MGMA to assist ease of import licence for CMP export development

Myanmar Garment Manufacturers Association announces that it will assist in the ease of import licences for necessary inputs for raising the CMP garment export sector.
Under the guidance of the CSS Taskforce secretary, MGMA submitted a letter requesting information to help facilitate the licensing process for importing necessary inputs for the CMP sector to all its member factories and companies on 14 February.
The letter says MGMA would assist in facilitating import licences for necessary inputs such as spare parts, lubricants and chemicals used in CMP garment factories in order to be efficient with the CMP export sector. MGMA members will need to fill out requirements, which are set according to factories, in an Excel sheet and submit a soft copy to mgma@myanmargarments.org by 4 pm, 16 February. MGMA has already sent an Excel file to its member factories’ respective Admin and HR mails.

Source: The Global New Light of Myanmar

MoC UM inspects Myanmar-Korea Friendship Bridge construction

Friendship Bridge (Dala), which will connect downtown Yangon with Dala Township, yesterday.

Firstly, Consultant Engineer Mr Bae explained the project with a PowerPoint presentation to the Union minister and officials at the Yangon end of the bridge.

U Kyaw Kaung Cho, deputy director-general of the Department of Bridges and leader of the project, discussed safety requirements, traffic management strategies, the construction of a 0.5-metre-wide drinking water pipeline, and negotiation plans with the Yangon City Development Committee for a toll plaza on the Dala side.

The Union minister provided the necessary support and observed the completion of the approaching bridge on the Yangon side, ramp bridge, and pier columns.

Additionally, the Union minister visited the Dala bank via boat to inspect the designated area for the toll plaza, approaching bridges, and ongoing projects. Emphasizing the significance of signage and signal lights, he underscored their role in ensuring the safety of boats during the construction phase.

The Friendship Bridge is under construction as per international standards and norms. Given its height of 49 metres clearance to accommodate 15,000-tonne ocean vessels, ramp bridges and approaching bridges are being built to ensure a smooth gradient and safe passage.

Being the tallest bridge in Myanmar, it imposes a maximum speed limit of 50 kilometres per hour on the main and approaching bridges and 30 kph on the ramp bridges for safety.

Source: The Global New Light of Myanmar

Myanmar-Thailand border trade values total US$3.8 bln in ten months

Myanmar’s border trade with neighbouring Thailand amounted to US$3.87 billion in the past ten months (April-January) of the current financial year 2023-2024.
The figures plunged from $4.4 billion recorded in the year-ago period, indicating a sharp drop of $538 million.
Myanmar conducts cross-border trade with Thailand via the Tachilek, Myawady, Kawthoung, Myeik, Hteekhee and Mawtaung borders. Of them, the Hteekhee border performed the most extensive trade worth $2.38 billion in the past ten months. Moreover, the trade values stood at $1.05 billion at Myawady border post, $132.65 million at Tachilek, $113.9 million at Myeik, $171.258 million at Kawthoung and $18 million at Mawtaung.
Myanmar carries out border trade with the neighbouring countries China, Thailand, Bangladesh and India. It exports agricultural produce, livestock products, fisheries, minerals, forest products, finished industrial goods and other goods. At the same time, it brings in capital goods, intermediate goods, consumer goods and raw materials by the CMP enterprises.

Source: The Global New Light of Myanmar

Sino-Myanmar border trade surges in past ten months

The border trade value between Myanmar and China surpassed US$2.839 billion in the past ten months (April-January) of the current financial year 2023-2024, rising from $2.42 billion recorded in the year-ago period, the Ministry of Commerce’s statistics showed.
The figures reflected a remarkable increase of $412.146 million this FY compared to last FY.
Myanmar conducts cross-border trade with neighbouring China via Muse, Lweje, Chinshwehaw, Kampaiti, and Kengtung. The Muse border saw the highest trade figure of $1.836 billion.
The trade values stood at $703.066 million via Chinshwehaw, $36.266 million via Kampaiti, $98.566 million via Lweje, and $64.435 million via Kengtung.
Myanmar has been conducting border trade with the four neighbouring countries: China, Thailand, Bangladesh and India.
Export items are agricultural produce, livestock products, fisheries products, minerals, forest products, manufacturing goods and other goods. In contrast, capital goods, intermediate goods, manufacturing goods and raw materials by CMP enterprises are imported.

Source: The Global New Light of Myanmar

Tourist rescue service launched in Yangon for safety, convenience

Coordination has been made among related departments and associations to provide rescue services for the safety of the tourists in Yangon Region, according to an official from the Myanmar Travel Association (MTA).
While the Ministry of Hotels and Tourism (MOHT) is making necessary arrangements to ensure safe destinations that can attract more tourists for the systematic development of the tourism sector, coordination has been made among related departments and associations to provide rescue services for the safety of tourists in Yangon Region and the ministry has also informed the contact persons and phone numbers for assistance.
“This is for the safety of travellers. If something happens, it includes the contacts list with phone numbers. It is an arrangement by the Tourism Services Committee. Most tour companies are based in Yangon Region, while most tourists come through Yangon Airport. So, the information is published for the security of arriving and departing guests,” an MTA official said.
Currently, tourists from Thailand, Russia and China are the top visitors to Myanmar.
Foreign tourist arrivals in 2020, 2021, 2022 and 2023 (up to November) are 0.9 million, over 0.1 million, over 0.2 million and over one million respectively, according to the MOHT.

