The Ministry of Natural Resources and Environmental Conservation has issued a notice that legal action will be taken under Section 5 of the Essential Commodities and Services Law against any entities involved in gold trading without obtaining the required business license and adhering to established regulations.

On October 24, the Union Government of the Republic of the Union of Myanmar designated the gold trading sector as an essential service under Section 4(c) of the Essential Commodities and Services Law, as per Order No. 35/2024. This order empowers the Ministry of Natural Resources and Environmental Conservation to issue directives, regulations, and prohibitions to manage, monitor, and safeguard the industry as needed.

Following this, the Ministry announced on October 25 through Order No. 038/2024 that gold trading is classified as an essential service. According to the order, businesses intending to operate in this field are required to apply for a license and comply with the defined regulations as stipulated in Order No. 055/2024, issued on October 25, 2024. Failure to do so will result in legal consequences as per the Essential Commodities and Services Law.