The Ministry of Commerce (MOC) last month suspended 103 licenses to re-export sugar due to a lack of demand from China, said U Win Htay, deputy chair of the Myanmar Sugar and Sugarcane Related Products Merchant & Manufacturers Association. Out of 103 companies, 49 companies will have their trading registrations suspended for three months, while […]
Myanmar ups efforts to stem fall in rice exports
January 25, 2019 by
Myanmar’s rice exports have been falling over the past year, and the government is upping efforts to diversify its markets and reduce costs to better compete with other exporting countries. Myanmar exported 1.7 million tonnes of rice and broken rice worth US$ 578 million in between April and December last year, according to the Ministry […]
Confusion emerges after foreign liquor ban
November 6, 2018 by
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 […]
Govt bans MLM firms
September 20, 2018 by
The Ministry of Commerce (MOC) on September 18 issued notification (46/2018) which prohibits the business of multi-level marketing (MLM) in Myanmar. The ban will take effect immediately. Action will be taken against all MLM businesses found to still be in operation after the date of the issued notification, under the Essential Supplies and Service Law. […]
Local retailers balk at foreign competition as economy slows
September 18, 2018 by
While opening up the domestic retail and wholesale sector to foreign ownership has succeeded in generating rising investor interest, local concerns over the move by the Ministry of Commerce (MOC) have also grown. Chief among those concerns is foreign competition. In fact, local retailers say there should be restrictions placed on foreign firms that directly […]
Prioritising essential imports one way to better manage trade deficit: VP
August 29, 2018 by
Traders should exercise more discipline when importing items that are non-essential to the Myanmar economy, as this could help prevent the budget deficit from widening beyond necessary, vice president U Myint Swe said during a meeting at the United Myanmar Federation Chambers of Commerce and Industry (UMFCCI) on August 24. At a time when inflation […]
Kyat rebounds after re-export activities suspended
August 27, 2018 by
The spike in the exchange rate between the US dollar and Myanmar kyat appears to have tapered after the Ministry of Commerce (MOC) on August 17 temporarily suspended re-exports of sugar and diesel. “We suspended re-exports of sugar and diesel because the cash flows involved are huge enough to influence the exchange rate,” said U […]
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