Historic Konbaung era Kway Chaung fort needs base camp for visitors

by HOTEL & TOURISM

A base camp at the historic Kway Chaung fort of the Konbaung era kings is necessary for tourist recreation and business opportunities, U Kyaw Myo Win, director at the Ministry of Religious Affairs and Culture (Bagan Division) suggested.

Kway Chaung fort was built in 1860. It took three years to build it and it was a historic site as the British naval vessels had to overcome it difficultly due to its strategic location.

Built a year earlier than near-by Minhla fort, Kway Chaung fort was systematically constructed with a specific location for fighting elephants.

“It is a big Konbaung era fort with a very good architect. It needs a base camp for visitors to rest at a distance from the fort without disturbing the view. From this camp, business opportunities for locals such as gift shops, cold drinks, a rest hall or toilets can be arranged. This will reduce the need for public to eat and relieve oneself inside the fort,” he said.

A fort like Kway Chaung, if it were in Europe, could seek world heritage status and there are many forts that have been designated as world heritage sites.

Source: The Global New Light of Myanmar

350 gem trading licences set to expire in Feb

by TRADING

A total of 357 gem trading licences are due to expire in February, Myanma Gems Enterprise notified.
Under the approval of the Ministry of Natural Resources and Environmental Conservation, those holding available licences (gems and jewellery trading licences, manufacturing licences for finished gems and carvings and rough gemstone and finished products trading licences) issued by the Myanma Gems Enterprise need to proceed to the renewal process three months before the expiry date. They must renew them at least one month before the expiry. Additionally, they can notify Myanma Gems Enterprise of winding down a business with one-month notice before ceasing the operation.
Licence renewal applications can be processed at Myanma Gems Enterprise (Nay Pyi Taw), Gems and Jewellery Museum in Yangon and Mandalay office, mining departments in Mogok, Lonekhin/Phakant, Monghsu and Myitkyina areas, in line with the rules and regulations. Those businesspersons holding expired licences in 2020 and 2021 were urged to reinstate them by the end of December with the relevant departments on 22 September 2023. The licences would get revoked unless it is renewed, Myanma Gems Enterprise notified. 

Source: The Global New Light of Myanmar

Kyat-US dollar exchange rate stable at around K3,450

by ECONOMY

Kyat value against the greenback has remained unchanged at approximately K3,450 at the Over-the-Counter market since early December 2023.
Meanwhile, the reference exchange rate of the Central Bank of Myanmar is K2,100.
On 5 December, the CBM allowed authorized dealers (private banks) to operate forex exchanges freely as per the market rate determined by the market force of the supply and demand.
Additionally, the CBM notified that outward remittance must comply with the rules and regulations of the Foreign Exchange Management Committee.
The dollar gained to around K4,000 on 19 August 2023.
Under Section 9 of the Foreign Exchange Management Law, only those entities holding foreign exchange dealer licences are allowed to deal in foreign currency and traveller’s cheques. Those holding foreign currencies without valid licences and permits will face legal actions under the law, according to the CBM’s notification released on 21 August 2023.
According to the notification (7/2014) dated 30 September 2014 issued by the Central Bank of Myanmar, affirmingly stating that under clause 15 of the Foreign Exchange Management Law, domestic residents are allowed to keep US$10,000 in maximum or equivalent amount of foreign currencies for six months. If those foreign currencies that have been unused for over six months have to be exchanged in local currency at the market price through authorized dealers or deposited into bank accounts.
Those illegally holding foreign currencies are to face legal actions under the Foreign Exchange Management Law, the CBM warned again. 

Source: The Global New Light of Myanmar

MR to construct warehouses, distribution centres at railway stations

by CONSTRUCTION

Myanma Railways under the Ministry of Transport and Communications has stated that the Small Warehouses and Distribution Centres will be constructed on the railway sections.
The construction and operation of these centres related to the transport of goods by train will be launched with the principle of a five-year package system at the ten railway stations including the Thilawa-Toegyounggale-Yangon circular train route as well as the railway sections of Yangon-Pyay, Yangon-Mandalay, Yangon-Mawlamyine and Thazi-Myingyan.
Myanma Railways has invited tenders for these projects and those interested can purchase tender forms at the office of the Deputy General Manager (Logistics), Myanma Railways, at Corner of 51st Street and Merchant Street, Botahtaung Township, Yangon, during office hours between 1 and 15 January. The price for a set of tender forms is K500,000 and the deadline for submitting tender proposals is at 2 pm, 1 April 2024.

Source: The Global New Light of Myanmar

STYLE Bangkok 2024 invites Myanmar businesspersons to display local products

by EVENT

Myanmar Trade Promotion Organization notified Myanmar businesspersons of joining STYLE Bangkok 2024 to display Myanmar products.
The lifestyle and fashion exhibition will be held from 20 to 24 March 2024 at Queen Sirikit National Convention Centre (QSNCC) in Bangkok.
The expo will provide four (three by three square metres) booths for free. It is a great opportunity to showcase fashion, leather products, handicrafts, souvenirs, and household goods, and attract new buyers.
Those interested companies need to register at https://mitc.myantrade.gov.mm/member/trade-fair/new and the participants will be selected in order. For further details, the Myanmar Trade Promotion Organization can be reached at phone number 067 408622. 

