Myanmar Monthly Business Brief, October 2026

Economy

Myanmar, Malaysia Seek Greater Investment and Economic Cooperation at Business Dialogue

The Myanmar-Malaysia High-Level Business Dialogue 2026 was held in Kuala Lumpur on 8 October with the aim of promoting investment and economic cooperation between Myanmar and Malaysia, with President of the Republic of the Union of Myanmar U Min Aung Hlaing, attending and delivering remarks on opportunities to strengthen bilateral economic ties. The dialogue was jointly organized by the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) and the National Chamber of Commerce and Industry of Malaysia (NCCIM) at the InterContinental Kuala Lumpur Hotel.

In his opening remarks, President U Min Aung Hlaing said Myanmar and Malaysia bilateral relations have gradually expanded such areas as trade, investment, connectivity and technology, energy, tourism, education and culture. Malaysia is currently an important trading partner of Myanmar, with bilateral trade reaching US$1.662 billion in 2025 and exceeding US$1.01 billion through August this year, he said.

Myanmar exports agricultural products, fishery products, rubber and raw materials, and garments to Malaysia, while importing fuel and lubricants, petroleum products, palm oil, food products, industrial finished goods, electronic products, plastic raw materials, chemical raw materials and pharmaceuticals from Malaysia.

Malaysia is currently Myanmar’s ninth-largest foreign investor, with 32 investment projects worth more than US$1 billion being implemented in Myanmar. He invited Malaysian investors to explore opportunities in food production and processing, agricultural processing, halal food, fisheries, rubber and rubber-based products, packaging, cold storage and logistics, industrial production and other value-added sectors. The President also encouraged cooperation in modernizing the entire farm-to-market supply chain, including seeds and agricultural inputs, modern machinery, post-harvest loss reduction, drying, cleaning, cold storage, packaging and distribution. The integration of digital logistics, warehouse management, cargo tracking and quality-control systems could further reduce post-harvest losses and improve export supply-chain management, he said. He invited Malaysian investors to cooperate in the palm oil sector, noting Malaysia’s experience in palm cultivation, palm oil milling, refining and value-added edible-oil production.

Finance

FE market rate volatile; Gold price declined and Fuel Prices stable

The kyat value was K4,590 per US dollar on average at market selling rate in October which was increased by K140 than September rate. Online trading through the Central Bank of Myanmar (CBM) throughout the month, trading millions of US dollars, yuan, and baht to stabilize the exchange rate and support imports of essential goods. According to CBM, online trading amount of US dollars 188 million, Thai baht 421 million and Chinese Yun 281 million was recorded during October.

16 Peye Gold price was decreased at 10 million kyat in October.   Domestic fuel prices were also stabled at K 4,540-4,590 per litre in Octane and K 4,515-5,480 in diesel at the end of October.

Manufacturing

Myanmar Garment Sector Endures with 500+ Factories, Faces Labour Gap

More than 500 garment factories are actively running across Myanmar, with some experiencing labour shortage. Nearly 600 garment factories are operating at present. There are over 500 member factories of the Myanmar Garment Manufacturers Association. Worker migration results in shrinking domestic labour forces; therefore, many factories genuinely need workers. There are many jobs available at these factories. These factories and workshops are not fully staffed. The number of workers needed is far greater than the number of workers displaced from the factories that have closed. The CMP factories operate with only about 700,000 to 800,000 workers, whereas they should be running with more. The industry is struggling to find enough workers even to operate with 500,000 to 600,000. Therefore, there are many vacancies still available for locals. Most garment factories are working on the CMP (Cut Make Pack) basis. Workers face stagnant wages and salaries, while employers continue to grapple with a shortage of skilled labour, resulting in a significant ongoing demand for workers.

Energy

Thanlyin Refinery Phase I Commissioned

President of the Republic of the Union of Myanmar U Min Aung Hlaing delivered a speech in honour of commissioning Thanlyin Oil Refinery (Phase I) under the Ministry of Electricity and Energy in Thanlyin, Yangon on 17 October. The President underlined that when constructing and operating a new oil refinery today, it is of Phase I of the refinery. After the ceremony, the President gave necessary guidance on the implementation of the second phase of the refinery to the Union Minister.

Yangon’s Daily CNG Supply Hits 26M Cubic Feet

The Ministry of Electricity and Energy is distributing and selling approximately 26 million cubic feet of compressed natural gas (CNG) each day to vehicles in Yangon Region, ensuring that supply meets demand.

A total of 26,957 vehicles have been registered to use CNG. This includes 1,275 cargo vehicles, 5,516 YBS passenger buses, 642 other passenger vehicles, 17,991 chartered vehicles and taxis, 184 staff transport vehicles, 1,159 privately owned commercial vehicles and 190 departmental vehicles. The required CNG is supplied through 41 filling stations that are open daily from 4 am to 11 pm.

There are no restrictions on the number of vehicles or the frequency of refuelling. To help travellers benefit from affordable transport fares, CNG is sold at a subsidized rate of K273.25 per kilogramme. Approximately 3,300 YBS buses, 31,000 taxis and 1,500 other vehicles visit the 41 filling stations each day for refueling, with many vehicles refueling twice a day.