Notice to Mariners released for Myanmar-Singapore international underwater cable connection project

The Fisheries Department issued a notice regarding the launch of the Myanmar-Singapore international undersea cable connection project in the Myanmar Exclusive Economic Zone (EEZ). The project is set to span over five months, during which time ships, vessels, fishing boats, and motor boats are strictly prohibited from passing through or anchoring, fishing, and deploying fishing devices in the designated project areas.
The cable connection project will utilize the CS Nusantara Explorer, owned by Campana Mythic Co Ltd, at the Unit 1 location with Rov cables in the Myanmar EEZ. The project commenced on 13 July and is expected to conclude in December.
Campana Mythic Co Ltd, a multinational data network infrastructure operator headquartered in Singapore, was established in 2014. The company boasts an extensive network and infrastructure in Myanmar, Singapore, and Thailand.
To ensure smooth execution and avoid any delays during the project period in the Myanmar EEZ, the Notice to Mariners has been promptly released.

Source: The Global New Light of Myanmar

ME allows renewal for expiring PJ passports in Thailand from 2 August

The Myanmar Embassy to Thailand announced on 20 July that PJ passports in Thailand which will expire on 31 March 2024, must be renewed from 2 August. The appointment tokens for the newly issued PJ passports will be given at the old office gate (the former location) from 8 am to 12 pm every Saturday starting from 29 July. Those who come to pick up the appointment token must bring their passport books, and the token will be issued only after the face match is verified. Therefore, it has been notified that withdrawals by agents will not be granted at all. All visitors are requested to come only in the morning because there are only a small number of PJ passport holders expiring on 31 March 2024, and line up in an orderly manner to obtain tokens.

Source: The Global New Light of Myanmar

Thai Airways International operates Bangkok-Yangon flights

Thai Airways International launches flights connecting with the Yangon International Airport.
The Bangkok-Yangon flights by Airbus A320 started on 16 July and the flight aims to promote the services in travelling between Thailand and Myanmar.
The Yangon-Bangkok flights will be operated 14 times a week and the Bangkok-Yangon-Bangkok flight will depart at 9:35 am (local time) and arrive in Yangon at 10:35 am.
Additionally, it will depart from Yangon at 11:25 am and arrive in Bangkok at 1:25 pm (local time). It has also been reported that the round-trip flights between Bangkok and Yangon will be extended from 5 pm to 9 pm.
Currently, there are four round-trip airlines from Yangon to Bangkok, Thailand, with about 1,000 passengers. 

Source: The Global New Light of Myanmar

MoC to lease approximately 1,200 apartments in first phase of Thukha Dagon Public Rental Housing Project

The Department of Urban and Housing Development, under the Ministry of Construction, has announced the commencement of renting for approximately 1,200 apartments, constituting the first phase of the Thukha Dagon Public Rental Housing Project in Dagon Myothit (South) Township.
Retired employees, civil servants, and individuals facing living challenges in Yangon Region will have the opportunity to apply for a five-year residence permit at the newly completed 1,200 apartments in the initial phase of the Thukha Dagon Public Rental Housing Project.
Interested applicants can obtain residence permit forms from the respective township administration offices, complete the required details, and submit the forms to the relevant township administration offices by the latest deadline of 31 July.
The housing project spans 171 acres of land near the intersection of No 2 Highway and No 7 Highway, encompassing 194 buildings with 3,104 apartments currently being constructed in the first phase. For this phase, the Myanmar Construction Entrepreneurs Federation (MCEF) and the Myanmar Licensed Contractors Association (MLCA) have allocated 97 buildings each for construction purposes.

