Weekly Business News from Myanmar

Myanmar authorities gave more tourists’ visa on arrival access with USD $ 50 per each at Yangon, Mandalay and Nay Pyi Taw international airport in move to open up more travelers from around the world
Tourists from Australia, Germany, Italy, Spain, Switzerland and Russia have been given visa-on-arrival access for US$50 each at Yangon, Mandalay and Nay Pyi Taw international airports. Starting from October 1, passport holders from the six countries will no longer require pre-arranged approval, the authorities said. “We hope the new regulations to ease access to Myanmar will lead to more travelers from around the world,” said Daw May Myat Mon Win, chair of the Myanmar Tourism Marketing Association. Last year, tourists from Japan, South Korea, Hong Kong and Macau were granted visa-free entry into Myanmar, while Indian and Chinese nationals were also given visas-on-arrival in a move to draw more visitors from Asia. As a result, Asian tourists to Myanmar have risen this year. In the eight months from January to August for example, Japanese tourist arrivals increased by 24 percent compared to the same period last year, said Daw May Myat Mon Win.
The plans are underway to establish the separate plot projects for special zones related to textile and garment zones in Yangon and Mandalay regions
Separate land areas are being planned to establish special zones related to textile and garment in Yangon and Mandalay regions, according to the ministry of industry. The ministry is cooperating with the private sector to implement pilot projects for industry complexes and clusters, a high-ranking official from the ministry. Union Minister for Industry Khin Maung Cho said plans were underway to adopt a national level textile policy with the help of Germany's GIZ with the aim of developing Myanmar's textile industry, boosting investment by inviting foreign trade partners, getting necessary infrastructure, boosting export market and reducing import.
Myanmar Oil and Gas Producers and Operators expressed serious concerns over the Myanmar’s draft oil and gas bill could be undermine the next crucial bidding round
Uncertainty and confusion over Myanmar’s proposed oil and gas law risk alienating existing investors and could undermine the next crucial bidding round, according to companies and experts in the sector. Time is running out for the Ministry of Electricity and Energy to launch the round by the end of the year, having initially planned to start the process in the first half of 2019. The government published the revised text of the draft oil and gas law for public consultation in August with the aim of reforming the legal framework and replacing the 1957 petroleum resources act. But the association representing oil and gas investors has highlighted its objections to parliament in a letter, of which The Myanmar Times has seen extracts. Gas produced offshore in Myanmar is delivered to the domestic market and exported to Thailand and China, forming a major source of government revenues. In 2017-18, natural gas exports accounted for US$3.1 billion, or around 50 percent of total export revenues.
Myanmar – Thailand border trade between 1 October and 30 September in the 2018 – 2019 fiscal years exceeded USD $4.1 billion which increased USD $ 2.4 billion when compared to the same period of last fiscal year
Myanmar-Thailand bilateral trade between 1 October and 30 September in the 2018-2019 financial year exceeded US$4.1 billion, an increase of $2.4 billion from the 2017-2018FY, according to the Ministry of Commerce. In the 2018-2019 fiscal, exports were registered at $2.96 billion and imports were valued at $1.14 billion. In the previous FY, bilateral trade totaled $1.71 billion, with exports pegged at $460 million and imports recorded at $1.25 billion. Myanmar delivers goods to Thailand through the sea route as well as seven border gates. The border trade camps opened between the two nations are Tachilek, Myawady, Kawthoung, Myeik, Htikhee, Mawtaung, and Maesai.
Myanmar and China authorities signed a MOU for technology exchange, market analysis and fruit trade at Nanning City in China
The Myanmar Fruit, Flowers and Vegetable Producers Association and China’s Fruits and Vegetables Association signed a Memorandum of Understanding (MoU) for technology exchange, market analysis, and fruit trade at Nanning City in China on September 22, according to U Kyaw Thu, General Secretary of the association. The separate contracts will be signed between the two countries for different kinds of fruits. “Myanmar will export mangos, avocado, pineapple, Konjac, watermelon, and muskmelon. In return, China will export apple and oranges to Myanmar, he said. The MoU also covers logistics on trade routes by sea air, and overland routes. U Kyaw Thu said the MoU will enable Myanmar fruits to capture higher prices.
