MATI Slams MMA for Ignoring Concerns in New Foreign Exchange Regulations
MATI criticized the MMA for implementing amendments to the Foreign Exchange Regulations without addressing concerns raised by the tourism industry. The amended regulations, ending a 37-year-old rule, require tourism businesses to exchange fixed amounts: US$500 per tourist for resorts and larger hotels, and US$25 for guesthouses. MATI believes more extensive discussions were needed before such a significant policy change.
MATI criticized the MMA for implementing amendments to the Foreign Exchange Regulations without addressing concerns raised by the tourism industry. The amended regulations, ending a 37-year-old rule, require tourism businesses to exchange fixed amounts: US$500 per tourist for resorts and larger hotels, and US$25 for guesthouses. MATI believes more extensive discussions were needed before such a significant policy change.
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MATI criticized the MMA for implementing amendments to the Foreign Exchange Regulations without addressing concerns raised by the tourism industry. The amended regulations, ending a 37-year-old rule, require tourism businesses to exchange fixed amounts: US$500 per tourist for resorts and larger hotels, and US$25 for guesthouses. MATI believes more extensive discussions were needed before such a significant policy change.
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