Myanmar govt faces setbacks in enforcing compliance with EITI database

The government says it lacks the mechanisms to force companies to disclose ownership information through a public registry, which are part of recent measures to clean up corruption in the extractive industry. Myanmar’s Extractive Industries Transparency Initiative (EITI) unit, a government body under the finance ministry, held a press conference on February 28 to address […]

Beneficial-owner database lauded despite some weaknesses

Owners of major businesses or their close relatives who hold prominent public positions have so far not declared themselves as such, according to a Myanmar Times review of a new government database on beneficial ownership. The Directorate of Investment and Company Administration (DICA) recently published on its website the beneficial-ownership database for the Extractive Industries […]

FDA sues 25 pharmacy shops as of July

Food and Drug Administration (FDA) sued 25 drug stores for allegedly selling illegal, substandard medicine between January and July, 2017, according to a report in the City News Daily yesterday. In 2016, FDA took action against 99 drug stores. “We have no judicial power to punish unlawful pharmacies. We can only take them to court,” […]

Gubelin Gem Lab eyes ‘Ruby Land’

Gubelin Gem Lab, a Swiss company that has a regional office in Hong Kong, sent foreign gemologists to Mogok, known as “Ruby Land”, in early July to test gemstones in the area, which has previously been off-limits to foreigners. “After the government allowed foreigners into Mogok in April we received permission for our technicians to […]