Problems relating to Trade and Investment on Myanmar

12. Exchange controls
Issue	Issue details	Requests	Reference

(1) Restricted External Remittance

- (Inward remittance) remittance of advance money is disallowed.

- It is requested that GOM authorises remittance of advance payment.

(2) Disallowed Export Licence under Deferred Payment

- (Deferred payment) export licence is available only by advance payment or payment by letters of credit.

- It is requested that GOM takes step to issue export licence even under the deferred payment terms.

(3) Restricted Borrowing of External Funds

- Where a Member Firm's Subsidiary (MFS) is in need of operational funds, and seeks borrowing from the (overseas) member firm, it is difficult and time consuming to obtain GOM's approval, jeopardising continuation of MFS business in Myanmar. The basis of GOM approval is not clearly identified.
- External borrowing has come to require approvals of both MIC and Central Bank of Myanmar (CBM). It takes a lot of time for its acquisition from both.

- It is requested that GOM clarifies the standard for issuing licences.

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