On Tuesday, the State Counselor and Thai Prime Minister Prayut Chan-o-cha opened a new bridge linking Mae Sot district in Thailand’s Tak province with Myanmar’s border city of Myawaddy. A second Mae Sot Boundary Post was also opened alongside the bridge.

Daw Aung San Suu Kyi said the bridge would promote cross-border trade, investment, tourism and cultural exchange.

Bilateral trade between Myanmar and Thailand stood at US$5 billion (7.7 trillion kyats) in fiscal 2017-2018, $4.3 billion in 2016-17, $4.8 billion in 2015-16, $5.7 billion in 2014-15, $5.6 billion in 2013-14, $4.7 billion in 2012-13, and $4.5 billion in 2011-12, according to the Ministry of Commerce. Thailand is Myanmar’s third-biggest source of foreign investment.

The bridge lies on the East-West Economic Corridor, part of the Mekong-Japan cooperation scheme, Tokyo’s grand infrastructure plan for the region. Within this plan, Myanmar sits on two major economic corridors: the East-West Economic Corridor connecting Vietnam’s Dong Ha City with Yangon’s Thilawa Special Economic Zone (SEZ) via Cambodia and Thailand, and the Southern Economic Corridor connecting central Vietnam, Cambodia and Thailand to the Dawei SEZ in southeastern Myanmar.

The plan aims to improve connectivity between Bangkok and Yangon along the East-West Corridor. The corridor will help businesses based in Bangkok extend their supply chains to Yangon (at the Thilawa SEZ). The Myanmar section of the East-West Corridor does not yet function as an international highway due to bottlenecks such as one-way stretches, a lack of paved roads, traffic difficulties in the rainy season and weight limitations.

According to the Japan International Cooperation Agency, Tokyo plans to shorten transport time by constructing three bridges in Karen and Mon states—the Gyaing-Kawkareik Bridge, the Gyaing-Zathabyin Bridge and the Atran Bridge—as part of the East-West Economic Corridor. These are expected to reduce the time needed to transport goods the 870 km from Thilawa to Bangkok to one-and-a-half days.

Source: The Irrawaddy

The Chin State Investment Fair gets underway at the Myanmar Convention Center in Yangon on Saturday to stir up foreign interest in one of the least developed parts of the country.

The Ministry of Investment and Foreign Economic Relations is partnering with U.K. Aid and private businesses to host the two-day event as part of the government’s efforts to counteract a significant decline in foreign direct investment.

Situated in western Myanmar along the border with Bangladesh and India, Chin State has a mountainous terrain that has hindered infrastructure development. Road upgrades and renewable energy projects are in the works, but much more investment is needed, in particular to improve roads and energy supply.

The state plans to use the fair to highlight infrastructure and urban development projects in Hakha, Falam, Tedim, Paletwa and Mindat townships; agriculture, organic farming and traditional weaving projects in Falam, Hakha, Kanpetlet, Mindat and Paletwa townships; tourism projects at Khonumsum National Park, Rih Lake, Kimo Wildlife Sanctuary, Seinmu National Park and the Khuado Festival; and hydro and wind power projects in Manipur, Lay- Myo, Bawinu, and Tedim townships.

Source: The Irrawaddy

A three-day international trade fair and business forum is scheduled to begin on 23 March at the Mandalay City Hall in Mandalay. The event is being jointly organized by the Ministry of Commerce, the Myanmar Investment Commission, and the Mandalay Region Chambers of Commerce and Industry (MRCCI).

The event is aimed at boosting investment by matching local and foreign businesses, showcasing Mandalay Region’s potential for business, and helping small and medium enterprises develop.

At the forum, U Aung Naing Oo, the Secretary of the MIC, economist Dr. Aung Tun Thet, and other businessmen will hold a discussion on the topic —‘Why Mandalay is Strategically Important to Myanmar’.

Source- The Global New light of Myanmar

1. To promote investment in Chin State more effectively, Chin State Investment and Product Fair to be held on 16th and 17th March, 2019 in Myanmar Convention Center, Yangon Region which is jointly organized by Chin State Government (CSG), Myanmar Investment Commission (MIC) and Ministry of Investment and Foreign Economic Relations (MIFER), Directorate of Investment and Company Administration (DICA) with the supports of Chin State Chamber of Commerce and Industry (CSCCI), DaNa Facility and VDB Loi Co., Ltd.
2. At the Fair, senior officials from concerned ministries and representatives from private sector will join as speakers and panelists that will cover investment opportunities in Agriculture and Livestock Sector, Hotel and Tourism Sector, Electric Power Sector and Small and Medium Enterprise Development Sector in Chin State.
3. For more information, please contact the following address;

• Chin State Investment Committee Compound Office, Zay Thit Quarter, Hahka Township, Chin State.Contact: Phone, Fax 070 21323 [email protected]
• Myanmar Investment Commission Directorate of Investment and Company Administration No. 1, Thitsar Road, Yankin, Yangon. Phone: 01-658132 Fax: 01-658143 [email protected]

