Weekly Business News from Myanmar

Government authorities are striving to include QR codes on products produced by local companies such as micro and SMEs in order to prevent infringement
Myanmar is preparing to include QR codes on products produced by local companies that are micro, small, and medium size enterprises in order to prevent infringement, said U Khin Maung Cho, Minister of the Ministry of Industry, at the Vice President of Myanmar’s monthly regular meeting between him and local business leaders. Myanmar now uses bar code for products and is preparing to use QR codes. “Products from Myanmar need to have bar codes or QR codes when being exhibited at international trade fairs. Therefore, we need them to register and have code numbers shown. When we don’t have bar code on products, it was difficult to sell them,” the union minister said.
Tourism groups are proposed government to reduce visa restrictions for western tourists to increase number of tourists from western
Discussions will be made with the relevant departments to reduce visa restrictions on western travelers, said U Yan Win, chair of Myanmar Tourism Federation. The move comes after the government last year approved visa exemptions for tourists from Japan, China and South Korea in a bid draw more Asian travelers to Myanmar. “Granting visa exemptions for western countries will be very supportive for the tourism industry. There should be less travel restrictions for visitors from the west who are more inclined to visit Myanmar,” said U Yan Win. Earlier this month, tourism groups proposed granting visas on arrival for tourists from Germany, France, Italy, Spain and Poland but have not received a reply from the government yet, according to Myanmar Tourism Entrepreneurs Association.
State Counsellor and Thai Prime Minister opened the Myanmar-Thai Friendship Bridge- 2 in Myawady which will become a major link that connects Southeast Asian countries over the Greater Mekong Sub-region economic corridor
State Counsellor Daw Aung San Suu Kyi, the Chairperson of the Central Committee for Development of Border Areas and National Races, who was in Kayin State, Hpa-an town left by helicopter and arrived in Myawady Town yesterday morning and attended the opening ceremony of Myanmar-Thai Friendship Bridge 2. Before the opening ceremony started, State Counsellor Daw Aung San Suu Kyi and Thai Prime Minister Prayut Chan-o-cha met in the briefing hall of the Myanmar-Thai Friendship Bridge Project and cordially discussed bilateral friendship and cooperation matters. The opening ceremony started off with a traditional cultural dance performance by ethnic people from Myanmar and Thailand and a video presentation of the implementation of the bridge project followed with an explanation by Thai Minister for Transport Mr. Arkhom Termpittayapaisith on how the project came about. Next, Daw Aung San Suu Kyi spoke briefly expressing her appreciation for being able to attend the ceremony with Thai Prime Minister Prayut Chan-o-cha. The presence of high ranking officials from both countries at the completion ceremony of the bridge was an indication of the great emphasis placed by both sides on bilateral relations and cooperation. The Friendship Bridge was successfully constructed due to the close cooperation and efforts of officials and peoples of the two countries. The successful outcome indicated the unity and singleness the peoples of the two countries as well as cooperation for mutual benefit.
Myanmar is targeting total trade volumes of USD $ 31 billion for current fiscal year by adding value to local produce for better export earnings
Under the updated National Export Strategy 2020-2025, Myanmar is targeting total trade volumes of US$31 billion for the current fiscal year, with US$15.3 billion for exports and US$15.8 billion for imports. If successful, this would reduce the trade deficit to US$500 million. To boost trade volumes and expand exports, Myanmar this month launched the Trade and Investment Project (TIP), which will help to improve the trade environment by expanding public and private investment support services to micro, small and medium enterprises. The TIP, which would run from 2019-21, is funded by a US$5.28 million grant from the UK’s Department for International Development (DFID) and enjoys technical support from the International Trade Centre (ITC). ITC Executive Director Arancha Gonzalez discussed the prospects and challenges for Myanmar’s export sector in an exclusive interview after the launch of TIP on March 4:
Myanmar’s avocado growers are suffering for poor prices on their crops due to the poor harvesting techniques and unsystematic picking of avocados
Avacado growers in Myanmar are suffering from poor prices for their crops due to poor harvesting techniques, says an industry representative. “Due to the unsystematic picking of avocados, the farmers don’t receive good prices when their crops are sold,” said U Myo Nyunt, deputy chair of Avocado Producers and Exporters Association. “Harvesting the avocados by hitting the branches of the trees, irregular fruit sizes due to different planting seasons different seeds used, and poor packing is leading to low prices,” U Myo Nyunt said. "The fruit sizes are not the same as they are grown naturally and some seeds are planted after they are eaten. The avocados that are sold are from different species and differ in quality, so the farmers cannot earn good prices. They are sold for industrial use instead," he said.
