Posts in category: ECONOMY

Myanma Gems Enterprise (MGE) has granted licences to 5,687 gem businesses.In Nay Pyi Taw, Yangon, Mandalay, Myitkyina, and Mongshu cities, those who wish to engage in gem and jewellery trading can apply for a licence at the appropriate MGE office.
“There are 5,687 valid licence holders. Those who are 18 years old can seek gem licences related to their businesses,” said an official of the MGE.
The MGE issues three different kinds of gem licenses: gems and jewellery trading licences for gem shops, manufacturing licences for finished gems and carvings and rough gemstone and finished products trading licences.The validity of each licence is one year. They must start the renewal procedure three months prior to the expiration date.

Source: The Global New Light of Myanmar

A total of 47,879 private industries were registered with the Directorate of Industrial Supervision and Inspection (DISI) during April–May of the current fiscal year 2025–2026, according to the Ministry of Industry. This follows consistent growth from 45,015 in FY 2022–2023 to 47,609 in FY 2023–2024. In FY 2024–2025 alone, 206 new industries were registered.

            Nearly 50% of all registered private industries are in the food sector, with businesses categorized into 24 groups, including chemicals, wood, electronics, printing, clothing, and pharmaceuticals.

            To support the growing private sector, DISI offers technical assistance, access to funding, market development, and worksite inspections for safety and environmental compliance. Yangon Region leads with 8,220 businesses, followed by Mandalay with 6,898, and Ayeyawady with 5,863.

Source: The Global New Light of Myanmar (18.6.25)

According to reports, a total of 5,400 tonnes of maize were exported from Min Htet Min Port (MHM), along with 2,700 tonnes from Shweme Jetty (SMJ) and 4,850 tonnes of rice from Wilmar International Port Terminal. This export initiative, conducted in collaboration between the Ministry of Commerce and the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI), aims to bolster the country’s economy.
Additionally, on 15 May, further exports included 71,900 tonnes of maize and 6,000 tonnes of rice from Sule Port Wharves (SPW), 53,500 tonnes of maize from Myanmar Industrial Port (MIP), 58,400 tonnes and 12,500 tonnes of rice from Ahlon International Port Terminal (AIPT), 29,500 tonnes of maize from The Myanmar Terminal-TMT, 5,400 tonnes of maize from Min Htet Min Port (MHM), 11,000 tonnes from Yangon International Gateway Terminal (YIGT), and 2,700 tonnes of maize from Myanmar Five Star Line (MFSL). These exports are set to continue.

Source: The Global New Light of Myanmar

Myanmar bagged US$256.44 million from mineral exports as of 8 March in the current financial year 2023-2024, commencing 1 April, according to the Ministry of Commerce.
The mineral exports plunged from $323.366 million recorded in the corresponding period last FY, showing a drop of over $66 million.
The public sector performed mineral exports valued at over $33 million, whereas the private sector saw mineral exports worth over $220 million.
The export items are gems and jewellery, gold, jade, pearl, diamond, lead, tin, tungsten, silver, copper, zinc, charcoal and other minerals.
Myanmar’s external trade with foreign partners reached over $27.758 billion as of 1 March in the current Financial Year 2023-2024, beginning 1 April, comprising exports worth over $13.378 billion and imports worth $14.379 billion. Myanmar’s seaborne trade value crossed over $20.55 billion this FY, while border trade was valued at $7.207 billion, the Ministry of Commerce’s statistics indicated.

