On August 6, 2025, Myanmar’s National Defence and Security Council (NDSC) issued Order No. 20/2025, announcing a change in the composition of the country’s Foreign Exchange Supervisory Committee (FESC). The prime minister has been appointed committee chair of the FESC, and five other individuals were appointed to the committee. The order took immediate effect.

Originally established in April 2022, the FESC is responsible for approving foreign currency conversion, granting exemptions to foreign exchange restrictions, and permitting overseas transfers of foreign currency.

The FESC supervises the flow of foreign currencies for domestic and foreign investment, manufacturing, exports and imports, and service businesses (including education- and health-related initiatives). The FESC is specifically responsible for considering and approving the use of foreign currency for the following:

• Importing machinery, vehicles, equipment, and raw materials essential for foreign investment and manufacturing projects;
• Importing fuel, medicine, cooking oil, fertilizer, insecticide, and construction materials not readily available on the domestic market;
• Covering Myanmar citizens’ needs abroad, such as medical treatment, education, or religious activities;
• Facilitating imports of general goods, loan repayments, interest payments to foreign lenders, service payments, and profit repatriation from investments; and
• Importing luxury products, including brand-name goods, jewelry, sports cars, and watches.

The FESC is empowered to carry out further duties related to foreign exchange management as assigned by the NDSC

Importers, exporters, investors, and business owners are encouraged to consult the most current FESC guidelines and approval lists before conducting transactions in Myanmar.

For more details on these FESC composition developments, or on any aspect of financial regulations in Myanmar, please contact Tilleke & Gibbins at [email protected].