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Tickets of the state-owned Myanmar National Airlines can be bought with digital payment

Passengers travelling on state-owned Myanmar National Airlines flights can visit the website (www / flymna.com) and can easily book with digital payments through the application and call center. Payment for airline tickets with 3D Secure credit or Debit Card, payment by MPU Card, payment by Bank Transfer Payment can be made over the counters such as NearMe, G & G, abc convenience store, City Express and Oasis through 123 Service. Customers who use Mobile banking / i-banking can pay using KBZ Direct Pay, CB Web Pay, AYA Mobile banking, UAB mobile banking, MAB mobile banking.

Passengers on international flights of the state-owned Myanmar National Airlines will be tested for COVID-19 at Yangon Airport Molecular Lab. State-owned Myanmar National Airlines has announced flight schedules for next May, all of which will be operated by Embraer 190 and ATR 72-600 aircraft. Of the five domestic airlines, all airlines have resumed domestic flights and passenger flights have resumed, according to domestic airlines. Among the domestic airlines, state-owned Myanmar National Airlines and Air KBZ are resuming domestic flights, while GMA and Man Yadanarbon Airlines are operating only Yangon-Sittwe routes.

In May, 2021, there will be flights of Myanmar National Airlines from Yangon to Mandalay, Heho, Kyaing Tong, Sittwe, Myeik, Bote Pyin, Dawei, Kyaukphyu, Loikaw and Kalay. According to a statement from the Ministry of Health and Sports, all passengers on domestic flights will no longer need to undergo the COVID-19 test and will have to comply with other health standards. According to the statement, passengers on domestic flights can apply for a ticket at a local ticket office or at a local ticket office. They will be able to purchase regular flights without having to endorse online or in accordance with the health standards.

Passengers may be exposed to suspected COVID-19 fever, whooping cough, sudden loss of odor, or contact with an infected person within two weeks. And only those who are free of all symptoms and conditions will be allowed to travel. Passengers are required to abide by local orders when the aircraft arrives in their respective cities. The COVID-19 medical check-up for passengers on rescue flights and domestic flights of state-owned Myanmar National Airlines (MNA) and International Myanmar Airlines (MAI) will be available at Yangon Airport Cargo Warehouse and N Health Laboratory, according to the airline.

Source: Daily Eleven

Construction of new Mingalar Market completed 63%

According to the officials, the government is constructing a new Mingalar Market in Mingala Taungnyunt Township spending K68 billion, and about 63 per cent of the market has been completed. The market will be a 17-storey building with a two-storey basement car park and is being constructed by modern machinery, expert engineers and skilled labourers following the COVID-19 health rules of the Ministry of Health and Sports.

There will be banks, restaurants and supermarkets on the ground floor. From 6th to 13th floor including two-storey basement car park can accommodate more than 700 cars. There will also be shops and warehouses on the 9th and 10th floors while the offices will be on 11st and 13th floors.

There will be more than 1,000 shops from the 5th to 8th floors managed by the construction companies. The YCDC will relocate the vendors from the ground floor to the 4th floor who lost their shops in old Mingalar Market, which caught fire. The officials now speed up the building construction. If the new Mingalar Market is completed, it can benefit more than 40,000 people, including vendors, staff, and customers, so the market will become alive more than before.

Source: The Global New Light of Myanmar

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Thousands of trucks are stranded at the Kyin-San-Kyawt checkpoint on the Myanmar-China border, declining in the quality of Myanmar mangoes exported to China at half price

Thousands of trucks on both sides of the border have been stranded due to China’s strict regulations at the Kyinsan-Kyawt Gate, an official gateway to Myanmar-China trade, and prices have fallen by more than half from last year due to delays in the flow of other goods, including 450 perishable mango trucks. Sai Khin Maung, vice-chairman of the Muse 105 Mile Fruit and Vegetable Commodity Exchange, said that mango trucks imported from Myanmar to China are currently facing delays in the quality of mangoes due to delays in entering China. Currently, it is ripened due to delays on the road. In fact, within two days of delivery, they can still get at most three days of convenient fruit. Now, four or five days later, the quality is down and out of stock. About 450 vehicles were stranded on Pansai Road. Today, about 70 vehicles could not get off at the 105-mile orchard due to the lack of roads. Due to this delay, the price of mangoes in the mango market is between 10 yuan and 50 yuan per hint. A Sein-ta-lone mango costs between 25 and 70 yuan, and a mango truck costs 1,900 kyats from Mandalay to China’s Wanding Orchard.

