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Export of Myanmar aquaculture products generates $89.8 mln as of 5 Nov

by TRADING

The value of Myanmar’s seafood exports as of 5 November in the current mini-budget period (October 2021 March 2022) was estimated at US$89.88 million, which increased slightly from $78.35 million in the corresponding period of the last financial year 2020-2021. Myanmar Fisheries Federation (MFF) is attempting to grow fishery export regardless of the COVID-19 disruption on maritime trade, closure of border gates and fuel oil price instability. Despite the open season of offshore fishing, Myanmar’s fishery export industry is facing a series of challenges such as the oil price hike, surge in container shipping rate, the closure of border posts, disruption on maritime trade and the COVID-19 negative impacts. Consequently, it will harm the export sector somehow in the long term.

The high input cost such as fishing net, oil price posed another burden for the industry, coupled with the devaluation of Kyat in the forex market, Mawlamyine Commodity Centre stated. The marketable fish products, especially fish, shrimp, eel and crab from Taninthayi andAyeyawady regions and Rakhine State are primarily exported to foreign markets. Myanmar normally exports fisheries products, such as fish, prawns, and crabs, to markets of 40 countries, including China, Saudi Arabia, the US, Japan, Singapore, Thailand, and countries in the European Union. The federation is turning to the Bangladesh market with export potentials at present. MFF is working together with the stockholders in the supply chain to have sustainable export growth in the industry.

The fishery exports through the Sino-Myanmar border have ground to a halt following the consequences and safety measures on the imported seafood amid the COVID-19 pandemic, traders stressed. Myanmar’s fishery export was experiencing a downturn due to the import restrictions triggered by the detection of the COVID-19 on fish imports in China. Chinese market constitutes about 65 per cent of Myanmar’s fishery exports. China accounted for US$254 million out of the overall fishery export value of over $850 million in the FY 2019-2020. At present, China shut down the border areas in wake of the COVID surge in Myanmar. Myanmar Fisheries Federation stated that only the G2G pact can tackle problems faced in the export of farm-raised fish and prawns and ensure smooth freight movement between countries to bolster exports.

The MFF is making concerted efforts to increase fishery export earnings by developing fish farms that meet international standards and adopting advanced fishing techniques. To ensure food safety, the foreign market requires suppliers to obtain Hazard Analysis and Critical Control Points (HACCP) and Good Aquaculture Practices (GAqP) certificates. To meet international market standards, fishery products must be sourced only from hatcheries that are compliant with GAqP. The MFF is working with fish farmers, processors, and the Fisheries Department under the Ministry of Agriculture, Livestock, and Irrigation to develop the GAqP system. Processors can screen fishery products for food safety at ISO-accredited laboratories under the Fisheries Department. There are 480,000 acres of fish and prawn breeding farms across the country and more than 120 cold-storage facilities in Myanmar. During the last financial year 2020-2021 (October 2020-September 2021), Myanmar shipped $784.889 million worth of seafood, the Ministry of Commerce’s data showed.

Source: The Global New Light of Myanmar

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Agricultural export tops $315 mln as of 5 November

by TRADING

The value of agricultural exports was registered at US$315.04 million as of 5 November in the current mini-budget period (Oct 2021-March 2022), as per the statistic of the Ministry of Commerce. The figures reflect a decrease of $28.49 million. The agro exports stood at $343.53 million in the corresponding period of the 2020-2021 FY as the main trade partner China shut down all the borders in wake of COVID-19 negative consequences, according to the trade figures released by the Ministry of Commerce. Last month, the coronavirus pandemic impacted the foreign demand for agricultural products, livestock, mineral and finished industrial goods.

In contrary, the exports of fishery, forest products and other goods rose slightly. In the exports sector, the agriculture industry performed the best, accounting for 37 per cent of overall exports. The chief items of export in the agricultural sector are rice and broken rice, pulses and beans and maize. Fruits and vegetables, sesame, dried tea leaves, sugar, and other agro products are also shipped to other countries. Myanmar’s agro products are primarily exported to China, Singapore, Malaysia, the Philippines, Bangladesh, India, Indonesia, and Sri Lanka. Sometimes, the export market remains uncertain due to unsteady global demand.

