ข่าวเศรษฐกิจและธุรกิจประจำสัปดาห์

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  Myanmar’s external trade reached USD $ 149.67 billion in the past four years under incumbent government

  Myanmar’s external trade over the past four years under the incumbent government period touched a high of US$149.67 billion, comprising exports worth $68.53 billion and imports valued $811 billion, according to the statistics released by the Ministry of Commerce. Between Financial Year 2016-2017 and FY2019-2020 (as of 21 August), the maritime trade outperformed the border trade. Myanmar’s regular trade was estimated at $109 billion, while its border trade with the neighbouring countries — China, Thailand, Bangladesh, India and Laos stood at $40.6 billion. Myanmar’s foreign trade has shown a 10-per cent increase, year over year, under the incumbent government. The values of foreign trade were registered at $29 billion in the FY2016-2017, $33.57 billion in the FY2017-2018, $18.7 billion in the 2018 mini-budget period, $35 billion in the FY2018-2019 and $33 bln in the FY2019-2020 (as of 21 August), the ministry’s data showed.
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  Government extended the deadline for taxes on disclosed income for 2019 – 2020 fiscal year until the end of December

  The Ministry of Planning and Finance issued an order on September 22 extending the deadline for tax payment on the unassessed income for the 2019-2020 fiscal year until December 30. The previous deadline was September 30, which is the end of the 2019-2020 fiscal year. However, the Myanmar Economic Bank, which receives tax payment, was crowded with the taxpayers increasing the risk of being infected by the COVID-19. The country, experiencing the second wave of the COVID-19, has put the stay-at-home order to curb the rapidly rising number of reported cases.
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  Myanmar’s Natural gas exports reached USD $ 2.97 billion in the past ten months of the current 2019 – 2020 financial year

  Myanmar’s exports of natural gas over the past ten months of the current financial year 2019-2020 amounted to US$2.97 billion, the Commerce Ministry’s data showed. The figures reflect a decrease of $264 million compared with the corresponding period of the 2018-2019FY when the gas export value was registered at $3.235 billion, the statistics released by the Central Statistical Organization under the Ministry of Planning, Finance and Industry indicated. The drop in the value of exports is linked to the collapse of the global oil and natural gas prices, according to an expert. Natural gas is included in the list of major export items of Myanmar. About 10 per cent of the country’s total export earnings come from the sale of natural gas. There are 53 onshore blocks and 51 offshore blocks, totalling 104 blocks. A total of 25 onshore blocks and 31 offshore blocks are operating under foreign investment. Natural gas extraction is being made at the Yadanar, the Ye Dagun, the Shwe, and the Zaw Tika offshore blocks as well as onshore drilling blocks. Yearly extraction is elevated to cubic feet in 670.36 billion from 600 billion this year, according to the fourth-year performance statement of the Ministry of Electricity and Energy.
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  Myanmar Livestock Federation (MLF) requested the permits from Myanmar authorities for feedstuff factories to keep running, ensuring smooth flow of trade

  Myanmar Livestock Federation (MLF) has requested the National-Level Central Committee on Prevention, Control and Treatment of Coronavirus Disease 2019 (COVID-19), the Livestock Breeding and Veterinary Department under the Ministry of Agriculture, Livestock and Irrigation, and the Union of Myanmar Federation of Chambers of Commerce and Industry (on 21 September for the feedstuff processing factories to keep running and to ensure smooth flow of trade. The Ministry of Health and Sports has issued a ‘stay at home’ order for all the townships in Yangon Region although the employees of food, meat and fish cold storage plants are allowed to go to their work. However, those employees of animal feed processing factories are mandatory to stay at home.
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  Myanmar will increase collaboration with South Korea to help overcome the economic setbacks

  Dr. Than Myint, Union Minister of the Ministry of Commerce, at the first meeting of the Joint Commission for Trade and Industrial Cooperation said that Myanmar will increase economic collaboration with South Korea and he believes it will help overcome the economic setbacks. “We are grateful to South Korea’s support for the social and economic development of Myanmar. Through these meetings, I strongly believe that cooperation between Myanmar and Korea in the sectors like trade, investment, industry, and power will grow rapidly, and through cooperations, we will be able to overcome the economic downturn globally occurred due to the COVID-19,” he added.
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  Individual Trading Cards (ICT) border trade reached K 40 billion in 11 months of the current financial year

  Myanmar’s total border trade using Individual Trading Cards (ITC) stood at K40 billion in 11 months of present financial year (FY) 2019-2020 which started in October, according to the figures released by the Ministry of Commerce. From October to August this FY, the ministry issued 83 ITCs and export using those cards through border earned over K2.79 billion while its imports exceeded K37.9 billion. Out of border trade camps, Myawady border trade zone is reported to have the biggest volume of trade with a value of K26.6 billion and followed by Mawtaung border trade zone with K6.67 billion, according to the official figures of the Ministry of Commerce.
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  Myanmar government is negotiating with Saudi Arabia for export potential, including fishery products to Saudi Arabia’s market

