Octopus from Myeik is currently the best seller as the price has dropped, according to the information asked in the seafood market.
Octopus prices have been good for more than a month, and since the beginning of December, the price has been decreasing, so it has become the best seller.
“The biggest seller in the seafood industry is octopus. There are two main reasons for high sales — one is that the price decreased a lot from the peak of K50,000 per viss in early December after the Myanmar’s seasonal festivals.
Another point is that Octopus is a type of traditional Myanmar seafood. So, octopus is selling the most. The best seller is octopus from Myeik,” said an official from the Shwe Pazun seafood distribution in Myeik. Octopus, which used to have a good price, is now affordable and abundant in the market, so Mookata (Thai BBQ hot pot) buffet and hot pot restaurants are restoring it in their menus.
“Mookata and hotpot shops are restoring octopus in their menus. At present, octopus is the best seller. Other items such as cuttlefish and squid are going as usual, so they are not among the popular products. Yangon tops among the orders. We also have a branch in Yangon, so we distribute Octopus to all places from Yangon, including Shwe Padauk fish market and Kyimyindine fish market,” he explained. — Thit Taw/ZN

Source- The Global New Light of Myanmar

To boost EV adoption, the government has renewed its EV policy, offering road tax exemptions for electric vehicles.

DELHI Chief Minister Atishi Marlena has declared that the national capital has emerged as the Electric Vehicle (EV) capital of India. Highlighting the city’s progress in promoting clean and green mobility, she revealed that Delhi boasts the highest number of registered EVs in the country.
“Delhi has become the EV capital of the country. Currently, 12 per cent of all vehicles registered in Delhi are electric. To encourage the adoption of EVs, we have recently renewed our EV policy, which includes exemptions on road tax for electric vehicles,” said CM Atishi. She further stated that the development of EV charging infrastructure is being expedited across the city to facilitate the growth of EV usage and make it more convenient for residents to transition to sustainable transportation.
“The development of charging infrastructure is also progressing in Delhi to promote EV sales,” she added.
This progress underscores the city’s environmental goals to reduce vehicular pollution and transition towards cleaner energy solutions. — ANI

Source- The Global New Light of Myanmar

Fully applying economics key to State’s economic growth

Senior General Min Aung Hlaing stressed the need to analyze economic crises based on political and economic problems from the point of view of macroeconomics and political economics.
Chairman of the State Administration Council Prime Minister Senior General Min Aung Hlaing said so at the ceremony to mark the 100th anniversary of economics education in Myanmar at Myanmar International Convention Centre II in Nay Pyi Taw yesterday morning.
Speaking on the occasion, the Senior General noted that protectionism is prioritized to overcome challenges of geopolitics, geoeconomic tensions, outbreak of pandemics, impacts of natural disasters, trade and monetary problems, technological competitiveness and difficulties of energy security. He unveiled that the State Administration Council has been striving to overcome disturbances, hindrances and crises in the State economy through various ways and means since its establishment. He emphasized that priority is given to equal opportunities for the development of all sectors and employment opportunities in relevant areas for national races.

