Indonesia's Prabowo announces export controls for coal, palm oil

NoahJune222

News Image

  • Indonesia's Prabowo announces export controls for coal, palm oil
  • Indonesia's Prabowo announces export controls for coal, palm oil
  • Indonesia's Prabowo announces export controls for coal, palm oil
  • Indonesia's Prabowo announces export controls for coal, palm oil
  • Indonesia's Prabowo announces export controls for coal, palm oil

On Wednesday, Indonesian President Prabowo Subianto announced tighter state controls over strategic commodity exports, including coal and palm oil. The policy aims to curb tax evasion, stop under-invoicing, and support the plunging country’s currency by centralizing trade through state-backed agencies and bolstering national foreign exchange reserves.

Prabowo cited significant historical revenue losses, stating that commodities have been sold cheaply on international markets. The new controls also aim to ensure declared export values align with relevant global indices.

mitv

EN-News-Category
Business news
Business-International news

Related News

Observing Handicraft Art Center: MCRD UM observed Handicraft Art Center (Yangon) , Observing Handicraft Art Center: MCRD UM observed Handicraft Art Center (Yangon) , Observing Handicraft Art Center: MCRD UM observed Handicraft Art Center (Yangon)
Observing Handicraft Art Center: MCRD UM observed Handicraft Art Center (Yangon)
Union Minister for Cooperatives and Rural Development U Myo Zaw Thein visited the Myanmar Handicraft Art Center (Yangon), operated by the Small-Scale Industries Department, Monday morning to observe the display and sale of traditional Myanmar handicrafts.During the inspection, the Union Minister discussed the need to use media platforms to widely promote the Myanmar Handicraft Art Center among foreign visitors and the general public in order to increase awareness and interest.He also emphasized the importance of securing markets for the products by coordinating with the Ministry of Hotels and Tourism, hotel owners’ associations, tourism businesses, and with the assistance of the region government. He addressed the discussions and arranged for the needs presented by business operators to be fulfilled in a coordinated manner.Afterwards, the Union Minister visited the Yangon Region Small-Scale Industries Department Office in North Okkalapa Township and met with departmental staff from Hlegu, Hmawbi, and Taikkyi districts under the ministry’s supervision.During the meeting, he stressed that the ministry should work through cooperative systems and group-based collaboration to increase agricultural and livestock production, and to ensure the success of MSMEs under the cooperative system. He encouraged collective organization and coordinated efforts, and also addressed and fulfilled the needs and suggestions presented by the staff, it’s reported.mitv
Tue, 26-May-2026
Investment Facilitation and Opportunities: Facilitation and opportunities using Yuan discussed , Investment Facilitation and Opportunities: Facilitation and opportunities using Yuan discussed , Investment Facilitation and Opportunities: Facilitation and opportunities using Yuan discussed , Investment Facilitation and Opportunities: Facilitation and opportunities using Yuan discussed , Investment Facilitation and Opportunities: Facilitation and opportunities using Yuan discussed
Investment Facilitation and Opportunities: Facilitation and opportunities using Yuan discussed
The “Discussion on Investment Facilitation and Investment Opportunities Using Yuan Currency” was held on May 25, at the Yangon Region Directorate Office of the Directorate of Investment and Company Administration (DICA) in Yangon.During the discussion, Union Minister for National Planning, Investment and Foreign Economic Relations U Aung Kyaw Hoe delivered opening remarks, stating that Myanmar is inviting investment businesses in line with the country’s Investment Promotion Strategy.He said there are many opportunities for businesspeople to invest in Myanmar, particularly as Myanmar is a member of the Regional Comprehensive Economic Partnership (RCEP) and is cooperating in the implementation of the China-Myanmar Economic Corridor (CMEC).He added that allowing investments to be made using the Chinese yuan currency would help facilitate and accelerate trade and investment processes. He also emphasized that efforts are being made to create a favorable and convenient investment environment for investors. Afterwards, relevant officials explained investment opportunities, the investment situation in Yangon Region, and the policies and procedures related to investments using yuan currency.During the discussion session, businesspeople raised questions and inquiries, which were answered by officials from the Directorate of Investment and Company Administration, the Department of Trade, and the Central Bank of Myanmar.The Union Minister also provided additional remarks and clarifications where necessary.Following the meeting, the Union Minister inspected the operations of the One Stop Service (OSS) team, which provides integrated services at a single location within the Yangon Region Directorate Office of the Directorate of Investment and Company Administration. He also met cordially with staff from the DICA headquarters and gave guidance regarding work requirements and operational needs, it’s reported.MDN
