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Exports of cattle, animal products down by $88.9 mln in FY2020-2021

Myanmar’s exports of animal products in the financial year 2020-2021 touched a low of US$18.8 million, a sharp drop of $88.9 million compared with the corresponding period of the 2019-2020FY since livestock trading was suspended by China. In the 2019-2020FY, animal products exports were registered at $107.7 million. Animal products exports are solely driven by the private sector. Live cattle trade is booming on Myanmar’s black market, with 2,000 heads of cattle daily sent to China, said U Soe Naing, chair of Mandalay Region Cattle Exporters Association. Chinese traders are constantly purchasing cattle on the black market across the border between Myanmar and China, despite the suspension of cross-border trade. At present, the black market has been stronger. The legitimate market has halted since late 2020.

Following about 15,000 heads of cattle stranded in Muse last year, traders embarked on illegal sales. Around 6,000 heads of cattle are still stuck in Muse, he continued. For legitimate trade, China permits live cattle import only after ensuring the cattle is free from 20 diseases, including Foot and Mouth Disease, along with vaccination certificates, health certificates, and farming registration certificates. Those import criteria do not matter on the black market. Myanmar’s live cattle export is heavily relying on the China market due to a good price although Myanmar has other external markets such as Laos, Thailand, Malaysia and Bangladesh. The Ministry of Commerce grants a permit to each company for 100 cattle export and the permit is valid for three months.

The companies can be taken legal action if they do not sell the cattle during the three months. Live cattle export was allowed in late 2017, with a view to eradicating illegal exports, creating more opportunities for breeders and promoting their interests. The country exports cattle that are above five years old, along with vaccination certificates, health certificates, and farming registration certificates. According to the 2018 cattle census, there are 11.5 million heads of cattle in the country. The authorities have issued cattle export licences to more than 300 companies in the Magway region. There are around 5,000 companies holding cattle export licences across the country. Since 2017, Myanmar has exported more than 540,000 heads of cattle beyond domestic consumption, the association stated. The Ministry of Agriculture, Livestock and Irrigation will also strive for investments in dairy farming and value-added production businesses.

Source: The Global New Light of Myanmar

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Myanmar receives over 12.38 mln jabs of COVID-19 vaccine till 23 Oct

A total of over 12.38 million jabs of the COVID-19 vaccine has been administered in Myanmar till 23 October, according to the Ministry of Health. As of 23 October, there were 5.7 million people who had received two doses of the vaccine and 6.68 million people who had received one dose, over 12.38 million in total, according to the Ministry. Fifty per cent of the total population is expected to get vaccinated at the end of this year. The country has already received 18 million doses of vaccines till 23 October, including two million doses of the Covishield vaccine, 14 million doses of Sinopharm vaccine and two million doses of Sinovac vaccine.

Myanmar has also accepted over six million doses of COVID-19 vaccines from China, India and Russia, according to the Ministry. Further, Myanmar has already purchased 24 million Sinopharm vaccines from China under the contract system. As soon as the vaccine arrives, Myanmar will offer vaccines to 12 million people aged between 40 and 64. The country has been administering vaccinations since January 2021, using the China-made Sinopharm and Sinovac vaccines, across the country.

World Health Organization already allows China-made Sinopharm and Sinovac COVID-19 vaccines for use in emergency cases. The WHO also recommended that above aged 18 people can get two kinds of Sinopharm and Sinovac COVID-19 vaccines. Besides, efforts are being made to increase the number of vaccines available and coordinate the purchase of vaccines. Since 14 September, the target groups are being vaccinated for the first time with the COVID-19 vaccine. The number of COVID-19 cases and deaths globally slightly decreased by 10 per cent each in last week, according to the WHO’s weekly report on COVID-19 released on 28 September.

Source: The Global New Light of Myanmar

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Government of the Republic of the Union of Myanmar Ministry of Health

Order No 465/2021


7th Waning of Thadingyut 1383 ME
27 October 2021

The Ministry of Health hereby announced the order by exercising the authority stipulated in Sub-Section (b) of Section 21 of the Prevention and Control of Communicable Diseases Law.

