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During the third wave of COVID-19 in Myanmar, up to 110 townships have been declared Stay at Home by August 4

During the third wave of COVID-19 in Myanmar, up to 110 townships have been declared Stay at Home by August 4. Stay at Home has been announced in the townships where the number of COVID-19 cases has been found. As of July 31, there are 108 townships in the regions and state; Aung Myay Thar San, Chan Aye Thar San Township, Pyigyidagun Township Maha Aung Myay Township, Patheingyi Township, Pyin Oo Lwin Township, Amarapura Township, Nwathogyi Township, Yamethin Township, Myittha Township, Madara Township, Thabeikkyin Township, Meiktila Township, Wan Dwin Township, Tharsi Township, Five June Township, Taungtha Township, Pyawbwe Township and Myingyan Township.

Thayawady Township, Bago Region Minhla Township Letpadan Phyu Township, Oktwin, Kawa, Kyauk Ta Ga, Daik-U, Waw, Okpho, Nyaung Lay Pin Township and Nattalin Township; Ton Zan in Chin State, Tedim, Falam, Thantlang, Hakha Township, Tamu Township, Sagaing Region, Homalin Township, Kalemyo Township Sagaing City Monywa Township, Lashio, Shan State Naungcho Township Laukkai Township, Kokang Autonomous Region Hsipaw Tachileik Township Muse Township Nyaungshwe Township Taunggyi and Wapsauk townships were declared Stay at Home. In addition, Magway Region; Gangaw Township, Pakokku, Myaing, Taung Twin Gyi, Natmauk, Salin, Sin Paung Wae, Min Tone, Min Hla, Thayet Township, Pwint Phyu Township, Minbu Township and Aunglan Township; Moulmein Township, Mon State Thanbyuzayat Township Thaton and Bilin townships are designated as Stay at Home.

Mingaladon Township, Yangon Region; Hmawbi Township, Shwepyithar Township, Hlaing Tharyar Township, Insein Township, South Okkalapa Township, Mingalar Taung Nyunt Township, North Okkalapa Township, Bahan Township, Mayangone Township, Taikgyi Township, Tamwe Township, Dagon Myothit (North), Yankin, Thaketa, Thingangyun, Kamayut, Kyimyindaing, Sanchaung, Dagon Township, Hlaing townships are designated as Stay at Home. Next, Bhamo, Kachin State, Myitkyina, Shwegu, Hpakant Mogaung Township Myawaddy, Kayin State Pathein Township, Ayeyarwady Region Myaungmya Township Tharpaung Township Kan Gyi Daung Hinthada Township Kyonpyaw Township and Bogale Township; Zambu Thiri Township, Nay Pyi Taw Pyinmana Township and Leway Township. Residents of these townships (excluding government employees) are required to live in their own homes and access private banking, banking and financial services. 

Those who go to work to gas stations, food and fish refrigeration; manufacture and distribution of pharmaceuticals and medical equipment; water production and distribution, daily personal care factories do not have to be involved in related activities. In addition, there are private ports that provide services for cargo ships at the port. Shipping line local representative offices; International Freight Forwarder; Companies and agencies that provide customs services; Container trucking; Port vehicles for import and export; Shipping; Employees from Inland Container Depot and Dry Pot are not included. Landline and mobile telephony services; Internet services (excluding telephone sales, data sales); Staff from Tower and Fiber Repair Service are not included. In addition, raw material processing and processing (CMP) factory; Relevant Region / State Administrative Councils shall issue necessary directives to prevent the spread of COVID-19 virus in the workshops. It is stated that it is to carry out supervision.

Source: Daily Eleven

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So far in August, 133 tonnes of Bowser vehicles, 32 tonnes of oxygen tanks, Covid-19 immunizations, including 22813 home oxygen concentrators have been imported

According to the Ministry of Commerce, 133 tonnes of Bowser oxygen was delivered, 32 tons with liquid oxygen tank, 22813 home oxygen machines, 135942 Test Kit Covid-19 vaccine supplies, including five 183-tonne oxygen generators, have been imported in August. Currently, with the rise in the third wave of Covid-19 outbreaks across the country, there is an urgent need for oxygen-related drugs for Covid-19 immunization control so that Ministry of Commerce is coordinating with the relevant ministries to import from sea ports and border trade points without delay.

