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, […]

Businesses Urge Government to Ensure Careful Crafting Of new Investment Rules

Local businesspeople are optimistic that the country’s new investment law will help create a better environment for domestic and international investors. But the government needs to take care not to spoil the new legislation by making the ac The long-awaited Myanmar Investment Law passed through both houses of parliament last week. When it comes into force, local […]

New Investment Law Hailed as ‘Essential’ to Development

Business leaders have welcomed the approval of a new investment law that they hope will cut red tape and bring an end to concerns that foreign and local businesses are being treated differently. The Upper House approved the Myanmar Investment Law without amendments last week, and the legislation is due to come into effect in […]

Govt’s Foreign Investment Policy to be Released this Month

RANGOON – Foreign investment policy will be announced this month after President Htin Kyaw passes a revamped Myanmar Investment Law, according to secretary of the Myanmar Investment Commission (MIC) U Aung Naing Oo. Burma’s business community has been growing impatient waiting for details of foreign investment policy after criticizing the government’s 12-part overall economic policy […]

New Myanmar Subsidiary For Yoma

BRIEF: Yoma Strategic has formed a new Myanmar b– Pun Hlaing Lodge Hotel Management – to build a five-star hotel on the Pun Hlaing Estate. The new entity has US$75,000 in paid-up capital, consisting of 75,000 shares held entirely by Yoma Strategic, with approval from the Myanmar Investment Commission. Pun Hlaing Estate is a 652-acre luxury development that includes a […]

Upper House approves investment bill

The Upper House has approved the draft Myanmar Investment Bill from the Lower House. The bill states that foreign investors can hire land or buildings for 50 years. With the permission of the Myanmar Investment Commission, they can extend their contracts for 10-year periods. The new bill says the commission should seek the approval of […]

HK, South Korea eye clothing factories

Companies from Hong Kong and South Korea have submitted proposals to establish garment factories and whole industrial zones to the Myanmar Investment Commission. Now the MIC was discussing potential locations with regional governments, said committee secretary Aung Naing Oo. “It is still at the discussion stage. They will enter the country when we are ready. Currently, we are making sure that we can give land to them for factories. They will set up their factories at the places where the government specifies. They are most likely to get land for their factories in Yangon and Bago where there are jetties,” he added. The MIC said it hoped the factories would create job opportunities.  “We plan to establish industrial zones […]

MIC permitted eight enterprises including four garment enterprises

Myanmar Investment Commission (MIC) granted permission to eight enterprises including four garment enterprises, according to an announcement released by MIC. These permitted enterprises include manufacturing of garments under Cut-Make-Pack (CMP) system, manufacturing and marketing the corns, prawns and assorted snacks, sterilized, sweetened and condensed Milk, corrugated carton box and beautification corrugated carton box and cement, […]

No need to seek approval from MIC for investment except for businesses with environmental impact

Investment businesses are no longer required to seek approval from Myanmar Investment Commission (MIC) apart from the businesses needing environmental impact assessments. Those investment businesses can apply for registration at the Directorate of Investment and Company Administration (DICA) branches in the regions and states concerned. Currently, more DICA branches will be opened in Kayin State, […]

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 […]