
Rampant smuggling holds back Myanmar economy
Illegal smuggling of goods across its borders has become a serious challenge to Myanmar’s effort to modernize its economy, undermining healthy growth of markets and eroding tax revenues.
Aung Moe Kyaw, chairman of International Beverages Trading, which started co-producing beer with Dutch company Heineken last year, views smuggled beer as a bigger threat than competition from domestic rivals.
The home-grown beverage giant is generally doing well, with plans to expand production facilities this year. But illegal imports from neighboring countries such as Thailand are a source of headaches.
http://asia.nikkei.com/Politics-Economy/Economy/Rampant-smuggling-holds-back-Myanmar-economy
Related Posts
Tata Motors intensifies campaign against counterfeit spares
Tata Motors has commenced a systematic multi-pronged campaign against the sale of...
Mumbai Airport Customs Seizes Smuggled Gold Worth ₹ 30 Crore In Past 28 Days
In the last 28 days, the Mumbai Airport Customs have seized smuggled gold...
Turkey comes across biggest smuggling case to date
Turkey has launched a major operation aimed at bringing down a suspected gang...
COVID-19: Four arrested in Maharashtra for selling liquid paracetamol in empty Remdesivir bottles
Mumbai: Maharashtra's Baramati police busted a gang and arrested four people for...