From 12 to 29 July, 670 tons of Oxygen (Bowser), 517 tons with liquefied petroleum gas; 53,875 home oxygen generators; 306,078 test kits, 869 tons of masks; five Oxygen Plants; Covid-19 vaccine supplies, including five oxygen generators have been imported, according to the Ministry of Commerce. On July 20, the International Airport; Maritime ports and border trade ports and Muse; Chin Shwe Haw Myawaddy Tachileik 76 companies from Mawtaung, 51 vehicles with 43 tons of Oxygen (Bowser); 29 tons of liquid oxygen tank; Four Oxygen Generators 3978 Home Oxygen Concentrators; 20,000 test kits; 55 tons of masks were imported.

On July 19, eighty-four companies from Muse, Chin Shwe Haw, Myawaddy, Tachileik the Mawtaung border trade points sold 57.24 tonnes of Oxygen (Bowser) vehicles; 36.040 tons with liquid oxygen tank; 25,590 tons with liquefied petroleum gas; 5053 Home Oxygen Concentrator; , 500 test kits and 75,546 kg of masks were imported, according to the Ministry of Commerce. The Ministry of Commerce has allowed the import of Covid-19 protective equipment and liquid oxygen, which require a license, without the need for a license. Import of Oxygen Concentrators is also allowed to be imported quickly with a 5% commercial tax exemption without the need to apply for an import license with the approval of the Food and Drug Administration.

Source: Daily Eleven

Instead of setting a market-based reference exchange rate, the central bank will only announce the auction price at the reference exchange rate

Central Bank of Myanmar Vice-Governor U Win Thaw said that the Central Bank of Myanmar will announce the auction price instead of the previous market-based reference exchange rate. In ​​the meeting with the licensed banks, the banks have been instructed to keep the rise in foreign exchange prices. However, prices are still rising. High foreign exchange rates have contributed to the country’s political stability. It is very important as it can affect economic stability.

Central Bank Vice-Chairman U Win Thaw said that banks would do their best to report to the central bank if necessary to buy and sell foreign currency only within the limits of foreign exchange trading and to stabilize the exchange rate at a reasonable price at the time of the Kovis-19 incident. The Central Bank of the Republic of the Union of Myanmar has been selling foreign currency to special auction cause AD banks to meet the demand for foreign currency. It is added that the Central Bank of Myanmar will announce the auction price instead of the previous market-based reference exchange rate.

For sale in the case of exchanges, the difference between the selling price and the purchase price should not be more than one percent, and the reference exchange rate should be set as the mid rate and the trading should be amended within + 0.8 percent. Central Bank Vice-Governor Win Thaw said that if the banks acted within the framework, they would be able to maintain a high exchange rate. The central bank is launching a foreign exchange auction to reduce inflation and increase foreign reserves. The central bank is responsible for its foreign exchange operations, such as raising the exchange rate in the short term; A rule-based foreign exchange auction is underway to reduce inflation and implement the state’s two-pronged foreign exchange reserve.

Source: Daily Eleven

CBM sells $5 million in two days

The Central Bank of Myanmar (CBM) sold US$5 million in two days this month at its FX auction rate, according to the auction results released by the CBM. It sold $3 million at its FX auction rate of K1,647 on 2 August and $2 million at K1,650 on 3 August. In addition, the CBM made six-month record sales of $39 million in July. In June, it reportedly sold $12 million. The CBM’s move is to steer the own currency value and govern the market volatility. The bullish hard currency gained in the local forex market, reaching the peak of K1,730 on 12 May from K1,330 in January-end.

At present, the rate is set at K1,665, although it has not reached the record rate in May. The local forex market’s data showed that the dollar exchange rate touched the maximum of K1,345 and the minimum of K1,327 in January 2021. The rate moved in the range of K1,335-1,465 in February. It reached the lowest at K1,420 and the highest of K1,550 in March, while the rate fluctuated between K1,550 and K1,610 in April. The rate fluctuated between K1,585 and K1,730 in May, and it moved to the maximum of K1,595-1,620 in June.

