Myanmar Reconstitutes Foreign Exchange Supervisory Committee

On 6 August 2025, the Office of the National Defense and Security Council issued Order No. 20/2025 (“the Order”), establishing the Foreign Exchange Supervisory Committee (“the Committee”) to stabilize the foreign exchange rate and promote the efficient use of foreign currency in support of Myanmar’s economic development. This follows the earlier establishment of the Foreign Exchange Supervisory Committee (“the FESC”) by Myanmar’s State Administration Council on 4 April 2022.

Composition

U Nyo Saw, Prime Minister of Myanmar, chairs the Committee. Its members include:

Dr. Wah Wah Maung, Union Minister of Investment and Foreign Economic Relations
U Chit Swe, Union Minister of Commerce
Dr. Khin Naing Oo, Union Auditor General
Daw Than Than Swe, Governor of the Central Bank of Myanmar

The Committee’s Secretary is Dr. Kan Zaw, Union Minister of Finance and Revenue.

Responsibilities

The Committee is tasked with scrutinizing and approving foreign currency usage for the following categories. While its responsibilities remain the same as the previous FESC, we summarize them here for reference.

Imports of machinery, industrial vehicles/equipment, utilities, and raw materials for investment and manufacturing enterprises
Imports of essential goods for public needs, such as fuel oil, medicines, edible oil, fertilizers, and pesticides, as well as construction materials not available domestically.
Overseas expenses for Myanmar citizens traveling for medical treatment, education, and religious purposes
General imports, foreign loan repayments, service fee payments, and profit repatriation by investment enterprises
Luxury goods imports, subject to necessity
Oversight of foreign currency operations across domestic and foreign investments, manufacturing, import/export, and service sectors including education and healthcare

Implications

The reconstituted Committee is expected to continue the same role as the former FESC in approving foreign currency transactions and regulating cross-border payments. Businesses engaged in imports, investments, or foreign remittances should note the change in membership and continue to monitor developments, remaining prepared for ongoing scrutiny and approval requirements.

The information provided here is for information purposes only and is not intended to constitute legal advice. Legal advice should be obtained from qualified legal counsel for all specific situations.