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Myanmar targets 2 mln tonnes of corn export for 2021-2022 season

Myanmar has planned to deliver two million tonnes of corn to the external market in the current 2021-2022 corn season, U Min Khaing, chair of Myanmar Corn Industrial Association said. At present, Myanmar’s corn is exported to China via border posts and they are also conveyed to the Philippines, India, Viet Nam, Laos and Singapore. The corn price remains on the high side compared to the rates recorded in the previous years, U Min Khaing continued. The prevailing prices of corn move in the range of K690-K710 per viss (a viss equals 1.6 kilogrammes), whereas the FOB price is approximately US$240-260 per tonne.

Approximately 2.3 million corns were shipped to the foreign trade partners in the past 2020-2021 (Oct-Sept) financial year, Myanmar Corn Industrial Association stated. Of them, the majority of them went to Thailand and the remaining was also sent to China, India and Viet Nam. Thailand gives green light to corn imports through Mae Sot under zero tariff (with Form-D), between 1 February and 31 August. Thailand has granted tax exemption on corn imports between February and August.

However, Thailand imposed a maximum tax rate of 73 per cent on corn import to protect the rights of their growers if the corn is imported during the corn season of Thailand. During the FY 2019-2020 ended 30 September, the country exported 2.2 million tonnes of corns to the external market, with an estimated value of $360 million, the Ministry of Commerce’s data showed. Myanmar is the second- largest exporter of corn among regional countries. At present, corn is cultivated in Shan, Kachin, Kayah and Kayin states and Mandalay, Sagaing and Magway regions. Myanmar has three corn seasons. The country yearly produces 2.5-3 million tonnes of corn.

Source: The Global New Light of Myanmar

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US dollar against Kyat rises over K1,800 per dollar

The US dollar exchange rate against Myanmar Kyat has risen above K1,800 per dollar in the local currency market, it is learnt. The exchange rate on the US dollar dropped to K1,783 per dollar because the Central Bank of Myanmar (CBM) issued the instruction on 9 November that the foreign exchange transitions must be carried out within ± 0.5 per cent of the reference rate established by the CBM. On 27 November, the exchange rate for US currency has reached K1,802.

The dollar exchange rate against Myanmar Kyat stood at around K1,330 per dollar at the end-January. Then, the dollar’s value reached the highest of over K3,000 per dollar in history last September-end. The CBM has been selling the US dollar in the auction market to control the rise and fall of the exchange rate. The bank reportedly sold $30 million in November in the auction market. Likewise, the bank also sold $110 million in October, $63 million in September and $28 million in August.

Besides, the bank also sold $39 million in July, $12 million in June, $24 million in May, $12 million in April and $6.8 million in February at foreign currency auction system. In the first six months of 2021, the highest and lowest exchange rate is currently fixed around K1,327-1,345 in January, K1,335-1,465 in February, K1,420- 1,550 in March, K1,550-1,610 in April, K1,585-1,730 in May, K1,595-1,620 in June, K1,626-1,670 in July, K1,660-1,682 in August, K1,696-3,200 in September and K1,850-1,990 in October.

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 the last six months in 2019, the rates were fixed 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 a record high of K1,650 in the local exchange market.

Source: The Global New Light of Myanmar

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Imports of petroleum products exceed US$ 2.6 bln in FY2020-2021

Myanmar imported more than US$2.6 billion worth of petroleum products in the financial year 2020-2021, as per the Myanmar Customs Department. At present, the domestic fuel oil price is still bullish as the coronavirus negative impacts sparked oil demand concerns, coupled with Kyat depreciation. The fuel oil was pegged at around K620 per litre for Octane 92, K750 for Octane 95, K660 for diesel and K670 for premium diesel in early February 2021 in the domestic retail market. On 26 Nov, it rallied to K1,310- 1,335 for Octane 92, K1,360-1,385 for Octane 95, K1,265-1,295 for diesel and K1,275-1,305 for premium diesel, according to local fuel oil market.

Domestic oil price is positively related to the global market and the dollar exchange rate. The soaring demand drives up the oil prices rally higher. Additionally, a foreign exchange rate also affects the petroleum price. Kyat is weakening in the local forex market, with around K1,800 per dollar on 26 November. In mid-February, a dollar was worth only K1,430. Normally, Myanmar imports fuel oil primarily from Singapore, with monthly volumes touching 200,000 tonnes for gasoline and 400,000 tonnes for diesel. There are about 2,000 fuel stations and over 50 oil importer companies in Myanmar, Myanmar Petroleum Trade Association stated.