Last month, the rate stood at the maximum of K1,670 and the minimum of K1,626 in July. In 2020, the exchange rate moved in the range of K1,465-1,493 in January, K1,436-1,465 in February, K1,320-1,445 in March, K1,395- 1,440 in April, K1,406-1,426 in May, K1,385-1,412 in June, K1,367-1,410 in July, K1,335-1,390 in August, K1,310-1,355 in September, K1,282-1,315 in October, K1,303-1,330 in November and K1,324-1,403 in December. In 2019, the rates are pegged at K1,508-1,517 in July, K1,510-1,526 in August, K1,527-1,565 in September, K1,528-1,537 in October, K1,510-1,524 in November and K1,485-1,513 in December. On 20 September 2018, the dollar exchange rate hit an all-time high of K1,650 in the local currency market.

Source: The Global New Light of Myanmar

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Covid-19 protective medicine and equipment, including 12,128 oxygen concentrators, were imported from Yangon Airport and three border trade points on 1 August

The Ministry of Commerce and Industry said that Yangon International Airport and three border trade points in Muse, Myawaddy and Chin Shwe Haw imported 12128 domestic oxygen generators, including Covid-19 vaccines and accessories on 1 August.

5822 Oxygen Concentrators are importet from Yangon International Airport, including 15,000 test kits, and five Bowser vehicles , seven tons of 95-liter oxygen tank; 6,306 home oxygen concentrators, 40 tons of masks were imported from Muse, Myawaddy and Chin Shwe Haw trading points. The above items were imported by 36 buses from 23 companies.

Currently the third wave of Covid-19 disease nationwide and the rate of infection rises, so does the urgent need for oxygen-related drugs for the prevention and control of Covid-19. It is being coordinated with the relevant ministries to import from sea ports and border trade points without delay. According to the Ministry of Commerce,49 million liters of liquid oxygen, 6,505 home oxygen concentrators and 290 tons of masks have been imported from border trade points from 12 to 18 July.

Source: Daily Eleven

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Number of companies registered on MyCO exceeds 3,800 in seven months: DICA

The number of companies registered on the online registry system, MyCO, reached over 3,800 in the past seven months this year, the statistics released by the Directorate of Investment and Company Administration (DICA) indicated. The registration and re-registration of companies on the MyCO website commenced on 1 August 2018, in keeping with the Myanmar Companies Law 2017. During the January-July period, the number of registered companies on MyCO was 1,373 in January, 188 in February, 163 in March, 254 in April, 686 in May, 775 in June and 433 in July, the DICA’s statistics showed. At present, 100 per cent of the applicants are using the online registration platform, the DICA stated.

Last year, the figures of registered companies stood at 1,415 in January, 1,298 in February and 1,015 in March, only 348 companies in April, 798 in May, 1,314 in June, 1,650 in July, 1,551 in August, 1,378 in September, 1,693 in October, 1,099 in November and 1,521 in December, as per statistics of the DICA. In 2019, the figure stood at 1,733 in January 2019, 1,419 in February, 1,108 in March, and over 1,045 in April, 1,411 in May, 1,307 in June, 1,428 in July, 1,302 in August and 1,181 in September. The figures reached a fresh new peak of 2,059 in October 2019. Then, 1,615 new companies in November and 1,772 in December were recorded, data of the DICA showed. When the online registry was launched in August 2018, 1,816 new companies registered on MyCO. The figure stood at 2,218 in September 2018, 1,671 in October, 1,431 in November and 1,364 in December 2018.

In addition, all registered companies need to file annual returns (AR) on the MyCO registry system within two months of incorporation, and at least once every year (not later than one month after the anniversary of the incorporation), according to Section 97 of Myanmar Companies Law 2017. According to Section 266 (A) of the Myanmar Companies Law 2017, public companies must submit annual returns and financial statements (G-5) simultaneously. All overseas corporations must submit ARs in the prescribed format on MyCO within 28 days of the financial year ending, as per Section 53 (A-1) of the Myanmar Companies Law 2017.

As per DICA’s report, more than 16,000 companies were suspended as of September-end for failing to submit AR forms within the due date. Newly established companies are required to submit ARs within two months of incorporation or face a fine of K100,000 for filing late returns. The DICA has notified that any company which fails to submit its AR within 13 months will be notified of its suspension (I-9A). If it fails to submit the AR within 28 days of receiving the notice, the system will show the company’s status as suspended. Companies can restore their status only after shelling out a fine of K50,000 for AR fee, K100,000 for restoration of the company on the Register, and K100,000 for late filing of documents. If a company fails to restore its status within six months of suspension, the registrar will strike its name off the register, according to the DICA notice.

