THE Yangon Region Gold En­trepreneurs Association issued a notice on 12 June, warning peo­ple not to sell gold online and using the methods of savings books, tally system, and draw­ing lots.

All gold entrepreneurs, gold shops and online gold sellers in Yangon Region are required to apply for gold shop-related licenses. A gold shop business needs to apply for a mineral (gold) trading service license, a business license from the Yangon City Development Committee, a precious metal (gold) trading business registration certificate, and a business registration cer­tificate issued to a manufacturer or trader or service provider.

Online licenses must be ap­plied for at the www.ecommerce. gov.mm website. In order to sta­bilize gold prices, gold shops are advised to open their shops daily, sell at a fixed price, and apply for the necessary licenses.

The YGEA has announced that effective action will be taken if instructions are not followed when relevant departments come to inspect. — MT/ZN