  1. The Ministry of Health has taken preventive measures against Coronavirus Disease 2019 (COVID-19) in real-time. Therefore, the orders were issued for the people from some townships of Nay Pyi Taw, regions and states to stay at home in order to more effectively control the infection of the pandemic.
  2. However, as the people from these townships exactly abide by the disciplines of preventing the COVID-19, further finding of confirmed patients within 14 days, declining of group-wise infection among the patients, emphasis of the relevant governments, organizations and people on raising the health awareness during the stay-at-home period, further finding of confirmed patients and contact persons in laboratory tests within 14 days, and active participation of township administrative bodies, health staff, those from related departments and organizations and volunteers as well as the people in the prevention and control of the pandemic were seen.
  3. Hence, the people residing in the townships of the following regions and states were removed from the Stay-at-Home programme as of 4 am on 28-10-2021.
    (a) Chin State
    (1) Tonzang Township
    (b) Sagaing Region
    (1) Homalin Township
    (c) Bago Region
    (1) Toungoo Township
    (2) Kyauktaga Township
    (3) Nyaunglebin Township
    (4) Waw Township
    (5) Minhla Township
    (6) Letpadan Township
    (7) Thayawady Township
    (8) Okpo Township
    (d) Magway Region
    (1) Pwintbyu Township
    (e) Mandalay Region
    (1) Chanmyathazi Township
    (2) Chanayethazan Township
    (3) Pyigyitagun Township
    (4) Maha Aungmye Township
    (5) Aungmyaythazan Township
    (6) Patheingyi Township
    (7) Amarapura Township
    (8) Myingyan Township
    (9) Pyawbwe Township
    (10) Yamethin Township
    (f) Mon State
    (1) Thaton Township
    (g) Yangon Region
    (1) Taikkyi Township
    (2) Mingaladon Township
    (3) Shwepyitha Township
    (4) Hlinethaya Township
    (5) Insein Township
    (6) Tamway Township
    (7) South Okkalapa Township
    (8) Dagon Myothit (North) Township
    (9) Mingala Taungnyunt Township
    (10) North Okkalapa Township
    (11) Yankin Township
    (12) Thakayta Township
    (13) Thingangyun Township
    (14) Kayan Township
    (15) Kamayut Township
    (16) Kyimyindine Township
    (17) Sangyoung Township
    (18) Bahan Township
    (19) Mayangon Township
    (20) Hline Township
    (h) Ayeyawady Region
    (1) Bogale Township
    (2) Hinthada Township
  4. The people must strictly abide by the disciplines related to the prevention and control of the COVID-19 issued by the Ministry of Health after removing these townships from the list of stay-at-home programmes.

Dr Thet Khine Win
Union Minister

Source: The Global New Light of Myanmar

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Myanmar’s border trade reaches over $135 mln in mini-budget year

Myanmar’s trade with neighbouring countries through land borders reached over US$135 million as of 15 October in the mini-budget year of 2021-2022 or transition period from October to March this year, according to figures released by the Commerce Ministry.

During the period, the country’s export via border gates amounted to $60.21 million while its import shared $75.07 million. This financial year’s border trade decreased by over $358 million, compared to the same period of last FY when it amounted to $493.48 million, the ministry’s figures said.

Myawady topped the list of border checkpoints with the most trade value of $102.05 million, followed by Kawthoung with $13.41 million. Myanmar mainly exports agricultural products, animal products, marine products, minerals, forest products, manufacturing goods and others to foreign trade partner countries while capital goods, intermediate goods and consumer goods are imported into the country.

The country conducts border trade with neighbouring China through Muse, Lwejel, Kampaiti, Chinshwehaw and Kengtung; with Thailand via Tachilek, Myawady, Kawthoung, Myeik, Hteekhee, Mawtaung and Meisei border checkpoints, with Bangladesh via Sittway and Maungtaw and with India through Tamu and Reed border crossings, respectively.

Source: The Global New Light of Myanmar

Exchange rate on US dollar stands below K2,000

The exchange rate on US dollar dipped below K2,000 in the local forex market when a US dollar index hovered around 93 points and the Central Bank of Myanmar sold US$30 million to the authorized dealers at its auction rate of K1,800 last Friday (22 October). The CBM exercised foreign exchange intervention to steer the own currency value and sold $80 million to the private banks in October, as per money exchangers. Last September-end, a dollar’s value reached the highest of over K3,000 in history.

The CBM, therefore, sold $63 million to the banks in September. The CBM sold the foreign currency to the prioritized sectors (palm oil, fuel oil and pharmaceuticals) at an auction rate through the authorized banks every week. In August, the CBM reportedly sold $28 million at its auction rate. Kyat is weakening in the local forex market. In a bid to control the dollar gain against Kyat, the CBM 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 respectively.