Last year, despite the outbreak of COVID-19 disease, a sein-ta-lone mango fetched more than 100 yuan per mango, and a gold mango costs more than 100 yuan. This year, fruit trucks have been delayed due to delays in arriving at the Wanding orchard. According to Daw Nwe Nway of the Lin Tun Fruit Festival, the price of mangoes imported from Myanmar to China is falling due to better mango production in China than last year. It took four or five days to enter the Wanding Fruit Market, but the quality of the mangoes was declining and the price was not high. Another thing is that China produces a lot of mangoes this year. Depending on the quality, a hint of gold costs between 10 and 50 yuan. A diamond mango costs between 25 and 70 yuan. The mango truck fare is 1,600 kyats from Mandalay to 300 kyats per truck from Wanding Orchard in China, 105 miles from Muse. 

The total cost of medical examination and spraying is 1,900 kyats. Tens of thousands of trucks are now congested at the Qingxuan Gate due to strict Chinese regulations, and queues for between seven and 10 days have been delayed and freight has been delayed. There is a delay because fruit trucks have to miss the nearest exit, Kyin San Kyaw Road. People can only enter from Pansai. In Pansai, there are a lot of cars and raw materials are not given priority over dry goods. It’s like going on par with dry goods. There are many losses. Farmers will have to export harvested plants. People should come and inquire about the condition of the road. At present, the Chinese side is using the Covid disease as a pretext for border trade between Myanmar and China. Myanmar-Chinese import vehicles have been congested at the entrance to Kyin San Kyaw Gate since mid-February, when gates such as the Royal Gate, Naungdaung Gate and Chin Shwe Gate were closed. Recently, the Chinese side tightened inspections at Kyin San Kyawt Gate due to Covid disease, causing delays in exporting Myanmar watermelons and returning to Myanmar, which was delayed due to poor management by the Myanmar side.

Source: Daily Eleven

Domestic gold price hits only over K1.57 mln despite rising of global gold price

The domestic gold bar price hit only over K1.57 million on 27 May despite the rising of the global gold price, according to Yangon Region Gold Entrepreneurs Association (YGEA). The international gold price was around US$1,898 per ounce on 27 May. Although the international gold price stood at only $1834 per ounce on 12 May, the price of precious yellow metal hit the all-time highest of K1,709,000 per tical (0.578 ounce, or 0.016 kilogramme) in history. As a result, the domestic gold price is not rising like international gold. Yangon Region Gold Entrepreneurs Association is taking the necessary measures to stabilize the gold price as per the instructions of the special investigation team, according to an announcement of YGEA issued on 17 May.

At present, the association has closed the gold trading to be able to steady the gold price and urged the members to run a cash-only for the gold transaction. Moreover, illegal importers and those who practise overtrading with negligence will face serious legal action. In January 2021, domestic gold fetched the highest price of K1,336,000 per tical on 6 January. It reached the lowest price of K1,316,000 per tical on 28 January. It got the lowest level of K1,340,000 (2 February) and the highest level of K1,410,000 (3 February). In March, the rate fluctuated between the most elevated of K1,391,000 (25 March) and the lowest of K1,302,000 (4 March). In April, the rate touched the lowest K1,389,000 (1 April) and the highest level of K1,455,000 (30 April), the gold traders said.

The local gold price 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). According to the gold traders, in December, the pure yellow metal priced moved in the range of K1,275,000 (1 December) and K1,333,000 (28 December). With global gold prices on the uptick, the domestic price hit fresh highs in 2019, reaching K1,000,000 per tical between 17 January and 21 February, crossing K1,100,000 (22 June to 5 August), climbing to over K1,200,000 (7 August-4 September), and then reaching an all-time record high of K1,300,000 on 5 September in 2019.

