DPM MoTC Union Minister inspects Yangon-Mandalay railway upgrade project, installation of road signs on Nay Pyi Taw-Yangon expressway

by CONSTRUCTION

State Administration Council Member Deputy Prime Minister Union Minister for Transport and Communications Admiral Tin Aung San inspected the Yangon-Toungoo railway section of the Yangon-Mandalay railway upgrade project and installation of road signs on Nay Pyi Taw-Toungoo expressway and Bago-Yangon Union Highway sections yesterday.
During the inspection tour on the installation of road signs, directions and signals along the highway, the chief engineer reported on the installation processes along the highway and at Milepost 167 for the road safety of the public as per the rules and instructions.
At the briefing hall of Bago-Nyaunglebin (CP-102) of Yangon-Toungoo railway upgrade project phase 1 in Pyuntazays of Nyaunglebin Township, the Managing Director of Myanma Railways and respective engineers explained the progresses in Yangon-Toungoo railway section of Yangon-Mandalay railway upgrade project phase 1 and coordination to complete the operations within the fixed period.
Then, the Deputy Prime Minister stressed the need to cooperate with the departmental officials, project advisory board and contractors to accelerate the work processes as the accurate design, quality construction materials and skills of labours are the key role and implement the prioritized plans to develop the railway transportation sectors. He also gave foodstuffs and fruits to the project officials.
He also inspected the 380 feet long Yenwe Creek Bridge (No 116-B) between DaikU and Einchaylayse railway stations and Level Crossing No 51 on the DaikU-Sittoung road section and provided foodstuffs to the labourers at work sites.
On arrival at the briefing hall of the junction of Yangon-Mandalay highway and Bago inner road in Bago, the director of the Bago Region Highways Department reported on the installation of road signs and signals in the region to ensure road safety for the public. Then, the Deputy Prime Minister offers instructions.
The Admiral and party proceeded to the Dry Port of Myanma Railways in Ywathagyi of Dagon Myothit (East) Township in Yangon Region and inspected the Ywathagyi Dry Port.

Source: The Global New Light of Myanmar

RTAD registers above 3,200 battery electric vehicles

by ENERGY

More than 3,200 EVs have been registered at the Road Transport Administration Department, according to the RTAD.
As of last June, 467 battery electric vehicles (BEVs) were registered across various categories in state, region and district offices, including two light cargo vehicles, 2,474 two-wheelers, and 263 three-wheelers. In order to develop the EV sector, the government established the National Working Committee on the Development of Electric Vehicles and Related Industries last June.
Between last year and June 2023, passenger vehicle groups registered in the department’s district offices within states and regions include sedans, station wagons, microbuses with a capacity of over 15 passengers, and light vans, jeeps and double-cab vehicles. Pick-up trucks are categorized as light cargo vehicles, including single-cab stand-up vans with a carrying capacity of three tonnes or less, as well as trucks.
Imports of EV chargers, along with various types of electric vehicles imported into the country, have been exempted from Customs duties. 

Source: The Global New Light of Myanmar

MPA has to provide necessary assistance for port investors

by INVESTMENT

THE private sector is of great importance in implementing the port sector through Public-Private Partnership system because of the ever-increasing need for technology and skilled workers, said Member of State Administration Council Deputy Prime Minister Union Minister for Transport and Communications Admiral Tin Aung San inspecting international jetties at Myanmar International Terminals Thilawa (MITT) and the Rail Bus Engine-RBE locomotive sheds in the compound of Yangon Railway Station yesterday morning.

The Union Minister inspected jetties of the MITT in Thanlyin Township, freight handling jetty and fuel storage tanks of Regency SPC Company, International Bulk Terminal Thilawa (IBTT) Company’s crop jetty, Padauk Shwe Wah Company Limited’s fuel jetty and Wilmar Myanmar Port Terminal (Thilawa) Ltd’s crop jetties and viewed loading and unloading of goods.

Afterwards, the Union Minister heard reports on port service entrepreneurs at Wilmar Myanmar Port Terminal (Thilawa) Ltd.

Officials presented the placement of jetties in 37 plots of land in the Thilawa port area with local and foreign investment to carry out port services, operations of nine container and general cargo jetties, eight fuel and LNG jetties, and two crop jetties, totalling 19 and progress of 18 jetties under construction, and difficulties in work process.