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-K1,465 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 in the maximum of K1,595-K1,620 in June. The rate stood at K1,626-K1,670 in July. It hit the lowest of K1,660 and the highest of K1,682 in August. Last month, the rate edged up to K3,200 and fell to K1,696.

Source: The Global New Light of Myanmar

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Myanmar-Thai border trade drops $76 mln in mini-budget year

Trade volume between Myanmar and Thailand in the 2021 minibudget year (October-March) hit a total of US$72.67 million in total, according to the Ministry of Commerce. Compared to the same period of the 2020-2021FY, this minibudget year’s figures declined by $76 million. The bilateral border trade hit $148.78 million last year.

The country’s export to Thailand reached $32.19 million, while imports hit $40.48 million, Ministry of Commerce statistics show. The county mainly conducts border trade with Thailand through seven land borders – Tachilek, Myawady, Kawthoung, Myeik, Hteekhee, Mawtaung and Meisei. From 1 October 2021 to 8 October 2022, Myawady border point topped the trade with $55.9 million, followed by Kawthoung with $7.99 million and Myeik with $5.9 million.

Among three border trade checkpoints along the border between Myanmar and Thailand, the Myawady-Mae Sot route is the most important, carrying around 70 per cent of trade between the countries. Myanmar’s export to Thailand were primarily agriculture and livestock products, and imports from Thailand were mainly non-alcoholic beverages, fabric and yarn, motorcycles and related parts, and construction materials. Thailand is Myanmar’s secondlargest trade partner and third-largest foreign investor. Meanwhile, Myanmar is conducting border trade with neighbouring India, China and Bangladesh via a total of 16 border checkpoints.

Source: The Global New Light of Myanmar

On October 22, the central bank sold $ 30 million at a foreign exchange auction, with an average exchange rate of 1,800 kyat

On October 22, 2021, the central bank sold $ 30 million at a foreign exchange auction, with an average exchange rate of 1,800 kyats. On October 18, the Central Bank of Myanmar sold a record $ 50 million a day at a foreign exchange auction, with an average exchange rate of 1,820 kyat. The Central Bank of Myanmar has sold up to $ 264.8 million in foreign exchange auctions from February 1 to October 22, 2021, according to data released by the Central Bank of Myanmar. The central bank sold $ 6.8 million in February 2021 at a foreign exchange auction, but not in March. $ 12 million in April; $ 24 million in May; $ 12 million in June; $ 39 million in July; 28 million in August; It sold $ 63 million in September.

Rules for Central Bank Competitive Auction Instructions have been set out and these rules and regulations are in place. In accordance with the instructions, the foreign currency licensed (AD) banks involved in the foreign currency auction are: three state-owned banks; Buying foreign currency with 19 local private banks and 13 foreign bank branches; And sales. The Central Bank of Myanmar’s foreign exchange operations include short-term exchange rate fluctuations; Comparing the exchange rate of Myanmar kyat with one US dollar to the previous day reference exchange rate to reduce depreciation; By comparison, the percentage devaluation of the Myanmar kyat exceeds the stipulated level (opening a competitive auction for the sale of US dollars, the percentage of appreciation of the Myanmar kyat exceeds the stipulated conditions).

Comparing the average Myanmar kyat to the US dollar exchange rate; By comparison, the percentage increase in the value of the kyat against the conditions set by the government has led to the opening of competitive bidding for foreign currency (dollars); To buy foreign currency submitted by AD banks between the highest exchange rate and the lowest exchange rate announced by the Central Bank in the competitive auction. Submissions for sale are purchased and sold by the central bank using the Refinitiv (formerly Thomson Reuters) auction system. For sale Short-term rise in foreign exchange rates; To reduce overcrowding. Opening a tender to buy foreign currency (dollars) if it exceeds the limit; 

To buy foreign currency submitted by AD banks between the highest exchange rate and the lowest exchange rate announced by the Central Bank in the competitive auction. Submissions for sale are purchased and sold by the central bank using the Refinitiv (formerly Thomson Reuters) auction system. For sale Short-term rise in foreign exchange rates; To reduce overcrowding. Opening a competitive auction to buy foreign currency (dollars) in excess of the limit; To buy foreign currency submitted by AD banks between the highest exchange rate and the lowest exchange rate announced by the Central Bank in the competitive auction. Submissions for sale are purchased and sold by the central bank using Refinitiv (formerly Thomson Reuters) auction system. For sale Short-term rise in foreign exchange rates; To reduce overcrowding. Rise in foreign exchange rate; To reduce overcrowding. Rise in foreign exchange rate; To reduce overcrowding.