Source: The Global New Light of Myanmar

Myanmar exported over 1.48 million tonnes of pulses worth over US$1.256 billion to foreign trade partners in the past 11 months of the current 2023-2024 financial year beginning 1 April, the Ministry of Commerce’s statistics showed.
Myanmar bagged $1.131 billion from pulses exports of over 1.338 million tonnes through maritime route, whereas over 143,119.469 tonnes of pulses worth $124.722 million were sent to the neighbouring countries via land borders between 1 April 2023 and 1 March 2024, totalling $1.256 billion from exports of 1,481,772.586 tonnes.
The value of Myanmar’s pulses exports totalled over US$1.47 billion from over 1.9 million tonnes in the previous FY 2022-2023, the Ministry of Commerce’s statistics indicated.
Myanmar mainly exports black grams, green grams and pigeon peas to foreign markets. Of them, black grams and pigeon peas are primarily shipped to India, while green grams are exported to China and Europe.
India has growing demand and consumption requirements for black grams and pigeon peas. According to a Memorandum of Understanding between Myanmar and India signed on 18 June 2021, India will import 250,000 tonnes of black grams and 100,000 tonnes of pigeon peas (tur) from Myanmar for five consecutive years from 2021-2022 financial year to 2025-2026 FY. This G-to-G pact will not affect the pulses’ annual quota set by India. Myanmar’s exporters are also entitled to deliver the pulses to India under that yearly quota.
The prevailing market prices are K3.065 million per tonne of black grams (urad) and K3.95 million per tonne of pigeon peas (tur), stated the Yangon Region Chambers of Commerce and Industry.
On 5 February, the prices hit a record high of K3.5 million per tonne of black grams and K4.197 million per tonne of pigeon peas.
Myanmar’s black gram output is estimated at 400,000 tonnes per year, whereas pigeon pea production crosses 50,000 tonnes.
The Myanmar Pulses, Beans, Maize and Sesame Seeds Merchants Association stated that black grams, which India primarily purchases, are commonly grown only in Myanmar, whereas pigeon peas, green grams and chickpeas are cultivated in African countries and Australia.

Source: The Global New Light of Myanmar

As the spot gold price leaps to an all-time high above US$2,150 per ounce, the domestic gold price peaked at K4 million per tical (0.578 ounce or 0.016 kilogramme) on 7 March 2024.
Along with a surge in spot gold price, the domestic gold price climbed to K4 million per tical.
Meanwhile, the Yangon Gold Entrepreneurs Association (YGEA) hit K3.7985 million per tical.
There is a price gap of around K200,000 per tical between the YGEA’s reference price and the actual market value.
The YGEA calculated the price depending on the Central Bank of Myanmar’s interbank reference exchange rate, with some addition, in spite of the US dollar gain in the unofficial forex market, causing the price gap to widen to K400,000-K500,000 per tical.
Following the CBM’s liberalization for authorized dealers on online forex trading platforms on 5 December 2023, the YGEA’s reference price and the actual market value are not that different. The kyat-US dollar exchange rate is K3,630 at present.
The US dollar exchange rate, therefore, influences the gap between the domestic gold market value and YGEA’s reference gold price.
The soaring dollar exchanging up to K4,000 drove the gold price up to a record high of K4 million per tical in August 2023.
The YGEA also requested that, on 24 January, its members deal in gold with immediate payment and cooperate to stabilize the gold price.

Source: The Global New Light of Myanmar

As the export earning policy remains unchanged, pulse prices have been significantly dropping in recent days. Meanwhile, green gram prices barely fluctuated.
The black gram prices were volatile in February. The price stood at K3.02 million per tonne on 23 February and jumped to K3.22 million on 27 February. Then, it plummeted to K2.94 million per tonne on 28 February. Similarly, the pigeon pea price also plunged to K3.657 million per tonne on 28 February from K3.91 million on 20 February.
Nonetheless, the prices of green gram were stable at K2,830-K3,250 per viss for Pakokku green gram and K4,250 for Shwe Wah green gram variety between 23 and 29 February.
The chickpea prices decreased to K5,925-K6,300 per viss on 29 February from K6,250-K6,400 on 27-28 February.
The FOB prices stood at US$980-$1,000 per tonne of black gram (FAQ) and $1,220-$1,240 for pigeon pea from 19 to 24 February, whereas the prices slumped to $955-$975 for black gram (FAQ) and $1,190-$1,210 for pigeon pea on 1 March. Also, the FOB price dipped to $770-$800 per tonne of green gram from central Myanmar regions and $870-$900 for the Shwewah variety on that day, which was just a tiny price difference.
There is news spreading in India’s market that the reference price is likely to be set to control the prices of locally produced pulses. The misinformation on Myanmar’s currency market also influenced the price fluctuation.

