skynews-covid-coronavirus-vaccine_5246942

As of December 11, a total of more than 18 million people have received the COVID-19 vaccine in Myanmar

As of December 11, a total of more than 18 million people have received the COVID-19 vaccine in Myanmar, according to the Ministry of Health. As of December 11, the first population to be planted in Myanmar was 5,799,482 (5.79 million); 13029777 (13.02 million) people who received two doses of the vaccine.

The total number of vaccinated people was 18,829,259 (18.82 million) and the total number of vaccinations was 31.85 million. The vaccine, which is currently being administered to people aged 40 and over, is now available at nearby health centers. Previously, people over the age of 65 were first transplanted, then reduced to those over 55 years of age; then on October 17 for those over 45 and from November 9 for those over 40.

As of November 21, a total of 31 million COVID-19 vaccines have been purchased by the Ministry of Health, and a total of 9168,800 vaccines received from donations and a total of 40,168,800 immunizations purchased and donated. A total of 24 million COVID-19 vaccines purchased from China have arrived in Myanmar, and about 50 percent of the target groups will be fully vaccinated in December, using these vaccines and existing vaccines.

Source: Daily Eleven

Tax applications of Investment businesses must be submitted directly to the Department of Commerce and the Customs Department starting from December 15

The Myanmar Investment Commission (MIC) has issued Notification No. 26/2021 dated December 20, 2021, stating that businesses operating with the approval and approval of State and Region Investment Committees must apply directly to the Department of Commerce and Customs Department from December 15, 2021, without the need for commission approval under Myanmar Investment Rule 230.

The Myanmar Investment Commission (MIC) has issued this notification to facilitate investment activities by exercising the authority conferred under Section 100 (b) of the Myanmar Investment Law. Investments include business-related equipment; The following must be followed when importing business equipment and raw materials.

Myanmar Investment Commission and Regions; Permission of State Investment Committees; From December 15, 2021, applications must be submitted directly to the Department of Commerce and Customs under the Myanmar Investment Rule 230, without the need for commission approval, except for the import of raw materials for liquor, beer, cigarettes, motor vehicles, motorcycle assembly and import of commercial sugar under the Myanmar Investment Rule 230. The Myanmar Investment Commission (MIC) has announced that the annual raw material requirements of the motorcycle assembly industry and the import of commercial sugar, alcohol, beer, cigarettes and motor vehicles must be submitted to the Myanmar Investment Commission on an annual basis.

Source: Daily Eleven

DSC_4096-mk-scaled

Myanmar’s foreign trade value drops by nearly $322 mln in mini-budget year

Myanmar’s foreign trade value has seen a decrease by nearly US$322 million over the past two months of the current mini-budget period as both export and import decline, according to the official report of the Ministry of Commerce. From 1 October to 26 November in the 2021-22 financial year, the foreign trade value was $4.309 billion, whereas the same period of the last FY saw $4.632 billion.

This year saw a drop of over $321.862 million compared to the same period of last year. This mini-budget year, the export value was over $2.206 billion with a decline of over $113 million, while the import value hit $2.102 billion with a decrease of over $208 million. Myanmar exports agricultural products, animal products, minerals, forest products, and finished industrial goods, while it imports capital goods, raw industrial materials, CMP raw materials and consumer goods.

According to the annual data released by the commerce ministry, the country’s foreign trade value was $18,045.929 million in the 2012-2013FY, $27,714.826 million in the 2015- 2016FY, $29,209.607 million in the 2016-2017FY, $33,578.052 million in the 2017-2018FY, $18,728.815 million in the 2018 mini- budget year and $35,147.012 million in the 2018-2019FY. Agro-based food production, textile and clothing, industry and electronics, fisheries 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) 2020-25.

