MGMA to assist ease of import licence for CMP export development

Myanmar Garment Manufacturers Association announces that it will assist in the ease of import licences for necessary inputs for raising the CMP garment export sector.
Under the guidance of the CSS Taskforce secretary, MGMA submitted a letter requesting information to help facilitate the licensing process for importing necessary inputs for the CMP sector to all its member factories and companies on 14 February.
The letter says MGMA would assist in facilitating import licences for necessary inputs such as spare parts, lubricants and chemicals used in CMP garment factories in order to be efficient with the CMP export sector. MGMA members will need to fill out requirements, which are set according to factories, in an Excel sheet and submit a soft copy to mgma@myanmargarments.org by 4 pm, 16 February. MGMA has already sent an Excel file to its member factories’ respective Admin and HR mails.

Source: The Global New Light of Myanmar

Exports from manufacturing sector cross US$7.6 bln in 10 months

The export value from the manufacturing sector reached US$7.6 billion in the past ten months of the current financial year 2023-2024, the Ministry of Commerce’s statistics showed.
Finished industrial goods exports earned $9.5 billion in the corresponding period last FY, indicating a significant drop of $1.9 billion this FY compared to the year-ago period.
Myanmar exports agricultural produce, livestock products, fisheries, minerals, forest products, finished industrial goods and other goods. At the same time, it imports capital goods, intermediate goods, raw materials by CMP garment factories and consumer goods.
Myanmar has been implementing the National Export Strategy (NES) 2020-2025 to bolster exports. The priority sectors of the NES comprise agricultural production, garment and apparel, industrial and electronic device, fishery business, forest product, digital manufacturing and service, logistic service, quality management, trade information service, innovation and entrepreneurship sectors. 

Source: The Global New Light of Myanmar

Myanmar-made peanut shellers, corn harvesters gain popularity among farmers

Thanks to locally made peanut shelling machines and corn combine harvester, the farmers can now save time, and the number of users is increasing, according to the Nan Ko Ko Peanut Sheller and Corn Harvester Manufacturing.
These machines are made of iron frame and powered by 22 horsepower engines.
“Farmers can save time. They are fast. After threshing and shelling with this machine, seeds can grow again. When the ears of corn are inserted, kernels are produced. And if you put in peanut pods, you get peanut kernels. These machines are being sold well in the market. The number of users has increased,” an official said.
When a peanut sheller runs for one hour, it produces 30 baskets of kernels while a corn combine harvester produces 70 baskets of corn kernels. Since these are time- and labour-saving agricultural machines, many farmers have chosen to use them. A corn combined harvester costs K4.5 million and a peanut sheller K7.5 million

Source: The Global New Light of Myanmar

Manufacturing sector exports top US$6.8 bln in nine months

The export value from the manufacturing sector crossed US$6.8 billion in the past nine months of the current financial year 2023-2024, the Ministry of Commerce’s statistics showed.
Industrial finished goods exports earned $8.569 billion in the corresponding FY period. The figures reflected a significant drop of $1.7 billion this FY compared to the year-ago period.
Myanmar exports agricultural produce, livestock products, fisheries, minerals, forest products, finished industrial goods and other goods. At the same time, it imports capital goods, intermediate goods, raw materials for CMP garment factories and consumer goods.
Myanmar has implemented the National Export Strategy (NES) 2020-2025 to bolster exports. The priority sectors of the NES comprise agricultural production, garment and apparel, industrial and electronic device, fishery business, forest product, digital manufacturing and service, logistic service, quality management, trade information service, innovation and entrepreneurship sectors.

Source: The Global New Light of Myanmar

Garment exports top US$2.9 bln in past eight months

The export value of garments processed on a Cutting-Making-and-Packaging basis amounted to over US$2.966 billion as of 1 December in the financial year 2023-2024 beginning 1 April, which is the highest among ten major export items, the Ministry of Commerce’s statistics showed.

The export values stood at $2.22 billion from natural gas export, $474.126 million from black gram, $378.64 million from rice and broken rice, $271.312 million from corn, $220.418 million from fish, $185.983 million from green gram, $123.691 million from natural rubber, $101.952 million from pigeon pea and $79.404 million from metal and ores.

Of top ten export countries of Myanmar, Thailand ranked first with $2.472 billion, followed by $1.93 billion by China, $784.703 million by Japan, $572.107 million by India, $412.675 million by the US, $356.301 million by Germany, $321.412 million by Spain, $316.806 million, $261.457 million by the Republic of Korea and $222.89 million by the UK.

Myanmar exports black gram, rice and broken rice, corn, green gram, rubber, pigeon pea, sesame, onion, turmeric, tamarind, dried ginger, konjac, castor oil seed, coffee bean, cashew nuts, cassava, watermelon, muskmelon, mango, tissue-culture banana, agricultural products, various fish, shrimp, crab and dried fish to external markets. Additionally, Myanmar has been exerting efforts to enhance manufacturing exports, and veneer and plywood, finished wood products, clothes, sugar and industrial products are also sent to foreign markets. In addition to the border, Myanmar exports goods by sea and air. 

