What to expect from Myanmar’s top five export sectors

Even though Myanmar managed to bring down its trade deficit by US$500 million to $1.3 billion during the period between April 1 and September 30 from the same period last year, the volatile exchange rate and rising oil prices may well continue to drive up import costs in the coming months. U Yan Naing Tun, […]

Myanmar eyes e-commerce for jobs, trade and economic growth

Government officials, donors and partners have met to consider the United Nations Conference on Trade and Development (UNCTAD)’s appraisal of how e-commerce can boost Myanmar’s economy and the next steps forward. The power of e-commerce to create jobs and increase trade in Myanmar was in the spotlight on 30 October, as government officials, development partners, […]

Confusion emerges after foreign liquor ban

At a liquor store in downtown Yangon, bottles of whisky and wine are on display. Upon closer inspection, one soon notices that wines from Argentina to New Zealand are for sale, but only whiskies made locally are available. “Foreign liquors are not on display because we are not allowed to sell them,” the sales assistant […]

Four retail-wholesale JVs permitted to operate

Six months after allowing foreign investors to register and participate in the domestic retail and wholesale sector in May, the Ministry of Commerce (MOC) has so far permitted four joint ventures between foreign and local investors Under notification 25/2018 issued on May 9, the MOC allowed 100 percent foreign-owned businesses to operate in the retail […]

Growth in mining industry expected as investments rise

Myanmar’s mining industry is expected to expand in next year on the back of higher foreign and domestic investments. And as more permits for small-scale mining in the regions and states will be approved, mineral exports will also improve during the year, U Than Soe, deputy permanent secretary of the Ministry of Natural Resources and […]

Illegal trade takes a heavy toll on country’s economy

Smuggling and illegal trade continue to be a major problems for the country’s economy, says the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI). According to the Business Sentiment Survey issued by UMFCCI in May, illegal trade stands at sixth among the top 10 issues hampering the country’s economy. The survey was […]

CMP garment export earnings hit over $2.2 bn in six months

Photo shows workers at a garment factory in Yangon. (Photo-Zeyar Nyein) Out of total export value in the six-month mini budget from April to September this year, earnings from export of CMP garments reached the largest amount with US$2.2 billion, exceeding over US$1 billion compared to the same period of last year, according to the […]

CNI Holdings suspends MLM business in Myanmar

CNI Holdings Bhd has suspended its multi-level marketing (MLM) business activities in Myanmar after local authorities banned the use of such methods. In a filing with Bursa Malaysia today, CNI said the Ministry of Commerce Myanmar had on Sept 18 issued a notification prohibiting the business of MLM in Myanmar. As a result, its indirect […]

Legislation in the works to regulate multi-level marketing

Following the government’s prohibition of multi-level marketing via a notification dated September 18, consumer rights advocates and other experts have come out to say more must be done to educate the public about the drawbacks of the system. The notification from the Ministry of Commerce says those found operating MLM-type businesses will face legal action […]

Retailers hit with liquor import ban

Liquor retailers are no longer allowed to sell imported brands, as it is a violation of Ministry of Commerce regulations. The ministry hasn’t allowed the import of alcohol, beer and cigarettes, except by duty-free shops and a few high-end hotels, since the days of the military government. However, the General Administration Department under the Ministry […]