TODAY

150 import items no longer need to seek licence

OUT of over 4,100 import items, a licence  starting in January, according to an announcement released by the Ministry of Commerce.

The commodities which will be granted relief include coffee, tea leaves, spices, rubber and associated products, aluminum and associated materials, metal and associated materials, locomotives and associated engines and auto parts, it is learnt.

The relief import licensure for these products brings it in accordance with the trade rules and regulations of the World Trade Organization and ASEAN Myanmar of which is a member of both country. The Commerce Ministry granted relief on 152 export items and 166 import items in this fiscal year in a bid to facilitate trade and reduce the trade deficit, it is learnt.

Ref: GNLM, 27 December 2016

Pubic Company to be established for Kyaukpyu SEZ

A public company comprising Myanmar enterprises will be established for Kyaukpyu special economic zone project, according to the Kyaukpyu SEZ Management Committee (Yangon).

Kyaukpyu SEZ plays an important role in enhancing Myanmar’s economy.

China’s CITIC Group Corporation gained a significant foothold with 85 per cent of the shares in the project, with only the remaining 15 per cent available to citizens.

Myanmar entrepreneurs expressed their dissatisfaction, so a public company comprising Myanmar businessmen are being set up for Kyaukpyu SEZ Project.

In a bid to review and scrutinize the project, Kyaukpyu SEZ Management Committee was formed. Those who want to cooperate in the public company were asked to submit an application to committee by 15^th December, but the date has been extended one more month to meet the target in establishing the public company, it is learnt.

Ref: GNLM, 27 December 2016