11 out of 19 domestic cement plants operate as usual

by CONSTRUCTION

Although the annual domestic demand for cement is about 9.9 million tonnes, the cement production volume of the 11 currently operating factories can meet the demand, according to the Ministry of Industry.
Domestically, there are 19 cement plants operated through the public-private joint ventures, eight of which are undergoing mechanical improvements and currently 11 factories are manufacturing cement.
These plants produced 8,123,570 tonnes of cement in the financial year 2022-2023 and were able to meet domestic cement demand, according to the No 2 Heavy Industries Enterprise.
Some cement plants have been temporarily shut down due to operational changes and new equipment expansion.
It can be produced locally to meet the annual cement demand. Among 19 domestic cement plants, some plants are equipped with five machine lines capable of producing 5,000 tonnes of cement or more, nine machine lines capable of producing between 1,000 tonnes and 5,000 tonnes and 13 machine lines capable of producing less than 1,000 tonnes.
Among three State-owned cement plants — No 31 Heavy Industry (Thayet) and No 32 Heavy Industry (Kyangin) — had to stop production due to high energy consumption, high production costs and difficulty in competing in the market.
According to the information, government-private partnerships will also be implemented for operating the aforesaid two plants.

Source: The Global New Light of Myanmar

CBM announces shift to online gold bar trading, similar to forex market

by TRADING

IT should launch online trading for gold bar transactions just like the online trading of the foreign currency market, said Daw Than Than Swe, governor of the Central Bank of Myanmar during the meeting with the chairman and secretary of the Monitoring and Steering Committee on Gold and Currency Market and departmental officials yesterday.

She also mentioned the need to allow those who hold legal certificates for following the mechanisms of meeting the standard for gold, quality, weight and pricing to participate in online trading to ensure gold price stability.

She then instructed the supervisors to inspect whether the price manipulators make price instability at gold shops, and whether the shops have relevant work licences and other certificates including the legal trading price and payment methods.

The CBM launched online trading programmes in the international currency market on 22 June. It sold US$6.89 million at K2,920/2,922 per dollar to six banks on that day and also announced that the online sale prices were illegal.

Moreover, the CBM reviewed the lists of buyers and sellers of foreign currency submitted by AD-licensed banks and sale listings between the banks and customers and also negotiated with the banks regarding the exchange rate and amounts.

Then, the attendees reported on the proper situation concerning the online trading of CBM for real estate agents and car brokers in addition to the foreign currency and gold market to make official transactions by laying down rules and regulations and the plans to inspect as per the Anti-Corruption Law.

Source: The Global New Light of Myanmar

Two weeks left to utilize Thailand’s Form D benefits for corn exports

by TRADING

With only over two weeks remaining to export Myanmar’s corn to Thailand under Form D customs tariff benefit, the corn market falters, traders explained.
Thailand gives the go-ahead to corn imports under zero tariff (with Form-D), between 1 February and 31 August. However, Thailand imposed a maximum tax rate of 73 per cent on corn imports to protect the rights of their growers if the corn is imported during the corn season of Thailand. There are only 20 days remaining to enjoy that customs benefit.
Additionally, torrential rain on 7 August destroyed some road sections to Myawady, a major border point between Myanmar and Thailand. Therefore, landslides blocked the corn’s trade route and repair works are being undertaken. As a result of this, the market is slowing down.
The prevailing prices of corn stand at K1,200-1,220 per viss in the domestic market while the FOB corn prices were US$290-310 per tonne, according to Yangon Region Chambers of Commerce and Industry (Bayintnaung Commodity Depot).
Myanmar conveys corn to China and Thailand through the border and also sends corn to China, India, Vietnam and the Philippines by maritime shipping presently, according to the Myanmar Corn Industrial Association.
China is purchasing Myanmar’s corn through cross-border trade under the opium substitution programme. Legitimate corn trade between Myanmar and China commenced at the end of 2022. A total of 112 companies have been given the go-ahead for corn exports.
Myanmar exported more than two million tonnes of corn to foreign trade in 2022 corn season. The majority of them were sent to Thailand and the remaining went to China, India, the Philippines and VietNam.
More than two million tonnes of corn are expected to be shipped to foreign trade partners in the 2023 corn season, said U Min Khaing, patron of the Myanmar Corn Industrial Association.
At present, corn is cultivated in Shan, Kachin, Kayah and Kayin states and Mandalay, Sagaing and Magway regions. Myanmar has three corn seasons — winter, summer and monsoon. The country produces 2.5-3 million tonnes of corn every year. 

Source: The Global New Light of Myanmar

“Dee Money” App facilitates seamless cash transfers for Myanmar citizens in Thailand

by SERVICES

The Myanmar Embassy to Thailand has announced that Dee Money mobile application has been
jointly established by two Myanmar-Thai non-bank financial service companies as an official money transfer service so that Myanmar nationals in Thailand will not be deceived when transferring money to their motherland. The embassy stated that Myanmar nationals in Thailand are being exploited while sending money back to Myanmar due to various reasons, as well as facing high transfer fees and a lack of guarantees daily.