Source: Daily Eleven

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200 companies struck off register due to AR absence in mid-Oct: DICA

A total of 200 companies was struck off the register in mid-October as they fail to submit an annual return (AR) on the online registry system, MyCO, according to the Directorate of Investment and Company Administration (DICA). The DICA has notified any registered company which fails to submit its AR on MyCO are to be suspended. The DICA found that 200 companies failed to restore their status within six months of suspension under 430 (F) of Myanmar Companies Law in September. The companies were struck off the register starting from 11 and 15 October respectively. Also, 900 companies were struck off in July, August and September, according to the DICA’s notification.

All registered companies need to file 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 the law. 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 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, totalling K250,000.

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. The registration and re-registration of companies on the MyCO website commenced on 1 August 2018, in keeping with the Myanmar Companies Law 2017. The number of companies registered on the online registry system, MyCO, topped more than 2,000 in the first half of this year. Earlier, MyCO received more than 1,000 applications from new companies every month. At present, 100 per cent of the applicants are using the online registration platform, according to data provided by the DICA.

Source: The Global New Light of Myanmar

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Two border trade posts in Rakhine State resume, opening business opportunities for fish farmers

Export of fishery products from Sittway to Bangladesh, which was suspended almost three months due to the skyrocketing infection rate of the COVID- 19 disease, has resumed since 18 October, opening up business opportunities for fish farmers and entrepreneurs. In the 2019-2020 financial year, 7,093.413 metric tons of freshwater fish worth US$ 6.318million were imported through this border.

As the COVID-19 cases were on the rise, exports from Rakhine State to Bangladesh were suspended from 15 July 2021, while 5,010.7 metric tons of freshwater fish worth $ 4.760 million were shipped to Bangladesh. Through two border trade posts in Rakhine State, Myanmar mainly exports onion, tamarind, dried plum, dried fish and freshwater Rohu fish, and about 70 per cent of the export value of Rakhine State is the freshwater Rohu fish.

The regional government of Rakhine State has made efforts to reopen two suspended trade posts in Rakhine State and it was allowed to reopen under the COVID-19 rules and regulations by the State Administration Council on 12 October 2021. Following the coordination meeting of the Ministers of the Rakhine State government, officials from relevant departments and the Rakhine State Chamber of Commerce and Industry, border trade camps have been opened since 14 October with amended regulations to revive the border trade.

Fishing vessels from Yangon have arrived in Sittway on 17 October and the Rakhine State Fisheries Department has conducted necessary screenings. Beginning 18 October, 44.80 metric tons of freshwater Rohu fish worth $ 53,904 were exported to Bangladesh. Reopening of the border trade camps in Rakhine State is benefiting fish farmers in Yangon and Ayeyawady regions whose farms were affected amid a surge in the COVID-19 outbreak, in addition to generating foreign income for the country and opening business opportunities to fish farmers, entrepreneurs, and residents.

Source: The Global New Light of Myanmar

YGEA discusses paper gold investment

Yangon Region Gold Entrepreneurs Association (YGEA) is making an effort for paper gold investment at a bank over physical metal, the association stated. The association met the officials of Shwe Bank on 16 October regarding the paper gold scheme.

Paper gold is an asset that reflects the price of gold without physically owning the gold. A gold certificate will be issued by the Bank to the investors, said U Myo Myint, chair of YGEA. The paper gold investment can be seen in international trading. To implement this scheme, the association submitted a report to the Central Bank of Myanmar. Laws and rules are required to be drafted again.

Paper gold trading is a safe investment that guarantees the quality and value of the asset, held by the bank. At present, the price of gold in the domestic market remains in a high trend, tracking the spike in global prices and Kyat weakening on the US dollar. The price of precious pure gold metal touched a high of K1,840,000 per tical (0.578 ounces, or 0.016 kilogrammes), as per the YGEA. The global gold price stood at above US$1,766 per ounce, while a US dollar exchange rate was around K2,000.

Source: The Global New Light of Myanmar