Hsu/Pearl (NP News) - Nov 15
Myanmar has just over 6,800 legally licensed gold shops, according to a mining official interviewed by The Statesman.
During the two-year period from October 2024 to the end of October 2026, over 7,100 applications for mineral (gold) trading service licenses have been submitted to the Business License Scrutiny Committee in Nay Pyi Taw.
Applications are being reviewed and approved following the official guidelines for gold and mineral trading services. To date, 6,817 applications have been approved.
“There have been 7,103 applications, of which 6,817 have been approved,” an official from the mining sector told NP News.
As of 2023, the Yangon Region Gold Entrepreneurs Association counted around 600 members, whereas Yangon Region was home to over 10,000 gold shops.
New gold shops keep opening each month. Business license applications, along with supporting documents, can be submitted to the relevant preliminary scrutiny committees in Nay Pyi Taw, the regions, or states. Still, the number of officially licensed gold shops remains at just over 6,800.
To support government efforts to stabilize the US dollar, gold, and automobile markets, online sales of gold, raw gold, jewelry, and related products have been temporarily banned. Additionally, approved business registration renewals are currently suspended. –
