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 […]

Companies Act in Government’s Sights

Now that the Myanmar Investment Law has been passed by both houses of parliament, attention turns to the new Myanmar Companies Act, which senior business sector figures say will be key in improving corporate governance. The investment law, which will combine and replace the Foreign Investment Law and the Myanmar Citizens Investment Law, was passed by […]

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 […]

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 […]

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 […]

Three to seven year tax holiday period to be granted

TAX holidays will be granted for three to seven years, it has been learned. Authorities have been formulating a Myanmar Investment Law (Draft), which will grant tax exemptions to foreign direct investments excluding those made in Special Economic Zones (SEZs). The division of zones is based upon the development status of regions and states with […]