  The Ministry of Commerce has called for export potential with Myanmar products to Saudi Arabia’s market, the ministry stated. The ministry recently negotiated with Saudi Arabian ambassador to Myanmar concerning the items identified as export potential, including honey, fish, prawn, fishery products. At present, Saudi Arabia has received Myanmar’s answers to the queries they sent regarding the new regulations. Suppose the cold storages and processing companies are found to be in accordance with the fishery import standards of Saudi Arabia. In that case, Myanmar can resume exports of the fishery products to Saudi Arabia. Following the detection of two prawn diseases in imported marine products, Saudi Arabia has suspended fish imports from Myanmar, beginning April 2018. It is already reported to World Organisation for Animal Health that the disease was not found in freshwater prawns in 2018. However, Saudi kept imposing a ban on fish and prawn imports from Myanmar. The suspension has severely affected rohu fish suppliers as Myanmar keeps typically only 25 per cent of rohu fish for local consumption and exports the remaining 75 per cent to Saudi Arabia, the UAE, as well as Bangladesh.
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  Myanmar – Thailand bilateral trade reached USD $ 18.86 billion in the past four financial years

  The value of Myanmar’s bilateral trade with neighbouring country Thailand in regular trading and border trade was estimated at US$18.865 billion in the past four financial years, the statistics issued by the Central Statistical Organization under the Ministry of Planning, Finance and Industry indicated. The ministry reported that exports surpassed imports in trade with Thailand in the past four years, with exports reaching over $10.73 billion and imports valued at over $8.13 billion. Between 2016-2017FY and 2019-2020 (as of August), Thailand has been Myanmar’s largest trade partner among the ASEAN states, followed by Singapore and Malaysia. Thailand accounted for 18.48 pc of total trade in 2016-2017FY with an estimated trade value of US$4.6 billion, 19.17 pc in 2017-2018FY with a trade value of $5.57 billion, 40.38pc in 2018-2019FY with $5.46 billion and 39.55pc in 2019-2020FY (Oct-April) with $3.15 billion respectively. Exports of natural gas from Taninthayi Region has contributed to the enormous increase in border trade with Thailand in the previous year. This year, corn exports to Thailand rose significantly compared with the earlier years, the Ministry of Commerce stated.
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  Carlsberg Myanmar has started export beer to China for the first time with the aims a move made in response to increasing demand for Tuborg in the Chinese market

  Carlsberg Myanmar announced on September 18 that it has exported 36 million units of 330 ml cans (12,000 hectoliters) of leading beer brand, Tuborg – to Carlsberg China. The news marks the company’s first export of the brand to China, a move made in response to increasing demand for Tuborg in the Chinese market. “We are very excited that Carlsberg is not only able to brew and sell quality beers in Myanmar, but now also to international consumers”, said Mr Vaibhav Khedkar, Supply Chain Director at Carlsberg Myanmar. “This export has proven our team’s capabilities when working to a very tight schedule with the order successfully delivered by truck to China within just 10 weeks. This tight turnaround happened despite the export having to go through procedures, from adjusting the formula to match the taste of Chinese consumers and ordering cans to making sure export licenses and Myanmar FDA approval were in place. We are extremely proud for the achievement of our team on behalf of all Myanmar”, added Khedkar.
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  State and Region investment committees endorsed the domestic projects worth K 184.9 million and 32.195 million over the past eleven months of current financial year

  Domestic investments by Myanmar citizens approved by the region and state investment committees have reached K184.9 billion and US$32.195 million over the past 11 months of the 2019-2020 financial year since October, according to the statistics released by the Directorate of Investment and Company Administration (DICA). Between 1 October and 4 September in the current FY, the relevant region and state investment committees gave the green light to 67 local enterprises to invest in various sectors. As of 4 September, Ayeyawady Region Investment Committee cleared 13 businesses, allowing an estimated capital of US$3.428 million and K41.26 billion, while Yangon Region Investment Committee gave the go-ahead to 12 enterprises with $5.886 million and K26 billion, Taninthayi to 10 projects with $10.5 million and K40.48 billion, Sagaing to eight enterprises with $2.344 million and K12 billion, Mon to five businesses with $4.328 million and K13.6 billion, Kayah to four enterprises with K8.2 billion, Mandalay to three enterprises with $2.957 million and K12.14 billion, Nay Pyi Taw Council to two businesses with $1.634 million and K6.147 billion, Chin to two enterprises with $0.17 million and K2.535 billion, Bago to two enterprises with K5.265 billion, Shan to two projects with K5.67 billion, Kayin to one enterprise with $0.7 million and K5.6 billion, Magway Region to one with $0.042 million and K2.5 billion, Rakhine to one with $0.192 million and K2.499 billion, Kachin to one with K965 million respectively.