Private car sales, including EVs, stable; May forecasted improvement

by ENERGY

The sale of private cars, including EVs, has been regular, and it is expected to become active in May, said Myanmar Automobile Manufacturer and Distributor Association’s general secretary U Kyaw Swa Tun Myint.
Currently, commercial-use cars priced around K50 million, private cars priced between K50 million and K100 million and private cars priced between K100 million and K200 million are being sold regularly, he said.
“The sale has been regular. Those who need cars buy. Dealers also buy if they need. There are private car customers, and some buy cars for their business. It is not that the sale has completely stopped, but it runs regularly. No surge has been seen, though the sale has been normal. The sale of cars priced between K400 million and K500 million has been slow, but K100 million-K200 million cars have been sold regularly. EV is a part of the automobile industry, so there are buyers and sellers for EVs,” he said.
If no policy change happens in March and April after the Thingyan period, it is not likely to have an impact on the car market.
As of December 2023, automobile sales have been slowing. Around May after Thingyan, the car market is always lively every year, so there is also a possibility this year, he said.
“Every May, before monsoon season, the car market is always lively. Some buy for their business, such as school ferry services. In previous years, the sale used to be active again in around May. There is a 60 or 70 per cent possibility this year too. In Myanmar, there is a community that wants to enjoy luxury cars, and there is another community that wants to make profits from buying and reselling cars. Vehicles can easily be liquidated. So, people consider buying and reselling cars as a business-like making investment in property and gold,” said U Kyaw Swa Tun Myint.

Source: The Global New Light of Myanmar

Installation of 14MW solar power system planned for Thilawa SEZ

by ENERGY

The Ministry of Electric Power (MoEP) has announced plans to install a solar power system with a capacity of up to 14 megawatts in the Thilawa Special Economic Zone (SEZ) in Thanlyin Township, Yangon Region.
Currently, three plants within the Thilawa SEZ have already installed solar systems, generating approximately two megawatts of power. Further studies conducted by companies in the zone suggest that the solar system has the potential to produce up to 14 megawatts of power.
Myanmar-Japan Thilawa Development Company Limited (MJTD) has confirmed that once the solar system is installed, surplus power will be transmitted and distributed to other factories within the special economic zone through the Ministry of Electric Power’s power lines.
Covering an area of 667.275 hectares (approximately 1650 acres), Thilawa SEZ has attracted investment from 114 companies across 21 countries. Among the economic zones currently being implemented in Myanmar, Thilawa SEZ stands out as the most successful. 

Source: The Global New Light of Myanmar

MoNREC authorizes essential mineral production for cement manufacturing

by MANUFACTURING

The Ministry of Natural Resources and Environmental Conservation (MoNREC) has announced the approval for the production of essential raw mineral resources required for manufacturing cement.
Across regions and states, there are allocated plots for various minerals: 29 for limestone, 13 for quartz and gypsum, 103 for charcoal, two for clay, and two for cast iron and bauxite.
During a coordinating meeting held on 21 February in Nay Pyi Taw, Union Minister for MoNREC, U Khin Maung Yi, stated that the production of necessary raw mineral resources essential for cement manufacturing, such as limestone, charcoal, gypsum, quartz, cast iron, bauxite, and clay, has been authorized.
Currently, there are a total of 19 cement factories across states and regions, including Nay Pyi Taw. Twelve of these are operational, while the remaining seven are temporarily suspended.
Charcoal produced by charcoal factories serves not only the cement industry but also acts as an alternative energy source in metal recycling, brick, cigarette, beverage, tissue, and rubber manufacturing. Additionally, gypsum and quartz find applications in fertilizer production.
Efforts by the ministry and relevant departments are focused on fully operating cement factories, sourcing input materials domestically, ensuring the availability of high-quality input materials and machinery, and improving operational efficiency. These efforts aim to reduce reliance on imports.

Source: The Global New Light of Myanmar

Myanmar foreign trade surpasses US$27B in 11 months

by TRADING

MYANMAR’s external trade with foreign partners reached over US$27.758 billion as of 1 March in the current financial year 2023-2024, beginning 1 April, according to the Ministry of Commerce.
Myanmar’s exports were worth over $13.378 billion, whereas the country’s imports were valued at $14.379 billion between 1 April 2023 and 1 March 2024.
Myanmar’s seaborne trade value crossed over $20.55 billion this FY, while border trade was valued at $7.207 billion.
The trade figure over the past 11 months shrank from $31.36 billion recorded in the corresponding period last FY, indicating a sharp drop of over $3.605 billion.
Myanmar exports agricultural products, animal products, minerals, forest products, and finished industrial goods, while it imports capital goods, intermediate goods, raw materials imported by the CMP enterprises and consumer goods.
Myanmar has been implementing the National Export Strategy (NES) 2020-2025 in order 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

