Following our earlier Client Alert dated 15 May 2018 on Notification 25/2018 which allows for foreign companies and joint venture companies to engage in retail and wholesale business within Myanmar, the Ministry of Commerce (“MOC”) has on 26 July 2018 issued Bulletin 3/2018 (“the Bulletin”) on a priority list of goods which are permitted to be sold through wholesale and retail by foreign companies and joint venture companies (“Priority List”).
In addition to the release of the Priority List, the Bulletin states that priority for sale should nonetheless be given to value-added products that are manufactured domestically and that the Priority List may be amended and re-issued from time to time based on the needs of the country.
The Priority List are as follows:
The Priority List as released is in general terms without specific references to the type of products that are allowed to be traded. Therefore, whilst at first glance, the Bulletin appears to narrow the initial liberalisation for foreign companies and joint-venture companies to trade with the creation of a fixed list, given the broad language contained within the Bulletin, we are of the view that there remains ample opportunities for foreign companies and joint-venture companies wishing to expand and undertake trading activities in the Myanmar market.
If you have any questions or require any additional information as may be particularly relevant for your business, please contact Dr Maung Maung Thein, Geraldine Oh or the ZICO Law partner you usually deal with.
This alert is for general information only and is not a substitute for legal advice.