Source: The Global New Light of Myanmar

Myanmar exports over US$266 mln in 3rd week of December

by ECONOMY

TOTAL export values for Myanmar in the third week of December 2023 exceeded US$ 266 million. Foreign demand for agricultural produce from Myanmar has been on an up-ward trend, given the current new year period. Agricultural produce such as green gram, black gram, pigeon peas, and other beans and pulses, sesame, peanuts, watermelon, cucumber, fruits, raw rubber, and onions, as well as industrial finished products like CMP textiles, have all experienced increased exports.

During this week, a total of 24,779 tonnes of beans and pulses were shipped, earning more than $21 million. Shipments to Pakistan, Thailand, the United Arab Emirates, Vietnam, Canada, the United States, and Japan increased compared to previous weeks.

Demand for sesame has also surged during the new year period. Sesame shipments to China this week exceeded those of previous weeks. Additionally, sesame demand from Japan, Thailand, Singapore, and Chinese Taipei remained high.

Black sesame prices ranged between $ 1,380-$ 1,815 per tonne in the export market, and domestic prices trended upwards in wholesale markets across states and regions, ranging between K295,000 and K340,000 per 45-viss bag of black sesame.

The garment industry plays a crucial role in Myanmar’s economic growth. In the past week, Myanmar earned over $ 82 million from garment exports manufactured under the cut-make-pack (CMP) system, exported to 53 countries. Major orders came from Japan, Poland, South Korea, Britain, and the United States.

The State prioritizes the development of the CMP system to boost the export sector. Apart from garments, the CMP system is used for manufacturing other products in Myanmar, such as electronic products, shoes, bags, wigs, magnifying glasses, and cameras.

Efforts are underway by the Myanmar Garment Manufacturers Association and relevant bodies to transition from the CMP system, involving the entire manufacturing process from receiving raw materials to producing finished products at the factory.

This move aims to develop the domestic industrial sector, ensuring greater profitability for business owners and strengthening the country’s economy.

As part of the State’s efforts to boost the country’s economy across various sectors, the following are prioritized: increasing productivity and the export of rice, beans and pulses, corn, oil crops, rubber, and fruits; raising foreign income from exporting CMP garments; and expanding manufacturing businesses using the CMP system.

Source: The Global New Light of Myanmar

Republic of the Union of MyanmarAnnouncement of Central Committeeon Prevention, Control and Treatment ofCoronavirus Disease 2019 (COVID-19)

by COVID

IT is necessary to control Coronavirus Disease (COVID-19) infection continuously. So, it is
now announced that public requests, orders, notifications and directives (except for easing
restrictions) released by Union-Level Organizations and Union Ministries up to 31 December 2023 have been extended to 31 January 2024 for prevention, control and treatment on
Coronavirus Disease (COVID-19).

Source: The Global New Light of Myanmar

Forty-nine container vessels slated to call in Jan

by LOGISTICS

A total of 49 container vessels are scheduled to dock at the Yangon Port in January 2024, according to the Myanma Port Authority.
In January, seven container vessels each run by Samudera Shipping Line and Sealand Maersk Asia, six by COSCO Shipping Line, five by SITC Line, four each by MSC Line, CMA CGM Line and Ti2 Container Line, three each by ONE Line and RCL Line, two each by Evergreen Line and BLPL Shipping Line, one each by BAY Line and IAI Shipping Line are slated to enter the Yangon Port.
This year, 52 container vessels each in January and February, 55 in March, 50 in April, 56 in May, 57 in June, 53 in July, 54 in August, 53 in September, 49 in October, 50 in November, and 49 in December arrived at Yangon Port, totalling 629 container vessels.
Yangon Port handled a total of 620 container vessels last year. Following the draft extension, the international ocean liners can access the inner port for now, according to the Myanma Port Authority’s statement on 22 June 2022.
After the new navigation channel (Kings Bank Channel) accessing the inner Yangon River was found, the draft extension work was accelerated. After that, the port can now handle larger ships. The container vessel (185.99-metre length overall-LOA, 35.25-metre Beam, 29,232 Gross Register Tonnage-GRT and 2,698 twenty-foot equivalent unit-TEU) Hong-Kong based SITC Shipping Line docked at Asia World Port Terminal for the first time on 22 June, which is the largest ship that AWPT Port handled.
From May 2021, the arrival of the ships at terminals in Yangon has increased again. To fulfill the seaborne trade requirements, three new container vessels by Maersk Line Myanmar (SeaLand Maersk) started to run in 2021. Earlier, the larger ships had draft problems preventing their sailing on the Yangon River. The draft was extended up to 10 metres, so the larger ocean liners could enter the Thilawa Port. 