Source- The Global New Light of Myanmar

The Ministry of Commerce and the International Trade Centre launched the Myanmar Trade and Investment Project (TIP) in Yangon yesterday, with the aim of supporting the joint efforts made by public and private sector partners to strengthen the country’s role in the Asian economic ecosystem.
“It has been found that a proportionate development in the investment sector plays a key role in the development of exports. Myanmar launched the five-year National Export Strategy in 2015 to develop the export sector and the plan is due to expire soon,” said Union Minister for Commerce Dr. Than Myint at the launch ceremony.
Ms. Arancha González, Executive Director of the International Trade Centre (ITC), Tom Coward, Senior Economist and Inclusive Growth Team Leader at the United Kingdom’s Department for International Development (DFID), U Aung Soe, Director-General of the Myanmar Trade Promotion Organization, U Aung Naing Oo, Director-General of the Directorate of Investment and Company Administration (DICA), Secretary of the Union of Federation of Chambers of Commerce and Industry U Aung Kyi Soe delivered remarks at the ceremony.
U Aung Soe. said ‘In recent years new trends have emerged, such as growing importance of Asia in global trade.’
‘The National Export Strategy 2020-2025 needs to further enable Myanmar to leverage these new opportunities through the creation of sustainable agro-processing, manufacturing and services jobs. It is also important for trade to reach all states and regions, as well as promote the building of productive capacities,’ said U Aung Soe.
Speaking at the launch in Yangon, Arancha González, Executive Director of the International Trade Centre (ITC), said: ‘Located strategically in South-East Asia and with a young and entrepreneurial population, Myanmar has great potential to build on its assets and develop new sectors of growth. The Trade and Investment Project will work with private and public sector partners to capitalize on these opportunities and help the country to position itself for greater investment and deeper regional integration.’
U Aung Naing Oo, Director General of DICA, said the Trade and Investment Project will contribute to the implementation of the Myanmar Investment Promotion Plan, adding that ‘One of the objectives of the Myanmar Government is to empower states and regional governments in their efforts to create sustainable economic development and prosperity.’
U Zaw Min Win, President of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI), noted that the private sector is a key driver of Myanmar’s economic growth.
‘For the economy to perform, a thriving private-public dialogue is essential. UMFCCI, sector associations and regional chambers will collaborate with all Trade and Investment Project partners to create new opportunities for Myanmar’s entrepreneurs.’
U Aung Soe, U Aung Naing Oo and Ms. Arancha Gonzalez signed the agreement on launching the Myanmar Trade and Investment Project.
The Trade and Investment Project, funded by the United Kingdom’s Department for International Development, and with technical assistance from the International Trade Centre launched to improve trade competitiveness and business and investment climate in Myanmar.

Source: Global New Light of Myanmar

The total foreign investments by 105 companies in Thilawa Special Economic Zone Project have reached $1.6 billion.

With the expectation of the massive inflows of foreign investments into the Thilawa SEZ, the phase-3 of Zone-B is under way.

Zone-A has meet more than 97 per cent of its target. A total of 700 hectares of land are earmarked for the Zone-B project. Currently, we are implementing the first, second and third phases of Zone-B.

Source: Daily Eleven

Chin State Investment and Product Fair will be held in Yangon in March in order to promote investment in the state, according to a press conference held at the Directorate of Investment and Company Administration on February.

Around 500 people including foreign ambassadors, local and foreign economic organizations and local and foreign banks will be attending the event.

The expo will be held with the aim of enabling potential investors to know investment opportunities in Chin State, creating business links between entrepreneurs in the state and their local and foreign counterparts and promoting the production of local commodities.

The exhibition will be held under three programmes—discussion of investment opportunities, creation of economic links among the businesspeople and local product show.

Source: Eleven Myanmar

Local fuel prices, which had been stable for a month, are on the rise in the market, according to taxi drivers.
On 17 February, fuel prices stood at K700 per liter for Octane 92, K790 for Octane 95, K885 for diesel, and K895 for premium diesel in the Yangon fuel market.
Although fuel prices had been stable since 10 January, the rates have increased slightly beginning 15 February. The price of Octane 92 has increased by K5 per liter this month compared to last month.
“Local fuel prices usually increase during the tour season. Global crude oil price has also increased these days. That’s why, local fuel prices have also risen marginally these days,” said a fuel oil shop owner.
Local fuel prices continuously declined from the end of October to the first week of January 2019. The prices have begun to rise now.
Myanmar imports 90 per cent of its fuel oil, while 10 per cent is produced locally.
The country mainly buys fuel from Singapore, importing 200,000 tons of gasoline and 400,000 tons of diesel every month. There are 2,000 petrol stations and 50 oil importers in Myanmar.

Source: Global New Light of Myanmar

With the increase in global gold prices, the price of domestic gold also rose and reached a new record of over K1,077,000 per tical on 18 February.
“As a consequence of the rising global gold prices, the price of domestic gold has also increased,” said U Myo Myint, the chairman of Yangon Region’s Gold Entrepreneurs Association.
Currently, the domestic gold price has increased slightly, tracking the upward trend in global gold prices. The gold price has increased from about K1,050,000 per tical on 4 January, to K1,060,500 on 30 January, reaching K1,070,900 on 8 February. On 18 February, the price of domestic gold was K1,077,800 per tical, according to traders.
Global gold prices have been on the upswing daily since mid February, standing at $1,324 per ounce on 18 February, $1,321 per ounce on 16 February, $1,314 per ounce on 15 February, and $1,306 per ounce on 14 February.
Although the domestic gold price is on the rise due to the positive trend in the global gold market, the US dollar exchange rate has remained cool and on the lower side at K1,520 a dollar.
The price of domestic gold declined to K1,027,100 per tical on 30 November from K1,044,500 on 2 November. The price increased to K1,043,000 per tical on 29 December from K987,000 on 4 December. In 2019, the price of gold reached a record high of K1,061,000 per tical on 31 January from K1,043,400 on 1 January, according to a gold dealer.
Starting 21 July, 2017, the domestic gold price has remained above K900,000 per tical. Tracking the rise in global gold prices, the domestic price also peaked at K1,047,700 million on 20 September, 2017, after touching a high of K989,000 in August the same year.

Source: Global New Light of Myanmar