July 04, 2017

Breaking News

Myanmar building materials trade open to local-foreign joint ventures

Workers seen at a worksite in Yangon. Photo: Aye Min Soe
Workers seen at a worksite in Yangon. Photo: Aye Min Soe

The Ministry of Commerce has permitted local-foreign joint ventures to trade construction materials with the relaxation on trade restrictions for foreign companies announced recently.
“Imported construction materials should meet standards set by the relevant department,” said the announcement.
Local-foreign joint ventures need to submit their bank statements when applying for a license and they must follow the same rules as local traders, including limits on trade value, said the announcement.
However, the list of construction materials that are permitted to local-foreign joint ventures would be adjusted depending on local demand and the situation of market and local businesspeople, according to the announcement.— GNLM

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