Due to the lack of technology and a strong market, coffee growers and producers are still facing the challenges despite Myanmar has more than 35,000 acres of coffee plantations which can produce 12,000 tons of coffee per yield
Myanmar has more than 35,000 acres of coffee plantations, most of which are grown in Shan State and Mandalay Region, according to coffee entrepreneurs. Those plantations can produce 12,000 tons of coffee per yield. Of them, 85 percent is Arabica, 14 percent Robusta and one percent other kinds of coffee. Although Myanmar has specialty coffee species, coffee growers and producers still face challenges due to the lack of technology and a strong market. A ceremony of public coffee cupping took place on March 14 in which tasters from Singapore, Hong Kong and Myanmar testing the quality of five samples of coffee seeds produced from Ywangan in Shan State.
Singapore listed energy and utilities firm, Sembcorp industries was opened USD $ 310 million worth the new Sembcrop Myingyan Independent Power Plant (IPP) in Myingyan to generate power for 5.3 million people needs
Singapore-listed energy and utilities firm Sembcorp Industries marked the official opening of the US$310 million Sembcorp Myingyan Independent Power Plant (IPP) in Myingyan, Mandalay on March 16. With a contracted capacity of 225 megawatts, the plant is one of the largest combined-cycle gas turbine plants in Myanmar. It is also the country’s most efficient power plant, featuring advanced technology to maximise power output and minimise greenhouse gas emissions. Sembcorp Myingyan Power Company began operations in October 2018 with the Ministry of Electricity and Energy (MOEE) providing 37 million standard cubic feet of natural gas per day to the plant from the Shwe Natural Gas Project. That will enable the plant to generate around 1,500 gigawatt hours of electricity per year, helping to meet the power needs of approximately 5.3 million people, said Neil McGregor, Group President and chief executive of Sembcorp.
Chin State Government signed four Memorandums of Understanding (MOUs) with private companies for the projects worth USD $ 54 million at the Chin State Investment Fair which was held in Yangon
The Chin State government signed four memorandums of understanding (MoUs) with private companies for projects totaling more than $54 million at an investment fair held at the weekend in Yangon, which aimed to stir up foreign investment interest in one of the poorest states of Myanmar. Among the four companies, the biggest project signed for was with Norway Power Co. Ltd. for a power project worth $50 million which will be the first foreign investment in the Chin State. According the director of the State’s Directorate of Investment and Company Administration (DICA) U Min Zaw Oo, the government also signed MoUs with local companies for an agricultural goods production project worth $1 million with Chin Taung Yadanar Co., an urban housing project worth 3 billion kyats (nearly $2 million) with the Khumi Institute and a hotel project worth 2.4 billion kyats (nearly $1.6 million) with KL Amazing Co. Ltd.
The first stakeholders’ symposium for updating the National Export Strategy (NES) was held at UMFCCI to boost Myanmar’s Export performance in the global economy
The first stakeholders’ symposium for updating the National Export Strategy (NES) was held on 15th March at UMFCCI in Yangon with the attendance of Vice President U MyintSwe. The Symposium marks the start of an inclusive process that will result in the NES 2020-2025 later this year, aimed at boosting Myanmar’s Export performance in the global economy. The NES is originally designed by the Government in 2015. The public and private sector stakeholders collaborated at the symposium to discuss the current state of Myanmar’s export performance and key topics that the NES 2020-2025 will address. Chairman, UMFCCI, Zaw Min Win said “This symposium is a great platform for public and private stakeholders to discuss opportunities for Myanmar export development within the fast-paced transformation of the global economy. It’s also an occasion to look into current challenges relating to the performance of Myanmar’s export, including a strong export and policy framework to support growth.”
Myanmar Investment Commission (MIC) approved seven investment proposals with over 1,100 job opportunities
The Myanmar Investment Commission (MIC) meeting (4 / 2019) was convened at the meeting room of MIC in Yangon on 15th March 2019. U Thaung Tun, Chairman of MIC and 11 members attended the meeting. The meeting approved seven projects in production and sales of flower seeds from Japan, manufacturing and marketing of plastic mould and plastic accessories (spare parts) from Hong Kong, production and marketing of plastic product from Myanmar, Hotel Service from the People’s Republic of China, floating storage unit for storage of LPG as transit point from Singapore, education service from Myanmar and education services for hospitality and business management from Myanmar.