Source: The Global New Light of Myanmar

mk2-6-scaled

Myanmar yearly ships over 600 tonnes of soft-shell crab to external market

Myanmar has been exporting seafood from Rakhine State to the international markets beyond domestic consumption and an annual export of the marketable soft-shell crab is estimated at over 600 tonnes. The soft-shell crabs from Rakhine State are delivered to the US, Australia, Japan, Hong Kong and the countries in Europe. The crab processing companies produce 15 tonnes per month and approximately 200 tonnes per year in Rakhine State. The crabs are sent to cold storage facilities in Hlaingthaya Industrial Park for good packaging. They are conveyed to Europe and other foreign trade partners. The prices of soft-shell crab are worth around 7 US$dollars per kg. Rakhine State seafood exporters ships a full container load of sliced fish, processed squid and ready-made shrimp cake to Australia, France and Hong Kong SAR every two months.

The exports of soft-shell crabs by the companies in Thandwe city earned US$2.5 million in the 2018- 2019 financial year, $3.8 million in the 2019-2020 FY and $4.66 million in the 2020-2021FY. The soft-shell crab cultivation businesses are found in Ponnagyun and Taungup townships, employing over 1,200 residents. If there is an adequate electric supply in those townships, food processing companies can boost the quality of the products, increase job opportunities and generate revenue. Consequently, it will reduce the production cost as well. The hard-shell crabs are primarily supplied by Pyapon, Bogale, Myaungmya and Labutta townships in Ayeyawady Region and Kyauktan, Kayan and Thongwa in Yangon Region and townships in Rakhine State. They are mostly sent to Chinese and Thai markets. “Rakhine is the main producer of fishery products.

If there is better infrastructure, it will bring about the development in the socio-economy of the state. There is a shortage of power supply in Rakhine State so it has a barrier to make value- added products. We can add core product offerings through value-adds. Over 600 tonnes of soft-shell crabs are placed in European markets. RakhineState Department of Fisheries also focus on the aquaculture to help protect the endangered species population,” said U Thet Oo, head of the department. The department has been implementing the hatcheries for fish, shrimp and soft-shell crab. The companies purchase 80 g sized crabs from Sittway, Ponnagyun, Minbya, Taungup, Yanbye, An and Manaung townships and after 45 days of cultivation, the soft shell crabs are ready to place on market. They are processed in Thandwe cold stroage and cold storage plants in Hlaingthaya Industrial Park in Yangon and they are transported to external market through cold chain. A company usually breeds about 400,000-500,000 crabs in the pond. The Department of Fisheries set three-month offseason for catching crabs between February and April in ordedr to protect the local species.

Source: The Global New Light of Myanmar

Republic of the Union of Myanmar

Central Bank of Myanmar
Notification No 48/2021
11th Waxing of Nadaw 1383 ME
14 December 2021

  1. The Central Bank of Myanmar has issued this proclamation exercising its authority under Sections 17 and 22 of the Foreign Exchange Management Law.
  2. To increase Sino-Myanmar trade and facilitate the flow of goods, Yuan/Kyat direct payments were allowed on the Sino-Myanmar border to facilitate the two countries’ payment and clearing systems and to increase domestic currency in line with the objectives of ASEAN Financial Integration.
  3. Designated banks have been allowed to open yuan accounts of importers and exporters for cross-border trade.
  4. Therefore, the designated banks are required to adhere to the Guidelines for the Direct Use of Yuan/Kyat in Sino-Myanmar border trade.
  5. This notice shall take effect from the date of issue.

Than Nyein
Governor
Central Bank of Myanmar

photo-by-zaw-min-muse-shina-boarder-gate

China will only allow the import of foodstuffs from GACC-listed companies from January 1, so Myanmar exporters will be needed to register

From January 1, only foodstuffs registered with the General Administration of Customs (GACC) of China will be allowed to be imported legally. According to Article 249, from January 1, 2022, China will only allow the import of food items from companies registered with the GACC, Decree No.248 issued by the General Administration of Customs of China (GACC). Food to China Exporters from Myanmar who are exporting / want to export agricultural and livestock products can register their business in China (GACC) through trade associations; Competent Authority is responsible for direct and indirect applications from companies and product groups.

