27.03.2025 (04:30 PM) Htate

U Myo Myint, chairman of the Yangon Gold Merchants Association, has urged large gold shops selling gold online to apply for an online license.

“If you want to sell online, you have to apply for an online license in trade. Once you get an online license, you can go on Facebook and sell. If you buy and sell without that license, you will be subject to further action,” said U Myo Myint, chairman of the Yangon Gold Merchants Association.

Large gold shops are selling online and are requesting to apply for an online license, U Myo Myint continued.

“Many large shops sell online. We request that these large shops apply for an online license in trade,” U Myo Myint said.

The Ministry of Natural Resources and Environmental Conservation has announced that gold shops must apply for a business license to trade gold on the ground and that if they fail to comply with the specified rules, they will be subject to action in accordance with Section 5 of the Essential Goods and Services Law.

Those opening gold shops are required to apply for a mineral (gold) trading service license, and applications closed on February 17.