Investment Law Rules and Regulations Released by March

NAYPYIDAW — Rules and regulations for the newly enacted Myanmar Investment Law will be released in three months at the earliest and by the end of March next year at the latest, according to U Maung Maung Win, deputy minister of national planning and finance. The law, enacted by President U Htin Kyaw last week, […]

Lower house passes Myanmar’s long-awaited Investment Law

The lower house of parliament approved the Myanmar Investment Law yesterday, taking the long-awaited draft a step closer to becoming law. The legislation, which combines into one document the Myanmar Citizens Investment Law and the Foreign Investment Law, now moves to the upper house for consideration. The Myanmar Investment Commission (MIC) began working on a draft of the law […]

MIC to remain under ministry control

Myanmar’s new government will not allow the Myanmar Investment Commission to become an independent entity, but the MIC is planning to amend its policies to relax investment restrictions and direct more capital flows into manufacturing, its secretary U Aung Naing Oo has said. There have been discussions about an independent MIC for several years. U […]

Myanmar Investment Commission to Reform in June

RANGOON —The Myanmar Investment Commission (MIC) will be reformed this month in line with the Myanmar Investment Law, said Than Aung Kyaw, deputy director general of the Directorate of Investment and Company Administration (DICA). “Each MIC term is only three years, so it’s time for new members to be appointed,” he said. The commission, which […]

Parliament to Revisit Investment Laws in Final Session

Burma’s outgoing Parliament convened this week for its final session before surrendering their seats to newly elected lawmakers, aiming to make strides on investment reform. Lower House parliamentarian Khine Maung Yi told The Irrawaddy on Tuesday that this week’s agenda is set to include discussion of two new investment bills, meant to streamline and update […]

Investors in seized hospital appeal to MIC

A fierce row has broken out in Mandalay between the city’s development committee and developer City Man over the city’s seizure of the former Royal Rose hospital site. The company has sought help from the Myanmar Investment Commission to recover the land and the building, in Chan Aye Thar San township, which was seized on […]

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’s fast track to financial fruition

Much progress has already been made in Myanmar’s financial markets since the country’s liberalisation in 2011, and now it is on the brink of refining its banking laws and establishing the Yangon Stock Exchange. Myanmar’s financial sector is starting to gain the characteristics that make it look like a newly emerging market, as opposed to […]

New investment law unlikely to be enacted this year

Parties involved in the drafting of the new investment law are willing to thoroughly review legal content, even though the process may delay the enactment to next year. Until March 26, the opinions of civil society organisations, local and foreign investors are being sought for the consolidation of two investment laws – Myanmar Citizens Investment […]

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. […]