Source: The Global New Light of Myanmar

Central Bank of Myanmar issues press release

The Central Bank of Myanmar will issue a new type of “twenty-thousand-kyat” banknote starting from
31 July 2023, and in commemoration of the completion of the Maravijaya Buddha Image, which was built to show the brightness of the Theravada Buddhism firmly shining in Myanmar, for Myanmar to be a focal point of Theravada Buddhism and to bring peace to the country and the world, and in celebration of the one-year birthday of a white elephant, “Rattha Nandaka,” born on 23 July 2022. Such a banknote will be issued in a limited number and will be distributed only by exchange of the same value with various types of old banknotes that should not be appropriate for circulation in Myanmar. Initially, old banknotes will be exchanged for “equal value” at the Central Bank of Myanmar in Nay Pyi Taw, the Yangon branch, and the Mandalay branch. Current valid currency notes and changes will continue to stand as official currency.

Source: The Global New Light of Myanmar

China (Kunming) Import & Export Fair invites Myanmar businesspersons

China (Kunming) Import & Export Fair welcomes Myanmar businesspersons, according to the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry.
This 7th China (Kunming) Import & Export Fair, organized by the Ministry of Commerce and the government of Yunnan Province of the People’s Republic of China, will be held between 16 and 20 August at Kunming Dianchi International Convention and Exhibition Centre. Myanmar businesspersons were invited in June.
Mr Xie Ming Gui, chair of the Yunnan Chamber of Commerce in Myanmar and officials of the UMFCCI led by vice president Dr Win Si Thu discussed matters on 17 July for Myanmar’s entrepreneurs from the respective sectors to participate in the fair.
Additionally, famous businesspersons will join the fair. Therefore, Mr Xie Ming Gui invited Myanmar’s businesspersons to showcase Myanmar’s products. Business forums and talk shows will be included in the fair as well.
The fair will be held both online and offline, covering an area of 150,000 square metres with 15 halls. The three-square-metre booth will be charged 6,500 Yuan. 

Source: The Global New Light of Myanmar

Myanmar ships US$2.74 mln worth of goods to Bangladesh as of 7 July

Myanmar exported goods worth US$2.749 million to Bangladesh through Sittway and Maungtaw borders between 1 April and 7 July of the current financial year 2023-2024, the Ministry of Commerce’s statistics indicated.
Myanmar shipped goods worth $0.95 million to Bangladesh through the Sittway border post and goods valued at $1.84 million via Maungtaw border post as of 7 July this FY.
The value of border trade with Bangladesh over the past three months was $3.678 million, which plunged from $36.113 million in the corresponding period last FY.
Next, Myanmar’s exports to Bangladesh via Sittway and Maungtaw amounted to over $1 million in the second week of July.
Tamarind, plum and fresh ginger were mainly exported via the Sittway border, while the main export items through Maungtaw were agricultural products, fisheries and manufacturing goods. The PVC pipe and PVC tanks were imported via Maungtaw.
Yangon-Sittway Road has a capacity of only 12-wheel and 6-wheel trucks. Despite the distance of 70 nautical miles between the two countries, climate conditions in the rainy season sometimes hinder water transport.
Myanmar conducts cross-border trade with Bangladesh via Sittway-Buthidaung-Maungtaw and Sittway-Angumaw-Maungtaw trade channels, mostly from Kanyinchaung Economic Zone in Maungtaw.

Source: The Global New Light of Myanmar

Myanmar’s producers/exporters benefit from preferential tariffs through RCEP CO Form

THE Ministry of Commerce’s Trade Department has announced that producers and exporters in Myanmar
can now take an advantage of preferential tariffs through the Certificate of Origin (CO) Form RCEP. This form is available for products originating in Myanmar and intended for export to Cambodia, Thailand, Brunei, Laos, Singapore, Malaysia, and Indonesia. Authorized traders will be able to enjoy the benefits of preferential tariffs. To obtain the CO Form RCEP, interested parties can apply at the relevant export and import offices and border checkpoints under the Trade Department, as per the established rules and regulations. The Regional Comprehensive Economic Partnership (RCEP), a free trade agreement between the ten member states of ASEAN, Australia, China, Japan, the Republic of Korea, and New Zealand, came into effect in January 2022.

