No automatic tax breaks under new law

Companies investing through the Myanmar Investment Commission will no longer automatically receive a five-year tax break, but will be granted exemptions based on the nature of the project and its geographic location, MIC secretary U Aung Naing Oo said yesterday. The changes will come into effect when the new Myanmar Investment Law is passed, he […]

MIC issues ‘ominously broad’ foreign investment restriction

A directive issued at the end of March by the Myanmar Investment Commission has added an additional layer of complexity for foreign investors and granted ministries greater scope to make exceptions on a case-by-case basis. The notification – designated 26/2016 – adjusts the list of economic activities that require a joint venture under the Foreign Investment Law. In […]

MIC forecasts Mandalay foreign investment boom

Foreign direct investment to Mandalay Region will boom within two or three years, as a number of ambitious projects launch and connectivity improves, according to Myanmar Investment Commission secretary U Aung Naing Oo. Mandalay Region is currently in ninth place for foreign direct investment, receiving less than 10 percent of capital inflows, he said at […]

US Business Delegation to Arrive After Election: UMFCCI

RANGOON — A delegation of some 80 US business representatives is set to arrive in Rangoon late this year, according to an official from Burma’s chamber of commerce, on the heels of a landmark general election to be held in November. Maung Maung Lay, vice chairman of the Union of Myanmar Federation of Chambers of […]

Incentives to be built in to investment law

The combined investment law will have built-in incentives for priority areas and sectors, according to U Aung Naing Oo, director general of the Directorate of Investment and Company Adminstration. Myanmar previously had two separate investment laws, the Foreign Investment Law and the Myanmar Citizens Investment Law. Yet experts have recommended combining the two, and Myanmar […]

Myanmar Recruiters Optimistic, Economy Thriving: Survey

Active and vigorous recruitment in Yangon is likely to provide many opportunities to job seekers, according to the MyJobs Employer’s Survey. Employers in Yangon report strong hiring intentions this year, reporting the most aggressive recruitment plans in the last three years. MyJobs, a leading recruitment company since 2012, questioned 84 employers, human resource professionals and […]

Investment laws re-considered

The government has begun accepting public feedback on a proposed amalgamation of two investment laws that it says will give equal opportunities to both domestic and foreign firms. The Directorate of Investment and Company Administration launched the public consultation window yesterday and will accept feedback on the draft of Myanmar Investment Law until March 26. […]

Myanmar kicks off investment law modernisation

Until March 26, the Myanmar government will welcome civil society consultations on a new investment law, which will combine the Myanmar Citizens Investment Law and the Foreign Investment Law. Titled “The Investment Law of the Republic of the Union of Myanmar”, the law was drafted in cooperation with the World Bank’s financial arm, the International […]

Protecting profits over people

Myanmar is in the process of formulating an investment law and a land use policy that when combined will lay the foundations of development for the country. As it stands, these proposed instruments could have an adverse impact on human rights, and in particular land rights. With these texts being shaped by international financial institutions […]

DICA confident of hluttaw approval on combined investment law

A planned amalgamation of two of Myanmar’s investment laws is set to proceed smoothly ahead of the ASEAN Economic Community in 2015, making it easier for both foreign and local investors to conduct business under a more modern and comprehensible framework, a senior government said. The current rules, which are set under the 2012 Foreign […]