Foreign investors buy more than 4502,600 shares of four companies listed on the Yangon Stock Exchange in the past 10 months

Foreign investors have bought more than 4502,600 shares of the four companies in the past 10 months, allowing foreigners to buy shares in companies listed on the Yangon Stock Exchange, according to figures released by the Yangon Stock Exchange. Starting from March 20, 2020, foreigners, Foreign organizations were allowed to buy shares in the Yangon Stock Exchange. As of January 27, 2021, 4502,679 shares were purchased from four of the six companies listed on the Yangon Stock Exchange. The number of shares purchased by each company is 4458,136 shares in First Myanmar Investment Company Limited (FMI); 31973 at Thilawa AS Isaac Holdings Public Limited (MTSH); 7,125 at Ever Flow River Group Public Co., Ltd; 5445 at TMH Telecom Public Co., Ltd. Yangon Stock Exchange (YSX) List of companies that want to invest in shares of companies listed on the Yangon Stock Exchange (YSX). 

Ministry of Finance and Industry The Securities and Exchange Commission issued a notification No. (4/2020). The Securities and Exchange Commission of Myanmar (SEC) has issued Notification No. (1/2019) and Directive No. (1/2020) and allowed foreigners to participate in the daily trading of shares of companies listed on the Yangon Stock Exchange. According to Article 3 (c) of Directive (1/2020), foreigners (including individuals and organizations) wishing to invest must first visit a securities company and obtain a letter of recommendation.  After that, Resident Kyat Account for Securities (R-KAS) for domestic residents and Non Resident Kyat Account for Securities (N-KAS) and Non-resident Foreign Currency Account for Securities (N-FAS) accounts can only be opened in Securities Companies.

Therefore, foreigners wishing to invest in the shares of companies listed on the Yangon Stock Exchange (YSX) open and trade in the bank accounts specified by the Commission. Ministry of Finance and Industry The Securities and Exchange Commission has issued a petition. The Central Bank of Myanmar has issued Directive No. 3/2020 on the requirements for banks to be involved in the daily trading of shares of companies listed on the Yangon Stock Exchange. According to the Notification No. (1/2019) and Instruction No. 1/2020 of the Securities and Exchange Commission, foreigners living in the country and foreigners living in the country will be allowed to trade the shares of listed companies on the Yangon Stock Exchange. Instruction No. 1/2020; According to Article 19, foreigners are required to bring their investment into Myanmar in the trading of shares by Foreign exchange management law, and Foreign Exchange Management Rules and Regulations issued by the Central Bank of Myanmar, the instructions must be strictly followed and supervised by the Central Bank of Myanmar.

Source: Daily Eleven


World-class integrated industrial city being developed in Pathein

The Pathein Industrial City (PIC) project is being developed by Ayeyarwaddy Development Public Company Limited in Pathein, Ayeyawady Region. The Pathein Industrial City (PIC) project is being implemented in three phases and is designed to include an international scale industrial zone, a river port, commercial and residential zone. Upon completion of the project, which is being established on 6,700 acres of land along the Pathein-Ngapudaw Road in Pathein Township, Ayeyawady Region, with an investment of US$ 500 million, it is expected to create over one million job opportunities for local people, according to an official from Ayeyarwaddy Development Public Company Limited.

Phase I of the project is being developed as an industrial zone which will cover about 1,200 acres of land, and the construction work has been about 70 per cent finished. The international port is scheduled to be built in the industrial zone project, and it is being developed for a new role in the regional economy. The Phase I of the project covers an area of 1,200 acres of land. At present, the entire 1,200 acres on Phase I are nearing completion and the factories are operational. When the entire Phase I is fully operational, it will provide employment opportunities for between 150,000 and 300,000 local people. Once completed, the project will create thousands of jobs for local people in Ayeyawady Region.

This project will greatly contribute to the economic growth and employment prospects of the whole region according to the Deputy Chief Executive Officer of Ayeyarwaddy Development Public Company Limited. The Pathein Industrial City (PIC) project is located 8 km from Pathein Port, 7 km from Pathein railway station and 17 km from Pathein Airport. The project will include garment factories, rice mills, fish processing plants, glass mills, cold storage facilities, plastics factories, fertilizer factories and furniture factories. Construction of four factories in Phase I of the project has been finished. The construction of garment factories that can employ 3,000 to 5,000 workers has been completed. Four more factories are expected to be completed before the rainy season.