If people transfer the baht currency equivalent to K10 million through the Dee Money mobile application, they will only be charged 49 baht per service fee. According to the embassy statement, Dee Money App is a safe and secure money transfer service for all Myanmar citizens in Thailand. Currently, Thai-Myanmar exchange rates are not stable and the value of the kyat is falling, reaching over K100 per Thai baht, as per the prevailing conditions in the forex market.

Source: The Global New Light of Myanmar

Negotiations underway to temporarily waive fines for Myanmar sailors at Brazilian ports

by LOGISTICS

Myanmar’s Ambassador to Brazil U Aung Kyaw Zan engaged in a productive discussion with the chief representative of the cross-border crime department at the Ministry of Foreign Affairs of Brazil yesterday. The central topic of their discussion was centred around the potential exemption of Myanmar seafarers from bearing fines imposed at Brazilian ports, marking a significant step towards fostering stronger bilateral relations.
During their cordial meeting, Ambassador U Aung Kyaw Zan and the head of Brazil’s cross-border crime department explored the possibility of introducing a grace period during which Myanmar sailors disembarking at Brazilian ports without a valid Seafarers Identity Document (SID) would be spared from incurring fines. The ambassador meticulously outlined the strategic mechanisms through which essential consular protection would be extended to these seafarers. The comprehensive discussion included Minister Marcelo Della Nina, who oversees Brazil’s cross-border crime department, and together, they evaluated the practical implementation of these measures.
In addition to this vital initiative, Ambassador U Aung Kyaw Zan also dedicated time to elaborate on Myanmar’s steadfast commitment to combatting human trafficking. He presented a comprehensive overview of the ongoing fourth five-year plan (2022-2026) and elucidated the seamless continuity of pivotal processes to address this issue.
Brazilian regulations stipulate those foreign seafarers, hailing from diverse nations, can access Brazilian ports under specific conditions. Crucially, entry is conditional upon the presentation of a valid SID or a pre-entry visa when the ship arrives. However, instances of seafarers arriving without SID due to various reasons have been a recurring concern, often resulting in unwarranted fines. To mitigate this issue, the ambassador and his counterparts are diligently coordinating to streamline the process of obtaining SIDs. Letters of support are being issued to Myanmar seafarers destined for Brazilian waters, while the Seafarers Division under the Directorate of Marine Administration (DMA/SD), is expediting SID issuance.
Furthermore, the Brazilian Embassy to Myanmar remains steadfastly committed to securing exemptions for Myanmar seafarers from detention or financial penalties and providing unwavering support and assistance to sailors in need, reaffirming the strong ties between Brazil and Myanmar. For seafarers seeking guidance or support, the Brazilian embassy stands ready to extend its helping hand at any juncture.

Source: The Global New Light of Myanmar

PGMF microfinance operations shut down for failure to transform into commercial entity

by ECONOMY

PACT Global Microfinance Fund (PGMF), an international nongovernmental organization (INGO) has
failed to transform into a company in time and so their microfinance business activities will be suspended and the liquidation processes will be proceeded, according to the statement released by Microfinance Business Supervisory Committee of the Ministry of Planning and Finance on Thursday. The proposal to do such action was submitted to the committee on 11-7-2023 and the committee will carry out that case as per the provisions of Microfinance Business Law.

The committee granted microfinance business licences to the local and foreign companies, partnership firms, INGOs and NGOs that register under the Myanmar Companies Law, Registration of Associations Law under Section 13 of 2011 Microfinance Business Law (Pyidaungsu Hluttaw Law No 13/2011) by reviewing them. The US Delaware-based INGO called Pact Global Microfinance Fund (PGMF) made registration as an INGO at the Ministry of Home Affairs in 2012 and applied for a work licence to provide microfinance services at Microfinance Business Supervisory Committee. The committee granted a permit with business licence No 0022/2012 on 22-6-2012. Under Registration of Associations Law 2014 and 2022, the organizations that register as INGOs and NGOs and seek business licences are not allowed to operate financial businesses.

Therefore, the committee instructed the INGOs and NGOs to transform into cooperating entities in 2018, the statement said. A total of 180 microfinance organizations provide microfinance services to over 4.496 million members in 267 townships, 2,308 wards and 27,773 villages of 15 regions/states with microfinance business licences in Myanmar until May 2023. Currently, 179 microfinance organizations that receive licences from the committee offer microfinance services across the nation.

