CNI News

20 October 2023

It was not effective to issue import EV permit to salary remitters depending on the amount of salary remitted, said businessmen and economic analysts.

There are a very few Myanmar citizens who can transfer 200,000 US dollars after one year of working abroad. 

So, Myanmar migrant workers would not be able transfer 50,000 US dollar within one year, said businessmen. When EV cars are imported, one car at a time cannot be easily imported.

 So, even though an EV import permit was got, it was not easy to import EV cars. If overseas workers were persuaded by way of tax relief, they could transfer their salaries to Myanmar, U Thet Zaw, an economic analyst, told CNI News.

US dollar

" The government has started their step to stop illegal remittance, I think. Those who are getting very outstanding salaries can transfer US$ 200,000 within one year. I don't think Myanmar workers in Thailand can transfer that much. They might not transfer even US$ 50,000 because a Myanmar worker in Thailand tries to get at least 400,00.0 to 500,000 kyats for his living cost a month. Better workers can get about 700,000 kyats a month. They can get 8,400,000 kyats a year. But US$ 50,000 is equal to 15,000,000 kyats. So, how can they transfer 15,000,000 kyats? But according to the statement, EV import permits depend on the amount of money transferred. If you transfer a large amount of money, you may get EV car import permit and if you transfer a small amount of money, you may get EV motorcycle import permit. There is a bit to think about how to import it. If you import EV through agent, you'll have pay for the agent. But the government can persuade overseas workers by way of tax relief." said U Thet Zaw.

An EV car charging station found in Yangon

If Myanmar citizens who are working abroad transfer US$ 200,000 or 50,000 and above to Myanmar through an official bank channel, they will be allowed to import an EV car or an EV motorcycle per year with the money that is equal to 5 percent of the money transferred, which the Ministry of Commerce has stated.

However, as there were a very few Myanmar citizens who could transfer the amount of money designated, it would not impact on the local car market, U Aung Pyae Sone, a car policy expert, told CNI News.

" It won't impact the local car market a lot. If a Myanmar citizen who is working abroad transfer US$ 200,000 to Myanmar, his salary must be 18,000 US dollars. There are many people whose salaries are 16,000 to 17,000 US dollars in many foreign countries. But among Myanmar citizens, those who get that amount are very rare. The people whose income is above 200,000 US dollars might not buy an EV car. The incentive that will allow to import an EV will not be effective, I think." said U Aung Pyae Sone.

In permitting the importation of electric motorcycles, if one cannot import an EV motorcycle because he cannot afford the value of vehicle, joint import with others will be allowed reportedly.