The Ministry of Commerce has just issued its third notification within the last 18 months making specific exceptions to the restrictive blanket policy on “trading” activities by “foreign” entities. While “trading” is not defined, a “foreign” company is any company which has any foreign shareholding.
This new Notification No. 56/2016 (7 July 2016) allows the conduct of retail and wholesale of construction materials and items by approved joint ventures between Myanmar and Foreign investors. This follows similar Notifications providing exceptions for the car showroom business (No. 20/2105, March 2015) and “trading in fertilizer, seeds, pesticides and medical devices” (No. 96/2015, Nov 2015), on which we earlier reported.
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