The country requires specific export plans for each agro product, as they are currently exported to external markets based upon supply and demand. The G to G pact also ensures the strong market for the farmers. Contract farming systems, involvement of regional and state agriculture departments, exporters, traders, and some grower groups, are required in order to meet production targets, the Agriculture Department stated. The Commerce Ministry is endeavouring to help farmers deal with challenges such as high input costs, procurement of quality seeds, high cultivation costs, and erratic weather conditions. The agricultural exports jumped to US$4.6 billion last financial year 2020-2021, despite the downward trend in other export groups.

Source: The Global New Light of Myanmar

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1,300 companies struck off register due to absence of AR in past four months: DICA

by INVESTMENT

A total of 1,300 companies were struck off the register in the past four months (July-Oct) as they failed to submit annual return (AR) on the online registry system, MyCO, according to the Directorate of Investment and Company Administration (DICA). The DICA has notified any registered company which fails to submit its AR on MyCO are to be suspended, under 430 (F) of Myanmar Companies Law, according to the DICA’s notification. All registered companies need to file AR on the MyCO registry system within two months of incorporation, and at least once every year (not later than one month after the anniversary of the incorporation), according to Section 97 of the law. According to Section 266 (A) of the Myanmar Companies Law 2017, public companies must submit annual returns and financial statements (G-5) simultaneously.

All overseas corporations must submit ARs in the prescribed format on MyCO within 28 days of the financial year ending, as per Section 53 (A-1) of the Myanmar Companies Law 2017. As per DICA’s report, more than 16,000 companies were suspended for failing to submit AR forms within the due date. Newly established companies are required to submit ARs within two months of incorporation or face a fine of K100,000 for filing late returns. The DICA has notified that any company which fails to submit its AR within 13 months will be notified of its suspension (I- 9A). If it fails to submit the AR within 28 days of receiving the notice, the system will show the company’s status as suspended.

Companies can restore their status only after shelling out a fine of K50,000 for AR fee, K100,000 for restoration of the company on the register, and K100,000 for late filing of documents, totalling K250,000. If a company fails to restore its status within six months of suspension, the registrar will strike its name off the register, according to the DICA notice. The registration and re-registration of companies on the MyCO website commenced on 1 August 2018, in keeping with the Myanmar Companies Law 2017. The number of companies registered on the online registry system, MyCO, topped more than 2,000 in the first half of this year. Earlier, MyCO received more than 1,000 applications from new companies every month. At present, 100 per cent of the applicants are using the online registration platform, according to data provided by the DICA.

Source: The Global New Light of Myanmar

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MIC nods four foreign projects in October

by INVESTMENT

The Myanmar Investment Commission gave the go-ahead to four foreign projects from China, China (Taipei) and Nepal in October of the current mini-budget period and the capital of US$14.883 million were brought into the country, including expansion of capital by existing enterprises, according to the Directorate of Investment and Company Administration (DICA).

Those enterprises are to execute in manufacturing and power sectors respectively. The Ministry of Investment and Foreign Economic Relations has been inviting responsible businesses to benefit the country. Myanmar Investment Commission (MIC) ensures to approve the responsible businesses by assessing environmental and social impacts.

The commission is working together with the relevant departments to screen the projects. Next, the COVID-19 surge and the political changes led to the drastic fell in FDI sector compared with the previous years. Myanmar attracted foreign direct investment of more than US$3.79 billion in the last financial year 2020-2021 from 48 enterprises.

Source: The Global New Light of Myanmar

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Myanmar receives 1 million doses of Sinovac vaccine donated by China

by COVID

The People’s Republic of China donated one million doses of the Sinovac COVID-19 vaccine to Myanmar yesterday. The donation ceremony was held through videoconferencing and attended by Union Minister for Health Dr Thet Khaing Win, Chinese Ambassador to Myanmar Mr Chen Hai and officials.