Tue, 26-May-2026
Myanmar pulses export bags US$1.8B in 2025-2026FY
Myanmar pulses export bags US$1.8B in 2025-2026FY
Myanmar generated income of US$1.8 billion from exports of various pulses, maize and sesame seeds in the 2025-2026 financial year (April-March), according to the Myanmar Pulses, Beans, Maize and Sesame Seeds Merchants Association (MPBMSMA).Myanmar exported 1.77 million tonnes of various pulses, 1.23 million tonnes of maize and over 117,000 tonnes of sesame seeds last FY.Myanmar exports various pulses, maize and sesame seeds to over 40 countries, primarily to India, Thailand, the Philippines, China and Vietnam.If the country is stepping up to increase yield per acre to maximize output and benefits.Myanmar is one of the world’s largest bean producers. Myanmar’s agriculture sector is the backbone of the country’s economy, and it contributes to over 30 per cent of the Gross Domestic Product. There are over 17 million acres of paddy and 10 million acres of pulses and beans in the country. The country’s second-largest production is pulses and beans, accounting for 33 per cent of agricultural produce and covering over 20 per cent of growing acres. — ASH/KKgnlm
Tue, 26-May-2026
Shan State’s Green Gold coffee heads to France for 2026-2027 FY
Shan State’s Green Gold coffee heads to France for 2026-2027 FY
According to U Soe Htut Win, Staff Officer of the Cooperative Department in Hopong Township, 34.08 tonnes of Green Gold coffee beans produced in Shan State (South) were exported to France in May of the 2026-2027 financial year.“We are carrying out these activities to earn foreign currency and contribute to the State. At the same time, coffee is being cultivated as a substitute crop, and cooperative member farmers are benefiting from coffee cultivation as an alternative source of income. At present, Green Gold coffee is being cultivated on 16,000 acres,” said U Soe Htut Win.Green Gold coffee is being cultivated as a substitute crop for opium in Loilem Township and Hopong Township. Since 2019, Green Gold coffee has been exported annually to foreign countries, including France and Belgium.Efforts are being made to continue exporting Green Gold green coffee beans to the United States as well. — ASH/KNNgnlm
Tue, 26-May-2026
Myanmar to expand Rice Export Zones to 350,000 acres during this year’s monsoon
Myanmar to expand Rice Export Zones to 350,000 acres during this year’s monsoon
The Myanmar Rice Federation (MRF) will implement the Rice Export Zone project on up to 350,000 acres of land during this year’s monsoon, according to MRF Vice-President U Khin Myint.Under the project, one acre farmland of Rice Export Zone is planned for every tonne of rice exported. The cultivated area will be expanded annually to reach up to five million acres, with the aim of increasing rice exports to five million tonnes by 2030, it is reported.At present, Rice Export Zones are being implemented in around 100 townships across the country under the leadership of the Ministry of Agriculture, Livestock and Irrigation in an effort to double export volumes.“We are cooperating with the relevant ministries to ensure that agricultural subsidies can be delivered to farmers before 15 June and that agricultural inputs and fuel oil can be sold to farmers at reasonable prices. We will also work together with the Myanmar Rice Federation to address the current shortage of paddy seeds,” said U Khin Myint.According to the MRF, 80 per cent of Myanmar’s total rice production is consumed domestically, while only the remaining 20 per cent is exported to foreign markets. In April, the first month of the 2026-2027 financial year, Myanmar earned US$51 million from rice and broken rice exports. — ASH/KNNgnlm
Mon, 25-May-2026
Trading Process: Union Minister inspects trade checkpoints in Keng Tung , Trading Process: Union Minister inspects trade checkpoints in Keng Tung , Trading Process: Union Minister inspects trade checkpoints in Keng Tung , Trading Process: Union Minister inspects trade checkpoints in Keng Tung , Trading Process: Union Minister inspects trade checkpoints in Keng Tung , Trading Process: Union Minister inspects trade checkpoints in Keng Tung , Trading Process: Union Minister inspects trade checkpoints in Keng Tung
Trading Process: Union Minister inspects trade checkpoints in Keng Tung
Union Minister for Commerce U Tun Ohn together with officials inspected Naung Noon, Kyaing Phaung and Wan Tar Pon Checkpoints in Keng Tung of Shan State on Sunday.During the meeting with staff, the Union Minister stressed that emphasis is needed for smooth trading process with pleasant environ and fairness. He also highlighted for promoting export, cooperation with traders for market expansion, meeting the export-led target, and cooperation among all levels in combating illegal trade. He also instructed the staff to follow the established procedures in trading and to serve the duties in accordance with law, bylaw and directives.mitv
Mon, 25-May-2026
© Copyright 2024 SAC All Rights Reserved.