PM- 3:00PM

Panelists:

  • Dr. Khin Khin Gyi (Director, Department of Public Health, Ministry of Health and Sports)
  • Dr. Htun Thura Thet ( Founder & CEO , Myanmar Information Technology Ptd Ltd.)
  • Dr. Tin Aung Kyaw ( Assistant Director , Yangon General Hospital)
  • Dr. Htet Zan Lin ( CEO , OnDoctor Company Limited)

Moderator: Ko Zayar Phyo ( Managing Director, Techno Visions)

Contact address: https://www.facebook.com/MCIA.Yangon/

Organizer: MICA-Yangon

Commerce ministry negotiates with Saudi Arabia for export potential, including fishery products

by ECONOMY

The Ministry of Commerce has called for export potential with Myanmar products to Saudi Arabia’s market. The ministry recently negotiated with Saudi Arabian ambassador to Myanmar concerning the items identified as export potential, including honey, fish, prawn, fishery products. At present, Saudi Arabia has received Myanmar’s answers to the queries they sent regarding the new regulations. Suppose the cold storages and processing companies are found to be in accordance with the fishery import standards of Saudi Arabia. In that case, Myanmar can resume exports of the fishery products to Saudi Arabia. Myanmar exports to Saudi Arabia accounted for 30 per cent of its farm-raised fish exports and 40 per cent of rohu exports and 60 per cent of river catfish. Earlier, Myanmar yearly earned estimated US$20-35 million from fishery products exports to Saudi Arabia.

Myanmar exports marine products, such as fish, prawns, and crabs, to markets in 40 countries, including China, Saudi Arabia, the US, Japan, Singapore, Thailand, and countries in the European Union. Additionally, the wild-caught fish are sent to the UK, Italy, France, Cyprus, the Netherlands, Sweden, Greece, Belgium, and Germany markets. Export earnings from the fisheries sector during the period between 1 October and 11 September in the 2019-2020 financial year reached US$810.99 million, an increase of $119.8 million from the year-ago period, according to statistics released by the Commerce Ministry. Myanmar’s fisheries sector is hit hard by the coronavirus fallouts and the Ministry of Commerce is endeavouring to explore more fish and seafood foreign market to effectively mitigate the impacts caused by the pandemic, Yangon Region Fisheries Department stated. The MFF is making concerted efforts to increase marine export earnings by developing fish farming lakes which meet international standards and adopting advanced fishing techniques.

Myanmar’s economy is more dependent on agricultural sector to a large extent. Also, fisheries sector contributes a lot to the national gross domestic product (GDP). Its fishery production including shrimps and saltwater and freshwater fish are far better than the regional countries. If the country can boost processing technology, it will contribute to the country’s economy and earn more income for those stakeholders in the supply chain.There are 480,000 acres of fish and prawn breeding farms across the country and more than 120 cold-storage facilities in Myanmar. Myanmar exported 340,000 tonnes of fishery products worth $530 million in the 2013-2014FY, 330,000 tonnes worth $480 million in the 2014-2015FY, 360,000 tonnes worth $500 million in the 2015-2016FY, 430,000 tonnes worth $600 million in the 2016-2017FY, 560,000 tonnes worth $700 million in the 2017-2018FY, and over 580,000 tonnes worth $728.257 million in the 2018-2019FY, according to the Commerce Ministry. 

Source: The Global New Light of Myanmar

9-thilawa

Thilawa SEZ has invested more than $ 1,360 million in 47 months, the largest in the manufacturing sector with over $ 1,170 million

by INVESTMENT

Thilawa SEZ has invested more than $ 1,360 million in 47 months, with the manufacturing sector accounting for more than $ 1,170 million, according to the Directorate of Investment and Company Administration. According to the SEZ law, Thilawa SEZ received $ 1,366.621 million in foreign investment in 47 months and $ 1,177.451 million in the manufacturing sector. More than $ 1.9 billion has been invested by 111 international companies in Thilawa SEZ, 18 of which are expanding their business, according to Myanmar Thilawa SEZ Holdings Pubilc Co., Ltd.

