Trade Department Briefs on Regulations of Retail/Wholesale Business Registration
Department of Trade organized a briefing on regulations and standard operating procedures for foreign and local businesses investing in Myanmar’s retail and wholesale sector, at the Park Royal Hotel in Yangon. The Director General U Yan Naing Tun of the Trade Department said that the new regulations was drafted and adopted in order to enable better competition among retail/wholesale businesses, to enable consumers have more choices and effectively reduce commodity prices, and to increase foreign investment inflow.
Fully citizen-owned companies, fully foreign-owned companies and joint-ventures can register at the Ministry of Commerce as retailer and wholesalers, along with necessary documents.
Citizen-owned companies with an investment capital of less than USD 700,000 do not need to apply for the permit.
New regulations also demand from foreign and joint-venture companies, minimum initial investment capitals and areas of business operations.
Application forms, standard operating procedures (SOP) and terms and conditions for retailers and wholesalers can be downloaded in the MoC’s official website: https://www.commerce.gov.mm/
Simultaneously, Ministry of Commerce has issues a list of commodities groups permitted for wholesale and trading by Notification No. 3/2018 dated 26 July 2018. The list of commodities groups are as follows:
1. personal items (including clothing, watches, cosmetics)
2. The following also come under foodstuff:
a. agricultural produce (other the commodities prohibited from import according to needs of the Union)
b. aquatic products;
c. animal products;
d. ready-to-eat foodstuff;
e. soft drinks, all kinds;
f. domestically produced beverages;
3. household items (including ceramics, earthenware, glass and glassware)
4. kitchen-use items;
5. medicine, medical equipment, hospital equipment;
6. animal feed and veterinary medicines;
7. stationery ;
9. sports equipment;
10. communication equipment (including cameral and phones)
11. electronic goods
12. construction equipment and materials;
13. electrical goods;
14. industrial chemicals;
15. seeds, agricultural inputs, materials/equipment;
16. farming machinery equipment;
17. machines all kinds, and auxiliary equipment/materials;
18. bicycles, all kinds;
19. motorcycles and auxiliary equipment/materials, all kinds;
20. spare parts for motor-vehicles and machinery;
22. home decoration items (including flowers and plants);
23. gift items and handicrafts, all kinds;
24. art materials/equipment, musical instruments and auxiliary materials/equipment (excluding antiques).