A special garment zone is being built, and about 50 acres for rice production is being researched by China in the project area. Phase I of the project has reportedly been 70 per cent completed, with Chinese, Korean, Japanese and other international companies investing in the zone. Phase II and Phase III of the project will be the future development of commercial, residential and industrial zone which will cover about 5,500 acres of land. Phase II of the project will include affordable housing projects, hotels, resorts and shopping malls. After Phase I of the project, Phase II will be implemented in 2021, including the low-cost housing projects and shopping malls. The developers were urged to conduct environmental and social impacts of the project with the aim of lessening negative effects and take grievances of local people into consideration.

With rapid urbanization of Pathein City and an urgent need for extension of urban residential housings on the west bank of Ngawun River, the Pathein Bridge-2 was built by the Ministry of Construction. The integrated industrial city project is expected to promote infrastructural development and boost tourism in the region. The local government has been attempting to upgrade basic infrastructure projects in the region, pouring the majority of its budget into reconstruction and upgrade of the road networks, to make operational in all seasons. Infrastructural development of a region plays a vital role in helping the country’s GDP increase and uplifting the standard of living of local people. Development of infrastructural projects provides economic growth, creates job prospects for local residents and lifts them out of poverty.

Source: The Global New Light of Myanmar


Naungtayar potato association imports 25 tonnes of Mar potato species

Naungtayar potato association imported 25 tonnes of Mar potato species which is suited to the region. The Naungtayar potato association was formed by the potato growers from Naungtayar town, Pinlaung township, Pa-O Self-Administered Zone, Shan State (South). This year, the Naungtayar potato association imported 25 tonnes of Mar potato species from aboard. Last year, they bought from other companies.

In 2015-2016 financial year, the association got tax exemption, and it cost only K1,700 to reach Naungtayar. The association has to pay 15 per cent tax, and it costs K2,500 to reach Naungtayar. The local farmers will grow new species of potato. Then, they will distribute to the local farmers by keeping produced potato in the refrigerator, said Chairman U Khun San Oo of the Naungtayar potato association.

The association imported the new Mar species aimed for the local farmers to grow the potato at a lower cost, to get the good species of potato which is also suited to the weather condition, to yield higher, to produce good delicious potato and to ensure good quality of potato for the fried potato businesses. Naungtayar potato association is constructing a potato cold storage building and is targeted to complete in March. Upon completing the construction project, there will be a good advantage as the good quality potato can be exported. The potato could be stored longer. We will reduce the import of potato, and the local farmers could grow the potato at an affordable cost.

Source: The Global New Light of Myanmar


Four local banks, eight foreign bank branches, six foreign bank representative offices are allowed to open during the current government’s five-year term

During the current government’s five-year term, four local banks, eight foreign bank branches, and six foreign bank representative offices have been allowed to open, according to figures released by the Central Bank of Myanmar. The local banks that were allowed to open under the current government are Glory Farmer Development Bank; Metal Development Bank; Myanmar Tourism Bank Farmers Development Bank – Mandalay. The foreign banks that were allowed to open under the current government are BIDV Bank (Vietnam); Shinhan Bank (South Korea), E. Sun Commercial Bank Limited (Taiwan), State Bank of India (India), Mega International Commercial Bank (Taiwan), The Korea Development Bank (South Korea); Cathy United Bank (Taiwan), Bank of China (Hong Kong) (Hong Kong).

In March 2020, the number of branches opened by 27 private banks was 1,940, and the number increased to 634 in 45 months, according to the Quarterly Financial Statistics Bulletin (2019 Volume IV) issued by the Central Bank of Myanmar. As of June 2016, there are 515 branches in four state-owned banks in Myanmar, 62 ATMs, 1306 branches from 24 private banks; 1586 ATMs, 10 foreign bank branches, 15 foreign financial companies. There are 45 foreign bank representative offices. As of March 2020, there are 517 branches in four state-owned banks in Myanmar, 93 ATMs, 1940 branches from 27 private banks, 2894 ATM, 13 foreign bank branches, 29 foreign financial companies, 45 foreign bank representative offices. There are six representative offices of foreign financial companies.