The Union Minister expressed words of appreciation for the donation at the ceremony and it was concluded in the evening after discussions on issues such as cooperation for COVID-19 immunization, increased monitoring and deployment of health workers along the border, including in Shan State and Kachin State, to reopen the border trade posts and to ensure timely treatment, and implementation of the Myanmar Centre of Disease Control supported by China and the establishment of a training school for healthcare workers.

With the donated one million doses of the vaccine and another one million doses purchased from China, which both arrived yesterday, the vaccination against COVID-19 will be continued for the students over the age of 12 across Myanmar. These vaccines will be distributed to regions and states based on the requirement, via road transport or with the helpof the Tatmadaw (Air) and Myanmar airways by maintaining the cold chain.

As of 11 November 2021, 9.3 million people have been fully vaccinated while 5.1 million people have received the first dose of the COVID-19 vaccine in Myanmar, making the total dose 23.7 million. As a measure to prevent and control the spread of COVID-19, The Ministry of Health is administering the COVID-19 vaccines to the target groups. The people are urged to receive the COVID-19 vaccines, and those who have already received the first dose are encouraged to go to the nearest immunization centre and receive the second dose on the scheduled immunization date or near the due date, as well as to actively participate in the vaccination activities.

Source: The Global New Light of Myanmar

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YRIC endorses 2 foreign projects, 2 domestic projects to create 2,753 jobs

by INVESTMENT

The Yangon Region Investment Committee (YRIC) endorsed two foreign enterprises and two domestic businesses in the manufacturing sector, with an estimated capital of US$6.099 million and K8.64 billion. Those enterprises are to create 2,753 jobs for the residents, as per the YRIC’s video conferencing convened recently. Yangon Region Chief Minister U Hla Soe, who also acts as chairman of YRIC, the committee members and the investors joined the video conferencing to ensure the foreign capital inflow during the COVID-19 pandemic.

Those enterprises will execute manufacturing of freshwater and saltwater fish and prawn on contract processing system and normal system, and manufacturing of garment and production of plastic on Cutting-Making and Packaging (CMP) basis. Furthermore, the committee members met with 16 companies to discuss the general matters of investment proposals. To simplify the verification of investment projects, the Myanmar Investment Law allows the region and state Investment Committees to grant permissions for local and foreign proposals, where the initial investment does not exceed K6 billion, or $5 million.

The investors can inquire about the investment and submit the proposal by dialling (01-658263 and 01-658264) of YRIC located on Kaba Aye Road, Yankin Township. The proposals worth above K6 billion can contact the Myanmar Investment Commission located on Thitsar Road, Yankin Township via 01-658102 and 01-658103, YRIC stated. The manufacturing sector has attracted the most foreign investments in Yangon Region, with enterprises engaging in the production of pharmaceuticals, vehicles, container boxes, and garments on a Cutting, Making, and Packing (CMP) basis. To date, foreign investments from China, Singapore, Japan, Hong Kong, the Republic of Korea, Viet Nam, India, China (Taipei), Malaysia, the British Virgin Islands and Seychelles are arriving in the region.

Source: The Global New Light of Myanmar

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Government of the Republic of the Union of Myanmar Ministry of Health

by COVID

Order No 483/2021

8th Waxing of Tazaungmon 1383 ME
11 November 2021

The Ministry of Health hereby announced the order by exercising the authority stipulated in Sub-Section (b) of Section 21 of the Prevention and Control of Communicable Diseases Law.

