28 June 2017
MYANMAR: Wholly Foreign-owned Businesses Granted Extended Trading Rights
For the first time, wholly foreign-owned companies have been approved to import, distribute and trade in hospital equipment, construction materials, seeds, pesticides and fertilisers. This is an amendment to a July 2016 ruling that specified that any foreign company looking to trade in the above sectors could only do so via a joint venture with a local partner.
The move to liberalise trade in the above sectors forms part of a government drive to boost domestic competiveness and follows reports of poor quality items being smuggled into the country from across its land borders.
For further details, see MYANMAR: Overseas Joint Venture Businesses Approved to Import Construction Materials.