In 45 months, the state-owned bank will have two branches; 31 ATMs; Three private banks; 634 branches; 1588 ATMs; Three foreign banks; 14 foreign financial companies; Six foreign finance company representative offices were expanded, and the foreign bank representative office remained unchanged at 45 as of June 2016. In December 2019, deposits in state-owned banks and private banks exceeded 49350 billion kyats, compared to 631 billion kyats in the previous three months. Deposits in private banks increased by more than 854 billion kyats. As of December 2019, the amount of loans disbursed by local banks was over 29695 billion kyats, while state-owned banks provided over 5270 billion kyats. Private banks have lent more than 24,424 billion kyats.

In December 2019, deposits at foreign bank branches totaled more than 4,022 billion kyats, and more than 2,036 billion kyats were disbursed. In order to ensure the security of the entire banking system, banks have to submit reports to the Central Banking Regulatory Commission. Daily reports include capital expenditures. Deposit Loans Money transfer, Income and expenses, Ownership of government securities, Income / Expenditure Account, Test status and daily foreign exchange status. The weekly report to be submitted is the cash flow ratio. Monthly reports include income and expenditure status; Balance Sheet List of capital adequacy ratios and entitlements. Quarterly reports include a list of large debts. Loans by sector and type of insurance to be sent annually. In 2014, nine foreign banks were allowed to open branches in Myanmar. In 2016, there were four branches; Now, in 2020, there will be four branches. Three banks under foreign banks. A total of 17 foreign bank branches; Three foreign-affiliated banks have been licensed.

Source: Daily Eleven


Foreign demand shows uptick for Myanmar corn this year

According to Myanmar Corn Industrial Association (MCIA), the demand for Myanmar corn from foreign countries is on the rise. With the rising demand for Myanmar corn, the price of corn is likely to increase this year, said an official from MCIA. Last year, Myanmar corn was demanded a bit from the foreign market. But this year, three countries have enquired Myanmar corn in a single day. True, last year saw Myanmar corn having demand, but it was only a small volume.

This year, Thailand is preparing to buy corn from Myanmar. At the same time, the demand from Viet Nam is on the rise to buy Myanmar corn.
Yearly, Thailand, Viet Nam and Laos are buying Myanmar corn as they do annually have a high requirement of corn in their countries. This year too, these countries are demanding Myanmar corn as in the previous years.
Myanmar annually produces around 3 million tonnes of corn from 607,000 hectares of land.

It is grown in all regions and states but especially in Shan State, and Sagaing and Magway regions. Myawady corn commodity depot has planned to open in the third week of January in 2021. The depot will be opened to ensure fair trade of corn on the Myawady border and for the greater convenience of the trading. This year, the association targeted to export 1.6 million tonnes of corn. Last year, Myanmar exported over 2.2 million tonnes of corn to the foreign market, with an estimated value of over US$360 million, according to the data of the Ministry of Commerce.

Source: The Global New Light of Myanmar


29 solar power plants of Myanmar to generate 1,030 MW in mid-2021

The Ministry of Electricity and Energy is implementing 29 solar power projects, with the installed capacity of 1,030 megawatts, to generate electricity in mid-2021, according to the 4th coordination meeting of National Renewable Energy Committee on 29th January,2021. The committee meeting was held in Nay Pyi Taw and it was attended by Union Minister for Electricity and Energy U Win Khaing as the chairman, Union Minister for Agriculture, Livestock and Irrigation Dr Aung Thu as the vice chairman, Union Minister for Natural Resources and Environmental Conservation U Ohn Win, Union Minister for Transport and Communications U Thant Sin Maung, Union Attorney-General U Tun Tun Oo and committee members.

At the meeting, Union Minister U Win Khaing said that the committee has organized three meetings since it was formed in February 2019, and could work for the improvement of renewable energy in Myanmar’s Energy Mix, opening the first solar power plant in Myanmar with 40 MW capacity in Minbu on 27 June 2019, the 0.5 MW solar power plant in Manaungkyun on 19 December 2019 inaugurated by the State Counsellor. The 0.5 MW solar power plant in Cocogyun Township began electricity generation for 24 hours every day since 4 January 2021. After completing the ongoing solar projects, Myanmar’s energy mix for electricity generation would be 40 per cent from hydropower, 14 per cent from solar, 3 per cent from domestic natural gas, 11 per cent from liquified natural gas and 1 per cent from other sources.