According to the Myanmar Investment Commission, a total of $ 116.557 million has been invested in the Thilawa SEZ under the SEZ law, including an increase in investment in the first 10 months of the current fiscal year. After COVID-19, there will be opportunities to attract more Japanese investment in addition to Japanese investment in Thilawa SEZ. In addition to Japanese investment in the Thilawa SEZ, there are potential opportunities for further international investment in the COVID-19 beyond. The activities of Myanmar Thilawa SEZ Holdings Public Co., Ltd. in the post-COVID-19 rehabilitation program in our country will play a key role in solving the post-COVID-19 challenges and problems.

113 companies from 18 countries are currently investing in the Thilawa SEZ, which could employ more than 10,000 workers. Thilawa SEZ is currently one of the best industrial zones in Myanmar and is in a position to enjoy the opportunities and benefits of increased productivity. Thilawa SEZ will continue to invite investors as a perfect industrial zone. The industrial zone sector will not be affected by the COVID-19 crisis, but revenue may fall temporarily in the second half of 2020, according to the 2019 Annual Report of Myanmar Thilawa SEZ Holdings Public Co. Ltd. The annual report and financial statements for this year are for the fiscal year 2019, which is from April to September 2019, for the six-month period instead of the regular 12-month period. The net profit for the current six-month period was 8.275 billion kyats, compared to 15.61 billion kyats in the previous 12 months.

Source: Daily Eleven

Myanmar trade volumes rise despite COVID-19

by TRADING

Myanmar’s foreign trade volumes have reached about US$34 billion as of August, a month before the closing of fiscal 2019-20 on September 30. The country registered higher trading activity despite COVID-19. Exports hit US$16.9 billion, while imports have exceed US$17.6 billion, resulting in a trade deficit of around US$1.5 billion for the fiscal year. In comparison, Myanmar recorded a trade of around US$950 million in fiscal 2018-19, with total trade volumes surpassing US$31.9 billion for the period.

The bulk of exports comprised of finished and manufactured goods, followed by agriculture produce and mined resources and minerals. Imports comprised of capital goods such as equipment, vehicles and machinery, as well as other raw materials and commodities. The country’s top trading countries are China, Thailand, Singapore, Japan, Malaysia, India, the US, Indonesia, Korea and Vietnam. The government received 28pc of total export revenues, while the remaining income was generated by the private sector. Private businesses also contributed to the bulk of total imports.

Border trade has taken a hit in recent weeks through. Trade at Tachileik, Shan State, the border town between Myanmar and Thailand, recently came to a standstill now that Thai authorities are allowing just six Myanmar vehicles to enter Mae Sai in Thailand. The move was announced and made effective by Thai authorities on September 17 as part of measures to prevent the spread of COVID-19. Trade between Myanmar and China has also faced disruptions after Ruili was placed under lockdown on September 15 following the detection of COVID-19 in the city. Ruili is the major border crossing between China and Myanmar near Muse in Shan State.

Source: Myanmar Times

Future of Career

by EVENT

Title: Future of career

Date: 25 September 2020, 8:00 PM

Speaker:

  • Daw Shwe Yee Win Lae ( Head of Human Resource, PTTEP)
  • U Nyan Toe ( Group HR Director, Max Myanmar Holding)
  • Daw Zin Mar ( Vice President of Sales, JobNet.com.mm)

Moderator: Dr. Aung Htun Thet ( Chairman, UNGC Network Myanmar)

Contact address: Myanmar B2B TV

Organizer: Myanmar B2B TV and Myanmar B2B Management Magazine

Border trade on hold as Myanmar, Thailand add restrictions

by TRADING

Trade at Tachileik, Shan State, the border town between Myanmar and Thailand, has come to a standstill now that Thai authorities are allowing just six vehicles with a Myanmar number plate to enter Mae Sai in Thailand. The move was announced and made effective by Thai authories on September 17 as part of measures to prevent the spread of COVID-19. Initially, the Thai authorities had said 168 trucks and one driver per vehicle will be allowed to cross the No.2 Friendship Bridge between the two countries. But as it will allow only six Myanmar cars to enter Mae Sai a day, traders from Myanmar are planning to do the same.

