New Yangon-Dala River Bridge construction expected to complete 100% in early 2024

by CONSTRUCTION

The 100 per cent of the new Myanmar-Korea Friendship Yangon-Dala River bridge is expected to be completed by early 2024, according to the Ministry of Construction. For the main bridge PY2 on the Yangon side, the shaft piling work, which is the mid-water pillar work, has been completed from the bottom of the pillar to a height of eight metres. The construction work for the approach bridge along Phonegyi Road has also been completed. 48 per cent of the entire bridge has now been constructed due to the pouring of seven reinforced concrete floors according to the bridge construction site.

As the construction of the bridge nears completion, residents of Lanmadaw Township said that the scenery of the bridge project area — along Phonegyi Road in Lanmadaw Township and the port near the shore — has also changed. U Ye Aung, a resident of Phonegyi Road, told the Global New Light of Myanmar (GNLM) that the erection of bored piles for the main approach two-lane bridge along Phonegyi Road was seen in the last months of 2020. Around two years later, in early 2023, it has been seen that rows of beams have been placed between the main pillars and that reinforced concrete slabs have been laid.

Similarly, it is only necessary to lay the RC slabs for the two pedestrian overpasses under construction at the night market on Strand Road between Latha and Lanmadaw Township. The construction of the Dala Suspension Bridge over the Yangon River started in May 2019 and will be completed in early 2024. Therefore, in the next year or so, we will see a change in the scene of traffic using not only the surface road but also the approach bridges in front of Strand Road and Phonegyi Road. Along with the changes in the scenes, transport will become convenient and the development of the region will be improved. Especially, a new scene with various vehicles passing by on the concrete road where cargo vehicles travel, and above the bridge road, will become a new image of Yangon, the commerical city, Daw Win Ma, a resident of Lanmadaw Township, told the GNLM. 

Source: The Global New Light of Myanmar

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Sino-Myanmar border crossing Mang Wein reopens

by TRADING

Trade activity at the Muse-Mang Wein crossing, which performed the majority of trade between Myanmar and China, resumed on 14 January 2023, said Vice-Chair U Min Thein of Muse Rice Wholesale Centre. It was closed down on 1 April 2020. Among the border points connected to Muse-Kyalgaung areas, only Mang Wein was reopened at 7 am Myanmar Standard Time on 14 January with the presence of the officials of the two countries. However, only six-wheel trucks driven by Myanmar drivers are allowed to pass the Mang Wein crossing. Other trucks are still not given the green light. Passengers are not entitled to pass it as well.

Additionally, other goods except for agricultural products (watermelon, muskmelon), minerals and fisheries products are allowed to be sent to China through that border. Meanwhile, China gives the go-ahead to the imports of construction goods, electrical appliances, medical devices, industrial equipment, consumer goods, household goods and food products only through that border, U Min Thein elaborated. The Mang Wein border allows Myanmar truck drivers to cross the border point, whereas the driver-substitution system is yet to be abolished at the Kyinsankyawt border although it was reopened on 26 November 2021. U Min Thein called for an end to the driver-substitution system at the Kyinsankyawt border to facilitate the cross-border trade between Myanmar and China.

At present, there is no responsibility and accountability if goods are damaged under the driver-substitution system. Therefore, Myanmar exporters choose short-haul driver services and bear high freight costs, traders engaged in the Muse border said. Myanmar daily delivers rice, broken rice, pulses, rubber, watermelon, fishery products, chilli pepper and other food commodities to China through the Kyinsankyawt border with about 100 trucks and building materials, electrical appliances, pharmaceuticals, fertilizers, household goods and industrial raw materials are imported into the country with 40 trucks. Myanmar has opened five border trade posts with China — Muse, Lweje, Kampaiti, Chinshwehaw and Kengtung. The majority of the trade is carried out through Muse, Ministry of Commerce’s data indicated. 

Source: The Global New Light of Myanmar

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Myanmar’s cross-border trade sees tremendous export in nine months

by TRADING

The value of Myanmar’s exports to the neighbouring countries through border trade showed a significant increase of US$735.6 million in the nine months (April-December) of the current Financial Year 2022-2023 compared with that in the corresponding period of 2021. The export through border trade reached over $4 billion during the April-December period which soared from $3.66 billion in the year-ago period, the Ministry of Commerce’s statistics indicated. Myanmar’s border trade totalled $6.044 billion this FY.