1.5M visitors, including 60,000 foreign tourists, enter Shan State in 2023

by HOTEL & TOURISM

According to the Directorate of Hotels and Tourism, a total of 1.5 million travellers, including more than 60,000 foreigners, entered Shan State in 2023.
Most of the tourist arrivals in Shan State are in eastern Shan, southern Shan, and northern Shan areas. In 2023, a total of 1,413,015 domestic tourists and 68,317 overseas travellers, a total of nearly 1.5 million domestic and international tourists, arrived in Shan State.
Shan State has many places that can be visited all year round, besides the 12-month festivals and the plantations and natural scenery in the highland areas such as Pindaya and Ywangan, and the ethnic dress and lifestyle are attracting tourists.
Out of the 457 hotels and guesthouses licensed by the Ministry of Hotels and Tourism for the convenience of domestic and foreign tourists, 337 hotels and guesthouses are currently open and providing services.
In addition, Shan State’s famous Inlay Lake will host rowing competitions on Saturday and Sunday, according to the Directorate of Hotels and Tourism (Shan State). 

Source: The Global New Light of Myanmar

FDIs in Myanmar surpass US$651 mln in 2023-24FY

by INVESTMENT

According to the Directorate of Investment and Company Administration (DICA), a total of 63 foreign investments, amounting to US$651.9 million, were recorded in the 2023-24 financial year. The majority of these investments were in the industries and electricity sectors.
China and Thailand were the main contributors to foreign investments, with most investments coming from these countries. In the same financial year, there were 69 Myanmar citizen-owned investments worth K1,287.3 billion, surpassing the anticipated K990 billion.
In the 2022-23 financial year, Myanmar received over $1.64 billion in foreign direct investments, primarily from Singapore, China, and Thailand, as per the statistics. 

Source: The Global New Light of Myanmar

Myanmar-Thailand border trade tops US$4.1 bln in 11 months

by TRADING

The figures plunged from $4.99 billion year on year, showing a sharp drop of $857.145 million.

Myanmar’s border trade with the neighbouring country Thailand totalled US$4.136 billion in the past 11 months (April-March) of the current financial year 2023-2024.
The figures plunged from $4.99 billion recorded in the year-ago period, showing a sharp drop of $857.145 million.
Myanmar conducts cross-border trade with Thailand via Tachilek, Myawady, Kawthoung, Myeik, Hteekhee and Mawtaung. Of them, the Hteekhee border performed the most extensive trade worth $2.5 billion in the past 11 months.
Moreover, the trade values stood at $1.097 billion at the Myawady border, $150.597 million at Tachilek, $132.668 million at Myeik, $199.131 million at Kawthoung and $21.6 million at Mawtaung.
Myanmar conducts border trade with neighbouring countries such as China, Thailand, Bangladesh, and India. It exports agricultural produce, livestock products, fisheries, minerals, forest products, finished industrial goods, and other goods, while it brings in capital goods, intermediate goods, consumer goods, and raw materials from the CMP enterprises.

Source: The Global New Light of Myanmar

Plan underway to provide electricity to 900 villages across nation in 2024

by ENERGY

U Maung Win, Deputy Direc tor-General of the Department of Rural Development, announced that steps are now taken to provide electricity to a total of 900 villages nationwide through small-scale home solar systems at a cost of K20 billion in 2024.
The project commenced in the 2016-2017 financial year to bring electricity to villages located more than 10 miles away from the national grid.
“In implementing the project, priority is given to villages that can contribute a specific amount towards the cost. Currently, approximately 10,000 villages (500,000 houses) have been electrified under the World Bank’s programme between the 2016–2017 financial year and the 2021–2022 financial year,” stated U Maung Win. 

Source: The Global New Light of Myanmar

Exports from manufacturing sector surpass US$8.2B as of 1 March

by MANUFACTURING

The export value from the manufacturing sector amounted to US$8.28 billion as of 1 March of the current financial year 2023-2024, , the Ministry of Commerce’s statistics showed.
The export of finished industrial goods was valued at $10.255 billion in the corresponding period last year.
Therefore, the figures reflected a drop of $1.975 billion compared to that of the year-ago period.
Myanmar exports agricultural products, livestock products, fisheries, minerals, forest products, finished industrial goods, and other goods, while it imports capital goods, intermediate goods, raw materials from CMP garment factories, and consumer goods.
Myanmar has been implementing the National Export Strategy (NES) 2020-2025 in order 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 participates in International Fair held in Kunming

by EVENT

The Ministry of Foreign Affairs (MoFA) reported that Myanmar took part in the International Fair held at the Kunming International Academy on 9 March in Kunming, the People’s Republic of China.
The fair aimed to showcase the exchange of traditional culture with a total of 16 countries, including Myanmar.
During the fair, traditional foods, costumes, dances, cultures, handicrafts, and sports from the 16 participating countries were on display.
U Thawdar Aung, Myanmar’s Consul-General in Kunming, along with family members of the consulate-general, participated in the event. They showcased Mohinga (Myanma rice noodle soup), Myanma tea, traditional woodcarvings, gemstone paintings, and traditional Myanma dances. 

Source: The Global New Light of Myanmar