The Senior General pointed out that the capacity to fully apply economics plays a key role in the economic growth of the State.
He noted that emphasis must be placed on raising productivity, quality products and grasping market share for products of the country to increase income for the State by creating incentives for those who strive for the economic development of the nation.
He urged businesspersons, those serving in government organizations and non-government organizations, economists, leaders in the economic development of the nation and investors to actively implement objectives and the roadmap of the State. He called on economists to analyze how to tackle the State economy based on basic data of the nation and implement short and long-term plans for different regions.
The Senior General highlighted that only when Myanmar doubles its export volume will it contribute to the development of the nation. Hence, efforts must be made to boost production based on agriculture and livestock tasks. Moreover, it is necessary to improve the industries based on cotton, bamboo and rubber raw materials, he added. He underscored that as some 90 per cent of the State GDP depends on the production of private businesses, agro-based industry must be implemented in addition to the development of MSME businesses to raise export volume and reduce imports.
Under the leadership of veteran economists of Myanmar Sayagyi Dr Hla Myint, Dr Aye Hlaing, Dr Maung Shein and Dr Than Nyun in successive eras, the Senior General recounted that universities of economics have turned out 96,696 graduates and are giving training to 19,042 students within 100 years period.
Meanwhile, he explained that Universities of Distance Education have produced 170,930 graduates in economics. Universities in regions and states offer BA (Economics) courses to turn out human resources from an economic point of view.
At the ceremony, the Senior General and attendees watched a video clip on the 100th anniversary of Myanmar’s economics education.
Patron of the organizing committee Dr Than Nyun spoke words of appreciation while Chairman of the Leading Committee Union Minister for Investment and Foreign Economic Relations Dr Kan Zaw reported on holding the commemorative ceremony.
After the ceremony, the Senior General and party visited the exhibition to mark the centenary celebration of Myanmar’s economics education.
Concerning teaching economics education in Myanmar, the Economics Department was opened under the Social Science Faculty of the Yangon University in 1924. This year falls on the centenary of economics education coincides with the 60th anniversary of the Yangon University of Economics.
Also present at the ceremony were Joint Secretary General Ye Win Oo, council members, Union ministers, Union-level dignitaries, the Nay Pyi Taw Council Chairman, senior Tatmadaw officers from the Office of the Commander-in-Chief, the commander of Nay Pyi Taw Command, deputy ministers, officials and students. — MNA/TTA

Source- The Global New Light of Myanmar

VOLKSWAGEN Group and SAIC Motor announced on Wednesday that they have signed an extension for their joint venture contract in Shanghai until 2040, further strengthening their long-term partnership.

SAIC Volkswagen is China’s first joint venture for passenger cars. This marks the second time that both parties have renewed the contract, extending the period of their joint venture to 55 years.

“The foundation of our success in China lies in the strong, trustful partnerships. The best example of such a partnership is our long-term, successful cooperation with SAIC,” said Ralf Brandstätter, member of the board of management of Volkswagen AG for China, who delivered a speech via video link during the signing ceremony. — Xinhua

Source- The Global New Light of Myanmar

Production development can boost State GDP

The Senior General pledged to arrange investments and fulfilment of other needs to operate agriculture and livestock-based businesses.

Chairman of the Financial Commission Chairman of the State Administration Council Prime Minister Senior General Min Aung Hlaing said so at the Financial Commission meeting at the SAC Chairman’s Office in Nay Pyi Taw yesterday morning.

The Senior General disclosed that this meeting aims to approve the demand for the additional budget for the Union as well as regions and states in the 2024-25 financial year.

He underscored that only when domestic production increases will import volumes be reduced and will spending foreign currency decline. Only then, domestic currency circulation improves and it will contribute to the stability of the State’s monetary sector.

He instructed Union ministries, and regional and state governments to scrutinize the spending of additional budget on prompt development of the State economy and socioeconomic development of the entire people.

He highlighted that the development of production can help increase the GDP of the State. As the development of agricultural, industrial, service and financial sectors are interrelated, efforts must be made for the improvement of agricultural and livestock sectors.

The Senior General pointed out that it is necessary to consider upgrading airports, repairing railways damaged by natural disasters, and learning opportunities and vocational learning for the offspring of Tatmadaw members and MPF members who sacrificed their lives and limbs in serving duties of State peace and stability and rule of law.

He pledged to arrange investments and fulfilment of other needs to operate agriculture and livestock-based businesses. Priority will be given to fulfil the basic needs of the people in Nay Pyi Taw as well as regions and states this FY and coming FY. He stressed that relevant ministries and regional and state officials need to consider how to provide the full volume of inputs to the agricultural tasks.

