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Myanmar Business News in Brief

Border trade with China exceeds $2 Billion

Border trades with China in the first five months during the fiscal year that started on April 1 exceeded $2.15 billion, about 87 percent of total border trades with the remaining four neighbours during the same period that stood at $2.49 billion, official data shows.

Local airlines mull Chiang Mai flights

Two privately-owned local airlines – Shwe Myanmar Airlines and Air KBZ – aim to start services from Yangon to Chiang Mai in North Thailand over the next two months. The two airlines claim travel demand between the two cities would justify the new services, local media reports.

CNG price to double effective October 1

The price of Compressed Natural Gas (CNG), mainly used for taxis in Myanmar, will be increased by 100 percent starting October 1, local media reported, citing Energy Ministry sources. CNG price will be raised to K546.50 (56 cents) per kg from K273.24, but still much less than the CNG prices in some neighbouring countries, the officials said.

Myanmar, Luxembourg firms to conduct onshore oil exploration

Myanmar’s state oil and gas enterprise will jointly conduct inland crude oil exploration in the country with a Luxembourg company on production sharing basis, it announced. Under the deal signed between the Myanmar Oil and Gas Enterprise (MOGE), CAOG Sarl of Luxembourg and local Apex Geo Services Co Ltd in Nay Pyi Taw, the oil exploration will be carried out in Myintha, Ayeyawaddy region.

Bangkok Airways to fly two new Myanmar routes

Thai boutique airline Bangkok Airways will launch Chiang Mai-based ATR 72 services to Yangon and Mandalay in late October. From October 26, Mandalay will initially be served with three-weekly flights and Yangon with four. According to the Centre for Aviation, Bangkok Airways currently offers almost 11,000 weekly seats to and from Myanmar, making it the largest airline in Myanmar’s international market with about 10 percent share of total seat capacity. The airline expects to have about 13,000-weekly seats for Myanmar in November.

StanChart to help Myanmar SMEs

UK-based Standard Chartered recently kicked off a financial education program for small and medium enterprises in Myanmar in a bid to help enhance the financial and business knowledge of local SMEs and help them manage the growth of their companies. The program, Education for Entrepreneurs, was developed by Standard Chartered in collaboration with PricewaterhouseCoopers and the British Council Myanmar. The trainees will then begin delivering the education sessions to local entrepreneurs in October. About 300 small businesses from Mandalay, Mawlyamyine, Taunggyi, and Monywa will receive training in the first phase this year.

Imports up sharply in FY2014-15

Myanmar imported $7.1 billion worth of goods in the first six months (April-September) of the current fiscal year 2014-15, rising sharply by 2.3 billion, or 48 percent, from $4.8 billion in the same period of the previous fiscal year, official data shows. Of the total, $6 billion worth o commodities were imported through sea route while more than $800 million through border trade.

Gov’t plans to create 4.4m jobs for migrant workers

The government plans to create millions of jobs to draw back the 4.4 million migrants now working in Thailand and Malaysia, a deputy minister said. Deputy Minister for Home Affairs Brig-Gen Kyaw Zan Myint told the Parliament that jobs would be created in local areas for migrant workers. He said that 2 million Myanmar people are working in Thailand and 2.4 million are in Malaysia.

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