Source: The Global New Light of Myanmar

Commerce Ministry to focus on value-adding in textiles for exports

THE Ministry of Commerce will work together with all the stakeholders in the textile industry to penetrate
international markets with value-added products. Under the support of the Ministry of Commerce, Myanmar exports agricultural produce, livestock products, forest products, minerals, fisheries, finished industrial goods and other goods to external markets.

At present, Myanmar consulates and embassies to the relevant countries are striving for the value-added
products supplied by Myanmar’s SMEs that meet international standards and criteria to enter the international markets. Those interested businesspersons can contact the Myanmar Trade Promotion Organization under the Ministry of Commerce and the commercial attaché of Myanmar’s Consulate in Dubai through the Myanmar Garment Manufacturers Association and Myanmar Textile and Garment Manufacturers Association to penetrate the foreign markets with their value-added products from the garment sector.

Source: The Global New Light of Myanmar

Manufacturing sector exports earn US$5.5 bln in Apr-Oct

THE export value from the manufacturing sector hit US$5.55 billion in the past seven months of the
current financial year 2022-2023 beginning 1 April, the Ministry of Commerce’s statistics showed.
The figures in the past seven months indicated a sharp drop of $1.45 billion compared to that $7 billion
recorded in the corresponding period of the 2022-2023 FY.

Garment export is ranked first among the top ten export items including natural gas and minerals.
Myanmar conveys agricultural produce, animal products, minerals, forest products, and finished industrial
goods to foreign trade partners, while it brings in capital goods, intermediate goods, raw materials imported by the CMP enterprises and consumer goods.

Myanmar has been implementing the National Export Strategy (NES) 2020-2025 to bolster exports.
The priority sectors of the NES consist of agricultural production, garment and apparel, industrial and electronic device, fishery business, forest product, digital manufacturing and service, logistic service, quality management, trade information service, innovation and entrepreneurship sectors.

Source: The Global New Light of Myanmar

Myanmar’s manufacturing sector attracts FDI surpassing US$63.5 mln in April-August

MYANMAR’S manufacturing sector attracted more than US$63.5 million from 26 enterprises in the
past five months (Apr-Aug) of the current financial year 2023-2024, including capital expansion by the existing enterprises, as per the statistics released by the Directorate of Investment and Company Administration (DICA). Chinese companies primarily made investments in the manufacturing sector. The Myanmar Investment Commission gave the go-ahead to 31 foreign projects from seven countries in the past five months, with an FDI of US$484.155 million, including expansion of capital by the existing enterprises, and the power sector topped the FDI line-ups with $317.178 million from two enterprises.
The agriculture sector drew over $2.5 million from three enterprises. The transport and communication
sector saw a capital expansion of $77.82 million. An increase of capital worth $23 million was pumped into the livestock and fisheries sector as well. The manufacturing enterprises that need a large labour force are prioritized to create job opportunities for the local community.

Myanmar’s manufacturing sector is largely concentrated in garments and textiles produced on a
cutting, making, and packing (CMP) basis, and it contributes to the country’s GDP to a certain extent. Following H&M Group phasing outsourcing from Myanmar, the Myanmar Garment Manufacturers Association (MGMA) will accelerate its effort to keep improving Myanmar’s garment sector, joining hands with international brands and partners, as per the MGMA’s statement on its commitment released on 25 August. The MGMA has implemented a Voluntary Labour Compliance Assessment (VLCA) from February
2020 to evaluate the compliance of the factories in line with the national labour laws and international labour standards. To beef up the assessments and expand enrolment, the online version was launched in November 2022. More than 220 factories have accomplished the assessment so far and over 100 are still under scrutiny.

Source: The Global New Light of Myanmar

Manufacturing sector exports surpass US$3 billion by 25 August

The export value from the manufacturing sector totalled US$3.85 billion as of 25 August in the financial year 2023-2024 beginning 1 April, Director U Nanda of the Trade Department under the Ministry of Commerce said.
Exports by the private sector were estimated at $2.51 billion while exports worth $1.34 billion were performed by the government sector.
“Myanmar’s manufacturing sector is largely concentrated in garment and textiles manufactured on the cutting, making, and packaging (CMP) basis this FY,” U Nanda said.
The CMP garment export is the main export item in Myanmar, followed by natural gas. Meanwhile, petroleum products are top import goods, followed by textile and garment raw materials.
Myanmar also exports agricultural produce, livestock, fisheries, minerals and forest products to external markets. Of export item groups, the manufacturing sector generates the highest export earnings.

Source: The Global New Light of Myanmar

Central Bank Governor calls for financial support to boost local manufacturing, MSMEs

The Central Bank of Myanmar (CBM) governor said on Monday in the recent meeting that it is necessary to make solid efforts to provide the local manufacturing industries including MSMEs with financial support.
The governor emphasized that the CBM urged the banks to follow the rules and regulations to ensure a solid banking system, saying the relevant departments of CBM keep watching the banks whether they comply with the instructions. The CBM also considers the internal control and risk management regarding the risk-taking level of the banks, the macro-economy of the country, external impacts and credit risk.
There should be economic growth and it should provide the public with true information. It should also carry out the work procedures properly and follow the rules and regulations.
Moreover, the governor urged all to make business strategy depending on the market condition, follow the rules for foreign currency, focus on monitoring anti-money laundering and counter-terrorism financing and comply with the rules and regulations of the CBM.

Source: The Global New Light of Myanmar