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
US Charges 22 Chinese Importers with Smuggling Counterfeit Goods into US
A federal court in New York has charged 22 Chinese importers with smuggling...
Huge tobacco find on Armagh farm sparks ‘soft touch for smugglers’ claim
Political wrangling over the powers of the National Crime Agency operating in...
WATCH: Mumbai Customs department seizes 2.8 gold, foreign currency valued over Rs 2 crore in multiple cases
Mumbai: In a major bust in Mumbai, officers of the Air Intelligence Unit (AIU)...
Hyderabad: Gold worth Rs. 5 crore seized at airport
Hyderabad: Gold bars worth over Rs. 5 crore were today seized at the...