FILE PHOTO - Bottles of medications line the shelves at a pharmacy in Portsmouth, Ohio, U.S. on June 21, 2017. To match Special Report USA-HEALTHCARE/OPIOIDS REUTERS/Bryan Woolston/File Photo

Over 500 tonnes of pharmaceuticals worth US$10.5 mln imported by sea

by TRADING

Myanmar has imported over 500 tonnes of pharmaceutical products worth US$ 10.5 million via maritime trade, according to the Ministry of Commerce.

The products were reportedly imported from Australia, Bangladesh, Brazil, the People’s Republic of China, Cyprus, Ecuador, Germany, India, Indonesia, the Republic of Ireland, Italy, Japan, South Korea, Malaysia, the Netherlands, Pakistan, Spain, the Philippines, Singapore, Portugal, Thailand, the US and Viet Nam during the period from 19 to 25 November.

About 120 tonnes of pharmaceutical products worth $ 1.371 million were imported from the border trade. More than 100 tonnes were imported from Thailand and over 15 tonnes from the People’s Republic of China, it is learnt.

Source: The Global New Light of Myanmar

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Reading electricity meters on mobile phone available in 5 townships of Yangon

by SERVICES

Electricity meters can be read on mobile phones in five townships of the Yangon Region, according to Yangon Electricity Supply Corporation (YESC). During this FY, the government completes digital meter installation processes using an advanced metering infrastructure (AMI) system in five townships of Yangon and people can read the meter on their phones, YESC stated.

The AMI system will reduce power losses significantly and people can know their used meter units over their mobile phones using the Me Bill application in a timely manner. Officials installed AMI system-based 66,189 digital meters in Lanmadaw, Latha, Kyauktada, Pazundaung and Botahtaung townships and it is now 98.66 per cent completed.

Officials will change the remaining 900 meter boxes. In the past, it allowed only one service wire for each apartment and it caused complex cables on lamp posts. Now, power poles look neat and tidy for using only one larger service wire. 

Source: The Global New Light of Myanmar

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Myawady border trade totals $1.456 billion in about eight months

by TRADING

The value of border trade via the Myawady border post between 1 April and 25 November hit US$1.456 billion, according to the statistics released by the Ministry of Commerce. The figures showed a drastic drop of $148.545 million recorded in the corresponding period last year. The trade policy changes and political instability in the border areas resulted in an extreme fall in export to Thailand. The border trade between Myanmar and Thailand through Myawady, Tachilek, Kawthoung, Myeik, Hteekhee, Mawtaung and Meisei amounted to $3.452 billion, which is an increase of $451.342 million from the year-ago period.

Myanmar sent agricultural products (chilli pepper, onion, rice powder, turmeric, dried lily buds, coffee bean, green gram, rubber, cinnamon, macadamia nuts in shell, plum from Bago and peanuts), fishery products (anchovy, clam, hilsa, crab, shrimp and other fish) and finished industrial goods on a Cutting-Making and Packaging basis (men’s sweaters, women’s shirts and other clothes) on 27 and 28 November through Myawady border trade zone to Thailand.  Onions, rice powder, chilli pepper, coffee beans, peanut, rubber, green gram and fishery products are the main export items to Thailand.

Thailand’s demand for Myanmar’s kitchen groceries has risen as it resumed the tourism businesses in the post-COVID period and the restaurants and food businesses widely used them. Fishery products are directly sent to Bangkok, Thailand, through Mae Sot. The fast and fresh delivery service is the priority. About 33-34 trucks are leaving for Thailand. The authorities are inspecting the goods onboard with the lists in the declaration form. The cloth rolls, construction materials, industrial raw materials, pharmaceuticals, motorcycle parts, footwear, clothes, fruits, food products, cosmetics, gas, lubricants, household goods, foodstuff, bicycles, stationery, auto parts, tiles, feedstuff, fertilizer and electronic devices are imported with 161 trucks. A batch was exchanged for K67 in early November and K79 at the end of November. The exchange rate fluctuation influenced the import volume.

Source: The Global New Light of Myanmar

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Passport Online Booking System suspended on 5 December

by SERVICES

The Myanmar Passport Office announced the suspension of applications for the passport through an online booking system on 4 December and advised against purchasing QR Codes through brokers at expensive prices.

The Myanmar Passport Office introduced the online booking system on 21 March 2022 and, according to the new system, the applicants must make an online appointment on www.passport.gov.mm by entering details such as the applicant’s name, father’s name, date of birth and gender and, only after they have received the QR code, they can come to the office in person.

Those who have received the appointment will have to bring the printout of the passport online appointment letter or the screenshot of the QR code. Now, some changes are being made to the online booking system to enable the applicants to make an appointment round the clock. Therefore, the current system was suspended on 5 December. However, those who have already had an appointment through the old system can come to the office on the appointed day. The date when the new online booking system can be used will be announced again, it is learnt.