In his speech, the Union Minister said that Myanma Port Authority has to provide necessary assistance for port investors and supervise port services under the law. He highlighted that the private sector is of great importance in implementing the port sector through Public-Private Partnership system because of the ever-increasing need for technology and skilled workers.

After that, the Union Minister arrived at the Rail Bus Engine-RBE locomotive shed in the vicinity of Yangon Railway Station and inspected the condition of repair and completion of repairing carriages of West Corporation.

Source: The Global New Light of Myanmar

Strong foreign demand makes butter bean market bustling

by TRADING

The price of butter beans jumped on the back of strong foreign demand in recent days, Mandalay bean traders said.
The Upper Myanmar region is the largest supplier of butter beans. Last year, the price was K180,000-K200,000 per three-basket bag of butter beans, whereas it significantly soared to K300,000-K320,000 per bag depending on the different sizes, according to Soe Win Myint depot. “The butter bean fetches a good price in recent days. The farmers store only seeds for cultivation and the traders are keeping the butter bean stocks in their hands. In addition to foreign demand, there is a high consumption of butter beans locally. They are yearly shipped to China, India, Japan and Europe. Lately, they are mostly purchased by China and India.

The Japanese and European market prefers large sizes of butter beans. It is a winter crop. The demand has grown year over year,” Soe Win Myint elaborated. The butter beans are primarily grown in the central regions of Myanmar, mostly found in Minbu, Sinphyu and Salin in Magway Region, Mahlaing, Taungtha and Natogyi in Mandalay and Gangaw, Kalay, Kalewa, Shwebo and Kabaw Valley areas in Sagaing Region. 

Source: The Global New Light of Myanmar

Exports from manufacturing sector bag US$1.7 bln as of 6 June

by MANUFACTURING

The export value from the manufacturing sector totalled over US$1.74 billion as of 6 June in the financial year 2023-2024 beginning 1 April, the Ministry of Commerce’s statistics showed.
Garment export is the key driver in the manufacturing sector, followed by sugar, jewellery and natural gas, as per the Ministry of Commerce. Exports by the private sector were estimated at $1.064 billion while exports worth 676.349 million were performed by the public sector.
The value of manufacturing exports over the past three months in this FY declined from $2.153 billion recorded in the corresponding period last year.
Garment export is ranked first among the top ten export items including natural gas and minerals Myanmar exports agricultural products, livestock products, fisheries, minerals, forest products, finished industrial goods and other goods. Of them, the manufacturing sector pocked the highest foreign income. 

Source: The Global New Light of Myanmar

Moehtaung chilli pepper market sluggish before new supply enters Yangon market

by TRADING

Yangon market sees a slow-moving trade of Moehtaung chilli pepper variety this month amid low foreign and domestic demand and higher prices compared to that of the year-ago period.
The chilli pepper market is sluggish in early July 2023. Newly harvested Moehtaung chilli pepper from the Kyaukse area has not flowed into the Yangon market. However, traders have been storing the varieties of chilli peppers in cold storage. They are expecting a high price.
A new supply of Moehtaung chilli pepper was seen in the Yangon market on 24 June 2022. Yet, there is still no new stock inflow as of 7 July 2023, an owner of a chilli pepper warehouse located on Seinpan Street in Bayint Naung told the Global New Light of Myanmar.
Nonetheless, the new Moehtaung chilli pepper entered the Mandalay market at K15,000 per viss.
The prices stood at K13,000-15,000 per viss of chilli pepper (long chilli pepper and Moehtaung chilli pepper varieties) on 7 July 2023. Bell peppers supplied by Sinphyukyun and Delta regions and processed in cold storages fetched K19,000-19,500 per viss. The market is sluggish for now.
The original price of chilli pepper is higher in 2023 than that in 2022. Nevertheless, we still cannot expect that the price this year will hit the record high last year, a seller U Zaw Myint told the Global New Light of Myanmar.
Chilli pepper is among the inflated commodities in 2022, prompting people to reduce their consumption. Those traders who kept the stocks in hands reaped a handsome profit last year.

Source: The Global New Light of Myanmar

Myanmar attracts FDI of US$13.59 mln in Q1 2023-2024

by MANUFACTURING

Myanmar Investment Commission gave the green light to 11 foreign projects from six countries in the Q1 of the current financial year 2023-2024 beginning in April. The country attracted a capital of US$13.59 million, including the expansion of capital by the existing enterprises, according to the Directorate of Investment and Company Administration (DICA).