In early June 2021, the Ministry of Electricity and Energy notified the private sector of keeping the oil storage above 35 per cent of the storage capacity of the tanks to avoid the possible discrepancy between demand and supply. Last year, the domestic oil prices have declined to start from January owing to a fall in global oil prices. On 8 January 2020, oil prices were pegged at around K905 per litre for Octane 92, K995 for Octane 95, and K985 for diesel and premium diesel. Following the global market crashing, the domestic oil price plunged to more than 50 per cent in April against January’s prices. In late April 2020, the oil prices touched the lowest of K290-330 per litre for Octane 92, K430-455 for Octane 95, K435- 465 for diesel, and K445-475 for premium diesel, according to the domestic oil market. Ninety per cent of fuel oil in Myanmar is imported, while the remaining 10 per cent is produced locally.

Source: The Global New Light of Myanmar

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DICA directs companies to open corporate accounts

The Directorate of Investment and Company Administration (DICA) notified the companies on 22 November to open corporate accounts, according to its statement. Some companies or organizations established under the Myanmar Companies Law are found to run the business with the personal account of the directors without having corporate accounts. According to Section 5 (A) of the Myanmar Companies Law, a company is a legal entity in its own right separate from its members having full rights, powers and privileges. So, every company is obligated to have separate accounts to hold and manage money made within businesses.

The DICA hereby notified, in exercising the power conferred under Section 462 Subsection (a) (ii) of the Myanmar Companies Law, that a corporate account is required for the companies to deal with financial accounting of the businesses. This notification comprehends every registered company at the DICA. The number of companies registered on the online registry system, MyCO, reached approximately 6,000 in the past ten 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 under the Myanmar Companies Law 2017.

During the January-Octoberperiod, 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, 433 in July, 360 in August, 733 in September and 1,027 in October, 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.

Source: The Global New Light of Myanmar

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Thilawa SEZ attracts US$102 mln in FY2020-2021

Foreign investments of over US$102 million, including the expansion of capital by the existing enterprises, flowed into Thilawa Special Economic Zone under the Special Economic Zone Law and one foreign enterprise was given the go-ahead in the financial year 2020-2021. While the manufacturing sector absorbed the largest share of foreign investments, the investments were also pumped into the trading, other services, logistics, hotels and tourism, and real estate sectors. Japan topped the list of foreign investors so far, accounting for over 33 per cent of the overall investment, followed by Singapore and Thailand.

FDI also flowed into the SEZs from the Republic of Korea, Hong Kong (SAR), the UK, Australia, the UAE, Malaysia, Austria, China (Taipei), Denmark, Brunei Darussalam, Viet Nam, France, Switzerland, and the Netherlands as well. Myanmar is currently implementing three Special Economic Zones — Thilawa, Kyaukpyu, and Dawei. Out of the three, Thilawa is leading to better infrastructure and successful businesses. More than 60 per cent of businesses in Thilawa is domestic-oriented manufacturing enterprises, while 40 per cent are export-oriented manufacturers, according to a press statement issued by Myanmar Thilawa SEZ Holdings Public Ltd in June 2019.

A company exporting at least 75 per cent of the production in value is registered as a Free Zone investor and is exempt from paying corporate tax for 7 years from the time it starts commercial operations. Companies such as logistics, which support export-oriented manufacturing, can also be listed as free zone companies. Domestic-oriented manufacturing companies are regarded as promotion zone companies, and they are eligible for a five-year holiday on corporate tax. Between 1 October and 30 September of the FY2019-2020, eight foreign enterprises were given the green light, ploughing in capitals of $163.277 million.

Source: The Global New Light of Myanmar

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Singapore ranked Myanmar’s second-largest importer in FY2020-2021

Singapore is the second-largest importer of Myanmar in the financial year 2020-2021, with an estimated value of US$2.6 billion, the Ministry of Commerce data showed. During the previous FY, the value of Myanmar’s bilateral trade with Singapore in normal trade and border trade topped $2.8 billion.