Source: The Global New Light of Myanmar

Price gaps still widen in paddy, edible oil, gold, currency markets

by ECONOMY

Just business entities in the fuel oil sector comply with the reference price set by the institution concerned, so the fuel consumers are delighted with that. Furthermore, those engaged in the forex market and in the gold market are found to have weak compliance at the reference prices. The consumers are bearing the burden of those extra costs. The reference price was set for fuel oil and edible oil depending on the market price and foreign exchange rate. “I could buy the fuel oil according to the daily wholesale and retail reference prices,” Ko Than Win, a taxi driver, told the Global New Light of Myanmar (GNLM).

The fuel oil wholesale reference prices stood at K1,867 per litre of Octane 92, K1,941 for Octane 95 and K2,291 for diesel. The retail prices were K1,965 per litre of Octane 92, K2,041 for Octane 95 and K2,410 for diesel. Those reference prices were effective on 2-4 December and the fuel buyers were able to reach them. Next, the wholesale reference price of edible oil for the Yangon market is released on a weekly basis on Mondays depending on the foreign palm oil market conditions. However, the consumers find it hard to buy them at the reference prices, said a trader.

Every month, approximately 30,000 tonnes of edible oil are imported from the foreign markets and mobile market trucks offer them at the retail reference price. Nonetheless, the sales quota volume is extremely low. That being so, there is a gap of thousand Kyats between the reference price and the market price. In August 2022, there was a price difference of K4,000 per viss. On 3 December, it narrowed to K1,200 per viss of palm oil, according to the Yangon edible oil market. Likewise, the institutions concerned set the reference prices for exchange rate and daily gold price. Weak culture of compliance by traders in those industries resulted in exorbitant market prices compared to the reference prices.

Moreover, the floor price for 2022 monsoon paddy (low-grade) and 2023 summer paddy (low-grade) was set at K630,000 per 100 baskets (46 pounds per basket), according to the leading committee for the Protection and Promotion of the Rights and Interests of Farmers. Actually, the market price hit K1 million to K1.3 million per 100 baskets (50 pounds per basket), said a rice dealer from Wakema Township.

The committee set the floor price for paddy at K540,000 per 100 baskets for 2021 monsoon paddy and 2022 summer paddy. They were sold at K600,000 per 100 baskets. Unlike reference price, the traders are notified of purchasing the paddy at floor price if the market price falls below that. The farmers received higher prices than the floor price in the past two years. Next, the importers and the traders who keep the stocks in hands of the certain goods earn a great profit amid the weak compliance. A buyer called for enforcement for the regulatory compliance so that they can enjoy the reference prices of those certain commodities and goods.

Source: The Global New Light of Myanmar

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Myanmar ships approximately 110,000 tonnes of rice to Bangladesh under G-to-G pact

by TRADING

Myanmar has conveyed about 110,000 tonnes of rice to Bangladesh under the government-to-government pact, according to the Ministry of Commerce. Myanmar and Bangladesh inked a Memorandum of Understanding (MoU) on rice trade in September this year. According to this MoU, Bangladesh has agreed to buy 250,000 tonnes of white rice and 50,000 tonnes of parboiled rice from Myanmar between 2022 and 2027.

Under the MoU, Bangladesh’s Directorate General of Food and Myanmar Rice Federation signed a sales contract for 200,000 tonnes of Myanmar’s white rice to be exported to Bangladesh. As per the sales contract, Myanmar has shipped about 110,000 tonnes of white rice to Bangladesh as of 28 November 2022. Furthermore, over 2,000 tonnes of rice are being loaded onto the ship for now. The remaining will be delivered before the deadline.

As per the MoU between Myanmar and Bangladesh on the rice trade, 48 companies, under the supervision of the Myanmar Rice Federation, are to export 200,000 tonnes of rice to Bangladesh with Chinese yuan payment between October 2022 and January 2023. Following the contract, white rice (ATAP) GPCT Broken STX variety will be delivered. The FOB prices were 2.78856 Yuan per kilo and 2788.56 Yuan per tonne. The Export/Import division of the Trade Department issued 42 export licences worth over 534 million Yuan for 41 companies to convey 191,700 tonnes of rice to Bangladesh.

Since 7 September 2017, Myanmar and Bangladesh have engaged in rice trade under the government-to-government pact. That MoU stated that Bangladesh has agreed to buy Myanmar’s white rice (250,000 tonnes) and parboiled rice (50,000) tonnes between 2017 and September 2022. Bangladesh’s Directorate General of Food and MRF signed the sales contracts as per the MoU and Myanmar sent 100,000 tonnes of rice to Bangladesh each in 2017 for the first time and 2021 for the second time, as per the sales contract.

Source: The Global New Light of Myanmar

54 container ships scheduled to arrive at Yangon Port in Dec

by LOGISTICS

A total of 54 container ships carrying many containers are slated to enter Yangon Port in December, according to Myanmar Port Authority. This month, nine cargo ships run by Sealand Maersk Asia, seven each by New Golden Sea (Cosco) and Samudera Shipping Line, five by MSC Line, four by SITC Line, three each by Ever Green Line, IAL, PIL, RCL and X-Press Feeder, two each by Bay Line, BLPL and T12 Container Line and one by Land and Sea Line will enter Yangon Port, totalling 54 cargo ships. Last November, 51 cargo ships arrived at Yangon Port.