Source: The Global New Light of Myanmar

10th Selangor International Expo (F&B) 2024 to be held in Malaysia

The 10th Selangor International Expo (F&B) 2024 is set to take place over four days in Malaysia.
Scheduled from 16 to 19 October 2024, the expo will occupy nearly 500 showrooms across five halls at the Kuala Lumpur Convention Centre. Organizers anticipate hosting over 30,000 guests, with the rental cost for a nine-square-metre showroom priced at US$2,500.
Myanmar businesspersons interested in participating in the expo can reach out via email to hingching@investselangor.my for additional information.

Source: The Global New Light of Myanmar

Exports from manufacturing sector cross US$7.6 bln in 10 months

The export value from the manufacturing sector reached US$7.6 billion in the past ten months of the current financial year 2023-2024, the Ministry of Commerce’s statistics showed.
Finished industrial goods exports earned $9.5 billion in the corresponding period last FY, indicating a significant drop of $1.9 billion this FY compared to the year-ago period.
Myanmar exports agricultural produce, livestock products, fisheries, minerals, forest products, finished industrial goods and other goods. At the same time, it imports capital goods, intermediate goods, raw materials by CMP garment factories and consumer goods.
Myanmar has been implementing the National Export Strategy (NES) 2020-2025 to bolster exports. The priority sectors of the NES comprise agricultural production, garment and apparel, industrial and electronic device, fishery business, forest product, digital manufacturing and service, logistic service, quality management, trade information service, innovation and entrepreneurship sectors. 

Source: The Global New Light of Myanmar

Myanmar investment statistics: Singapore leads, followed by China, Japan

Statistics from the Ministry of Investment and Foreign Economic Relations reveal that Singaporean investments in Myanmar rank highest between February 2023 and January 2024.
The report indicates that China holds the second position in Foreign Direct Investment in Myanmar, with US$236.264 million, following Singapore with US$346.407 million. Japan occupies the third position with US$99.353 million.
From February 2023 to January 2024, 77 businesses were permitted to expand their investments across eight sectors, amounting to US$774.084 million. Of these, US$374.525 million was allocated to the electricity sector, US$189.38 million to the industrial sector, and US$93.276 million to the service sector, as per the report.
During the same period, 74 Myanmar national businesses were given the green light to expand their investments across nine sectors, amounting to K1,295.254 billion. K876 billion was earmarked for the industrial sector, K169.843 billion for the electricity sector, and K117.05 billion for the livestock and fishery sector.

Source: The Global New Light of Myanmar

Myanmar-Russia online business meeting looks for exporting Myanmar’s products to Russia

An online business matching has been conducted between Myanmar and Russian businesspersons on 9 February to discuss measures to export Myanmar’s products to Russia, according to Daw Naw Mutar Kapaw, the director general of Myanmar Trade Promotion Organization of the Ministry of Commerce.
The meeting was titled ‘Agricultural Produce Export from Myanmar to Russia. It was conducted by collaboration between Myanmar and Russian business entrepreneurs, Myanmar Trade Promotion Organization, and Russian Trade Representative Office in Yangon.
Daw Naw Mutar Kapaw said, “This is the very first discussion between Myanmar and Russian traders and it was led by Myanmar side. We will continue making efforts to send representatives mutually for the trade collaboration between the two countries.”
The online business matching was attended by the Director General of Myanmar Trade Promotion Organization and officials, and representatives of the Union of Myanmar Federation of Chambers of Commerce and Industry, Myanmar Rice Federation, Myanmar Pulses, Beans, Maize and Sesame Seeds Merchants Association, Myanmar Fishery Products Processors & Exporters Association, Myanmar Fruit, Flower and Vegetable Producers and Exporters Association, Myanmar Rubber Planters and Producers Association, and Myanmar Coffee Association. The Russian agricultural companies led by Mr Vladimir S Kazadaev, the Russian trade representative virtually attended the meeting.

Source: The Global New Light of Myanmar

Construction begins on bran oil, cooking oil production plant

The construction project for the bran oil and cooking oil production plant has started, according to the Myanmar Rice Federation (MRF).
Under the guidance of MRF, Myanmar Rice Bran Oil Co Ltd (MRBO) held the groundbreaking ceremony of the construction project at MAPCO rice mill complex located in Pyinmana Township, Nay Pyi Taw, on 7 February.
Construction plans of the solvent extraction plant for rice bran oil and cooking oil production were revealed at the ceremony in the presence of the Union ministers for Agriculture, Livestock and Irrigation, for Cooperatives and Rural Development, for Industry and for Commerce and the Nay Pyi Taw Council chairman.
That plant aims to produce 9,000 tonnes of bran crude oil and 6,300 tonnes of edible oil annually. It will become the first-ever refinery for edible oil.
The federation will accelerate bran oil and cooking oil production plans. 

Source: The Global New Light of Myanmar