Weekly Business News from Myanmar

การจัดทำ งปม. สหภาพ (Union Budget) ประจำปี งปม. ๖๕/๖๖
การจัดทำ งปม. สหภาพ (Union Budget) ประจำปี งปม. ๖๕/๖๖ เมื่อวันที่ ๔ มี.ค. ๖๕ พล.อ. อาวุโส Soe Win รอง ปธ. สภาบริหารแห่งรัฐ (SAC) เป็น ปธ. ใน กปช. ประสานงานเกี่ยวกับการจัดทำ งปม. สหภาพ (Union Budget) ประจำปี งปม. ๖๕/๖๖ และได้ให้นโยบายเกี่ยวกับ การจัดทำ งปม. ประจำปี ๖๕/๖๖ โดยต้องคำนึงถึงภาวะ ศก. ของโลกที่ถดถอย ราคาน้ำมันและทองคำมีความผันผวนจากสถานการณ์ความขัดแย้งระหว่างชาติมหาอำนาจ รวมทั้งผลกระทบจากการแพร่ระบาดของโควิด-๑๙ ซึ่ง มม. ย่อมได้รับผลกระทบด้วยเช่นกัน ดังนั้น การจัดทำ งปม. จะต้องมีวัตถุประสงค์เพื่อกระตุ้น ศก. ของ ปท. บรรเทาข้อจำกัดด้านรายได้ของ ปชช. กระจายความช่วยเหลือให้กับภาคส่วนต่าง ๆ
USD $ 300 million worth fish auction market project will be established in Myeik, Tanintharyi Region
A fish auction market project with an investment of US$300 million will be implemented as quickly as possible in Myeik, Taninthayi Region, said an official from Myeik Corporation. Located on 700 acres of land by the riverside of Kyaukphya river in Kywelku village, Myeik town, the fish market project also includes an industrial zone, a jetty for fish stock handling and housing. Chairman of Taninthayi Region Administration Council Tin Aung held a meeting with local entrepreneurs on April 27 and discussed the project. During the meeting, the chairman called for prompt implementation of the project.
Myanmar Investment Commission (MIC) approved 14 new investment proposals which will create 4,371 job opportunities
Myanmar Investment Commission on its 1/2021 meeting approved 14 new investment proposals worth $295.279 million, estimated to create 4,371 jobs for local people. The investments including four investment expansions from existing ones are made in the solar power sector, livestock breeding sector, housing development sector, and service sector. The approved investments include four 40-megawatt solar power production and distribution projects in Mandalay Region, Sagaing Region, and Magway Region. The other investments in the livestock sector include fish feed production and distribution projects by Scoular Myanmar Co., Ltd and one other swine breeding project.
The value of Myanmar mineral exports down by USD $ 500 million as of 15 January in the current 2020 – 2021 financial year
The value of Myanmar’s mineral exports has drastically fallen to US$352.6 million as of 15 January in the current financial year 2020-2021 since 1 October, reflecting a tremendous drop of $500.5 million compared to a year-ago period, the Ministry of Commerce’s data indicated. The mineral exports hit 853.13 million in the corresponding period of last FY. The coronavirus impacts led to the slump in mineral exports this FY. The heightened COVID-19 measures also shut down the events like gem emporium and expo, a trader said. So far, excavation of over 1,250 mining blocks has been permitted on a manageable, small, medium, and large scale, according to the Ministry of Natural Resources and Environmental Conservation. Due to the limited extraction of natural resources, exports of forest products and minerals had dropped significantly in the previous years. Permits for mining blocks were suspended in 2016. However, after two years, Myanmar’s mining sector has now been opened to local and foreign investors, according to the ministry.
Union Minister called for extensive use of CNG for green energy and economy in future
Myanmar needs to engage in CNG (compressed natural gas) business in Nay Pyi Taw and other regions in addition to Yangon to seek the way to green energy and green economy in future, said Union Minister for Electricity and Energy Win Khaing. He said the use of CNG in transport sector would contribute towards carbon reduction and clean air. More than 23 million cubic feet of CNG from onshore oil and gas fields are distributed daily for passenger buses operating with CNG, according to the ministry.