The Senior General noted that chicken, pig, goat, cow and fish can be bred in relevant regions, if people really operate their businesses, these sectors can help ensure the food security of the region. Hence, special emphasis must be placed on the welfare of people from basic strata.

The Senior General stressed the need to efficiently allocate the additional budget to Union ministries, regions and states under financial rules and regulations without waste and loss.

Myanmar’s GDP is lower than that of neighbouring and regional countries, so Union-level organizations, regions and states have to strive for an increase in GDP.

Vice-Chairman of the Commission SAC Vice-Chairman Deputy Prime Minister Vice-Senior General Soe Win explained that the National Disaster Management Fund must be provided for rehabilitation for unexpected natural disasters and preventive measures against other disasters, and basic needs and management measures for displaced people and the cash assistance account from the additional budget of the Ministry of Planning and Finance was added with K275 billion. So, the additional budget bill was submitted to seek the approval of the Financial Commission.

Secretary of the Commission Union Minister U Win Shein reported on the additional accounts of the Union, the prepared estimated accounts and the additional budget of the Union for the 2024-25 financial year.

Union Minister for Legal Affairs and Union Attorney-General Dr Thida Oo and Union Auditor-General Dr Khin Naing Oo discussed measures related to the bill and measures to be taken in the future for the findings on the budgets.

The Nay Pyi Taw Council chairman and chief ministers of regions and states reported on their sectors. — MNA/TTA 

Source- The Global New Light of Myanmar

DURING his third visit to the Chinese mainland this year, Apple CEO Tim Cook said he highly values Chinese suppliers.

Analysts believe this has demonstrated the importance of China’s supply chain and market for the American company. “I am so proud that Apple has an exhibit here with our partners. We could not do what we do without them,” Cook said on Monday ahead of the second China International Supply Chain Expo (CISCE), scheduled from Tuesday to Saturday in Beijing.

At the expo’s main venue, Cook visited the joint booth of Apple’s four Chinese suppliers, which will exhibit components and technologies involving flexible production lines, green technology and optical products. He highlighted innovations in the Apple supply chain.

Despite challenges including external uncertainties, China remains an indispensable part of Apple’s global supply chains. Out of Apple’s 200 major suppliers worldwide, over 80 per cent have set up factories in China, contributing to the manufacturing of a wide range of Apple products.

During his visit to Shanghai in March, Cook reiterated the company’s long-term commitment to the Chinese market when he opened Apple’s biggest retail store on the Chinese mainland. — Xinhua

Source- The Global New Light of Myanmar

YAMAHA Motor, a leader in the motorcycle industry, is advancing its innovation to provide riders with more convenience, comfort, and safety.

Recently, the company introduced the Yamaha Automated Manual Transmission (Y-AMT) system, a breakthrough that combines the functions of a clutch lever, shift pedal, and automated/manual transmission control into a single handlebar lever.

An official from Yamaha Motor stated, “The purpose of the Y-AMT system is to expand the range of enjoyment for motorcycle riders. Even experienced sports riders can now experience a new level of comfort beyond what was previously possible.

We’ve designed the system to merge the excitement of sports riding with enhanced rider-machine communication. Our goal is to elevate the fun of motorcycling while providing riders with more options”. He also noted, “With the Y-AMT system, riders can shift gears with a simple finger movement. The switch between automated and manual driving modes can also be controlled effortlessly with the same hand. This revolutionary system offers an unprecedented level of convenience and comfort for riders. By simplifying the riding experience, Y-AMT allows riders to better appreciate their surroundings and focus on road safety. As a result, the system promotes safer and more enjoyable rides”. — ANI

Source- The Global New Light Of Myanmar

Vienna boosts Christmas lights to support struggling retailers amid economic downturn.

VIENNA will splash the cash on lighting up its famed Christmas markets to bring festive cheer to struggling retailers.

Chandeliers, glittering stars and sparkling red globes are among the designs illuminating 31 Viennese streets since Friday, with the capital boosting spending on its end-of-year light displays as Austria’s economy flounders. “It’s just beautiful. It makes the city a bit more beautiful as a whole,” Kateryna Baranovska, a 23-year-old student, told AFP.

