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Myanmar Retail Sourcing Expo 2020

Date: 17 Dec 2020 at 10:00 UTC+06:30 – 19 Dec at 20:00 UTC+06:30

Myanmar Expo Hall at Fortune Plaza

Public · Hosted by ไทยแฟรนไชส์เซ็นเตอร์ ธุรกิจไทย and Myanmar Expo Hall at Fortune Plaza

Tickets: www.thaifranchisecenter.com/event/show.php

Myanmar Retail Sourcing Expo will be an excellent platform for sourcing international product, technology and solution for retail business as well as a networking opportunity for international suppliers and local retailers.
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Selecting the Best Digital Channel for Your eCommerce Business

Date: WEDNESDAY, 11 NOVEMBER 2020

Time: ROM 10:00 UTC+06:30-11:00 UTC+06:30

Public · Hosted by Fastforward Myanmar and CCI France Myanmar

Online eventhttps://bit.ly/3l0xxZl

Grow with fast forward: Selecting the Best Digital Channel for Your eCommerce Business”Selecting the Best Digital Channel for Your eCommerce Business ” is a free Webinar co-hosted by fastforward Myanmar and CCI France Myanmar on Zoom on Wednesday, November (11th) at 10 AM.In this upcoming Webinar,** Ye Myat Min, CEO of nexlabs and** Ko Ko Win, Business Development Manager of nexlabs will discuss in detail:✔️ Which eCommerce model is right for your business?✔️ What eCommerce channels are currently available in Myanmar?✔️ What are the use cases?✔️ What are the pros and cons of each?✔️ What should business owners be aware of when starting an online business?The webinar will be 40 minutes in duration, followed by 20 minutes of Q&A.

Click the link below to register. 👇(https://bit.ly/3l0xxZl)

CCI France Myanmar is the French Myanmar Chamber of Commerce and Industry based in Yangon. CCI France Myanmar is a local and 100% self-financed non-profit organization. Its main objective is to support the development of its members in Myanmar by providing them with business intelligence, networking events, matchmaking meetings, recruitment services, training, and visibility.fastforward Myanmar is an end-to-end eCommerce enabler powered by nexlabs for retailers and SME businesses to launch and grow their eCommerce platforms. nexlabs, fastforward’s parent company, leverages a diverse team with both local and international experiences that combine self-taught coding prodigies with seasoned professionals. We collaborate with innovative and professional workers while creating websites, mobile applications, digital technology businesses, and leading marketing campaigns to meet the needs of clients. 

Construction of Bago-Kyaik Hto Expressway to commerce in 2022

Construction of an expressway connecting the city of Bago and Kyaik Hto Township in Mon State is expected to start in fiscal 2022-23. This comes after the Asia Development Bank (ADB) last week approved a US$483.8 million loan to build the 64-km expressway. Detailed design work is currently underway for the project. They will continue to work on compensation for the residents who live along the road area.

The project, which is expected to be complete in fiscal 2028-29, will include a 2.3- km bridge across the Sittaung River. The Japan International Cooperation Agency will finance the New Sittaung Bridge construction with a ¥27.8 billion loan. The project falls under the Greater Mekong Subregion (GMS) East West Economic Corridor (EWEC) from Bago to Kyaik Hto, The 4-lane asphalt concrete highway with 3.5 meter wide carriageway, 2.5-meter wide median and 2.5- meter wide median and 2.5-meter wide shoulder on each side will also provide easier access to the Thilawa Special Economic Zone near Yangon. The EWEC connects Thailand with Thilawa SEZ, and onwards to Pathein in Ayeyarwaddy.

The project will facilitate more efficient and safer movement of goods and people within Bagon Region, Mon State and Yangon Region by reducing travel time, shortening travel distance, minimizing transport costs and improving regional connectivity with Thailand and other GMS regions. The project will also help improve the ability of the Ministry of Construction to manage the country’s major toll highways and implement social and environmental safeguards. It will include a new community-based road safety program for villagers along the Bago- Kyaikto corridor.

Source: Myanmar Times

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Myanmar-Thailand trade tops $20 bln in past 4 years

The value of Myanmar’s bilateral trade with neighbouring country Thailand in maritime trade and border trade was estimated at US$18.865 billion in the past four financial years, the statistics issued by the Central Statistical Organization under the Ministry of Planning, Finance and Industry indicated. The ministry reported that exports surpassed imports in trade with Thailand in the past four years, with exports reaching over $10.731 billion and imports valued at over $8.13 billion. Between 2016-2017FY and 2019-2020 (as of August), Thailand has been Myanmar’s largest trade partner among the ASEAN states, followed by Singapore and Malaysia.