Source: The Global New Light of Myanmar

Upper Kengtawng Hydropower Plant Project Promises a Brighter Future for Myanmar

by ENERGY

THE Construction Task Force No.5 under the Department of Hydropower Implementation has been
constructing the Upper Kengtawng Hydropower Plant near Kengtawng Town in Shan State (South). The power plant may fulfil both the State’s and the country’s electricity demand by harnessing the power of Namteng Creek. The project has an installation capacity of 51 megawatts with three 17-MW power stations. The electricity produced from the power plant will be transmitted through the national grid by connecting the Namsam Main Power Sub-station via the 230-kV power grid. U Toe Lwin, director of the Department of Hydropower Implementation at the Ministry of Electric Power, said: “We’d finished 80.52 per cent of the project by October 2023. We’ll try to finish it by the end of the financial year 2024-25. We’re trying our best since it can supply our country’s much-needed electricity demand.” The department successfully constructed the 54-MW Kengtawng Hydropower Plant on 26 March 2009.

During the construction of the Kengtawng Hydropower Plant back in 2006, the department’s engineers
conducted an initial survey with experts from the Japan-based Kansai Co Inc to build another power plant on the Namteng Creek. Moreover, the engineers and specialists from the Switzerland-based Colenco Power Engineering Co Ltd studied locations for hydro-powered structures, geological features and quality of construction materials for the Upper Kengtawng Hydropower project in 2009. Similarly, the Japanese NEWJEC and the Norwegian Nor- Consult/Multi-Consult cooperated with the department in building access roads and staff accommodations by producing blueprints and conducting detailed measurements. The director added: “We collaborated with specialists from Japan, Switzerland and Norway for the early initiative. We’re working, but our homegrown engineers carry out the technical and construction works.” The dam installed in the Upper Kengtawng project is 1,800 feet long and 230 feet tall. It’szone-type pebble-filled earthen dam, and all the materials, including rocks and sand used in a barrier, underwent rigorous scrutiny to ensure the highest quality.

The main dam was finished in November 2021. To channel water to the power station, the engineers
excavated an underground tunnel with a length of 1,726 feet and a diameter of 26 feet. So far, every
component of the hydropower infrastructure has been built except the high-pressure steel pipeline, power station and sub-station. To deliver the necessary water volume to the power plant, a vertical conduit with a diameter of 82 feet and a length of 151 feet is being constructed in connection with the tunnel. The civil engineering aspects are completed, and the engineers assemble the gate.
The water stored in the main dam will drive the power stations. To manage excess water during the
rainy season, a 460 foot-wide spillway, designed as a Labyrinth Type Weir and the first of its kind in Myanmar, has been constructed. The engineers are currently applying the finishing touches. Only the high-pressure steel pipe connecting the power station and sub-station is left to be done. The department has procured essential electrical equipment through a contract with the China-based Consortium of DEIC & GF. Approximately 50 percent of the equipment has been successfully delivered. The department has meticulously selected projects with minimal environmental and social impacts. The Upper Kengtawng Hydropower Project, with a storage capacity of 104,000 acre-feet, has a low potential for adverse impact.

The project is expected to improve the quality of life for the local population. Resident U Sai Ponnya supported the project: “When the Upper Kengtawng Hydropower Project is done, we’ll have two hydropower plants here. They’ll enable us to use electricity 24 hours a day. Thanks to this, our towns have become much more developed.” Since electric power plays a crucial role in building a developed country, the department strives to finish the project by the end of the financial year 2024-25. Upon completion, the two hydropower plants will collectively generate 267 million kilowatt-hours annually, capable of supplying electricity to about 700,000 people connected to the main grid. The project can serve the residents of Loilem, Namhsan, and Langkho districts and supply surplus electricity to the broader public via the main grid. Undoubtedly, this initiative is poised to benefit the people through illumination.

Source: The Global New Light of Myanmar

FMI records 68% profit surge, fuelled by financial, healthcare services

by INVESTMENT

HALF-YEAR profit of the First Myanmar Investment Public Co Ltd (FMI Group) up to September 2023
increased more than 68 per cent, and the revenue rose 43.9 per cent compared with the corresponding period last year, the group said on 16 December. FMI earned K229.4 billion and K159.4 billion in this and the previous half of the financial year, respectively, up 43.9 per cent, mainly thanks to financial services (Yoma Bank) and healthcare services (Pun Hlaing Hospital Group). Yoma Bank earned K190.7 billion and K130.4 billion in this and last year’s half-financial year, respectively, a 46.2 per cent increase, mainly due to various bank loans and banking services. Pun Hlaing Hospital Group earned K 38 billion and K 29 billion in this half financial year and last year, respectively, increasing 31.4 per cent, mainly due to medical checkups, emergency treatment, and inpatient and outpatient medical services.

As a result, FMI Group made a gross profit of K90.9 billion, up 68.6 per cent compared with K53.9
billion last year. Memories Group, a travel agency of FMI Group, that has signed management contracts with famous buildings in Yangon, such as Boutique Hotel, Governor Residence and British Club, is expanding its resort services market amid the challenges of declining foreign tourist arrivals and slowing domestic tourism services, it also stated.

Source: The Global New Light of Myanmar