The Food and Drug Administration (FDA) of the People’s Republic of China (PRC) has urged the remaining exporters to register with the Food Exporters’ Registration and Certification Commission for timely registration, as registration of these businesses must be registered with the General Administration of Customs (GACC) by December 31, 2021. Myanmar to export food to China Exporters are required to provide registration information in China, Myanmar Embassy in the Bureau of Import and Export Food Safety (GACC) of the General Administration of Customs; A letter was sent to Beijing regarding the matter.

The accuracy of the application for registration in China; Compliance with the law; The relevant authority or producers of food will be responsible for the quality of the food. Businesses registered to submit to China need to be strictly supervised by the relevant authorities to comply with the relevant regulations. If the registered entities are found to be non-compliant, the relevant authorities should take effective action in accordance with the provisions of Article 22 of the Registration Regulations. 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.

Source: Daily Eleven

0426N-Myanmar-foreign-investment

MIC gives go ahead to 14 foreign projects as of 25 November

The Myanmar Investment Commission gave green light to 14 foreign projects from China, China (Taipei), Hong Kong SAR, Singapore and the Republic of Korea during the period from 1 October and 25 November of the current mini-budget period and the capital of US$65.786 million were brought into the country, including expansion of capital by existing enterprises, according to the Directorate of Investment and Company Administration (DICA).

Those enterprises are to execute in agriculture, livestock and fishery, manufacturing, electricity and other service sectors respectively. The Ministry of Investment and Foreign Economic Relations has been inviting responsible businesses to benefit the country.

The 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. Next, the COVID-19 surge and the political changes led to the drastic fell in this year’s FDI sector compared with that of previous years. Myanmar attracted foreign direct investment of more than $3.79 billion in the last financial year 2020-2021 from 48 enterprises.

Source: The Global New Light of Myanmar

Starting from early December, individual taxpayers will be able to pay taxes online using MPU Debit Card, according to the Internal Revenue Department

From the beginning of December, individual taxpayers will be able to pay taxes online using the MPU Debit Card, according to the Internal Revenue Department. 2021 Starting December 7, individual taxpayers who are paying taxes at 31 Township Revenue Offices in Yangon Region and five Township Revenue Offices in Mandalay Region will be able to pay their taxes through the Start Your Tax Online Payment of the Internal Revenue Department’s website www.ird.gov.mm website www.ird.gov.mm , using the MPU Debit Card e-Commerce . Once the tax has been paid using the MPU Debit Card, the system will first send an e-mail to the taxpayer confirming that the transaction is successful.

Ministry of Planning and Finance The Internal Revenue Department (IRD) aims to streamline tax filing through corporate taxpayers and intermediate taxpayers through electronic payment methods through the Central Bank of Myanmar (CBM-Net). It is possible to pay online using MPU Debit Card. In addition, individual taxpayers will be able to access mobile payment methods, Steps have been taken to pay taxes using electronic payment methods such as MPU e-Commerce. For more information on electronic tax filing, please visit the Internal Revenue Department’s website at www.ird.gov.mm ; Information Team Internal Revenue Department; Office No.-46, Nay Pyi Taw Phone No. 067 – 3430533; 067-3430522. 

People can contact the Information and Technology Division (e-payment Section) at 01-8379021 and the relevant tax office. If we look at the annual revenue collection of the Union, in the 2011-2012 financial year, it was 1691429.766 million kyats, in the 2012-2013 financial year, it was 3373296.761 million kyats, in the 2013-2014 financial year, it was 4458776.351 million kyats. 6517979.368 million in the 2014-2015 financial year; 6314733.657 million in the 2015-2016 financial year; 122430.228 million in the 2016-2017 financial year; 7423724.984 million in the 2017-2018 financial year; 34244206.832 million in the six-month period from April to September 2018; In the 2018-2019 financial year, it received 8360303.568 million kyats. Myanmar’s annual tax revenue was Ks 1683 billion in the 2011-2012 fiscal year. 3373 billion kyats in the 2012-2013 financial year; 4459 billion kyats in the 2013-2014 financial year; 6518 billion kyats in the 2014-2015 financial year; 6315 billion kyats in the 2015-2016 financial year; 7122 billion in the 2016-2017 financial year; 7423 billion kyats for the fiscal year 2017-2018; Between April and September 2018, Ks. 2792 billion; In the 2018-2019 financial year, 7791 billion kyats was collected.