Thailand accounted for 14.45 pc of total trade in 2016-2017FY with an estimated trade value of US$4.6 billion, 15.54 pc in 2017-2018FY with a trade value of $5.57 billion, 15.55 pc in 2018-2019FY with $5.46 billion and 13.92 pc in 2019-2020FY (Oct-April) with $3.15 billion respectively. Exports of natural gas from Taninthayi Region has contributed to the enormous increase in border trade with Thailand in the previous year. This year, corn exports to Thailand rose significantly compared with the earlier years, the Ministry of Commerce stated. Myanmar primarily exports natural gas, fishery products, coal, tin concentrate (SN 71.58 per cent), coconut (fresh and dry), beans, corns, bamboo shoots, sesame seeds, garment, footwear, plywood and veneer, broken rice and other commodities to Thailand. It imports capital goods such as machinery, raw industrial goods such as cement and fertilizers, and consumer goods such as cosmetics, edible vegetable oil and food products from the neighbouring country.

Myanmar is carrying out border trade with the neighbouring country Thailand through Tachilek, Myawady, Myeik, Mawtaung, Hteekhee, Kawthoung and Maese border areas respectively. Among them, Hteekhee performed the most extensive trade in border trade with Thailand, followed by Myawady. Nevertheless, the surge in coronavirus cases in Myanmar led Thailand to close the border areas. Consequently, the trade via land border sharply fell in the current FY 2020-2021. Apart from its leading trade partner China, Myanmar’s external trade was mostly carried out with the regional trade partners. Trade with countries in the European Union, however, remained uncompetitive, compared with regional trade partners. 

Source: The Global New Light of Myanmar

Gold market reopened but remains sluggish

The domestic gold market has reopened yet it still remains sluggish, said U Ohn Myaing, general secretary of Myanmar Gold Entrepreneurs Association. “The demand is low and the trade isn’t lively yet. Transactions take place only between the sellers who want to cash out and the investors,” he said. On 2 November, pure gold fetched K1.31 million per tical (0.578 ounces, or 0.016 kilograms) in the domestic market, while the gold has registered at US$1,880 per ounce in the international market. “The domestic gold price is about K20,000 lower than the international rate,” he continued.

“It is hard to predict the domestic gold price amid the COVID-19 pandemic and the tensions between China and the US,” he highlighted. Yangon Region gold market, which was temporarily suspended amid the COVID-19 resurgences, was back into business on 26 October. The virtual trade is also available through the Zoom app, Yangon Region Gold Entrepreneurs Association stated. There are more than 10,000 gold shops in the region, and about 50 visses of gold were traded earlier. During the first wave of COVID-19, Yangon gold market was closed between 29 March and 18 May. According to gold traders, during the past four months, the domestic gold was priced with the minimum rate of K1,216,500 (1 July) and the maximum rate of K1,296,500 (27 July).

The price moved in the range of, K1,286,500 on 13 August and K1,332,500 on 7 August. The local gold reached the lowest level of K1,310,500 (2 September) and the highest level of K1,314,000 (1 September). In October, the rate ranged between K1,307,800 (30 October) and K1,316,500 (21 October). With global gold prices on the uptick, the domestic price hit fresh highs last year, reaching K1,000,000 per tical between 17 January and 21 February, crossing K1,100,000 (22 June to 5 August), climbing to over 1,200,000 (7 August-4 September), and then reaching an all-time record high of K1,300,000 on 5 September 2019. 

Source: The Global New Light of Myanmar

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Virtual Workshop on Electricity Markets in Transition: Privatization, Competition, and Regional Cooperation

Date: 4 – 5 November 2020 , 12:20P.M – 4:00 P.M

Summary

The liberalization of the global electricity sector has subjected electricity markets to varying levels of competition and regulation. Growing demand for electricity and investment in the sector in Asia and the Pacific is prompting the region’s developing economies to strengthen their energy reform agendas while taking into account the need to raise the share of renewable energy in electricity generation.

This ADBI virtual workshop will feature new research on the liberalization of the global electricity sector, resulting variations in competition and regulation, and energy reform outlook for developing Asia and the Pacific. Among the focuses will include effective policy development, raising renewable energy share in electricity generation, and prospects for greater regional cooperation within the sector.