In addition, for manufacturing-related products, traders can obtain approved exporter status through the Online CO Application System (https://onlineco.myanmartradenet.com). Membership in RCEP comes with several trade benefits. The agreement provides tariff incentives based on the development status of each state. Specifically, Cambodia, Laos, and Myanmar have been granted access to preferential tariffs, while Viet Nam receives moderate tariff benefits. Furthermore, the least-developed countries will enjoy additional exemptions as outlined in the United Nations charter supporting the Least-Developed Countries (LDCs).
For example, the agreement grants preferential tariffs to Cambodia, Laos, and Myanmar over other states.
According to the agreement, RCEP members have to grant a 65 per cent customs tariff exemption. However, Myanmar, Cambodia, and Laos are only entitled to give a 30-per-cent tax-exempt to other entities a 30 per cent tax to other entities. Furthermore, ten years after the agreement’s implementation, members are obligated to grant an 80 per cent tax exemption. Myanmar, however, has been given a transition period of up to 15 years for its trade sector. Moreover, the agreement takes into consideration the needs of LDCs and aims to implement commitments while providing customs duty relief. This approach seeks to stimulate trade and investment opportunities, as well as promote participation in regional and global trade and value chains.
Being a member of both RCEP and ASEAN, Myanmar will have access to significant opportunities for
enhancing its international standing. This includes the ability to amend laws, policy frameworks, and regulations to support trade and investment promotion, as well as strengthen the capacities of governmental and private institutions. Additionally, Myanmar’s exports will benefit from expanded access to foreign markets, particularly those in developed and technologically advanced countries such as Japan, the Republic of Korea, Australia, New Zealand, and Singapore. This agreement is expected to attract responsible and accountable large-scale investments into the country.

Source: The Global New Light of Myanmar

40 electric vehicles arrive at Yangon Port

WITH the approval of the Steering Committee on National-level Development of Electric Vehicles and Related Industries, a total of 40 electric vehicles ( including 20 Neta U models and 20 Seres 3 models) imported by Grand Sirius Co Ltd and Asia Pacific Automaker Corporation Co Ltd arrived at Yangon Port. They were allowed to be claimed following Customs procedures on 17 July. The import of battery electric vehicles (BEVs) is exempted from Customs duties.

Source: The Global New Light of Myanmar

Online businesses identified as important services

ACCORDING to the online vendors, there is particular concern among online businesses over the
upcoming taxation and directive orders after the designation of the businesses as essential services. In accord with Section 4 and Subsection (c) of the Essential Goods and Services Act, online sales activities have been declared as essential services starting from 4 July. The Ministry of Commerce has been empowered to issue prohibition orders, regulatory orders, supervision orders, protection orders, and necessary actions related to this service. “Since the Ministry of Commerce has been given the authority to issue orders, tax issues may continue to arise. Some sell online, but I see that commercial sellers and self-owned sellers may suffer more.
There is no problem with charging those who sell diamonds and gold jewellery items, but if the tax rate is the same for online sellers who sell just one a day, a minority may suffer,” said U Myint Swe, a resident of Mingala Taungnyunt Township. Most online sellers are worried about the regulatory issues related to business licences and taxes. “Domestic online sales have been strong again during the period of Covid-19, so I think that the officials have responsibility for handling the tax issues and controlling over the products. Taxes are paid wherever transactions are conducted. This kind of online sales is a form of tax avoidance. This may be done because of the loss of taxes for the country,” said U Aung Gyi, a retired employee. Some of the traders have been selling local and foreign products including food, clothing and cosmetics online, but now some are selling housing and building materials, mobile phones, cars, lands, apartments and gemstones online. According to the Essential Supplies And Services Law enacted in 2012, if goods are identified as important goods, the ministry authorized by the Union government may regulate or prohibit import, sale, possession, storage, transportation, distribution, etc.

This is done in order to restrict and prevent goods and services that may harm the interests of citizens, and to prevent the domestic transportation of goods and animals that may cause dangers, epidemics and
unacceptable problems. Violation of the law is punishable by a minimum of six months to a maximum of three years in prison and a fine of not more than K500,000, according to the law.

Source: The Global New Light of Myanmar