6 Feb 2018
MYANMAR: Overseas Joint Venture Businesses Approved to Export Cosmetics and Ceramic Products
Foreign businesses in Myanmar can now form joint ventures with local companies for the purpose of exporting a range of products, including cosmetics, purified metals, wood-based furniture, and ceramic tableware and kitchenware. The change is part of a government move to boost exports of value-added finished products in a bid to reduce the country’s reliance on raw material export. Meanwhile, no wholly foreign-owned companies are allowed to engage in such activities.
Other domestic goods now allowed to be processed for export by Myanmar-foreign joint ventures include meat, plastics, paper pulp, chemicals, compressed gases, agricultural products, and animal fodder. Myanmar’s commerce ministry has indicated that further items will be opened up for export by joint venture businesses in the foreseeable future.