Source: The Global New Light of Myanmar

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Myanmar attracts $1.25 bln FDI in seven months this FY

Myanmar has drawn foreign direct investment of more than US$1.256 billion in the past seven months of the 2020-2021 financial year, including expansion of capital by existing enterprises and acquisitions in the Thilawa Special Economic Zone, according to the Directorate of Investment and Company Administration (DICA). MIC intends to reach an FDI target of $5.8 billion for the current FY2020-2021. The Ministry of Investment and Foreign Economic Relations has been inviting responsible businesses to benefit the country. Myanmar Investment Commission (MIC) ensures to approve the responsible businesses by assessing environmental and social impacts. The commission is working together with the relevant departments to screen the projects.

Japan has been the top source of foreign direct investments into Myanmar over the past seven months of the current FY. It brought in an estimated capital of $518.76 million with three projects, DICA’s statistics indicated. Singapore stood as the second-largest investors this FY with an estimated capital of $388 million from 13 enterprises, followed by China investing $166.75 million in Myanmar. Those enterprises listed from Thailand, India, Japan, Malaysia, Republic of Korea, UK, Viet Nam, Marshall Island, South Africa, Samoa, China, Hong Kong (SAR) and China (Taipei) also made investments this year. MIC and the respective investment committees permitted and endorsed 42 foreign enterprises between 1 October and 30 April in the current FY. Of 42, 21 enterprises pumped FDI into the manufacturing sector.

The power sector received seven projects, and the livestock and fisheries sector attracted five projects. The other service sectors also drew five projects, while the agriculture sector pulled two projects. One foreign enterprise each entered the industrial estate and the hotels and tourism industries. The FDIs stood at $6.9 million from 158 enterprises in the FY2016-2017, $6.119 billion from 234 businesses in the FY2017-2018, $1.94 billion from 89 projects in the 2018 mini-budget year, $4.5 billion from 298 firms in the FY2018-2019 and $5.689 billion from 253 businesses in the FY2019-2020 respectively, the DICA’s data indicated. 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

In order to increase imports to meet the domestic demand, the number of container vessels added to shipping lines is increased from 24 to 37 this month

According to the Myanmar Ports Authority, the number of container vessels will increase from 24 to 37 in May, as the number of container vessels is expected to be extended in May to increase exports during the open season and increase imports to meet domestic demand. The number of ships arriving at Rangoon ports was low between February and March this year, and a total of 24 container vessels are scheduled to be launched by the shipping line in the last week of April. A total of 33 container vessels are scheduled to be shipped to Yangon port in May this year to ensure timely shipments, and special routes will be added to meet market demand, according to the Myanmar Port Authority.

A coordination meeting was held to facilitate the international trade, the import of goods and the flow of goods, to increase the number of container vessels and to meet the demand for containers for export. At the meeting, the Chief Executive Officer of Myanmar Port Authority has reported a drop in container arrivals at Yangon Port since the COVID-19 incident. He called on Myanmar to work together to increase the volume of shipping and reduce the need for container shipping in international trade, with the ongoing demand for containers in the global market, and especially in the Asian and Southeast Asian markets, the current demand for containers and refrigerated containers in Myanmar to ensure timely export and safe port operations as usual.

The Chief Executive Officer also briefed on the current situation of daily port operations at various container ports. The shipping lines are also currently suspending / suspending some vessels. In May this year, a total of 24 container vessels are scheduled to be operated by shipping lines. Depending on the market demand, special flights will be provided. He explained the conditions for providing containers and refrigerators for exporters. The discovery of a new waterway in the Yangon River has allowed international vessels to enter and leave the port of Thilawa, which has been allowed to raise the water limit. According to a statement from the Myanmar Ports Authority, 152 vessels over 30,000 tonnes entered Rangoon port and Thilawa port in the five months since the new dam was allowed to be extended due to the discovery of a new waterway on the Yangon River.

Source: Daily Eleven

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JICA and SME Development Bank will provide loans for investment projects up to five years

JICA and SME Development Bank will jointly provide loans for investment projects with an interest rate of 5.5% per annum for up to five years, SME Debelopment Bank has announced. The JICA Loan is a joint venture between the Japan International Cooperation Agency and the SME Debelopment Bank for a five-year loan. The types of businesses that will be able to get loans are those that are specified by JICA. A JICA loan can be applied for up to five years simply by having land and a building as collateral. At least 80% of the loan must be invested in fixed assets, 20% can be used as working capital and the interest rate is 5.5% per annum. This type of loan is suitable for investing in fixed assets, such as the expansion of restaurants, factory Expansion of a building or business building, preparation new construction, purchase of equipment, upgrading machinery.