Source: The Global New Light of Myanmar

38 th Trade Expo Indonesia welcomes Myanmar’s businesspersons

by TRADING

MYANMAR businesspersons are invited to join the 38th Trade Expo Indonesia, the international B2B-
focused hybrid trade show, that will be held between 18 and 22 October and organized by the Ministry of
Trade, Indonesia, according to the Union of Myanmar Federation of Chambers of Commerce and Industry
(UMFCCI).
The trade show brings up the theme of Sustainable Trade for Global Economic Resilience. Food and
beverages, cloth and textile, chemical, energy and industrial products, digital services, beauty care service,
hospital equipment, healthcare services and home appliances will be showcased. Those enthusiastic affiliated associations, entrepreneurs, potential buyers, importers and investors can register through www.
tradeexpoindonesia.com. For further details, they can contact Ms Irman on Ph: (+62) 8176440307, Email:
irman_dwn@yahoo.com, Mr Matthew Ph: (+62) 821 2246 4727, Email: eston.p2c@kemendag.go.id and Mr
Puja Bastara – Ph: (+62) 811 2228 112, Email: pujabestara@kemendag. go.id. Those who want to attend the
trade show are encouraged to send their name, position, and name of their institution, company or business on
the company letterhead to the UMFCCI’s expo division via Email: itpc. umfcci@gmail.com or dial 01-24-
314344~49 (Ext: 301) at the soonest.

Source: The Global New Light of Myanmar

Over 162K tourists visit Great Kyaiktiyo PagodaJanuary-July 2023

by HOTEL & TOURISM

The board of trustees of the Great Kyaiktiyo Pagoda in Mon State stated that 4,638 foreign tourists and 157,574 domestic tourists visited the pagoda from January to July this year.
According to the list of the board of trustees, the pagoda accepted 450,000 visitors in the last pilgrimage season, although hundreds of thousands of pilgrims visit each year. The period for the festival of the Great Kyaiktiyo Pagoda was set for seven months, starting on the full moon day of Thadingyut till the full moon day of Kason (Buddha day), and pilgrims are allowed to visit throughout the year.
Visitors are entering from the country and abroad during the festival season, especially from neighbouring Thailand. As part of the rainy season special promotion, the Yoe Yoe Lay Express will provide the Kyaikto-Yangon-Kyaikto trip three times a day for free for the convenience of transportation for those who visit Kyaiktiyo Pagoda, saving the cost of the pilgrimage for visitors.
Although it is a rainy season, hotels, guesthouses, restaurants, and stalls near the square of the pagoda are open as usual, and truck services are also running regularly for devotees. 

Source: The Global New Light of Myanmar

PGMF microfinance operations shut down for failure to transform into commercial entity

by ECONOMY

PACT Global Microfinance Fund (PGMF), an international nongovernmental organization (INGO) has
failed to transform into a company in time and so their microfinance business activities will be suspended and the liquidation processes will be proceeded, according to the statement released by Microfinance Business Supervisory Committee of the Ministry of Planning and Finance on Thursday. The proposal to do such action was submitted to the committee on 11-7-2023 and the committee will carry out that case as per the provisions of Microfinance Business Law. The committee granted microfinance business licences to the local and foreign companies, partnership firms, INGOs and NGOs that register under the Myanmar Companies Law, Registration of Associations Law under Section 13 of 2011 Microfinance Business Law (Pyidaungsu Hluttaw Law No 13/2011) by reviewing them. The US Delaware-based INGO called Pact Global Microfinance Fund (PGMF) made registration as an INGO at the Ministry of Home Affairs in 2012 and applied for a work licence to provide microfinance services at Microfinance Business Supervisory Committee.

The committee granted a permit with business licence No 0022/2012 on 22-6-2012. Under Registration of Associations Law 2014 and 2022, the organizations that register as INGOs and NGOs and seek business licences are not allowed to operate financial businesses. Therefore, the committee instructed the INGOs and NGOs to transform into cooperating entities in 2018, the statement said. A total of 180 microfinance organizations provide microfinance services to over 4.496 million members in 267 townships, 2,308 wards and 27,773 villages of 15 regions/states with microfinance business licences in Myanmar until May 2023. Currently, 179 microfinance organizations that receive licences from the committee offer microfinance services across the nation.

Source: The Global New Light of Myanmar

Exciting EV car exhibition to be held in People’s Square

by ENERGY

ACCORDING to the Yangon Region Government Office, the 2023 Rainy Season Expo, Industrial
Product Exhibition and Electric Vehicle (EV) Exhibition will be held at People’s Square in Dagon Township,
Yangon Region. Not only products produced in Yangon Region but also products from other regions and states are planned to be displayed and sold in the exhibition from 4 to 6 August. People can buy products from 29 industrial zones in Yangon Region, MSME products, and products produced by manufacturing cooperatives.

During the exhibition, value-for-money restaurants will be opened and sold for the vendors and visitors, and entertainment programmes will also be included. Products from the Union of Myanmar Federation of Chambers of Commerce and Industry, Myanmar Rice Federation, Retailers Association, Myanmar Oil Traders and Oil Industry Association and other associations and various industrial zones will be sold at the expo.

Source: The Global New Light of Myanmar