When the installed capacity reached 8,118 MW, the power generation from renewable energy will account for 54 per cent and 45 per cent from clean fuel. The country has met international policies for renewable energy and exceeded the expectation of ASEAN on renewable energy. The electrification ratio of the country has reached over 58 per cent, and renewable energy would significantly contribute in 75 per cent coverage of electricity in the country. Moreover, the electricity supply in Yangon and Mandalay region is targeted to reach 75 per cent this year, while Myanmar has pledged at the Climate Ambition Summit which was held on 12 December last year as the preliminary event of COP 26 Climate Change Conference that will take place in Britain at the end of this year to develop up to 39 per cent of renewable energy in the country’s electricity ratio.

Under the Nationally Determined Contribution, which is aimed for the reduction of climate change, Myanmar is working to reduce carbon dioxide emission from 297 million tonnes of the present to 144 million tonnes in 2030. Union Minister U Win Khaing also talked about the works of Department of Rural Development to set up solar mini-grid and solar home system in remote and rural areas, increasing 5 per cent of electrification rate in the country. The MoEE will implement the floating solar project in collaboration with the MoALI, and the solar-power plant with the MoPFI. The meeting was attended by ministerial officials, Yangon City Mayor U Maung Maung Soe, Mandalay City Development Committee member Dr Thit Sin and senior members of relevant organizations via online.

Source: The Global New Light of Myanmar


Announcement on Extension of the Precautionary Restriction Measures Relating to Control of the COVID-19 Pandemic until 28 February 2021

  1. With a view to the further strengthening of measures to contain the spread of the new COVID-19 pandemic, the Ministry of Foreign Affairs of the Republic of the Union of Myanmar has issued the following announcements regarding temporary entry restrictions for visitors from all countries. All those restrictions were extended until 31 January 2021 by the Ministry’s announcement dated 30 December 2020.
    (a) Announcement dated 15 March 2020 regarding precautionary measures for all travellers visiting Myanmar;
    (b) Announcement dated 20 March 2020 regarding additional precautionary measures for travellers visiting Myanmar and temporary suspension of issuance of visa on Arrival and e-visa;
    (c) Announcement dated 24 March 2020 regarding additional precautionary measures for travellers from all countries visiting Myanmar;
    (d) Announcement dated 28 March 2020 regarding temporary suspension of all types of visas (including social visit visas) and visa exemption services.
  2. In order to continue its effective response measures to protect the population of the country from the risks of importation and spread of the COVID-19, the Government of the Republic of the Union of Myanmar has decided to extend the afore-mentioned entry restriction measures until 28 February 2021.
  3. In case of urgent official missions or compelling reasons, foreign nationals, including diplomats and United Nations officials, who wish to travel to Myanmar by available relief or special flights, may contact the nearest Myanmar Mission for possible exception with regard to certain visa restrictions. However, all visitors must abide by existing directives issued by the Ministry of Health and Sports relating to the prevention and control of the COVID-19 pandemic.

Ministry of Foreign Affairs
Nay Pyi Taw
Dated. 30 January 2021

Source: The Global New Light of Myanmar


YGEA holds coordination meeting for gold exports to Japan

The work coordination meeting regarding gold exports to Japan and appraisal was inaugurated at the One-Stop Service Centre (OSSC) on 5th floor of UMFCCI on 28 January, Yangon Region Gold Entrepreneurs Association (YGEA) stated. At the coordination meeting, Taw Win Myint Company conducted appraisals of the gold and jewellery which are designated for exports to Japan via air freight. The appraisal team assessed 13 gold items including earrings, rings, pendants and other designs at the OSSC. Myanmar’s gold export paused after a change in the payment system, and now it has returned to normal from July 2020.

As per the notification released by the Ministry of Commerce, starting from April, the international remittance for gold purchase has changed from Telegraph Transfer (TT) to Letter of Credit (LC). As a result of this, payment can take about two months, cost banking service changes by two sides, and increase the charges for security matter in transportation. Meanwhile, gold trading in the international market has also come to a stop due to volatile prices. The YGEA have already submitted a request for the resumption of the TT payment system to the Ministry of Commerce. Gold and other pieces of jewellery are primarily purchased by Japan and the ROK, and other tourists also buy them.