Source: The Global New Light of Myanmar

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Myanmar registers trade surplus of $363.9 mln this FY

Myanmar’s import plunge in the past nine months (1 October-9 July) of the 2020-2021 financial year has resulted in a trade surplus of US$363.9 million, according to data provided by the Ministry of Commerce. Myanmar’s exports surpassed imports in international trade, although trade value decreased compared to the same corresponding period of FY2019-2020. Over the past nine months, the country’s exports were estimated at $11.98 billion, and imports were valued at $11.6 billion this FY. The external trade drastically plunged to $23.6 billion from $29.2 billion recorded in the year-ago period. Myanmar’s trade gap was $1.47 billion in the year-ago period, according to data provided by the Ministry of Commerce.

Myanmar witnessed a slump in exports and imports triggered by the coronavirus impacts this year. Both sea trade and border trade dropped amid the coronavirus impacts and political changes. The neighbouring countries tightened the border security and restricted trading in certain border areas. For maritime trade, disruption in the logistic sector, spikes in container rates and banking restrictions dragged down the trade. Myanmar exports agricultural products, animal products, minerals, forest products, and finished industrial goods, while it imports capital goods, raw industrial materials, and consumer goods.

The country’s export sector relies more on the agricultural and manufacturing sectors. The Ministry of Commerce is trying to reduce the trade deficit by screening luxury import items and boosting exports. The country mainly imports essential goods, construction materials, capital goods, hygienic material and supporting products for export promotion and import substitution. Myanmar’s trade deficit was pegged at $1.3 billion in the 2019-2020FY, $1.14 billion in the 2018- 2019 FY, $1.3 billion in the previous mini-budget period (April-September, 2018), $3.9 billion in the 2017-2018FY, $5.3 billion in the 2016-2017FY, and $5.4 billion in the 2015-2016FY, according to statistics released by the Central Statistical Organization.

Source: The Global New Light of Myanmar

CBM sells $93.8 mln in past six months

The Central Bank of Myanmar (CBM) sold US$93.8 million at its FX auction rate in the past six months (February-July), according to the auction results released by the CBM. In July, the CBM reportedly sold $6 million on 8 July and $3 million each on 5,6,7,14,15,16,26,27, 28, 29 and 30 July in the auction market, totalling $39 million which is the largest amount sold in the past six months. Consequently, the exchange rate stands at around K1,645 in July-end, according to the CBM. The bullish hard currency gained in the local forex market, reaching the peak of K1,730 on 12 May from K1,330 in January-end. In a bid to strengthen the local currency and govern the market volatility, the CBM reportedly sold about 6.8 million dollars on 3 February 2021, $12 million in April, $24 million in May, $12 million in June and $39 million in July in the auction market. 

The CBM trades the foreign currency with the authorized private banks under the rules and regulations of the FX auction market. The currency intervention is required to steer the own currency value. It is one of the responsibilities of the CBM to control the price. This is why the CBM practised the foreign exchange intervention.  The dollar gain will benefit the exporters. Yet, it will hike up the local food prices. The currency intervention is required to steer the own currency value. The current political changes in Myanmar and the COVID-19 impacts affect the currency market. Some people want to hold the hard currency during difficult times, a market observer shared his opinion. The local forex market’s data showed that the dollar exchange rate touched the maximum of K1,345 and the minimum of K1,327 in January 2021. The rate moved in the range of K1,335-1,465 in February.

It reached the lowest of K1,420 and the highest of K1,550 in March. The rate fluctuated between K1,550 and K1,610 in April. The rate fluctuated between K1,585 and K1,730 in May and it moved to the maximum of K1,595-1,620 last month. In 2020, the exchange rate moved in the range of K1,465-1,493 in January, K1,436-1,465 in February, K1,320-1,445 in March, K1,395-1,440 in April, K1,406-1,426 in May, K1,385-1,412 in June, K1,367-1,410 in July, K1,335-1,390 in August, K1,310-1,355 in September, K1,282-1,315 in October, K1,303-1,330 in November and K1,324-1,403 in December. In 2019, the rates are pegged at K1,508-1,517 in July, K1,510-1,526 in August, K1,527-1,565 in September, K1,528-1,537 in October, K1,510-1,524 in November and K1,485-1,513 in December. On 20 September 2018, the dollar exchange rate hit an all-time high of K1,650 in the local currency market. 