Applicants for the JICA Loan must submit three license photos taken within six months, copy of registration Copy of household list Valid business license, proof of business and actual residence, three-year income tax return, three-year financial statements (income, expenditure loss / profit statement), mortgage (land and building), map / land History (105/106) written in six months with a note to borrow from SME Debelopment Bank. Oath of ownership of collateral, mortgage title deed, in front of the warranty photo. Next, Left three photos of the yard and business, DICA Registration Number Loan application plan, minutes of the meeting and list of insurance items / values are required.

Over the past three years, the JICA Two Step Loan has provided over 223 billion kyat in agriculture and rural development loans by state and region, with Ayeyarwady Region providing the largest loan of over 56 billion kyat, according to the Central Statistics Office, citing the Myanma Agriculture Development Bank. From July 21, 2017 to the end of October 2020, JICA Two Step Loan provided loans by over 56 billion kyats (56,602.33 million) in Ayeyarwady Region and over 54 billion kyats (54,287.45 million) in Bago Region. 4,154.24 million kyats in Kachin State; 5982.05 million kyats in Kayah State; 8163.06 million kyats in Magway Region; 23016.25 million kyats in Mandalay Region; 9183.63 million kyats in Mon State; 1585.2 million in Rakhine State; 17457.69 million kyats in Yangon Region; 179,258.64 million kyats in Shan State and 5,152.57 million kyats in Nay Pyi Taw.

Source: Daily Eleven

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Rubber export generates $240 mln revenue in five months

Myanmar’s rubber export earned more than US$240.74 million in the first five months (Oct-Feb) of the current financial year 2020-2021, the Ministry of Commerce’s data showed. Mon State’s rubber market data showed that the price of domestic natural rubber jumped to nearly K1,000 per pound as global rubber is in a bull market. Natural quality rubber was priced at K750 per pound in late January 2021, whereas it soared to above K900 per pound (for RSS1 and RSS3) in May. Myanmar’s natural rubber price tracks the global rates, Myanmar Rubber Planters and Producers Association (MRPPA) stated. The pandemic hinders international producers. Consequently, natural rubber prices went into a bear market in 2020. However, the natural rubber hit up to K1,000 per pound at the end of 2020. Myanmar’s rubber is priced lower than the international rate owing to raw material variability.

Rubber price stood at US$2,600 per tonne in 2020-end in global market, whereas Myanmar rubber fetches only $2,100 per pound. Uniformity is an important quality measure. Tyre manufacturers do not need to change the formula in the production process because of raw material risks. Product uniformity can bring sustainable development for both sides. If there is no raw material variability and risk factor, the price will automatically go up, MRPPA stated. Myanmar’s rubber body is endeavouring to export its natural rubber with the country of origin labelling to external markets. Nevertheless, illegal exports are happening, and it contributes to revenue losses, according to MRPPA. Thailand is buying Myanmar’s natural rubber at a good price through the black market in Payathonezu, Kawthoung and Myeik towns. As a result of this, the government needs to control illegal rubber exports strictly, MRPPA stated.

Thailand re-exports those illegally imported rubber under its origin label. That is why we want to earn the country of origin label, according to MRPPA. Additionally, natural rubber is estimated at K1,300 per pound in Thailand, whereas Myanmar’s rubber is priced about K400 lower than their prices. Myanmar’s rubber has raw material variability. It may lead to quality compliance issues, process inconsistency, productivity problem and high input cost. Meanwhile, Thailand’s rubber is priced at a premium due to quality and consistency. Thailand’s rubber fetches US$2,500 per tonne, while the global rate is at $2,200 per tonne. Rubber is primarily produced in Mon and Kayin states and Taninthayi, Bago, and Yangon regions in Myanmar. As per 2018-2019 rubber season’s data, there are over 1.628 million acres of rubber plantations in Myanmar. Mon State accounts for 497,153 acres, followed by Taninthayi Region with 348,344 acres and Kayin State with 270,760 acres.

