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Over 9 mln people vaccinated against COVID-19 in Myanmar as of 8 Oct

Myanmar has vaccinated over 9.574 million people against COVID-19 as of 8 October 2021, the Ministry of Health stated. Up to 8 October, there are 4.083 million people who completed full doses of vaccine and about 5.49 million people received single doses of Covid jab, 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 vaccine until 9 October, including two million doses of 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. Besides, Myanmar has already purchased 24 million Sinopharm vaccines from China under the contract system.

As soon as vaccines arrive, Myanmar will administer them to 12 million people aged between 40 and 64. The Ministry added that it plans to vaccinate 20 per cent of the adult population by end of September, 50 per cent of the adult population by the end of 2021, and 70 per cent of the adult population by mid-2021. The adult population includes any persons who are 18 or older. So far, about 9.574 million adults have received two doses of the Covid-19 vaccines, while 36.9 million adults are vaccinated with one dose.

Source: The Global New Light of Myanmar

Fuel prices fall in Yangon

The fuel prices in Yangon City have risen to the recorded high in recent months, but have fallen slightly on recent days, according to filling stations of Yangon. The fuel prices drop recently. The officials notified the stations of selling at normal prices since last month.

According to a taxi driver who has been driving a taxi for over a decade, he has never faced such difficulties before. He stopped his driving as the fuel prices were drastically high last months. Myanmar’s economic market also creeps up faster than the planes. Although it has been creeping up quickly, it drops in a slow momentum. But people get used to facing such case in Myanmar. In September, the Ministry of Commerce and Myanmar Fuel Importers Association jointly conducted the measures to sell the fuel at the fairer prices at 231 filling stations across the nation.

Due to the queuing of vehicles at these designated fuel stations in Yangon, some stations reduce the prices than the fixed ones and liters, according to car owners. At these designated filling stations across the nation including Yangon, they sold at K1,122 per litere for Ron 92 while K1,117per litre for diesel and K1,124 per litere for premium diesel starting 22 September. However, these stations are currently run out of allocated oil and they sell as usual. The fuel prices in Yangon yesterday were K1,455 per litre for 92 octane, K1,490 per litre for 95 octane, K1,470 per litre for diesel and K1,475 per liter for premium diesel. Although the prices of fuel are different depending on the station, they become lower than before.

Source: The Global New Light of Myanmar

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Manufacturing sector attracts $286 mln last FY

Majority of foreign enterprises eye the manufacturing sector for investments in the last financial year 2020-2021, pumping the estimated capital of US$286 million into 27 projects, the Directorate of Investment and Company Administration stated. The manufacturing enterprises and businesses that need large labour force are prioritized, the Myanmar Investment Commission stated. At present, labour-intensive enterprises are facing financial hardship amid the COVID-19 negative impacts and the political changes.

Myanmar’s garment export drastically dropped on the back of slump in demand by European Union market in the previous months. Consequently, some CMP garment factories permanently and temporarily shut down and left thousands of workers unemployed. Nonetheless, the industry is returning to normal after the COVID-19 vaccination programme for the workers, as per the HIS Markit’s September report. Myanmar’s manufacturing sector is largely concentrated on garment and textiles produced on a Cutting, Making, and Packaging basis, and it contributes to the country’s GDP to a certain extent.

Myanmar drew foreign direct investment of more than $ 3.79 billion in the last FY, including expansion of capital by existing enterprises and investments in the Thilawa Special Economic Zone, the DICA’s statistics indicated. Of 48 foreign enterprises permitted and endorsed by MIC and the respective investment committees between 1 October and 30 September of the FY 2020-2021, 27 enterprises pumped FDI into the manufacturing sector. Power sector received six large project and livestock and fisheries sector attracted six projects. Other service sector drew five projects while agriculture sector pulled two projects and one foreign enterprise each entered industrial estate and the hotel and tourism sectors.

Source: The Global New Light of Myanmar

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India-donated 1 mln doses of Covishield vaccine arrive in Myanmar

The Ministry of Health conducts the vaccination programme as per target groups across the nation in an effort to control the disease. Meanwhile, 1 million Covishield vaccines donated by India arrived at Yangon International Airport yesterday, and Director-General Dr Myat Wunna Soe of the Medical Services/Public Health Department received the vaccines. The vaccines will be kept at the Central Cold Room. The officials of the Public Health Department monitor and supervise the vaccine storage to meet fixed standards constantly.

These vaccines will be distributed to regions and states based on requirements via road transport or with the help of Tatmadaw (Air) and Myanmar airways in the cold chain. Moreover, these vaccines will be used for primary target groups and additional groups. As of 9 October, a total of 18 million doses – two million doses of Covishield, 14 million doses of Sinopharm and two million doses of Sinovac purchased by the ministry have arrived in Myanmar.

Moreover, the country received more than six million doses of vaccines donated by China, India and Russia. The officials vaccinated a total of 9,574,393 people until 8 October while 4,083,337 people have been fully vaccinated and 5,491,056 people have received the first jabs of COVID-19 vaccines. Therefore, the total doses of vaccine delivered are 13,657,730 in the country until 8 October. The people are urged to receive the COVID-19 vaccines, and those who have already received the first dose are encouraged to go to the nearest immunization centres and receive the second dose on the scheduled immunization date or near the due date, as well as to actively participate in the vaccination drive.

Source: The Global New Light of Myanmar

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Total border trade value exceeds $9.7 bln this FY

The total border trade value at 18 border trade camps exceeded US$9.7 billion this 2020-21 financial year (FY), according to the Ministry of Commerce. During the period, the country’s export via land borders amounted to $6.49 billion, while its import shared $3.2 billion.

