JICA surveys infrastructure needs for Dawei SEZ

YANGON- A team led by the Japan International Cooperation Agency (JICA) is making a survey on the implementation of basic infrastructure, such as a deep sea port and electricity supply, in Dawei Special Economic Zone (SEZ), Taninthayi Region.
This is according to Dr Tun Naing, Deputy Minister of Electricity and Energy, who is also chairman of Dawei SEZ Management Committee.
JICA will be drawing up a report on project development in the SEZ to a June deadline.

Tourist arrivals jumped by 18 per cent last year

Last year, the tourism sector saw an 18-per-cent increase in tourist arrivals compared with the same period in 2016, said Myo Win Nyunt, director of the Department of Hotels and Tourism.
The country saw 3.44 million tourist arrivals last year, a bit below the predicted 3.5 million.

Actual FDI hits $3.7 billion this FY, says MIC

The actual inflow of foreign direct investments amounted to US$3.7 billion during this fiscal year even though Myanmar Investment Commission has granted US$5 billion. 
The MIC releases the FDI lists every month and has issued the actual inflow of FDI twice during 2017-2018 fiscal year. 

Yangon chief minister underscores systematic management of industrial zones

Yangon Region Chief Minister Phyo Min Thein has stressed the need to systematically manage the industrial zones where warehouses and vacant land plots are subject to market speculation as an industrial supervision committee has been formed with regional ministers.

The establishment of the supervision committee under the leadership of the ministers comes after management committees formed in respective industrial zones were found to have lacked managerial authority.

Hoarding drives pea prices up


Prices of pigeon peas have risen thanks to hoarders, according to merchants.

Indian buyers have also been purchasing peas at the Pakokku wholesale market in Magway Region.

Prices per bushel of the old harvest of pigeon peas rose from Ks11,500 to Ks12,500 and the new harvest from Ks9,000 to Ks10,500.

However, the rise in demand and prices apparently does not mean better returns for farmers because of the high production costs.

Index Creative Village to go digital in Myanmar expansion


CHANGES IN the behaviour of people in Myanmar have driven Index Creative Village Plc to shift its focus from offline to online in a bid to expand its business in the neighbouring country.

Kreingkrai Kanjanapokin, founder and group CEO of Index, said in an exclusive interview that the firm would focus on its new lines of business - digital marketing and communications, in Myanmar this year.

Time to push for infrastructure development, forum hears


SINCE MYANMAR’S lack of adequate infrastructure may deter potential investors, the government must urgently bring infrastructure development into focus, according to the recent Myanmar Infrastructure Forum.

The government’s clear decisions would drive the future of Myanmar, said Teo Eng Cheong, CEO International of Singapore, North Asia and Southeast Asia at Surbana Jurong Private Limited (SJ), which organised the event.

Fuel imports valued at over $2 billion in 10 months of this fiscal year

Myanmar imported fuels worth US$2.3 billion within 10 months of this fiscal year exceeding over US$970 million compared to the same period of last year, according to the Ministry of Commerce.

The import of diesel alone up to January 19 this year was valued at US$1.5 billion exceeding US$851 million compared to the same period of last year. Meanwhile, petrol imports were valued at US$851 million exceeding US$343 million.

Sagaing Region govt meets Indian merchants

Merchants and members of parliament from Manipur state in India and the Sagaing Region government held at meeting at the government office in Monywa on January 30.

 Region Minister for Planning and Finance Soe Oo said the bilateral meeting was held with the aim of ensuring that merchants of the two countries engage more extensively in trade and investment sectors.

Trade deficit hits over $3.6bn in 10 months

From April 1 to January 19 of this fiscal year, the country’s external trade value reached over US$25,887.346 million, up US$3,847.626 million compared with the same period last year, according to the Commerce Ministry.