Usually, Myanmar’s exports outperformed imports in border trade, with export worth $4.4 billion and imports valued 1.643 million. Smooth transport plays a crucial role in trade. Transport barriers and traffic problems can hinder freight forwarding, and degrade the quality and weight on price. The departments concerned are prioritizing the smooth freight flow. The officials of the border posts are tackling difficulties and trading requirements for the supply chain including growers, traders and chambers associations to bolster the exports. The authorities are keeping in touch with the traders for trade facilitation and trade promotion.

Those efforts in border trade are contributing to the revenue of the State, the Ministry of Commerce stated. Myanmar has opened 17 border posts between Myanmar and the neighbouring countries; with China through Muse, Lweje, Chinshwehaw, Kampaiti and Kengtung, with Thailand through Myawady, Kawthoung, Myeik, Hteekhee, Tachilek, Mawtaung and Meisei, with Bangladesh through Sittway and Maungtaw, with Laos through Kenglek and with India through Tamu and Reed. Of the Sino-Myanmar border posts, the Kengtung crossing showed a small decline.

Moreover, Myawady, Kawthoung and Mawtaung posts with Thailand also registered a drop while the trade with India via Reed fell sharply. The border trade with Bangladesh through Sittway plunged as well, the trade data indicated. The values of border trade stood at over $1.643 billion at Muse, $99.69 million at Lweje, $189.8 million at Chinshwehaw, $61.185 million at Kampaiti, $8.54 million at Kengtung, $113.4 million at Tachilek, $1.584 billion at Myawady, $162 million at Kawthoung, $92 million at Myeik, $1.956 billion at Hteekhee, $9.68 million at Mawtaung, $100.58 million at Sittway, $11.788 million at Maungtaw, $12.58 million at Tamu.

There is no trading record at Reed, Meisei and Kenglek border posts in the past nine months. Myanmar primarily exports rice, various types of beans, sesame seeds, corn, fruits and vegetables, dried tea leaves, fishery products, natural gas, rubber, gem, animal products and spice to the neighbouring countries, while it imports capital goods such as machinery and motorbikes, raw industrial goods such as CMP raw materials, cement and fertilizers, and consumer goods such as cosmetics, edible vegetable oil and food products. 

Source: The Global New Light of Myanmar

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Myawady-Mae Sot Friendship Bridge I reopens after three-year hiatus

by TRADING

Operations were resumed at the Myawady-Mae Sot Friendship Br-idge I on 12 January 2023 after nearly three years of closure, and authorities from Thailand and Myanmar formally reopened the bridge at 8:30 am yesterday. Officials concerned held a meeting regarding the resumption of the bridge activity at Tak Province in recent days. After a series of negotiations, operations on the bridge were reinstated on 12 January.

Therefore, people can enter the Mae Sot side by passing that bridge with the border pass as before. For a border pass document, Myawady residents can apply for it by presenting a citizenship scrutiny card, household registration and three pictures of the licence-sized photo. Licenced private cars are entitled to go over the bridge and the passengers need to present COVID-19 vaccination certificates.

Furthermore, border crossings with passports are also allowed and Myanmar migrant workers can also return home via the bridge as before. That bridge is the major border trading route between Myanmar and Thailand. The border crossing ceased amid COVID-19 cases on 23 March 2020. The border trade activity is therefore being carried out at Bridge II. Efforts were made to reopen the bridge. However, it has been closed down for nearly three years amid coronavirus infections in both countries. It is restarted at present. After reopening the bridge, it will bring about job opportunities for residents and freight forwarders.

Source: The Global New Light of Myanmar

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Myanmar’s mineral export bags over $200 million in past nine months

by TRADING

The value of Myanmar’s mineral exports in the past nine months (April-December) in the current financial year 2022-2023 exceeded US$200 million, according to the Ministry of Commerce. During the April-December period, the public sector performed mineral exports valued at $16.151 million whereas the private sector saw mineral exports worth $206.19 million. Myanmar earned $519.76 million from mineral exports in the corresponding period last FY. Myanmar targets to achieve exports worth $15.5 billion and imports worth $14 billion in the 2022-2023 FY, the National Planning Law stated. The export items are gems and jewellery, gold, jade, pearl, lead, tin, tungsten, silver, copper, zinc, coal and other minerals. Myanmar’s mineral exports amounted to $288.599 million in the 2021-2022 mini-budget period and $895.611 million in the 2020-2021 FY.