From 1 October to 24 September of the 2020-21FY, the total border trade value amounted to $9.69 billion, down $832 million compared with the same period last year. 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 checkpoints, with Bangladesh via Sittway and Maungtaw and with India through Tamu and Reed border crossings, respectively.

Muse trade camp in the Myanmar-China border reached $3.8 billion, down $1.02 billion compared with the same period last year. Myanmar mainly exports agricultural products, animal products, as well as forest products, minerals, fishery products and manufactured goods, among other things, while capital goods, raw industrial materials and consumer products are imported into the country.

Source: The Global New Light of Myanmar

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Myanmar rice export earns $661.4 mln in eleven months

Myanmar generated US$661.4 million income from exports of rice and broken rice in the past eight months (October-August) of the financial year 2020-2021, according to the Myanmar Customs Department. Border trade disruption led to a sluggish market and the export price dropped. The prices of white rice varieties range from US$340-355 per MT depending on the different varieties and quality, according to the Myanmar Rice Federation (MRF). This year, rice shipment to European countries is declining.

However, Myanmar is delivering rice and broken rice to China and Bangladesh. The market cools down for now owing to the transport difficulties amid the closure of the border posts. The prices of rice last month for Pawsan varieties moved in the ranges of K38,000-57,000 per 108-pound-bag in the domestic market, while low-quality rice fetched K22,300-28,000, MRF data showed. The price indicated a gradual increase. Furthermore, as per the 2020 rice price data, the price of staple rice usually increases in the rainy season.

Consequently, the price gain is seen as expected during the monsoon season of this year, a trader stated. MRF and its affiliated associations sold the rice at a fairer price in Yangon Region, starting from 14 September 2021. Myanmar set the rice export target at only 2 million tonnes in the current FY as summer paddy growing acreage drops as per MRF. Weather changes affected irrigation water resource availability in agriculture. Consequently, the export figures showed a drop of 300,000 tonnes of rice in exports this year. 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’s manufacturing output rose slightly in September, but fell for 13 straight months, according to the survey

Myanmar’s manufacturing output rose slightly in September but fell for 13th straight months, according to the HIS Markit Myanmar Manufacturing PMI, the Manufacturing Purchasing Manager’s Index released on October 1. Myanmar’s manufacturing PMI, the most important indicator of productivity, stood at 41.1 in September, up from 36.5 in August. However, the PMI index remained below 50 points for 13 consecutive months without significant change.

The production situation in Myanmar is the same as in the year 2020. The survey showed a monthly decline since September. The decline in production and new orders in September was significantly weaker than last August. Drops in production and new orders are likely to weaken significantly over the past two months, and efforts to vaccinate could be hampered by a fourth wave. For now, companies are eagerly awaiting the lifting of restrictions and want to resume operations and clear inventories, said an economist at the IHS market.

A look at prices shows that international shortages of raw materials and unfavorable exchange rate speculation have put pressure on inflation, leading to a significant increase in purchasing and selling costs. In response to rising costs, companies raised their sales, becoming the fourth largest in survey history. Sales prices have risen for the 10th straight month. Purchasing Manager’s Index (PMI) New orders Workplace Five indicators are calculated: suppliers’ supply duration and stockpiles. The survey is based on original data collected from industry by HIS Markit and sponsored by Japan-based Nikkei Media Group.

Source: Daily Eleven

2021 Union Taxation Law

Press Release

The State Administration Council approved and issued the Union Taxation Law as the State Administration Council Law No 27 on 30 September 2021. The law came into effect on 1 October 2021.

Source: The Global New Light of Myanmar

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Myawady border trade up by $705 mln in FY2020-2021

The border trade through Myawady between Myanmar and Thailand climbed up to US$1.9 billion between 1 October and 24 September in the financial year 2020- 2021, reflecting an increase of $705.47 million as against a year-ago period. The trade through Myawady border stood at over $1.19 billion in the corresponding period of last FY2019-2020. Myawady-Maesot border trade remains normal amid the COVID-19 restrictions, according to the Myawady Chamber of Commerce. We have experienced trade suspension via Myawady in October 2020. The halt in trading undoubtedly harms the traders and lorry drivers from both sides. It is good that trade does not stop at the present time, said a trader from Myawady.

At present, Myawady border does not have trade barriers except for transaction problem, as per the Myanmar Corn Industrial Association. Myanmar is currently shipping thousands of tonnes of corn to Thailand through the Myawady land border every day. Myanmar is allowed for corn export between 1 February and 31 August with Form-D, under zero tariff. Myanmar corn exports were exempted from tax between February and August. Thailand imposed 73 per cent of tax on corn import to protect the rights of their growers if the corn is imported during the corn season of Thailand, in accordance with the notification of World Trade Organization regarding corn import of Thailand.

During last budget year, Myanmar has increasingly exported corns to Thailand through the Myawady land border. Myanmar’s corn exports to Thailand significantly soared to over 1.2 million tonnes through border crossings between Myanmar and Thailand during October and May period in the FY2019-2020, said an official of the Ministry of Commerce. There are seven border posts between Myanmar and Thailand, Tachilek, Myawady, Kawthoung, Hteekhee, Myeik, Mawtaung and Meisei. Majority of the border trade with Thailand is conducted via Myawady. Myanmar primarily exports corn, natural gas, fishery products, coal, tin concentrate (SN 71.58 per cent), coconut (fresh and dry), beans, and bamboo shoots to Thailand. It imports capital goods such as machinery, raw industrial goods such as cement and fertilizers, consumer goods such as cosmetics and food products from the neighbouring country.

Source: The Global New Light of Myanmar