About 300,000 tonnes of rubber is produced annually across the country. Seventy per cent of rubber made in Myanmar goes to China. It is also shipped to Singapore, Indonesia, Malaysia, Viet Nam, the Republic of Korea, India, Japan, and other countries, according to the MRPPA. At present, Myanmar is exporting only rubber sheets owing to a lack of machinery and technology. Export rubber varieties include synthetic rubber, ribbed smoked sheet RSS 1,3,5, Myanmar Standard Rubber MSR-20, Technically Specified Rubber TSR-20, and Crepe Rubber. About 150,000 tonnes of rubber was exported in the 2017-2018 financial year. Myanmar shipped over 190,000 tonnes of rubber, with an estimated value of $250 million, in order to external markets in the 2018-2019 financial year, an increase of 41,000 tonnes which helped boost earnings by $60 million compared to the year-ago period, according to data released by the Ministry of Commerce. Myanmar exported over 200,000 tonnes of natural rubber to foreign countries last FY2019-2020, generating an income of over $200 million. 

Source: The Global New Light of Myanmar

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About 800,000 tons of edible oil is imported annually to meet domestic consumption as the country can produce only 400,000 tons per year

As the country can only produce about 400,000 tonnes of edible oil a year, about 800,000 tonnes of edible oil is imported annually to meet domestic consumption, according to a May 25 meeting to coordinate the import and distribution of safe and healthy edible oil. According to the Ministry of Commerce, about 1.2 million tonnes of edible oil is consumed annually in the country and production is around 400,000 tonnes, with about 800,000 tonnes imported annually. U Myint Cho, Director-General of the Department of Consumer Affairs said.

Efforts are being made to bring imported edible oils in line with the standards and quality set by the government, and efforts are being made to ensure that consumers can purchase safe and healthy edible oils at reasonable prices. Relevant Ministries need to provide the necessary technologies for the development of the oil industry and the supply of raw materials, warehouses, dryers and machine parts are also being made in collaboration with the private sector. The state is providing support for the development of Myanmar’s domestic edible oil production sector.

The government will provide loans to get good and pure seeds for oil crops, to the relevant ministries and agencies to increase the use of technology and modern agricultural equipment, increase acreage yield, reduce production costs and improve the production of high quality products that are safe for consumers. It is reported that they are cooperating with organizations. According to the Myanmar Oil Industry Association, there are more than 3,000 officially registered oil refineries and more than 2,000 unregistered oil refineries, for a total of more than 5,000 oil refineries. Myanmar Oil Entrepreneurs Association for Sagaing, Magway Peanuts from Mandalay Region In collaboration with sesame farmers, in the 2018 monsoon, 6,000 acres and to cultivate 3,000 acres in winter and meet half of the country’s oil demand by 2020.

Source: Daily Eleven

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Man Wein border still closed amid COVID-19

China shut the Man Wein checkpoint over one and half month ago, and it remains close in light of the COVID-19, vice-chairman U Min Thein of Muse Rice Wholesale Centre said. Coronavirus cases were detected in Shweli (Ruili) and Kyalgaung precious stone market during late March. It prompted China to restrict border access at the Man Wein checkpoint, a major border crossing between Myanmar and China. At present, the number of positive cases has dropped. Lockdown on the Kyalgaung area has been eased from 4 May.

However, it will be monitored for about three months. Consequently, there is no plan to reopen the Man Wein post. It is still closed. The border closure began on 30 March. Kyalgaung area will be kept under watch for three months even after lifting the lockdown. People still cannot confirm when the crossing will be reopened. Additionally, Man Wein border post is not available for now, according to the negotiation with Shweli’s Foreign Affairs Department. The border post will resume the trade only after drawing up a detailed project report, the Trade Department (Muse 105th mile trade zone) stated.

Once China lifts the restriction, the traders will be spontaneously informed. Owing to the Man Wein post’s closure, major export items such as rice, broken rice, various pulses, fishery products, onion and chilli are delivered to China through Kyin San Kyawt post, a major crossing for Myanmar’s fruit exports, U Min Thein added. However, shipping via Kyinsankyawt post caused traffic congestion and delay. The driver-substitution system was practised in the border area during the first wave of the COVID-19 and it helps lessen the impediments to the trade. Yet, the current restriction exacerbates the border trade, the Muse Rice Wholesale Centre stated. 

Source: The Global New Light of Myanmar