Active black market discourages foreign firms, says minister

The prominence of the domestic black market continues to discourage prospective foreign investors from entering the country, according to Minister of Commerce U Win Myint. Foreign firms are worried that black market goods are often sold at unfairly low prices because importers avoid paying import duties and taxes as well as following proper regulations, and […]

Mobile Team to Check Air and Sea Cargoes

Union Minister U Win Myint said the country’s Mobile Team will check cargoes, being carried into Myanmar via air and water ways, whether they are legal or not. Usually, the Mobile Team examines goods being couriered across Myanmar’s borders in vehicles using the country’s motorways. Union Minister U Win Myint has confirmed a six-month test […]

Govt cracks down on contraband

Myanmar’s Mobile Team announced this weekend it had seized over one billion kyat (US$1 million) worth of smuggled goods between August 2013 and the beginning of May this year from seven ports in Yangon. The squad’s deputy-director, Myint Oo, said over 70 percent of all contraband was confiscated following tips from members of the public. […]

Government to charge wine distributor

Executives of wine importer Premium Distribution will stand trial and face a possible prison term after a government investigation revealed the company was unable to produce an import licence for about 80,000 bottles of wine stored at its warehouse in Yangon, officials said. On December 4, a task force from the Ministry of Commerce raided […]