Therefore, the number of cargo ships increased by three from last month’s number. Yangon Port handled a total of 620 cargo ships this year, according to Myanmar Port Authority. The number of cargo ships entering Yangon Port stands at 49 in January, 48 in February, 50 in March, 52 in April, 54 in May, 53 in June, 49 in July, 55 each in August and September, 50 in October and 51 in November respectively. From May 2021, the arrival of ships at terminals in Yangon has increased again.

To fulfil the seaborne trade requirements, three new cargo ships by Maersk Line Myanmar (Sealand Maersk) started to run in 2021. Myanmar Port Authority and Yangon inner terminals are providing services to ensure the fast and reliable cargo handling and withdrawal of the containers. Earlier, the larger ships had draft problems preventing their sailing on the Yangon River. The draft extension is up to 10 metres with the new navigation channel accessing the inner Yangon River and the international ocean liners can access the inner port for now.

Source: The Global New Light of Myanmar

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Covid restrictions to be eased for travellers to Myanmar via int’l flights

by COVID

The rules and regulations for COVID-19 will be relaxed for travellers to Myanmar via international flights starting from 1 December, according to the Ministry of Health.
The local infection rate has declined and the positivity rate has reached below one per cent for 14 consecutive days, it is learnt.
Before, the travellers were required to show COVID-19 vaccination record cards as proof of being fully vaccinated or the RT-PCR negative test results within 48 hours. And then they would have to take the RDT test at the airport.
Now, the restrictions to take tests with RDT will be relaxed for travellers to Myanmar starting from the morning of 1 December, according to the announcement of the Health Ministry.
The details will be published in “Public Health Requirements for Travellers who Wish to Enter Myanmar through International Commercial Flights” on 1 December.
In addition, the public health requirements for travellers by relief flights and travellers via land borders will remain the same as the requirements were released on 8 October 2022, it is learnt.

Source: Global New Light of Myanmar

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Myanmar foreign trade surges to over $21.46 bln as of 18 Nov

by TRADING

MYANMAR’s external trade between 1 April and 18 November of the current financial year 2022-2023 tremendously edged up to US$21.468 billion, reflecting a significant increase of $3.9 billion from the year-ago period, according to the Ministry of Commerce. The figures surged from $17.55 billion in the corresponding period last year.

Myanmar’s export was worth over $10.427 billion whereas the country’s import was valued at $11 billion over the past seven and a half months. The border trade was up by $89.595 million, while the seaborne trade registered a significant rise of $3.8 billion. Myanmar exports agricultural produce, animal products, minerals, forest products, and finished industrial goods, while it imports capital goods, raw industrial materials, and consumer goods. 

The country’s export sector relies more on the agricultural and manufacturing sectors. The Ministry of Commerce is focusing on reducing trade deficit but export promotion, import substitution and market diversification. The external trade stood at $15.5 billion in the past mini-budget 2021-2022 (Oct-March) period and $29.58 billion in the 2020-2021 FY, as per the Commerce Ministry’s statistics.

Source: The Global New Light of Myanmar

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Singapore tops FDI ranking in Myanmar in past seven months

by INVESTMENT

Fourteen Singapore-listed enterprises pumped in foreign investments of US$1.154 billion into Myanmar in the past seven months (April-Oct) of the current financial year 2022-2023, the Directorate of Investment and Company Administration’s statistics showed. Singapore companies mainly put investments into urban development, real estate, power and manufacturing sectors. Hong Kong SAR stood as the second largest investors this FY with an estimated capital over $163 million by 11 enterprises and the existing ones.

China is ranked third in the investment line-up with more than $90 million from 22 businesses and the existing ones. One enterprise each from Belize, China (Taipei), the Republic of Korea and Japan also made investments in the past seven months respectively. The existing enterprises from China (Taipei), China, Hong Kong SAR, the Republic of Korea, India, Bangladesh and Seychelles also increased the investments. Myanmar attracted foreign direct investments of $1.45 billion from 52 enterprises during April-October period. Majority of the investments brought into the manufacturing sector. Agriculture sector drew $3.5 million from two projects.

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 mining sector earned $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 are also seen. Additionally, the livestock and fisheries sector saw a capital expansion of $1.545 million.

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), according to the statistics released by the DICA. Singapore stood as the largest foreign investor in Myanmar in the previous years, pulling in the FDI of  $1.85 billion in the FY 2019-2020, $2.4 billion in the FY 2018-2019, $724.4 million in the mini-budget period (April-September, 2018), $2.16 billion in the 2017-2018 FY, $3.8 billion in the 2016-2017 FY, $4.25 billion in the 2015-2016 FY, $4.29 billion in the 2014-2015 FY, $2.3 billion in the 2013-2014 FY and $418 million in the 2012-2013 FY respectively. Additionally, Singapore emerged as the second largest foreign investor in the Thilawa Special Economic Zone, after a top investor Japan.

Source: The Global New Light of Myanmar