MoC introduces innovative rice export licensing system

Ministry of Commerce’s efforts are to stabilize domestic rice prices and avert escalation

The Ministry of Commerce stated that they have started to use the export licence system, which will be applied only after the rice and rice products to be exported are pre-screened and 100 per cent ready, even though the rice export licence will not be suspended.
The Ministry is working to stabilize domestic rice prices and prevent further price increases. The Ministry also responded to the Myanmar Rice Federation’s submission for a three-month suspension of rice and rice products exports, saying that no suspension will occur. Despite that, they started exercising the export licensing system on 1 September, which will be granted only when 100 per cent of the rice and rice products to be exported are pre-verified and ready.
In addition, the implementation of the system of warehouse registration has already started to stabilize the price of domestic rice, ensure that the price does not rise again, and control the actions of the hoarders to manipulate the market.
As of 21 August 2023, there were 3.449 million tonnes of rice left in the country, and if the 2.371 million tonnes needed for domestic consumption in the three months until November were subtracted, there would be 1.077 million tonnes of rice left. As there is a condition to export rice regularly, there is no need to suspend the export of rice.
A total of 0.928 million tonnes of rice have been exported from October 2022 to 18 August 2023.

Source: The Global New Light of Myanmar

Announcement of Central Committee on Prevention, Controland Treatment of Coronavirus Disease 2019 (COVID-19)

IT is necessary to control Coronavirus Disease 2019 (COVID-19) infection continuously.
So, it is now announced that public requests, orders, notifications and directives except
for easing restrictions released by Union-level Organizations and Union Ministries up
to 31 August 2023 have been extended to 30 September 2023 for prevention, control and
treatment on Coronavirus Disease (COVID-19).

Source: The Global New Light of Myanmar

53 container vessels slated to arrive in Sept

A total of 53 container ships are scheduled to call in September at Yangon Port, according to the Myanma Port Authority.
In September, seven container vessels each run by Samudera Shipping Line and Sealand Maersk Asia, five by COSCO Shipping Line, four each by IAL Line, MSC Line, RCL Line and SITC Line, three each by Evergreen Line and PIL Line, two each by BAY Line and BLPL Shipping Line, one each by CMA CGM Line, Land & Sea Line and Ti2 Container Line are slated to dock at Yangon Port.
This year, 52 container ships each in January and February, 55 in March, 50 in April, 56 in May, 57 in June, 53 in July and 54 in August arrived at Yangon Port.
Yangon Port handled a total of 620 container vessels this year. Following the draft extension, the international ocean liners can access the inner port for now, according to the Myanma Port Authority’s statement on 22 June 2022.
After the new navigation channel (Kings Bank Channel) accessing the inner Yangon River was found, the draft extension work was accelerated. After that, the port can now handle larger ships. The container vessel (185.99-metre LOA, 35.25-metre BOA, 29,232 GRT and 2,698 TEU) Hongkong-based SITC Shipping Line docked at Asia World Port Terminal for the first time on 22 June.
That vessel is the largest ship that AWPT Port handled.
From May 2021, the arrival of the ships at terminals in Yangon has increased again. To fulfil the seaborne trade requirements, three new container vessels by Maersk Line Myanmar (SeaLand Maersk) started to run in 2021.
Earlier, the larger ships had draft problems preventing their sailing on the Yangon River. The draft was extended up to 10 metres, so the larger ocean liners could enter Thilawa Port.
The coast of Myanmar is 2,228 kilometres (1,260 nautical miles) including the Rakhine coastline (713 kilometres), delta region (437 kilometres) and Taninthayi coastline (1,078 kilometres), stretching from northern Bangladesh’s border to southern Thailand’s border area. There are 10 seaports along the coastline, including Yangon Port, Thilawa Deep Seaport, Kyaukphyu Deep Seaport, Sittway Port, Thandwe Port, Pathein Port, Mawlamyine Port, Dawei Deep Seaport, Myeik Port and Kawthoung Port.
Seaborne trade accounts for 75 per cent of foreign trade. However, Yangon Port including Thilawa terminals is the only international port and the remaining ports in eight cities are designated for the domestic way only. 

Source: The Global New Light of Myanmar

YRIC nods 45 domestic, foreign enterprises in eight months

The Yangon Region Investment Committee (YRIC) endorsed 45 domestic and foreign enterprises in the past eight months (January-August) and the manufacturing sector topped the investment lineups, U Myo Khaing Oo, director of Yangon Region DICA said.
Those enterprises include manufacturing businesses, garment businesses, hotel businesses and service businesses. The majority of them are CMP businesses.
“YRIC gives the go-ahead to 45 wholly domestic and foreign businesses. The CMP garment businesses played a key player among those endorsed businesses in February-August, creating 18,603 jobs for residents,” U Myo Khaing Oo shared information.
China is the leading investor in Myanmar’s CMP garment factories, followed by Chinese Taipei, Thailand, the Republic of Korea and Japan. The clothes and apparel are sent to Thailand, China, Singapore and European countries.
There are 505 garment factories, 48 footwear manufacturing enterprises, eight wig factories and 177 factories engaged in the production of bags, sportswear, sports shoes and socks on a CMP basis in the Yangon Region, in line with the existing rules and regulations. 

Source: The Global New Light of Myanmar

Central Bank Governor calls for financial support to boost local manufacturing, MSMEs

The Central Bank of Myanmar (CBM) governor said on Monday in the recent meeting that it is necessary to make solid efforts to provide the local manufacturing industries including MSMEs with financial support.
The governor emphasized that the CBM urged the banks to follow the rules and regulations to ensure a solid banking system, saying the relevant departments of CBM keep watching the banks whether they comply with the instructions. The CBM also considers the internal control and risk management regarding the risk-taking level of the banks, the macro-economy of the country, external impacts and credit risk.
There should be economic growth and it should provide the public with true information. It should also carry out the work procedures properly and follow the rules and regulations.
Moreover, the governor urged all to make business strategy depending on the market condition, follow the rules for foreign currency, focus on monitoring anti-money laundering and counter-terrorism financing and comply with the rules and regulations of the CBM.

Source: The Global New Light of Myanmar