Source: The Global New Light of Myanmar

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Myanmar pockets US$190 mln from FDIs in manufacturing sector as of Dec

by INVESTMENT

A total of 44 foreign enterprises pumped US$187.426 million into Myanmar’s manufacturing sector in the past nine months (April-December) of the current financial year 2022-2023, including capital expansion by the existing enterprises, as per the statistics released by the Directorate of Investment and Company Administration (DICA). Myanmar attracted foreign direct investments of $1.462 billion from 59 enterprises during the April-December period. The majority of the investments were brought into the manufacturing sector. The agriculture sector drew $3.5 million from two projects.

The power sector received $817 million from 10 projects, while one enterprise put $29 million in the real estate sector and two other foreign enterprises made an investment of $413.068 million in the service sector respectively. The hotels and tourism sector attracted less than $1 million. The mining sector received $7 million from one project, while one enterprise also put investments of less than a million into the hotels and tourism sector and some capital expansion of the existing businesses is also seen. 

Additionally, the livestock and fisheries sector saw a capital expansion of $1.545 million. The manufacturing enterprises and businesses that need a large labour force are prioritized to create job opportunities for the local community. Manufacturing of fertilizer, cement, iron and steel, value-added foodstuff, electric vehicle and pharmaceutical and medical devices, agriculture and livestock farming and its related industries and public transportation services will be prioritized for investment. The commission welcomes both foreign direct investment and domestic investments made by Myanmar citizens in those sectors.

Myanmar Investment Commission and the related ministries will also ensure investment facilitation. Myanmar’s manufacturing sector is largely concentrated in garment and textiles produced on the cutting, making, and packaging (CMP) basis, and it contributes to the country’s GDP to a certain extent. There are active 541 factories operated under MGMA. The majority of them are from China, followed by Myanmar and the Republic of Korea. Myanmar has drawn foreign direct investment of more than $647.127 million from 49 enterprises in the past mini-budget period (October 2021-March 2022). Of them, 40 foreign enterprises put investments in the manufacturing sector, pumping an estimated capital of $202.667 million. 

Source: The Global New Light of Myanmar

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Covid-free certificate needed for inbound travellers from Ruili border

by COVID

The Chinese Embassy in Myanmar announced that inbound people from the Ruili border do not need
to show a health code, but are required only to show Covid-19 negative test result certificate taken within 48 hours. The inbound truck drivers can enter the country by notifying the information about drivers and vehicles to the Customs Department in advance, according to the statement. China implements the level “B” management and control of the COVID-19 cases and there will no longer be Covid-19 rules and regulations for inbound people and goods, said the statement. The traffic crossing resumed at the Ruili crossing of the China-Myanmar border, the Hokho Nanxi River post of the China-Viet Nam border and the Mohan crossing of the China-Laos border on 8 January.

Source: The Global New Light of Myanmar

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Palm oil wholesale reference price on the rise

by TRADING

The wholesale reference rate of palm oil in the Yangon market continued to rise, according to the Supervisory Committee on edible oil import and distribution. The reference price stood at K4,470 per viss in the week from 2 to 8 January. For the week ending 15 January, the price was set higher at K4,530 per viss. The figures showed an increase of K60 per viss. The Supervisory Committee on edible oil import and distribution under the Ministry of Commerce has been closely observing the FOB prices in Malaysia and Indonesia including transport costs, tariffs and banking services, and issuing the wholesale market reference rate for edible oil every week.

Regardless of the reference price, the current market price is too high. If those edible oil retailers and wholesalers are found overcharging, storing inventory intentionally and attempting unscrupulous action to manipulate the market, they will face legal action under the Specific Goods Tax Law, MoC released a statement. The Ministry of Commerce is striving for consumers not to worry over the supply of edible oil. The ministry is also trying to secure edible oil sufficiency, supervise the market to offer a reasonable price to consumers and maintain price stability.