Objectives
  • Explore electricity reform experiences and lessons learned
  • Guide electricity sector planning and design for developing economies in Asia and the Pacific and beyond
Participants
  • Policy makers and experts from think tanks, universities, and other institutions, as well as post-graduate students
Output
  • Enhanced understanding of recent electricity market reforms
  • Impetus for greater policy dialogue and research on electricity markets and increasing renewable energy share in electricity generation
  • Presentation slides to be made publicly available on the ADBI website
  • Papers presented during the workshop will be considered for publication as ADBI working papers and possible inclusion in a journal special issue

Host: Asian Development Bank Institute – ADBI

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Myanmar traders suffer loss as China suspends marine products imports

CHINA halted fisheries products imports through Muse land border effective 15 October, causing losses for Myanmar traders, industry sources
said. Myanmar traders export the frozen fish and live fish, crab, eel, long-finned eel and other fisheries products to China through Muse land
border. During the last financial year ending on September 30, a total of 128,067 tonnes of fisheries products, w3ith a total value of US$170.735 million, were exported through Muse. In the FY2018-2019, the figures stood at $128.429 million with 102,018 tonnes. Therefore, the export value saw an increase of $42.306 million, and the volume was up by over 26,048 tonnes in the past FY.

Ribbonfish, Katla, white pomfret, silver pomfret, yellow pike conger, white croaker, soldier croaker, yellow croaker, Ilish, loach, mackerel and pufferfish, and pink, white, Vannamei and Tigers prawn, dried shrimp, squid and salted fish are exported to China. Myanmar’s fish exports to China in June-August dropped. It was attributed to the fights in the Shan State during August and fishing banned season. During the early outbreak of COVID-19, trade flow was steady. During the exemption period of advanced income tax on exports, the export amount increased. At present, the export volume of live crab dropped by $5.966 million worth over 1,875 tonnes, and the export volume of live eel plunged by $6.929 million worth 1,735 tonnes compared to a year-ago period. However, the country saw an increase of 24.791 million (8,617 tonnes) in fish exports, $4.537 million (919.68 tonnes) in prawn exports, and $25.494 million (20,059 tonnes) in other fishery products exports against last year, data of the Fisheries Department (Muse) showed.

The suspension in fishery export does not concern with Chinese authorities. The trade is temporarily halted among the traders of China. Prawns exported to foreign countries, of which more than 4,000 tonnes of prawns are sent to the Japanese market. They notified the local traders of trade suspension in advance. On 5 October, China stopped frozen fish purchase and so did the crab and eel on 16 October. Only dried fish and prawn are flowing into China through its Mang Weing border. Chinese traders have not informed when they will be back into the business. The eels are stockpiled at the depot. Some even experience capital loss. Some local traders also stopped buying the eel. The trade will return to normal once trade with China is opened. For the time being, traders are facing loss. The eel fetched only K3,000-3,500 per vises (1.6 kg). The market primarily depends on China. The trade suspension in China side harms both the traders and those harvesting eel and shrimp. The local traders can only wait for the reopening of trade in China.

Source: The Global New Light of Myanmar

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Second review of Myanmar’s investment policy conducted

The Ministry of Investment and Foreign Economic Relations (MIFER) has conducted a review of Myanmar’s investment policy with the aim of restructuring and creating an attractive environment for local and foreign investors. The review, conducted with the help of the Organization of Economic Co-operation and Development (OECD), focused on infrastructure connectivity, building a green development investment framework, improving land use rights and enhancing the role of the economic zones, according to the MIFER. The outcome of the review, which is the second conducted in six years, will be released this month.

Although substantial progress has been made on the investment front since the first review in 2014, the reform momentum needs to be deepened for new investments to be viable and growth to be sustainable. This second review takes stock of Myanmar’s recent achievements and assesses the remaining challenges in attracting new investments with a view of enabling a responsible business environment and ensuring the benefits are shared with society. It places a strong emphasis on haw foreign investments can help Myanmar achieve the Sustainable Development Goals and improve the lives of the people of Myanmar, the OECD said.

The MIFER will seek to develop more Special Economic Zones and new industrial zones in strategic areas and sectors, and partnership with reputable, internationally experienced developers. Also, they will aim to modernize and expand fiscal incentives on offer under a revised Myanmar Investment Law and through a revised Myanmar Investment Promotion Plan. The OECD released the first Myanmar Investment Policy Review in 21014, as a result of which the Myanmar Investment Law and the Myanmar Companies Law were enacted to support and regulate further investments in the country. The first investment policy review included financial sector reform, investment promotion and facilitation, infrastructure development and responsible business practices.

