Myanmar removes companies from blacklist after export earnings fully deposited

In this picture taken on September 18, 2015, employees work at a garment factory in the Shwe Pyi Thar industrial zone in Yangon. The Central Bank of Myanmar announced that the blacklisting and entry and exit bans on 29 companies and their directors have been lifted. - AFP

YANGON: The Central Bank of Myanmar (CBM) announced that 29 companies on the blacklist have been removed from the blacklist, saying that their export earnings have fully returned.

A total of 29 companies with a value of US$500,000 or more that did not return export earnings after exporting in 2020, 55 companies with a value of US$500,000 or more that did not return export earnings after exporting in 2021, and 177 companies that did not return export earnings after exporting between 2016 and 2020, were blacklisted and the Ministry of Home Affairs and the Ministry of Immigration and Population have taken steps to blacklist and prevent entry and exit to Myanmar, in coordination with the CBM.

The Central Bank of Myanmar announced that the blacklisting and entry and exit bans on these companies and their directors have been lifted, as 29 of the companies have fully returned their export earnings. - Eleven Media/ANN