At present, mobile market trucks operated by oil importing companies, in coordination with Myanmar Edible Oil Dealers’ Association, were back to business in some townships on 17 July to offer palm oil at a subsidized rate. They sell palm oil at K4,750 per viss to consumers directly. However, there are limited sources of supply although they directly sell palm oil at a reference rate depending on the volume quota. The domestic consumption of edible oil is estimated at 1 million tonnes per year. The local cooking oil production is just about 400,000 tonnes. To meet the oil sufficiency in the domestic market, about 700,000 tonnes of cooking oil are yearly imported through Malaysia and Indonesia. 

Source: The Global New Light of Myanmar

Gap in commodity opening and selling prices emerges in markets

by ECONOMY

Although there is a daily notification of the opening prices of the commodities traded in the commodity depots, a shortage or an abundance of goods has led to price changes in the market time after time, some buyers said. As for onions, commodity depots in the Bayintnaung Market set the opening price at 7 am depending on different origin regions. Depots from some regions often opened more than one price for onion based on its quality. The opening price for potatoes is announced around 10 am. Customers arrive at the Bayintnaung Market before 7 am every day, the opening time of commodity depots.

They speculate the situation of opening prices based on the inventory information of some depots. They pre-order the desired amount of goods on days when the opening prices may increase due to the low availability of goods. Only then, can buyers get the goods when they are in short supply. When commodity depots are overstocked, dealers purchase commodities only after the declaration of opening prices. Brokers sell the commodities, based on the depot opening price, at a higher price owing to high demand and low stock of goods, and at a lower price for bad quality goods and excess goods. Some retail shops in the market can get unpopular commodities at a low price, through the credit system.

Thus, associated people have to inquire about the price changes in the market in addition to the opening prices of commodity depots. Dealers from Yangon have to check the actual purchase price in regions besides the daily opening prices so that they can adjust the selling prices with other dealers. The supply of onion and chilli pepper to the border and some major cities in the delta region has decreased. Thus, direct exports from the origin regions have emerged, resulting in a lower price of commodities due to the lack of brokerage fees. Commodity depots in regions set their opening prices depending on that of the Bayintnaung Market before. Nowadays, brokerage house owners evaluate their opening price by monitoring the market price in other regions as well.

Source: The Global New Light of Myanmar

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Myanmar ships over 1.639 mln tonnes of rice to external markets in past 9 months

by TRADING

Myanmar conveyed over 1.639 million metric tons of rice and broken rice to foreign trade partners in the past eight months (April-December) of the current financial year 2022-2023, with an estimated income of US$600 million, according to Myanmar Rice Federation (MRF). In the past nine months, more than 42 exporter companies delivered over 1.264 million MT of rice and broken rice to external markets by sea, whereas over 369,162 MT were sent to neighbouring countries via border posts. Myanmar shipped rice and broken rice to regional countries, countries in Africa and European Union member countries through maritime trade.

It is also exported to neighbouring countries, China and Thailand through cross-border posts. China is still the main buyer of Myanmar’s rice in the past nine months, purchasing over 264,000 tonnes of rice and over 237,000 tonnes of broken rice. Myanmar exported rice to over 20 foreign markets in the past months, mostly to China (264,284 MT), followed by Bangladesh, the Philippines and other European countries such as Italy, Spain, Poland, Belgium, the Netherlands and France. Additionally, Myanmar primarily conveyed 278,219 MT of broken rice to China and 230,488 MT to Belgium.

The prices of high-grade rice varieties stood at K60,000-100,000 per bag and K35,500-50,000 per bag for low-grade rice varieties. The export price of Myanmar’s rice was relatively lower than the rates of Thailand and Viet Nam, according to MRF. The federation targeted to ship two million tonnes of rice this financial year. Myanmar has shipped more than 1.4 million tonnes of rice and broken rice to foreign trade partners between 1 October and 31 March in the past mini-budget period (2021-2022), Myanmar Rice Federation stated. Myanmar bagged US$700 million from two million tonnes of rice exports to foreign countries in the past 2020-2021 financial year. 

Source: The Global New Light of Myanmar