The Ministry of Commerce reported that imports surpassed exports in trade with Singapore, with exports reaching $207.4 million and imports valued at over $2.6 billion. Myanmar trade deficit in goods with Singapore was estimated at $2.39 billion. Singapore is Myanmar’s second-largest trading partner in the region, after Thailand.

Myanmar exports agricultural products, footwear, textiles and clothing, minerals, and animal products to Singapore, while it imports plastics, fuel oil, capital goods, intermediate goods, consumer products, metals, and chemicals. Myanmar’s bilateral trade with Singapore has registered $3.8 billion in the 2019-2020FY, $3.5 billion in the 2018-2019FY, $1.99 billion in the 2018 mini- budget period, $3.83 billion in the 2017-2018FY, $2.96 billion in the 2016-2017FY, and $3.69 billion in the 2015-2016FY.

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 522/2021

6th Waning of Tazaungmon 1383 ME

24 November 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 decreasing confirmed patients within 14 days, declining of
    group-wise

infection among the patients, the emphasis of the relevant governments, organizations and people in raising
health awareness during the stay-at-home periods, further finding of decreasing confirmed patients and contact
persons in laboratory tests within 14 days, and active participation of township administration bodies, health
staff, those from relevant departments and organizations and volunteers as well as the people in the prevention
and control of the pandemic were seen.

  1. Hence, the people residing in the following townships of the respective regions and states
    were removed from the list of the Stay-at-Home programmes as of 4 am on 25-11-2021:-

(a) Union Territory, Nay Pyi Taw
(1) Zabuthiri Township
(2) Pyinmana Township
(3) Lewe Township
(4) Tatkon Township
(b) Kachin State
(1) Shwegu Township
(2) Mogaung Township
(3) Myitkyina Township
(4) Waingmaw Township
(c) Kayah State
(1) Loikaw Township
(d) Kayin State
(1) Myawady Township
(e) Chin State
(1) Tiddim Township
(f) Magway Region
(1) Natmauk Township
(g) Mandalay Region
(1) Myittha Township
(2) Madaya Township
(3) Thabeikkyin Township
(4) Meiktila Township
(5) Ngazun Township
(6) Taungtha Township
(h) Mon State

(1) Chaungzon Township
(i) Shan State
(1) Nawnghkio Township
(2) Hsipaw Township
(3) Kengtung Township
(4) Nyaungshwe Township
(5) Taunggyi Township
(6) Yaksawk Township
(7) Muse Township
(8) Lashio Township
(9) Laukkai Township

  1. 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
    the stay-at-home programmes.

Dr Thet Khaing Win
Union Minister

Source: The Global New Light of Myanmar

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In the 2020-2021 fiscal year, the CMP hire-export sector accounted for more than $ 3,609 million in exports, followed by natural gas at over $ 3,119 million

From October to the end of September of the 2020-2021 fiscal year, Myanmar exported more than $ 3,609 million from the CMP garment sector, followed by natural gas with more than $ 3,119 million, according to the Ministry of Commerce. From October to the end of September of the 2020-2021 fiscal year, Myanmar exported $ 3,609.63 million worth of garments from the CMP sub-sector. Exports of natural gas reached $ 3,119.87 million and rice and broken rice $ 700.13 million, according to the Ministry of Commerce. In the fiscal year 2020-2021, Myanmar was the largest exporter of 10 countries with $ 4,905.80 million, followed by Thailand with $ 3,172.26 million, according to the Ministry of Commerce. $ 944.21 million to Japan; $ 836.37 million to India; $ 620.59 million to the United States; $ 426.25 million to Germany; $ 411.71 million to Spain; $ 385.40 million to the UK; $ 366.18 million to the Netherlands; $ 305.76 million was exported to South Korea.

From October 1 to the end of September of the 2019-2020 fiscal year, Myanmar-China trade amounted to more than $ 12.126 billion, and China imported more than $ 6.724 billion worth of imports. From October to September of the 2019-2020 fiscal year, Myanmar-China trade amounted to 12126.278 million US dollars, with exports from Myanmar 5401.943 million and imports from China 6727.335 million US dollars. In the fiscal year 2019-2020, the trade volume between Myanmar and India was over 1,300 million dollars, a decrease of over 130 million dollars from the same period last year. From October 1 to the end of September of the 2019-2020 fiscal year, Myanmar exported $ 616.464 million worth of goods to India, while India imported $ 696.937 million worth of goods, with a total trade volume of $ 1,313.401 million.