To reciprocate, they will allow only six vehicles from the Thai side to cross over to Myanmar. Tachileik authorities have also issued new restrictions and checks on Thai drivers at the border, such as requiring Thai vehicles to register and obtain approval from the Myanmar authorities before being permitted to trade in the country at a fixed date. Thai drivers are not allowed to enter Myanmar, hundreds of vehicles are now stranded on the Thai side since September 17. More than 200 small vehicles and more than 100 trucks are now stranded in Thailand. However, their side is facing difficulty as Thai exports to Myanmar are worth more than THB 1billion per month.

Although both sides had agreed in principle to implement COVID-19 restrictions simultaneously and only after negotiations, Thailand appears to have set unilateral rules which Myanmar has since reciprocated. While border trade was going smoothly, Thai side have started to break the agreement. Now, the Myanmar side is likely to ease the restrictions only when the Thais come and negotiate after relaxing their measures. An estimate of around 200 Toyota HiAce vehicles from Myanmar and more than 100 Thai trucks pass through the Mae Sai- Tarchileik boder trade gate on a daily basis.

Source: Myanmar Times

Upgrading ROK-Myanmar economic cooperation in post- COVID19 era

by ECONOMY

On September 16, the ministerial – level “Joint Commission on Cooperation in the field of Trade and Industries” was held in Nay Pyi Taw and Seoul respectively. Due to COVID-19, it was organised on-line. The Joint Commission was the first of its kind as a follow-up to the summit meeting in September 2019. President Moon Jae-In of the Republic of Korea (ROK) and Daw Aung San Suu Kyi, State Counsellor, signed the MOU on establishment of the Joint Commission with a view to elevating trade and investment to a new height. The Joint Commission was well-timed as this year marks the 45th anniversary of the diplomatic relationship between the ROK and Myanmar. The ROK government has been actively pursuing the New Southern Policy, its flagship diplomatic initiative, and in that context, looks to Myanmar as the last frontier market in the ASEAN region.

The leaders’ commitment to upgrading investment and enhancing people-to-people exchanges has shown specific outcomes. The two sides are working together to identify suitable projects, which will be borne by a newly established soft loan to the amount of US$ 1 billion. The Myanmar government has granted new working licenses to three Korean commercial banks, thus making Korea the country with the highest number with a total of four licensed banks in Myanmar. A new direct flight by Myanmar Airways International, launched in past December, is another welcome development. Korea-Myanmar Industrial Complex (KMIC) is expected to draw as many as 150 to 200 Korean companies once it is up and running. Korea is working with the Myanmar side on drawing blueprint for Dala new town.

At the Joint Commission meeting, both sides reaffirmed the importance of “Korea Desk”which will serve as a one-stop shop and gateway for new investors from Korea. Over the past few years, the horizon of Korean investment has considerably widened. The successful Joint Commission meeting was a small but significant step to make Korea’s commitment to working together with its time-honored friend, Myanmar, towards the visionary and inspiring message President Moon delivered during his state visit-“Korea will be a trustworthy partner in turning Myanmar’s dream of the miracle in the Ayeyarwady river into reality”.

Source: Myanmar Times

JICA Webinar- “SME Za Ga Wine: Boost your business in the era of COVID-19”

by EVENT

Title: Utilizing financial support measures available for SMEs

Date: 21 September 2020, 10:00 AM- 11:00 AM

Panelists:

  • U Aung Kyaw Myo ( General Secretary, Myanmar Banks Association)
  • U Lwin Oo ( General Manager, Myanma Insurance)
  • U Myo Myint ( Deputy Director, Directorate of Industrial Supervision and Inspection -DISI )
  • Daw Yi Mon Khin ( Founder, Yi Mon Silk & Textile Embroidery)

Contact address: https://zoom.us/webinar/register/WN_QGvyzi_HRDe1NG4EhiLZdA

Organizer: UMFCCI