As local businesses struggle with rising costs, Vienna’s economic chamber is covering 75 per cent of the city’s Christmas lighting expenses this year, totaling about 700,000 euros.

This shift comes as Austria’s economy faces challenges, especially due to its reliance on neighboring Germany. Dieter Steup, a representative from the chamber, emphasized the importance of festive lighting for retail, as it enhances the shopping experience during the crucial pre-Christmas period.

To minimize environmental impact, Vienna uses energy-efficient LED lights powered by renewable sources. Despite increased energy costs, the city’s Christmas lights continue to create a cherished ambiance, with 64 per cent of Austrians praising them in a recent survey. — AFP

Source- The Global New Light of Myanmar

RUNNING from 5 to 10 November, the 7th CIIE has attracted 3,496 exhibitors from 129 countries and regions. Among all participants, 186 enterprises and institutions have achieved full attendance across all seven editions of the expo, while many others are new faces exhibiting for the first time. The Annual Meeting on Pragmatic Cooperation with in the Belt and Road Initiative (BRI) Framework between Peru and China was held on Friday, according to the organizers. The attendees had an indepth discussion on new opportunities for bilateral cooperation under the BRI framework and future development. A series of pragmatic results were achieved at the meeting, including the release of the think tank report “Jointly Promoting High-Quality Development and Building an Asia-Pacific Community with a Shared Future”. The new Spanish-language version of the Belt and Road Portal, an official site in Spanish for the BRI, was launched at the meeting, where the Latin America Liaison Office of the Belt and Road Economic Information Association was also officially inaugurated. The attendees also visited a photo exhibition on pragmatic BRI cooperation between China and Latin America during the event. The event, jointly organized by the China Economic Information Service of Xinhua News Agency and Peru’s Andina News Agency, was coorganized by the China Southern Power Grid Co., Ltd. Present at the meeting were more than 100 guests, including officials and representatives from government, businesses, media, and think tanks from China and Peru. — Xinhua

Source: Global New Light of  Myanmar

STATE Administration Council Chairman Prime Minister Senior General Min Aung Hlaing met Mr Wang Ning, a member of the Communist Party of China’s Central Committee and Secretary of the Yunnan Provincial Party Committee, at the Haigeng Hotel in Kunming, China, yesterday evening.

The Myanmar delegation, led by the Senior General, was warmly received by Mr Wang Ning, and both parties took commemorative photos to mark the occasion. During the meeting, Mr Wang expressed his firm welcome, highlighting Yunnan Province’s ongoing economic development and the close diplomatic and economic ties shared with Myanmar.

He underscored Yunnan’s interest in expanding cooperation in infrastructure projects, cross-sector collaborations, and joint efforts to address cross-border issues.

Senior General Min Aung Hlaing expressed appreciation for the warm hospitality extended by Yunnan officials.

Noting the upcoming 75th Anniversary of Myanmar-China diplomatic relations, he spoke about the enduring ties between the two nations, especially the significant connection with Yunnan Province. The Senior General stressed the importance of peace and stability along the border to support trade and economic development and called for continued joint efforts to secure the border regions.

He further highlighted Myanmar’s potential for agricultural and resource-based investments to help meet global food security. The Senior General encouraged Yunnan Province to explore investment opportunities in agriculture, renewable resources, education, health, and culture, emphasizing Myanmar’s readiness for collaboration in these areas. He also underscored the need to enhance security measures for smoother exchanges and a stable bilateral framework.

In addition to discussing trade and economic cooperation, the meeting covered potential areas of collaboration in electricity generation and human resource development. SAC members, the Myanmar ambassador to China, and other representatives from both countries attended the meeting. The event concluded with an exchange of gifts and a formal dinner. — MNA/TMT

Source- The Global New Light Of Myanmar