Myanmar gave greenlight to gold exports and imports in January 2018, with the aims to eradicate illegal trade, earn revenue for the country and maintain the market’s stability. The local gold market has become sluggish as the pandemic shut down the events like wedding and traditional festivals, gold traders pointed out. As the gold price is fast to spike yet slow to fall in the domestic market, the sellers exceed the buyers in the domestic gold market, traders said. At present, the old gold scrap and jewellery are refined into the pure gold bar. The raw material has not come from gold mining as the transportation restriction halted gold mining. Myanmar’s gold price is related to global rates. The domestic gold price rose to K1,336,000 per tical (0.578 ounces, or 0.016 kilogrammes) on 6 January 2021 when the gold price rallied to US$1,944 per ounce.

On 28 January 2021, the price showed downtick with K1,316,600 per tical while gold price slid into $1,837 per ounce in the global market. The daily transaction of 50 visses (a viss equals 1.6kg) of gold were earlier seen in the market. Now, about 5-10 visses are rarely traded per day, according to YGEA. According to gold traders, 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). The rate fluctuated between the highest of K1,312,000 (16 November) and the lowest of K1,278,000 (28 November). In December, the pure yellow metal priced moved in the range of 1,275,000 (1 December) and 1,333,000 (28 December).

Source: The Global New Light of Myanmar

35176776 - closeup paddy rice in the rice field

Rice export targeted at 2 mln tonnes this FY as summer paddy cultivation drops

Myanmar has targeted to export 2 million tonnes of rice in 2020-2021 (Oct/Sept) fiscal year, down from 2.5 million tonnes last fiscal year as summer paddy cultivation drops, said U Ye Min Aung, Chairman of Myanmar Rice Federation (MRF). Weather changes affected irrigation water resource availability on agriculture. The water resource in reservoirs and lakes sharply dropped because of weather changes. Consequently, the decrease in irrigation water availability scaled-down the acreage of summer paddy. Last FY, Myanmar shipped about 2.5 million tonnes of rice to external markets.

This year, Myanmar expect approximately only 2 million tonnes in exports. During Q1 of the present FY (1 October to 31 December 2020), Myanmar exported over 270,000 tonnes of rice via a border and over 370,000 tonnes through sea trade to the foreign markets, totalling about 600,000 tonnes of rice. The country shipped over 800,000 tonnes through maritime trade and over 130,000 tonnes via border to foreign trade partners in the corresponding period of last FY, with an estimated volume of 900,000 tonnes. As a result of this, the figures showed a drop of 300,000 tonnes of rice in exports.

Additionally, the high price in the domestic market and instability of foreign exchange rates are contributing factors to the slump in exports, MRF Chair U Ye Min Aung continued. The main reason why Myanmar’s rice export falls is the price gain in the domestic market and forex trading. A US dollar has pegged at around K1,300 in recent days. The instability in the forex market affects the export sector. That could pose difficulties to the exporters. The federation has also reported this to the government. The instability in the exchange rate is the important factor of the trade balance of the country. It also has direct impacts on all the export sector, including livestock and fishery products beyond agricultural export. Myanmar generated over $800 million from rice exports in the previous FY2019-2020 ended 30 September, with an estimated volume of over 2.5 million tonnes.

Source: The Global New Light of Myanmar


MIC greenlights fourteen new investment proposals including four solar project

The Myanmar Investment Commission (MIC) held its first meeting for the year yesterday via videoconference. The meeting chaired by Union Minister for Investment and Foreign Economic Relations and Chairman of the MIC, U Thaung Tun was attended by Vice-Chairman Dr Than Myint, Union Minister for Commerce and members of the Commission.

The meeting approved 14 new investments proposals and increase in capital in 4 existing projects. The approved investments in the energy, fisheries, real estate and services sectors totalled US$295.279 million and Kyat 153.686 billion. The projects are expected to create 4,371 job opportunities. The approved projects include four 40-MW solar power projects in Mandalay, Sagaing and Magway Regions as well as a fish meal factory proposal submitted by Scoular Myanmar Co., Ltd.

The solar power projects are in keeping with Myanmar’s commitment to tackle climate change. At the virtual Climate Ambition Summit held on 12 December 2020, the State Counsellor announced Myanmar’s intention to submit its Nationally Determined Contribution (NDC). The NDC will aim to reduce over 243 million tonnes of carbon dioxide by increasing the share of renewable energy to 39% and reducing the net emission from the forestry sector by 25%. It is learnt that Singapore, the People’s Republic of China and Thailand head the list of 51 countries investing in Myanmar. 

Source: The Global New Light of Myanmar