Source: The Global New Light of Myanmar

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Myanmar rice market sees flat price amid closure of warehouses

The price of rice in the domestic market is quite stable as the warehouses and the wholesale centres are temporarily shut down amid the COVID-19 surge. High-quality rice is demanded in the domestic market and the price moves in the range of K36,000-42,000 per bag depending on different varieties. The low-quality rice is priced between K21,500 and K33,000 per bag. The price has remained unchanged in recent days and trade is nearly halted as the COVID-19 cases are spiking in the country. Yangon market sees low supply from Pyapon, Mawgyun, Dedaye, Kungyangon, Wakhema, Kawhmu, Twantay, Myaungmya, Kyaiklat, Laputa and Shwebo areas. Next, Border trade disruption led to a sluggish market yet the flat price occurs in the border export market.

The prices of white rice varieties range US$375 to 405 per metric ton, the price of glutinous rice price was priced $600-610 per MT and the broken rice fetched $300-335 per MT depending on the different varieties and quality, according to Myanmar Rice Federation (MRF). The volume of rice and broken rice exported in the nearly eight months (1 October-28 May) of the current financial year 2020-2021 was estimated at over 1.14 million metric tons, generating US$546.6 million income, the Ministry of Commerce reports. The country shipped $576.28 million worth of 1.958 million tonnes of rice and broken rice in the same corresponding period of last FY.  Myanmar exported 802,000 tonnes of rice and 601,000 tonnes of broken rice, totalling 1.14 million tonnes.

The export volume in the past eight months showed a decrease of over 500,000 tonnes as against last FY. At present, rice shipment to European countries is declining. However, Myanmar is mostly delivering rice and broken rice to China, Malaysia, the Philippines and Bangladesh and shipping broken rice to China, Indonesia, Belgium, Senegal and The Netherlands. The market cools down for now due to the transport difficulties triggered by the COVID-19 impacts and Kyat depreciation. China Customs granted licences to 47 Myanmar companies on 26 February 2021 to legally export the rice to China through the Muse land border this year.

The authorized companies for rice export to China increased this year as against last year. However, the permitted volume of rice for exports has not been confirmed yet, Muse Rice Wholesale Centre stated. Moreover, China banned all the border posts on 8 July as Myanmar is battling against the exploding pandemic. As a result of this, the agricultural exports dropped dramatically. Myanmar set the rice export target at only 2 million tonnes in the current FY as summer paddy growing acreage drops. Weather changes affected irrigation water resource availability on agriculture, MRF stated.  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

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Myanmar govt extends entry restrictions for all travellers until 31 Aug

The Central Committee on Prevention, Control and Treatment of COVID-19 has announced that Myanmar has extended the restriction on entry of travellers until 31 August to prevent the spread of COVID-19. The announcement was made by Myanmar’s Foreign Ministry. The Ministry has further extended the entry restrictions for all travellers to the end of August amid the COVID-19 pandemic. All of these restrictions were extended till 31 July 2021 earlier, but the restriction has now been extended until 31 August. Just like the previous announcements, foreign nationals, including diplomats and UN officials, who wish to travel to Myanmar by relief or special flights due to urgent official missions or compelling reasons, are asked to contact the nearest Myanmar mission for possible exceptions to certain visa restrictions.

To prevent the blowout of COVID-19 in Myanmar through air travel, the Ministry of Transport and Communication also issued a further extension of the suspension period of international commercial flights till 31 August. Myanmar has received US$69.2 million as revenue from e-Visa and over 1.7 million tourists applied for e-Visa from 2016 to August 2020, according to the official data of the Ministry of Labour, Immigration and Population. Myanmar National Airlines, which is a state-owned airline, is planning to fly its relief flights to Manila, Singapore and Bangkok in August.

On 3 August, MAN will fly Yangon-Manila-Yangon relief flight for its passengers going to Manila, Philippines and Myanmar citizens who want to return to Myanmar. Besides, the Yangon-Singapore-Yangon relief flight will operate every Monday and Saturday in August while Yangon-Bangkok-Yangon special relief flight will run every Wednesday. Myanmar has reported a total of 294,460 COVID-19 infections, with 8942 deaths as of 31 July. At the same time, a total of 205,677 patients have been discharged from hospitals and recovered from the virus. The government authorities have also imposed a stay home order in 108 townships across the country as part of the measures to control the spreading of COVID-19 infections.

Source: The Global New Light of Myanmar