Myanmar exports second shipment of seedless watermelon to Dubai on 14 January via sea route
Myanmar exported the second shipment of its seedless watermelon weighing 20 tonnes and muskmelon weighing 200 kilos to Dubai on 14 January via sea route, according to the Myanmar Watermelon and Muskmelon Producers and Exporters Association. “About 25 tonnes of Myanmar’s seedless watermelons were also shipped on 11 December for the first time. It has yielded good results. We were worried about the freshness of the fruits because it took 17 days. But it was relieved now,” said U Naing Win, the association chairperson. Myanmar seedless watermelon has been planned to expand its new foreign markets to Hong Kong, the UAE and Qatar, stated Myanmar Watermelon and Muskmelon Producers and Exporters Association.
Myanmar’s price of fishery exports to Thailand plunged by 50 percent
Myanmar fishery products’ export price to leading buyer Thailand slumped by 50 per cent, said U Win Kyaing, general secretary of Myanmar Fisheries Federation (MFF). Myanmar mainly ships mackerel fish to Thailand through Kawthoung-Ranong border. It fetched 100-120 baht per kilo last year, and the price sharply fell to 50-55 baht per kilo. “Thailand did not stop trading, yet the offering price drastically dropped. During a bear market, the income generated by fishery products also decreased. Surprisingly, the market experienced a 50 per cent drop”, U Win Kyaing elaborated. At present, the country is primarily conducting border trade with Thailand’s neighbouring country through those border posts; Kawthoung-Ranong, Mawtaung in Myeik, Hteekhee in Dawei and Myawady. Thailand has shut down the border with Hteekhee and Mawtaung. The central trading post (Kawthoung-Ranong) is still open for trading. However, to contain the spread of COVID-19, Myanmar traders cannot enter Thailand’s side, and the trading occurred only at the pier.
The import of CMP raw materials plunged to USD $ 476 million over the past three months of current 2020 – 2021 fiscal year
Imports of raw materials by CMP (cut-make-pack) businesses has touched a low of US$476.3 million as of 1 January in the current financial year 2020-2021 since October 2020, which fell from $581.34 million registered in the previous FY2019-2020, according to the Ministry of Commerce. The figures reflected a decrease of $105 million, the Commerce Ministry’s data indicated. In October of FY2020-2021, the country exported $203.95 million worth garments to foreign countries. The figure plunged from $384 million registered in October of the 2019-2020FY. At present, over 100 CMP garment factories temporarily shut down on the reason for the lack of raw materials and slump in demand due to the coronavirus negative impacts, leaving thousands of workers unemployed. Sixty-four factories have been permanently closed down during the pandemic, compensating about 25,000 workers. The data does not include those factories that have not resolved worker payments, the Ministry of Labour, Immigration, and Population stated.
The trade flow of Sino – Myanmar boosted as Manwain border post opened 24 hours for border trade
The flow of trade between China and Myanmar has improved significantly after opening Manwain border checkpoint for 24 hours, which is essential to the border trade, according to Muse-Namhkam Merchant Association. Border authorities from both sides have agreed on opening the Muse-Manwain trading post for 24 hours on a 10-day trial basis starting from 5 to 14 January to speed up the trade flow between the two countries delayed during the pandemic period. “Before opening the Manwain crossing for 24 hours, more than 200 trucks with cargo entered China daily. After opening, over 400 trucks are crossing between China and Myanmar at Manwain checkpoint daily. Now, the flow of trade is faster than earlier. The trucks that have been waiting for many days to enter China at Muse 105th Mile are also entering China these days,” Muse-Namhkam Merchant Association Chairperson U Sai Nom said.
The first Myanmar’s community-based tourism (CBT) island opened at Don Nyaung Hmaing village in Kyunsu Township, Tanintharyi Region
The first community based tourism (CBT) situated on an island was opened at Don Nyaung Hmaing village in Kyunsu Township on January 10. It was attended by Taninthayi Region chief minister Myint Maung and officials. At the ceremony, Taninthayi Region chief minister Myint Maung delivered an opening address.