Source: The Global New Light of Myanmar

DEPUTY Prime Minister Union Minister for Planning and Finance U Win Shein, in his capacity as
Chairman of Microfinance Business Supervisory Committee (MBSC), presided over 1/2024 meeting of the
committee, yesterday. First, the Union Minister said there are 178 microfinance institutions in regions and
states, which have been operating their business activities in 2,245 wards and 26,986 villages in 263
townships, with 3.45 million of members and K1,835.954 billion remaining loans until January 2024. The MBSC should supervise the licensed microfinance companies to follow the law, rules and regulations, procedure and directives in offering financial services, and should facilitate the loan services of local banks for microfinance institutions to overcome the hardships in withdrawing cash and receiving foreign loans due to COVID-19 and certain political issues.

It also needs to conduct classification of loans and ease certain irrecoverable debt, allow corporate
insurance representative of microfinance institutions, digital monetary services, new loans and expansion of industry in other regions with potential businesses. He then urged the microfinance institutions to disburse MSME loan for MSME development which is a priority of the government and carry out corporate social responsibility-CSR for members in addition to grant loan for the whole Supply Chain from planting to production processes. Then, Deputy Minister U Maung Maung Win and relevant officials discussed the work plans of microfinance business, estimation to change interest rate, licence applications of three microfinance institutions, expansion and Mobile Financial Services permit.

Source: The Global New Light of Myanmar

An online business matching has been conducted between Myanmar and Russian businesspersons on 9 February to discuss measures to export Myanmar’s products to Russia, according to Daw Naw Mutar Kapaw, the director general of Myanmar Trade Promotion Organization of the Ministry of Commerce.
The meeting was titled ‘Agricultural Produce Export from Myanmar to Russia. It was conducted by collaboration between Myanmar and Russian business entrepreneurs, Myanmar Trade Promotion Organization, and Russian Trade Representative Office in Yangon.
Daw Naw Mutar Kapaw said, “This is the very first discussion between Myanmar and Russian traders and it was led by Myanmar side. We will continue making efforts to send representatives mutually for the trade collaboration between the two countries.”
The online business matching was attended by the Director General of Myanmar Trade Promotion Organization and officials, and representatives of the Union of Myanmar Federation of Chambers of Commerce and Industry, Myanmar Rice Federation, Myanmar Pulses, Beans, Maize and Sesame Seeds Merchants Association, Myanmar Fishery Products Processors & Exporters Association, Myanmar Fruit, Flower and Vegetable Producers and Exporters Association, Myanmar Rubber Planters and Producers Association, and Myanmar Coffee Association. The Russian agricultural companies led by Mr Vladimir S Kazadaev, the Russian trade representative virtually attended the meeting.

Source: The Global New Light of Myanmar

The Central Bank of Myanmar (CBM) injected US$11 million and 200 million Thai baht into the financial market on 5 February 2024.
The CBM sold $13 million on 1 February in the forex market and five million dollars and 50 million Thai baht on an online trading platform for the exporters/importers on 2 February, totalling $29 million and 250 million Thai baht within five days.
The reference exchange rate set by the CBM is K2,100 against a US dollar, while it was valued at approximately K3,500 at the over-the-counter market. The exchange rates are K99 per Thai baht and K490 per Chinese yuan.
The CBM sold $68.33 million, 313.5 million Thai baht and 4.2 million Chinese yuan in January 2024. It also injected $22.15 million into the fuel oil sector in December 2023.
The CBM allowed authorized dealers (private banks) to operate online forex trading freely as per the market rate, depending on supply and demand.
Additionally, the outward remittance procedures must comply with the rules and regulations specified by the Foreign Exchange Supervisory Committee.

Source: The Global New Light of Myanmar