Source: Daily Eleven

On December 9, the Central Bank of Myanmar sold $ 13 million in a foreign exchange auction, up from $ 28 million in two so far in December

On December 9, 2021, the Central Bank of Myanmar sold $ 13 million in a foreign exchange auction, and so far in December, it has sold $ 28 million in two so far, according to the Central Bank of Myanmar. From February to the end of November 2021, the Central Bank of Myanmar sold $ 325.8 million in foreign exchange auctions, the highest amount in October at $ 110 million, according to the Central Bank of Myanmar. The Central Bank of Myanmar sold $ 6.8 million worth of dollars in a foreign exchange auction in February 2021, but not in March. $ 12 million in April; $ 24 million in May; $ 12 million in June; $ 39 million in July; It sold 28 million units in August.

The Central Bank of Myanmar sold $ 15 million on September 13. $ 15 million on September 15; $ 20 million on September 20; $ 22 million on September 22; It sold $ 63 million on September 27 for $ 15 million. The Central Bank of Myanmar sold $ 30 million on November 1. It sold $ 31 million in November for $ 1 million on November 30. 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); Comparing the average Myanmar kyat to the US dollar exchange rate.

By comparison, the percentage increase in the value of the Myanmar kyat exceeds the stipulated level by opening a competitive auction to buy foreign currency (dollars); To buy the foreign currency offered by AD banks between the maximum and minimum exchange rates announced by the Central Bank in the competitive auction. Submissions for sale are purchased and sold by the central bank using the auction system of Refinitiv (formerly Thomson Reuters). For sale Opening; To buy the foreign currency offered by AD banks between the maximum and minimum exchange rates announced by the Central Bank in the competitive auction. Submissions for sale are purchased and sold by the central bank using the auction system of Refinitiv (formerly Thomson Reuters). For sale Opening; To buy the foreign currency offered by AD banks between the maximum and minimum exchange rates announced by the Central Bank in the competitive auction. Submissions for sale are purchased and sold by the central bank using the auction system of Refinitiv (formerly Thomson Reuters).

Source: Daily Eleven

835cd41997efa88c166643bc1ced70a9

Imports down by $208 mln as of 26 November, reports MoC

The value of Myanmar’s imports between 1 October and 26 November of the current mini-budget period 2021-2022 (October-March) plummeted to US$2.1 billion, which reflects a drop of $208 million compared to the year-ago period, the Ministry of Commerce’s data indicated. The import value stood at US$2.3 billion last FY2020- 2021. The imports of capital goods declined last month, while the other import groups (consumer, intermediate goods, and CMP businesses) witnessed a slight increase.

Last month, capital goods, such as auto parts, vehicles, machines, steel, and aeroplane parts were brought into the country. Their import value was estimated at $396.34 million. The figure was over $412 million lower than those values registered in the same period of the previous FY. Meanwhile, Myanmar imported consumer products worth $514.6 million, including pharmaceuticals, cosmetics, and palm oil. The imports of consumer products showed a slight decrease of $13.3 million compared with the same period in the previous FY.

Intermediate goods make up the largest share of Myanmar’s imports, with petroleum products and plastic raw materials being the main import items. This year, imports of raw materials climbed up to $873.4 million from $695.7 million registered during the year-ago period. During the same period, raw materials worth over $318.3 million were also imported for the cut-make-pack (CMP) garment sector, showing an increase of $39.9 million compared with last FY. The top 10 import countries to Myanmar are China, Singapore, Thailand, Malaysia, Indonesia, India, Viet Nam, Japan, the Republic of Korea and the US, as per data of the Ministry of Commerce.

Source: The Global New Light of Myanmar