Myanmar Monthly Business Brief, February 2026

Economy

Presidential Election Set for Early April to Form New Government

State Security and Peace Commission Vice-Chairman, Defence Services Deputy Commander-in-Chief, Vice-Senior General Soe Win, held separate meetings with Tatmadaw members and families at local battalions in Nawngwoe, Kengkham and Mongping stations on 25 February 2025. At the meetings, the Vice-Senior General said that upon completion of the election processes, an election will be held, and State responsibilities will be handed over to the party that wins. Arrangements are being made to convene the First Regular Session of the Third Pyithu Hluttaw on 16 March and the First Regular Session of the Third Amyotha Hluttaw on 18 March. The presidential election will be held in early April to form a new government, and State responsibilities will be transferred back accordingly.

Finance

FE market rate stabled; Gold Prices Fluctuate

The kyat stabled around K4,003 per US dollar on average at market rate in February. The Central Bank of Myanmar (CBM) intervened throughout the month, selling millions of US dollars, yuan, and baht to stabilize the exchange rate and support imports of essential goods. CBM injected US dollars 118 million and  Baht 50 million in February, into the edible oil, fuel, and CMP sectors.

Gold prices were increasing throughout the month from 10.6 million kyats in January, closing at 11 million kyats per tickle for selling at the end of February.  Domestic fuel prices increased over K 2400 per litre in Octane and over K 2,500 in diesel in February.

Imported battery vehicles, machinery, and spare parts exempt from customs duty

The Ministry of Finance and Revenue reduced customs tariff to zero on imported battery-operated special-purpose vehicles, municipal vehicles, machinery, related components and spare parts.

According to the ministry’s notification 19/2026, to encourage the number of EV users and improve the related business, the customs tariff rates set on imported battery electric vehicles (BEVs), municipal vehicles and machineries, related components and spare parts having of technical verification by the Ministry of Electric Power and recommendation by the Ministry of Industry in the Myanmar Customs Tariff 2022 have been reduced to zero per cent in accordance with the decision of the Union Government.

The special-purpose vehicles and municipal vehicles and machinery are crane lorries, mobile drilling derrick lorries, concrete mixer lorries, motor breakdown lorries, lorries, fitted with ladder or elevator platform, mobile clinic (medical or dental), mobile bakeries, mobile banks, travelling libraries and mobile showrooms, Bitumen distributor trucks, lorries used for cleansing streets, lorries, cesspool emptiers, spraying lorries, excavators, bulldozers, wheel loaders, vibratory rollers, clamp loaders, motor graders, road rollers compactor, bridge cranes, gantry cranes, tower cranes, piling machines, crawler drills, crawler cranes, overhead travelling cranes, mobile cranes, rough-terrain cranes, forklifts, boom lifts, asphalt finishers, angledozers, stacking machines (rack stacker), stacking machines (reach stacker), scrapers, tamping machines, coal or rock cutters, mechanical shovels, self-propelled shovel loaders, well sinking or boring machines and loader transporter.

The zero per cent customs duty applies to those related components and spare parts: traction battery packs, electric traction motors, the battery management system (BMS), drive control unit (DCU), DC-DC converters, electrical circuit breaker For EV or disconnect parts, charge ports, portable EV chargers, on-board chargers, power inverters, EV connectors, high voltage harness, controllers, the battery cooling system (Thermal), charging cables and charging adapters. Therefore, importers can enjoy tax exemption under the EBVD – Exemption Battery EV Ministry. Exemption code in the MACS system until 31 March 2026, while bringing in the aforementioned goods.

Trade

Myanmar’s rice export bags US$735M in 10 months of 2025-2026FY

MYANMAR’S rice export in the past ten months of the current financial year 2025-2026, beginning 1 April, exceeded 2.3 million tonnes worth US$735 million, according to the Myanmar Rice Federation (MRF). Myanmar conveyed over 142,000 tonnes ($52M) in April, over 529,000 tonnes ($90M) in May, 210,000 tonnes ($71M) in June, over 230,000 tonnes ($77M) in July, over 190,000 tonnes ($65M) in August and 160,000 tonnes ($52M) in September and over 310,000 tonnes ($92M) in October, 263,815 tonnes ($76M) in November, over 331,869 tonnes in December ($99M) and 208,847 tonnes in January 2026 ($60M).

Cars & Spare Parts Expo 2026 accumulates 100 vehicle sales in Yangon

MYANMAR’S Cars and Spare Parts Biggest Expo 2026, held for three days from 20 to 22 February at the People’s Square in Yangon, achieved 100 accumulated vehicle sales, attracting 8,6699 visitors. This expo was managed by SPEC Event Management and jointly organized by the Yangon Region Road Safety Council (MORS), the Myanmar Automobile Manufacturer and Distributor Association (MAMDA), the Yangon Region Automobile Manufacturer and Distributor Association (YRAMDA) and the Myanmar Automotive Components and Accessories Association (MYACSAA).