The exclusive interview with U Aung Htoo, Deputy Minister of Commerce of the reform programme undertaken by the government and the improvements of starting up business in Myanmar
Deputy commerce minister U Aung Htoo spoke to The Myanmar Times in Nay Pyi Taw about the National League for Democracy-led administration’s latest efforts to improve the country’s business environment. U Aung Htoo is the senior official in charge of improving Myanmar’s ease of doing business ranking. In an extensive interview, he explained the reform programme undertaken by the government, such as improvements in starting up a business, access to electricity and credit, obtaining construction permits, and dealing with insolvency. Myanmar was ranked 171st among 190 countries by the World Bank’s Ease of Doing Business Ranking 2019. The country aims to be among the top 100 countries by 2020-21 and among the top 40 by 2035-36. “The vice president [U Myint Swe] made a commitment that during this five year term, the ranking of Myanmar will be improved from 177 [in 2014] to under 100. This is a big job,” he told this paper.
The chili price in the markets in Mandalay doubled from the level recorded during the same period of last year
The price of chili in the markets in Mandalay has risen sharply prompting many farmers to plant the crop, according to the Global New Light of Myanmar. The price of chilies from Pyawbwe, Yamethin, Tatgone, and Kyaukse townships has doubled from the level recorded during the same period of last year, according to sellers in the Mandalay market.
Marketnext Event was hold in Yangon with the main to help farmers for taking opportunities and to be beneficial from the rapid transformation of the rural economy in Myanmar
Along with the achievement of Value Chains for Rural Development project, the #MarketNext event together with high-level officials from the U.S Embassy, officials from the trade associations, farmers and other Myanmar partners was successfully held in Yangon on Tuesday. The U.S Government supported for the growth in Myanmar coffee, Ginger, Soy, Sesame and Melon sectors under the five-year project from 2014-2019 aiming to help farmers for taking opportunities and to be beneficial from the rapid transformation of the rural economy. U.S. Ambassador to Myanmar, H.E. Scot Marciel said “We goanna keep working the support of agriculture sector here, because is so important for about 70% of the population here. And the really important thing for us is the reason we do this project is because we wanna help people to improve their lives. And this project has helped Myanmar people, who are already really hard working, get that are organize, get that are assess to financing and technologies and the results to be able to produce more consistently, high quality products and earn more money for the families.”
Vice President called for public – private cooperation to promote sugar and marine products industries in line with the existing laws and regulations
Vice President U Henry Van Thio suggested the state-departments and the private sector to work together in promoting sugar and marine products industries in line with the existing laws and regulations. The development for these sectors was discussed at the Ministry of Agriculture, Livestock and Irrigation in Nay Pyi Taw yesterday. Vice President U Henry Van Thio who is leading the Steering Committee for Farmers Rights, Protection and Promoting of Interests, made an opening remark at the coordination meeting which was also attended by Union Ministers Dr Aung Thu, U Win Khaing and Dr Than Myint; Deputy Ministers U Hla Kyaw and U Aung Htoo; the permanent secretaries, the directors-general and the representatives from Myanmar Sugar and Sugarcane Products Entrepreneurs Association and Myanmar Fisheries Federation.
Myanmar Agro Exchange Public Lt (MAEX) is striving to be listed at the Yangon Stock Exchange (YSX)
Myanmar Agro Exchange Public Lt. (MAEX), which builds and operates Da Nyin Gone Fruit, Vegetable and Fruit Wholesale market, said it has prepared all the requirements to be listed at the Yangon Stock Exchange (YSX). “With the help from lawyers, we have prepared 18 points, that we needed to complete. We are closely watching the YSX’s progress to list our company. Then, we will file at the YSX to become a listed company,” U Aung Kyi, CEO of MAEX, said. According to YSX regulations, a company must have at least two years of profit history before it can be listed on the stock exchange. MAEX has provided financial records for the last three years. The company earned K74 million net profit in 2016 Fiscal Year, K330 million in 2017 Fiscal Year, and K440 million in 2018 Fiscal Year.