MIC to Prioritise Needy Townships

​​ Under the new Myanmar Investment Law, investment promotion plans will identify zones 1, 2 and 3 to prioritise the townships most in need, according to the Directorate of Investment and Company Administration under the Ministry of Planning and Finance. For income tax exemption under the new law, underdeveloped regions are designated as zone 1, the regions with moderate development zone 2 and developed regions zone 3. With government approval, the Myanmar Investment Commission (MIC) may give income tax exemption to zone 1 investors for seven consecutive years, zone 2 investors for five years and zone […]

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 […]

China tops investor list

China is the top investor in Myanmar so far this year, according to the Directorate of Investment and Company Administration. Until the end of October, total foreign investments exceeded US$50 billion, of which US$40 billion is operating in the country. Myanmar Investment Commission (MIC) is giving the green light to local and foreign companies in […]

Kyaukpyu SEZ looks for interest from builders

Expressions of interest (EOI) for firms aiming to bid on constructing a special economic zone in Rakhine State are slated to be issued later this month, according to officials involved in the project. The EOIs for the Kyaukpyu Special Economic Zone will be made available on July 14 with a submission deadline of August 11. […]