  1. The Ministry of Health has taken preventive measures against Coronavirus Disease 2019 (COVID-19) in real-time. Therefore, the orders were issued for the people from some townships of Nay Pyi Taw, regions and states to stay at home in order to more effectively control the infection of the pandemic.
  2. However, as the people from these townships exactly abide by the disciplines of preventing the COVID-19, further finding of confirmed patients within 14 days, declining of group-wise infection among the patients, the emphasis of the relevant governments, organizations and people in raising the health awareness during the stay-at-home period, further finding of confirmed patients and contact persons in laboratory tests within 14 days, and active participation of township administration bodies, health staff, those from relevant departments and organizations and volunteers as well as the people in the prevention and control of the pandemic were seen.
  3. Hence, the people residing in the following townships of the respective regions and states were removed from the list of Stay-at-Home programmes as of 4 am on 12-11-2021.
    (a) Taninthayi Region
    (1) Dawei Township
    (2) Myeik Township
    (b) Bago Region
    (1) Ottwin Township
    (2) Kawa Township
    (3) DaikU Township
    (4) Pyay Township
    (5) Nattalin Township
    (c) Magway Region
    (1) Pakokku Township
    (2) Salin Township
    (d) Mandalay Region
    (1) Wundwin Township
    (e) Mon State
    (1) Mawlamyine Township
    (2) Thanbyuzayat Township
    (f) Yangon Region
    (1) Hmawby Township
    (2) Dagon Township
    (g) Ayeyawady Region
    (1) Kangyidaunt township
    (2) Kyonpyaw Township
    (3) Thaboung Township
  4. The people must strictly abide by the disciplines related to the prevention and control of the COVID-19 issued by the Ministry of Health after deleting these townships from the list of stay-at-home programmes.

Source: The Global New Light of Myanmar

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Announcement of COVID-19 diagnostic programme for domestic passengers

by COVID

The third wave of the COVID-19 outbreak has been brought under control due to the rapid pace of treatment, and the restrictions on disease control have been gradually eased. For the convenience of domestic passengers, RDT can be used to detect the presence of the COVID-19 virus within 48 hours prior to departure at the time of check-in:
(A) No more than 48 hours before departure, COVID-19 will be screened daily from 9:00 am to 11:00 am and from 1:00 pm to 3:00 pm at the offices of the relevant Township Public Health Department where the airport is located.
(B) In addition, laboratory tests can be performed at fixed rates at private hospitals, clinics and diagnostic centres permitted by the Ministry of Health in line with the procedures.

Ministry of Health
Date: 10 November 2021

Source: The Global New Light of Myanmar

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Republic of the Union of Myanmar

by ECONOMY

Central Bank of Myanmar
Notification No 46/2021

7th Waxing of Tazaungmon 1383 ME
10 November 2021

The Central Bank of Myanmar has amended paragraph 35 of the Foreign Exchange Management Regulations exercising the power stipulated in Section 49-A of the Foreign Exchange Management Law with the approval of the Government of the Republic of the Union of Myanmar as follows: –
“Paragraph – the holder of a foreign currency trading licence shall inspect whether the exporters receive export earnings within three months from the date of the shipment of the goods accordingly to the evidence of the actual exports.”

Than Nyein
Governor
Central Bank of Myanmar

Source: The Global New Light of Myanmar

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Imports down by $120 mln last month, reports MoC

by TRADING

The value of Myanmar’s imports between 1 and 29 October of the current mini-budget period 2021-2022 (October-March) sank to $1 billion, which reflects a drop of $121.98 million compared to the year-ago period, the Ministry of Commerce’s data indicated. The import value stood at US$1.12 billion the last FY2020-2021. The imports of capital goods declined last month, while the other import groups (consumer, intermediate goods, and CMP businesses) witnessed a slight increase.

Last month, capital goods, such as auto parts, vehicles, machines, steel, and aeroplane parts were brought into the country. Their import value was estimated at $170.18 million. The figurewas over $229.5 million lower than those values registered in the same period of the previous FY. Meanwhile, Myanmar imported consumer products worth $262.38 million, including pharmaceuticals, cosmetics, and palm oil. The imports of consumer products showed a slight decrease of $3 million compared with the same period in the previous FY.

Intermediate goods make up the largest share of Myanmar’s imports, with petroleum products and plastic raw materials being the main import items. This year, imports of raw materials climbed up to $413 million from $326.4 million registered during the year-ago period. During the same period, raw materials worth over $153 million were also imported for the Cut-Make-Pack (CMP) garment sector, showing an increase of $26.48 million compared with last FY. The top 10 import countries to Myanmar are China, Singapore, Thailand, Malaysia, Indonesia, India, Viet Nam, Japan, the Republic of Korea and the US, as per data of the Ministry of Commerce.

Source: The Global New Light of Myanmar