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 Will Make it Easier to do Business in Myanmar: MIC

With the new investment lawsailing through both houses of parliament this month, formal approval appears imminent, as a signature from the President’s Office is all that is required to see it passed. The Myanmar Timessat down with Myanmar Investment Commission secretary U Aung Naing Oo this week to discuss what the new law means for both […]

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 […]

Myanmar Investment Commission Allows 14 Foreign Firms to Invest US$ 278 Million In Myanmar

THE Myanmar Investment Commission decided to permit 14 foreign companies to invest US$ 278.958 million during its meetings on 23 September. The firms include 13 manufacturing firms and one transportation company. Their ventures will create 8,895 job opportunities, according to the Directorate of Investment and Companies Registration. In addition, the commission permitted the investment of […]

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 discusses nationwide extension of industrial zones

The Myanmar Investment Commission is discussing the nationwide extension of industrial zones with region and state governments and will invite new investors and developers, said Aung Naing Oo, the director-general of the Directorate of Investment and Company Administration. The MIC has already received proposals from companies in Hong Kong and South Korea for the establishment […]

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, […]