Capture_71

Singapore ranks top investor in past four months

One-listed Singapore enterprise brings in the capital of $275.7 mln into Myanmar during the past four months of the current mini-budget period (Oct 2021-Mar 2022), the Directorate of Investment and Company Administration’s data indicated. Singapore is the top source of FDI so far. China is placed as the second-largest investor of Myanmar with US$109.6 million from 16 enterprises. Those enterprises listed from India, the Republic of Korea, France, Hong Kong (SAR), Nepal, China (Taipei) and Seychelles also made investments this year.

Myanmar has drawn foreign direct investment of more than US$506.82 million from 32 enterprises during the October-January period, including expansion of capital by existing enterprises and investments in the Thilawa Special Economic Zone, DICA’s statistics indicated. Of them, 23 enterprises pumped FDI into the manufacturing sector. Agriculture, power, construction, hotels and tourism received each project, livestock and fisheries sector attracted two projects, and three enterprises made the investment in other service sectors. During the previous financial year 2020-2021, the 14 Singapore-listed enterprises brought in US$429.336 million into Myanmar last financial year 2020-2021, including the expansion of capital by the existing enterprises, the Directorate of Investment and Company Administration’s statistics showed.

Singapore companies mainly put investments into urban development, real estate, power and manufacturing sectors. Singapore stood as the largest foreign investor in Myanmar in the previous years, pulling in the FDI of $1.85 billion in the FY2019-2020, $2.4 billion in the FY2018-2019, $724.4 million in the mini-budget period (April-September, 2018), $2.16 billion in the 2017-2018FY, $3.8 billion in the 2016-2017FY, $4.25 billion in the2015-2016FY, $4.29 billion in the 2014-2015FY, $2.3 billion in the 2013-2014FY and $418 million in the 2012-2013FY respectively. Additionally, Singapore emerged as the second-largest foreign investor in the Thilawa Special Economic Zone, after the top investor Japan. The investors can inquire about the investment through the contact number of Myanmar Investment Commission (+95 92023821, and +951658132) located on Thitsar Road, Yankin Township or via the following email address (dica@mptmail.net.mm or dica.ip.mm@gmail.com).

Source: The Global New Light of Myanmar

img_54fa11a766ced

Rubber price in bull market on strong foreign demand

The price of rubber remained upward trend as there is a steady demand by China and Kyat devaluation against the US dollar continues, according to rubber traders. The prices of Local 3 and Ribbed Smoked Sheet 3 varieties which is highly demanded by China hit above K1,100 per pound on 11 February. After the suspension of trade between Myanmar and China amidst the COVID-19 consequences last year, the trade channel has been reopened again in the present. Myanmar daily delivers rubber, various beans and pulses, dried plum, watermelon, muskmelon and other food commodities to China through the Kyinsankyawt border.

Mon State is the top producer of rubber in the country, accounting for over 240 million pounds of rubber per year, as per data of Mon State Agriculture Department. The National Enlightenment Institute (NEI), a non-profit organization based in Mon State, has been receiving technical assistance from PUM Netherlands Senior Experts to enhance the rubber industry since May 2021, according to Mawlamyine Commodity Centre. Rubber is commonly produced in Mon and Kayin states and Taninthayi, Bago, and Yangon regions in Myanmar.

As per 2018-2019 rubber season’s data, there are over 1.628 million acres of rubber plantations in Myanmar, with Mon State accounting for 497,153 acres, followed by Taninthayi Region with 348,344 acres and Kayin State with 270,760 acres. About 300,000 tonnes of rubber is produced annually across the country. Seventy per cent of rubber produced in Myanmar goes to China. It is also shipped to Singapore, Indonesia, Malaysia, Viet Nam, the Republic of Korea, India, Japan, and other countries, according to the Myanmar Rubber Planters and Producers Association. Myanmar shipped 303,293 metric tons of rubber to the foreign trade partners and generated more than US$449 million in revenue in the previous financial year 2020-2021, which is an increase of $184.6 million worth of 89,880 MT compared to the FY2019-2020, according to Myanmar Customs Department’s statistics.

Source: The Global New Light of Myanmar