Source: Myanmar Times

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Transport, communications sector tops FDI line-up in incumbent government period

Under the Myanmar Investment Law, transport and communications sector tops the foreign investment line-up over the four years of incumbent government period, bringing in the capital of US$6.135 billion, according to the Directorate of Investment and Company Administration (DICA). The quantum of investment in transport and communications sector is higher than in any other sectors, attracting 29 enterprises. Between the 2016-2017 and 2019-2020 budget years, the manufacturing sector has absorbed FDI of $6.13 billion from 706 projects.

Real estate sector has attracted $3.6 billion from 29 projects. The power sector has drawn 19 foreign investment projects worth $3.17 billion. Twenty-four projects worth $725.9 million has been approved in the hotels and tourism sector, while the existing enterprises increased the investments of $363 million in the oil and gas sector. The livestock and fisheries sector has pulled in an investment of $452.68 million from 36 foreign enterprises. The agricultural sector has also attracted $181.98 million from 18 foreign projects, while industrial estate sector received $390.459 million from five enterprises. The mining sector has received over $11 million from existing enterprises. Over $2.63 billion in FDI has been pumped into the other services sector from 106 businesses.

The Myanmar Investment Commission (MIC) and the respective investment committees granted permits and endorsements to 1,032 foreign enterprises over the past four years, with estimated capitals of $25.18 billion. Of them, Thilawa Special Economic Zone attracted investments worth $1.36 billion from 60 enterprises under the Special Economic Zone Law in the past four years, while FDI of $23.8 billion flowed into the country under the Myanmar Investment Law, the DICA’s data showed. Of 36 foreign countries investing in Myanmar in the past four years, Singapore put the most massive investments under Myanmar Investment Law, followed by China and Hong Kong (SAR).

MIC is prioritizing the labour-intensive businesses. In the incumbent government period, domestic and foreign projects employ over 670,000 residents, according to the DICA. Those enterprises have created over 96,000 jobs in the FY2016-2017, 110,000 jobs in the FY2017-2018, over 53,000 jobs in the 2018 mini-budget period, over 180,000 jobs in the FY2018-2019 and 210,000 jobs in the FY2019-2020 respectively. 

Source: The Global New Light of Myanmar

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Myanmar trade deficit with China estimated at $1.3 bln last FY

Myanmar trade deficit in goods with China was estimated at US$1.3 billion in the 11 months of the last financial year (Oct-Aug), the data released by the Ministry of Commerce indicated. The value of Myanmar’s bilateral trade with China in average trade and border trade topped $11.19 billion as of August in the past FY. The MoC reported that imports surpassed exports in trade with China, with exports reaching over $4.9 billion and imports valued at over $6.246 billion. This year, China has been stepping up border control measures to contain the spread of the Covid-19, causing traffic congestion in the border areas of two sides.

Next, the value of Myanmar’s bilateral trade with the neighbouring country China through maritime trade and border trade has registered approximately at US$46.247 billion in the incumbent government period, the statistics issued by the Central Statistical Organization under the Ministry of Planning, Finance and Industry indicated. The ministry reported that the imports outperformed the exports in trade with China over the past four years, with exports reaching over $21.363 billion and imports valued at over $24.8 billion. Between 2016-2017FY and 2019-2020 (as of August), China has been Myanmar’s largest trade partner beyond the regional states. Myanmar primarily exports rice, various types of peas, sesame seeds, corn, fruits and vegetables, dried tea leaves, fishery products, rubber, gem and animal products to China.

In contrast, machinery, plastic raw materials, CMP raw materials, consumer products and electronic tools flow into Myanmar. Myanmar mainly exports agricultural products to China through the border trade, which is often halted, on account of China clamping down on illegal goods. Myanmar merchants are facing difficulties in exporting goods to China through the legitimate channel as they find the tax levied by China is too high. In a bid to lower trade barriers and offer relief to Myanmar traders through the border trade channel, the Ministry of Commerce, the relevant departments and Union of Myanmar Federation of Chambers of Commerce and Industry have been negotiating with China counterparts.

Illegal trade is highly witnessed between Myanmar and China borders in the previous years. This year, traders sent the goods via legitimate trade route, and trading volume sharply fell, according to the Myanmar Rice Federation. The two countries are making efforts to set up more border economic cooperation zones and promote border trade. Myanmar’s Ministry of Commerce is trying to boost exports of rice, broken rice, agro-products, fruits and fisheries to China through diplomatic negotiations. Myanmar is carrying out border trade with the neighbouring country China through Muse, Lweje, Chinshwehaw, Kampaiti and Kengtung. Apart from its leading trade partner China, Myanmar’s external trade was mostly carried out with the regional trade partners. Trade with countries in the European.

Source: The Global New Light of Myanmar