Myanmar Investment Law to be enacted soon, says DICA director

A draft of the long-awaited Myanmar Investment Law has been submitted to parliament and will be passed soon, bringing a more strategic and nuanced approach to tax exemption in addition to simplifying investment, according to U Aung Naing Oo of the Directorate for Investment and Company Administration (DICA). “We have already put the bill to […]

New Myanmar investment law is the ‘right move’

INTERNATIONAL lawyers have welcomed Myanmar’s new investment law, saying it will create a better investment environment for both local and foreign investors once enforced. Jo Daniels, managing partner of Baker & McKenzie Myanmar, said at a media roundtable that the new law could be one of Myanmar’s most significant legal reforms once approved by the […]

Myanmar Investment Commission to delegate power to state authorities

The laws will be changed to allow the Myanmar Investment Commission to delegate power to regional authorities, said Daw Le Le Thein, deputy minister for National Planning and Economic Development who put forward the bills. “The intention is to share the mandate with regional governments,” she said, adding that if foreign investments can be approved […]

SCCP to invest in three-star hotel project

Singapore-based SCCP Lakeside Co will invest in a three-star hotel project in Hlaing Township in Yangon. Myanmar Investment Commission (MIC) gave the green light to the company on April 10, after approval by respective regional and government ministries. At the meeting, the MIC also granted approval for a 14-storey hotel project which will be run […]

Myanmar honing investment laws to ensure a level playing field for all, minister says

Myanmar is drafting several laws and regulations to create a more level playing field and more favourable investment climate. Set Aung, deputy minister of national planning and economic development and vice governor of the Myanmar Central Bank, told the recent Myanmar Global Investment Forum in Nay Pyi Daw that the foreign investment law was amended […]

India Sun Pharma eyes investing in Myanmar

Sun Pharma, a global pharmaceutical company headquartered in Mumbai, has discussed plans to invest in Myanmar during meetings with authorities in Nay Pyi Taw on June 25, according to the Ministry of National Planning and Economic Development. Sun Pharmaceutical Industries Ltd is one of the biggest pharmacy companies in India, manufacturing 500 kinds of products […]