Solar panels outsell generators in recent sales surge

by ENERGY

SOLAR panels are currently sold more than generators, according to electronic stores. The market has been low at present, but there are more solar panel buyers, said an electronics store owner.
“It has been a couple of months that the market has been low. We normally sell about K30-K40 million a day, sometimes about K20 million. Now the sale has just K8-K10milion recently. There is no sale of generators but solar panels,” he said. People who can afford more buy solar panels that can run air-conditioners. Including batteries that are used with solar panels, other devices have been in high demand in the market, said another electronic store owner.

“At our shop, the battery has also been in high demand. Buyers are from Yangon as well as from other regions and states. The sale of solar panels is larger than the generator sale. Buyers bought small-sized panels previously, but now there are customers for big-sized panels. Our shop is oriented towards the non-Yangon market. Because most of the buyers are from other regions and states,” he said.

Source: The Global New Light of Myanmar

Local and foreign tourist arrivals in Myanmar increase again in 2023, with further improvements expected

by HOTEL & TOURISM

U Hla Myint, deputy permanent secretary of the Ministry of Hotels and Tourism, said that the number of local and foreign tourists had increased back in 2023 and was expected to rise further.

As of November 2023, there were 8.85 million local travellers and over one million foreign tourists.

“Foreign tourist arrivals in 2020, 2021, 2022 and 2023 are 0.9 million, over 0.1 million, over 0.2 million and over 1 million respectively. Most tourists came from China and Thailand. Many Thais visited Myanmar for pilgrimage. We can say that the prospect looks better. The number of local travellers reached 8.85 million by November 2023. That number is larger now. We expect more to travel in 2024,” he said.

For tourism sector development, union-level responsible persons have visited the destination areas and met with operators and respective local governments to promote tourism while also communicating with private organizations to develop foreign tourism industry, said U Hla Myint.

“The ministry alone cannot do for tourism development. We need the cooperation from various departments. Myanmar Travel Association and Myanmar Hoteliers Association, including Myanmar Tourism Federation, also need to participate in the cooperation. Especially, the private sector needs to make more efforts. From the government side, we are doing coordination, relaxation and measures for easy visa. We need to continue our efforts to maintain the momentum,” he said.

Source: The Global New Light of Myanmar

Myanmar entrepreneurs invited to attend Bharat TEX 2024

by EVENT

According to the Myanmar Garment Manufacturers Association (MGMA), Myanmar entrepreneurs, especially from the garment industry, are invited to participate in the Bharat TEX 2024, a global textile mega event, to be held on 26-29 February in New Delhi.
Organized by the Indian Ministry of Textiles, the event is said to be a valuable platform for global industrial businesses. Exhibitions, knowledge-sharing sessions, talks on the respective category, G2G and B2B meetings and networks, product launch ceremonies, pavilions for mutual benefits and exchanges for various sectors, and other activities will be involved at the event.
In addition, the participants and visitors from other countries can study the Indian culture, costumes and traditions at the event. Potential purchasers of Indian textiles, importers, and exporters are projected to exchange information and make a wide network through the event.
Myanmar entrepreneurs from the garment industry involved in the Buyer Delegation Visit led by the MGMA will have a chance to stay three nights in New Delhi free of charge. Event organizers arranged a gala dinner, shuttle to and from the hotel, the airport and the exhibition. However, the potential participants will have to spend the expenses for airport tickets, the MGMA informed.

Source: The Global New Light of Myanmar

Prompt repair and action taken against closed YPS card readers on YBSs

by SERVICES

If machines on YBS bus lines which provide YPS card payment service are closed, and there are  reports  along with vehicle number and bus line number, YPS will check check or repair them and take immediate action in cooperation with respective bus lines, according to Yangon Payment Service-YPS.

YPS responded to a passenger’s comment on its Facebook Page about some YBS buses having closed card readers.

“We have cooperated with respective bus lines in cases of closed readers on YBS bus lines. And we have carried out check or repair at once and taken prompt actions if you have recorded vehicle number and bus line number,” the page replied.

YPS added that it will try to ensure better services.

In order to be convenience of paying bus fares for YBS passenger, YBS card as well as YBS QR code payment service which enables to pay bus fares by mobile phone are available.

YPS QR code payment service was launched for YBS 13, 55, 57 on 11 January, for YBS 63 on 18 January, for YBS 42 and 65 on 19 January, for YBS 22 and 64 on 20 January, for YBS 111, 133 and 134 on 22 January.

Source: The Global New Light of Myanmar

Myanmar entrepreneurs invited to 6th Western China International Fair for Investment and Trade

by EVENT

BUSINESSPERSONS and en­trepreneurs from Myanmar are invited to participate in the 6th Western China Interna­tional Fair for Investment and Trade (WCIFIT), scheduled to be held in Chongqing, People’s Republic of China, on 24 May 2024.

WCIFIT is a national-level international event in west­ern China, serving as a crucial platform for diplomatic, trade, and investment collaboration. It plays a key role in enhanc­ing international and domestic cooperation.

According to the report, there will be a discounted price of 1,500 RMB for a 9-square-me­tre standard booth in the main channel and 1,000 RMB for a 9-square-metre standard booth in the second channel, respectively. As experts and businesspeople from western countries will be attending the event, participants will have the opportunity to engage in discussions on trade and ex­pand their market.

