AEC Feed

Myanmar’s Commerce Ministry is planning to launch a system to issue export/import licences online at the beginning of the 2016-17 fiscal year, said Nyunt Aung, director-general of the ministry’s Trade Department.
Last Friday, the ministry held a meeting with 25 relevant departments on the issuance of export/import licences through an online system. Companies will be able to submit applications for licences and make e-payments anywhere with Internet access.
Companies will also be able to use Myanmar Payment Union cards to pay licence fees.
According to a ministry survey, 67.55 per cent (866 persons) favour an online system, 16.85 per cent (216 persons) favour a manual system and 15.44 per cent (198 persons) favour a combined system.
To facilitate trade, the Commerce Ministry has issued exemptions for 152 export items, along with 983 HS (Harmonised System) codes. It has also exempted 166 import items and issued 279 HS codes. – Eleven Myanmar
 New foreign-ownership rules in the Philippines
 The Philippine Securities and Exchange Commission and Philippine Association of Securities Brokers and Dealers are at odds over new disclosure procedures prescribed for compliance with the 40-per-cent foreign-ownership rule on Philippine companies.
Under the country’s foreign-investment law, 100-per-cent foreign equity may be allowed in all areas of investment except those reserved for Filipinos under the Philippine constitution and existing laws.
Within the 1991 Foreign Investment Act there are two negative lists that define what foreign investments are limited or restricted by the constitution and specific laws.
Under Negative List A are 28 business areas where foreign ownership is not allowed but exclusively reserved to Filipino citizens. These include mass media, retail trade enterprises with paid-up capital of not less than US$2.5 million (Bt89 million), cooperatives, and small-scale mining.
Under Negative List B are business or investment areas where foreign ownership is allowed, but only up to 40 per cent. – Philippine Daily Inquirer