MIC nodded one foreign enterprise in April, four in May and six in June respectively. The agriculture sector drew $1 million from one enterprise. The remaining FDI flowed into the manufacturing sector.
In Q1 this FY, China is the top source of FDI so far, investing $8.4 million from six enterprises. One enterprise each from India, Republic of Korea, Samoa, Singapore and the USA also made investments this year.

Next, $21.99 million of FDI flowed into the country in the corresponding period last FY. The figures indicated a decrease of 38 per cent in Q1 this FY compared to that of the last FY. Myanmar attracted foreign direct investments of $1.64 billion from 87 enterprises last financial year 2022-2023 (April-March). The majority of the investments were brought into the manufacturing sector, drawing $271.8 million from 64 enterprises. Singapore, China and Thailand made the highest investments last year.

Source: The Global New Light of Myanmar

Thilawa SEZ to commence solar power distribution from 2023-2024 FY

by ENERGY

ACCORDING to the report of Myanmar Thilawa SEZ Holdings Public Co Ltd, the distribution of
renewable energy will be implemented in the Thilawa Special Economic Zone (SEZ) from the 2023-2024
financial year. MTSH holding the largest shares on the Yangon Stock Exchange is normally running in the
Thilawa SEZ. To bolster the investments, enquiries for market promotion and land and factory lease for the foreign and domestic investors are being accepted, the report stated.

Source: The Global New Light of Myanmar

MAI to extend Yangon-Singapore-Yangon flights on 16 July

by HOTEL & TOURISM

Myanmar Airways International slated to extend the Yangon-Singapore-Yangon route on 16 July. This extension is in response to the growing number of Singaporean visitors to Myanmar.
Previously, the flights operated six days a week on Tuesdays, Thursdays and Saturdays, and starting from 29 May, they were extended to include Mondays and Wednesdays. Now, MAI enlisted Sunday on the flight schedules.
Departure from Yangon International Airport is at 8.20 pm and arrival in Singapore is 12.50 pm local time). The return flight departs from Singapore at 1.50 pm local time and arrives back in Yangon at 3.20 pm.
According to the Ministry of Hotels and Tourism, Myanmar has admitted visits of over 400,000 tourists from January to May 2023, most of whom came from Singapore.

Source: The Global New Light of Myanmar

Myanmar earns US$69.425 million from export of marine products in April, May 2023

by ECONOMY

Export of marine products earned US$69.425 million through maritime and border trade routes in April and May this financial year, according to the Ministry of Commerce.
Businesspersons send freshwater and seawater fish as well as farming fish to foreign markets. In this regard, export of fish and shrimp and other marine products are separately categorized in farming tasks. During the two-month period, export of fish pocketed more than $11 million, shrimp $1.68 million and other marine products $16.24 million.
In the total amount of exporting the fishery products, export of marine products through shipping secured $46.423 million whereas border trade process earned $23.002 million in sending the fishery products to foreign markets. Such products flowed out to neighbouring countries Thailand and China through Muse, Myawady, Kawthoung, Myeik and Mawtaung borders, Bangladesh through Maungtaw border and Laos through Kenglek border. Myanmar’s maritime products are regularly sent to China, Thailand and other neighbouring countries in addition to Japan and European countries.
A total of 480,000 fish farms are being operated to breed fish and shrimp across the nation. In addition, more than 120 cold storage facilities are being run for processing of marine products. Myanmar exports more than 20 species of fish including hilsa, giant sea perch, rohu, barbus and river catfish to foreign markets.
Marine products of Myanmar flow out to foreign countries through normal trade and border trade facilities. Currently, the export volume of marine products in Myanmar cannot regain the status before the Covid-19 period yet.
Myanmar earned $765.945 million from export of marine products abroad from 1 April 2022 to 31 March 2023 in the 2022-23 financial year, declining $19.076 million less than that of 2020-21 FY.
Myanmar set the hatchling season from April to June and the fishery season from July in the Myanmar Sea in the 2023-24 financial year.
Myanmar fishing entrepreneurs and fishermen operate the fishery business at relevant plots in the sea along coasts of Rakhine State, Ayeyawady and Yangon regions, Mon State and Taninthayi Region.

Source: The Global New Light of Myanmar