The expo is crucial for car brokers, traders, car lovers, industry professionals and those interested in the automotive industry to explore, validate and procure the latest in mobility and automotive accessories. The expo showcased Brand New EV Cars, fuel Cars, used Cars, components, spare parts and branded automotive accessories with 60 stalls, strengthening payment security and displaying car insurance policies service.

Manufacturing

Local oil mills meet 30% of domestic demand

DOMESTIC oil mills nearly crushed 300,000 tonnes of edible oil, and production accounts for approximately 30 per cent of the domestic consumption in 2025, according to the Myanmar Edible Oil Millers‘ Association. When reviewing the crushing records of oil mills nationwide for 2025, domestic oil mills achieved about 30 per cent of the domestic market share. This includes oil from sunflower, sesame, groundnut, and soybean. We produced around 280,000 tonnes of oil and over 500,000 tonnes of oilcake. We are also working to improve the quality of the oil, aiming to reduce it by about 5,000 tonnes per month. The Head of State also desires to slash edible oil imports. If domestic oil is distributed through monthly supply channels to grassroots consumers, we can gain more market share. People will then have access to quality oil at reasonable prices.

There are over 4,200 oil mills, including more than 3,600 licensed mills under the Directorate of Industrial Supervision and Inspection and over 600 unlicensed mills. These mills collectively supplied 30 per cent of the domestic edible oil market share in 2025. The State Economic Promotion Fund has established a K50 billion loan scheme for oil mill businesses, covering new mill construction, upgrades, and raw material procurement, at an annual interest rate of five per cent. However, industry sources indicate that oil operators want a slight reduction in palm oil imports to expand their market share. Myanmar‘s annual edible oil demand is estimated at between 600,000 and 900,000 tonnes. The country imports around 500,000 tonnes of palm oil annually.

Energy

Locally Produced Engine Oil, Lubricants Eye Global Accreditation

Efforts are currently being made to obtain international certification for engine oil and lubricants manufactured in the Hlinethaya Industrial Zone and Thilawa Special Economic Zone. Lubricant blending plants of Energetic Alliance Petroleum Products Co Ltd and Hein Engineering Co Ltd from the Hlinethaya Industrial Zone and Pacific-PSP Syntech Co Ltd from Thilawa SEZ import industrial raw materials and blend them locally to produce and distribute engine oil and lubricants.

In order to penetrate international markets, efforts are ongoing for locally produced engine oil and lubricants to meet quality standards and achieve international accreditation. The inferior quality of lubricants directly affects the performance and longevity of machinery, equipment, and vehicles used in agriculture and industry. Substandard products can cause significant damage. Therefore, manufacturers are prioritizing quality control throughout the production process. Furthermore, raw materials sourcing focuses on proper quality documentation and international certificates, and purchasing through contracts.

Raw materials are also stored properly to maintain integrity, while production follows approved formulas to ensure consistency. Finished products are tested to maintain uniform quality standards. Moreover, checking the laboratory equipment to ensure accuracy and compliance with established standards is also conducted.

New electricity tariff adjustments

The Ministry of Electric Power has announced new electricity tariff adjustments, effective from February 1, 2026. For Industrial and Special Economic Zones, electricity from Liquefied Natural Gas (LNG)-powered plants will be provided without interruption, and the rate will be 900 kyats per unit. Industrial and business enterprises located outside industrial zones and special economic zones can apply to the department if they wish to receive a 24-hour electricity supply at the fixed rate of K900 per unit and arrangements will be made accordingly. There is no change in electricity tariffs for households and industries/ business outside IZ.

Transportation

Inauguration of the Myanmar-Korea Friendship (Dala) Bridge in Yangon

The Myanmar-Korea Friendship (Dala) Bridge originated in October 2012, at which time they agreed to undertake a bilateral friendship bridge project. On 19 June 2013, responsible officials from both countries held consultations, approving plans to construct a major river-crossing bridge over the Yangon River with financing from the Republic of Korea’s Economic Development Cooperation Fund (EDCF) loan. With assistance from the Republic of Korea, a feasibility study for the bridge project was launched in April 2013.

The design standards used for the bridge were selected and developed in an integrated manner to be compatible with Myanmar’s road and traffic conditions, geological characteristics and ground-bearing capacity, as well as social and economic factors. Construction of the bridge project commenced on 27 May 2019. The main bridge has a gradient of 5.95 per cent and a length of 6,127 feet, with a total width of 79 feet. It comprises four traffic lanes, each 11 feet and six inches wide, and pedestrian walkways on both sides, each 6.5 feet wide. The bridge can withstand 75 tonnes of load. In addition, water pipelines with a diameter of 1.5 feet have been installed on each side of the bridge to supply potable water from Yangon City to Dala Township.