Enacts the new Investment Law

On 18 October 2016, the new Investment Law of Myanmar was enacted, which consolidates the Myanmar Citizens Investment Law and the Foreign Investment Law. Compared to the old legislation which required all investment proposals to obtain the permission of the Myanmar Investment Commission, the new law subjects only selected investment proposals to screening and authorization. The law also includes a list of activities, which are reserved for the State, as well as a list of activities where foreigners will need to set up joint-ventures with Myanmar citizens. In certain areas, such as market access, land lease and technical support, local businesses and SMEs would benefit from some special treatment compared to foreign investors. Investment incentives in the form of corporate tax holidays will be granted only to "promoted economic sectors" which will be specified in future legislation.

• Type:

  • Entry and establishment (Ownership and control, Approval and admission)
  • Treatment and operation (Operational conditions)

• Industry:

  • Not industry specific

• Sources:

  • The Directorate of Investment and Company Administration (DICA), Myanmar Investment Law (official translation), http://www.dica.gov.mm/sites/dica.gov.mm/files/document-files/myanmar_investment_law_official_translation_3-1-2017.pdf, 03 Jan 2017
  • Myanmar Times, New investment law will make it easier to do business in Myanmar: MIC, http://www.mmtimes.com/index.php/business/23104-new-investment-law-will-make-it-easier-to-do-business-in-myanmar-mic.html, 14 Oct 2016
  • Consult-Myanmar, Upper House approves investment bill, https://consult-myanmar.com/2016/10/07/upper-house-approves-investment-bill, 07 Oct 2016