In the first six months of the 2019-2020 fiscal year, Myanmar’s major trading partners were China with more than 33 percent, Thailand with 13.6 percent; Singapore 9.7%; Japan and 5.3 percent; India and 4%; Pyidaungsu Hluttaw, 34.3% trade with other countries Public Accounts Joint Committee; According to the findings and opinion report No. (8/2020) regarding the first six months report of the National Plan for the fiscal year 2019-2020. Due to COVID-19, trade between Myanmar and Thailand in the 2019-2020 fiscal year was just over US $ 5,100 million, a decrease of over US $ 350 million from the previous year. The main priority areas of the National Export Strategy 2020-2025 are agro-based food production, textile and clothing sector, industry and electronics, fisheries sector, forest products sector, digital products and services, logistics services, quality management sector, trade Information services and innovation and entrepreneurship.

Source: Daily Eleven

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Myanmar-China Kyinsankyawt border post to resume operations on 25 Nov

Kyinsankyawt border post between Myanmar and China will be reopened commencing from 25 November, said U Min Thein, vice-chair of the Muse rice depot. On 22 November, the border crossing will resume on a trial run starting from 1 pm in the afternoon for three days. “If the trial run of the border post is successfully completed, the border checkpoint will resume its operation on 25 Nov as it is set to be,” U Min Thein elaborated. About 10,000 trucks load of goods, which have been stockpiled in the respective warehouses in Muse 105 mile, will be delivered first, he continued.

China has closed down the remaining land borders (Kyinsankyawt, Wamting) from 8 July 2021 following the COVID-19 cases in Myanmar. On 30 March, Mang Wein, which is a major border crossing between Muse and Kyalgaung areas, was suspended owing to the COVID-19 cases. On 1 April, Nantaw and Sinphyu border checkpoints were suspended operations. As a result of this, the border trade between Myanmar and China was completely halted. The closure of the Sino-Myanmar border trade resulted in job loss of about 400,000-600,000 workers engaged in the Muse land border.

Furthermore, the short-haul trucks from Muse to China were also affected by this consequence. Additionally, traders from the Muse border post were also battered by trade suspension, causing a revenue loss. Myanmar exports agricultural products, including rice, beans and corns, and fishery products such as crab, prawn, etc. Furthermore, Myanmar’s natural gas export to China is also conducted through the Muse-Ruili border. The raw CMP materials, electrical appliances and consumer goods are imported into the country. The land borders next to the Muse border are Nantaw, Sinphyu, Mang Wein, Kyinsankyawt-Wamting and Panseng-Wamting.

Source: The Global New Light of Myanmar

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China heads top-ten counties exported by Myanmar in 2020-21FY

China topped the list of the ten Myanmar’s exported counties with US$4.9 billion, followed by Thailand with $3.17 billion in the 2020-2021 financial year (FY), according to the Ministry of Commerce. The country also exported goods worth $944.21 million to Japan, $836.37 million to India, $620.59 million to the United States, $426.25 million to Germany, $411.71 million to Spain, $385.40 million to the United Kingdom, $366.18 million to the Netherlands and $305.76 million to South Korea, the Ministry’s figures said.

The bilateral trade between Myanmar and China amounted to over $12.13 billion from October to September of the 2019-2020FY, including over $5.4 billion worth of exports and over $6.7 billion worth for imports, according to the data released by the Ministry. In the same period of the 2019-2020FY, the value of border trade between Myanmar and India totalled over $1.3 billion, down over $130 million compared with the same period last year. The Myanmar- India total border trade during the period was shared by Myanmar’s export of $616.46 million and its import of $696.94 million.

Bilateral border trade between Myanmar and Thailand stood over $5.1 billion in the FY2019-2020, which saw a decrease of over $350 million from the corresponding period of last year. The country’s export to neighbouring Thailand reached $3.09 billion while its import shared $2.01 billion. Agro-based food production, textile and clothing, industry and electronics, fishery production, forestry production, digital production and services, logistics services, quality management, trade information services and innovation and entrepreneurship sectors are the main priority areas of the National Export Strategy (NES) 2020-2021. NES programme was launched in 2015 and includes textiles and garments, forestry products, beans, pulses and oilseeds, rice, fishery, rubber and tourism sectors.

Source: The Global New Light of Myanmar