Those willing to partici­pate in the event can inquire at the Union of Myanmar Federa­tion of Chambers of Commerce and Industry.

Source: The Global New Light of Myanmar

Myanmar-Thailand border trade values cross US$3.5 bln in 9 months

by TRADING

Myanmar’s border trade with neighbouring Thailand amounted to US$3.566 billion in the past nine months (April-December) of the current financial year 2023-2024.
The figures plunged from $3.95 billion in the year-ago period, indicating a sharp drop of $385.35 million.
Myanmar conducts cross-border trade with Thailand via the Tachilek, Myawady, Kawthoung, Myeik, Hteekhee and Mawtaung borders. The Hteekhee border performed the largest trade worth $2.2 billion in the past nine months. Moreover, the trade values stood at $997.4 million at Myawady border post, $115.9 million at Tachilek, $93 million at Myeik, $136.23 million at Kawthoung and $15 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

Manufacturing sector exports top US$6.8 bln in nine months

by MANUFACTURING

The export value from the manufacturing sector crossed US$6.8 billion in the past nine months of the current financial year 2023-2024, the Ministry of Commerce’s statistics showed.
Industrial finished goods exports earned $8.569 billion in the corresponding FY period. The figures reflected a significant drop of $1.7 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 for CMP garment factories and consumer goods.
Myanmar has implemented 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

62 investments logged in Yangon Region in 2023

by INVESTMENT

According to statistics released by the Yangon Region Investment Commission, 62 local and foreign investments were made in Yangon Region in 2023.
Of these, 46 were foreign investments, three were joint ventures, and Myanmar citizens made the remaining 13. Most investments were in the electricity, service, and industrial sectors.
These foreign direct investments (FDIs) created over 32,000 job opportunities and came from countries such as China, Japan, South Korea, Thailand, and others.
The endorsed enterprises covered a wide range of sectors, including the distribution of electricity from solar energy systems, oil production from grinding peanuts and sunflowers, purification and manufacturing of palm oil, dyeing and printing on fabrics and textiles, garment factories using the CMP system, warehousing and logistics services, hotels and tourism services, rice grinding and polishing, manufacturing various types of electric wires, manufacturing of aluminium, tin, and copper for export, exporting high-value rubbers, producing and selling cardboards in the domestic market, manufacturing various types of shoes with cut, make, and package systems, manufacturing and exporting construction materials, packaging and exporting fruits and vegetables with cold storage systems, manufacturing instant noodles, manufacturing value-added rice, grinding and polishing beans and pulses for export, and manufacturing construction-used grinding stones.

Source: The Global New Light of Myanmar

MSME products showroom launches to promote local entrepreneurs and boost economy

by ECONOMY

The opening ceremony for the showroom of MSME products on the e-market platform was held yesterday at the MSME Development Centre in Yangon Region. The showroom aims to foster the development of Micro, Small, and Medium Enterprises (MSMEs), expand markets for MSME products, and align with the evolving digital system.
The event was attended by Vice-Chairman of the MSME Development Working Committee, Union Minister for Industry Dr Charlie Than, Patron of the Yangon Region MSME Development Agency Chief Minister of Yangon Region U Soe Thein, officials from the Yangon Region government, and other relevant personnel.
Union Minister Dr Charlie Than stated, “Visitors can view products made with raw materials from respective states and regions in one place. It is designed to be a hub for connecting market networks to promote the country’s economy.”
According to the report, MSME entrepreneurs from states and regions participate in the showroom by showcasing their products. Those interested in selling or distributing these products won’t need to travel to various states and regions. This centralised approach saves time, money, and other opportunity costs since products can be purchased at the centre with the same prices and quality as in the main shops. Foreigners can also observe local products conveniently at the showroom.
The MSME products showroom features 906 products manufactured by 171 MSME entrepreneurs. Following the showroom event, the Union Minister visited a pharmaceutical factory in Insein Township, Yangon. During the visit, he observed the manufacturing processes of tablets, capsules, and caplets and emphasized the importance of continuous manufacturing processes without machine breakdowns. He called for the presence of spare machines and equipment to substitute in case of breakdowns.

Source: The Global New Light of Myanmar

Bagan welcomes 450,000+ domestic tourists

by HOTEL & TOURISM

MORE than 450,000 visitors across Myanmar travelled the Bagan Ancient Cultural Zone last year, according to Assistant Director U Myo Min Aung of the Directorate of Hotels and Tourism (Bagan Branch).

The assistant director stated: “From 1 January to 25 December 2023, we received 457,956 domestic tourists. Lawkananda, Shwezigon and Ananda pagodas were among the most visited.”

He noted that even the Sinbyushin Temple, typically drawing limited interest from travellers, had experienced a surge in visitors.

“The temple could be called a Sangha University during the Bagan era, accommodating nearly 4,000 monks in its heyday. U Kyipwe Pond near Culamani Pagoda became popular among visitors, too,” he added.

Bagan is one of Myanmar’s major tourist destinations and remains bustling with visitors across the country year-round, especially during public holidays.

Renowned for its intact ancient religious buildings, Bagan continues to attract both domestic and international travellers. The Bagan Ancient Cultural Zone has 89 hotels, motels and guesthouses, and 24 municipal guesthouses.

Source: The Global New Light of Myanmar