Myanmar

Myanmar

Myanmar eased investment restrictions on foreign-local joint ventures

22 Nov 2016

On 22 November 2016, the Ministry of Commerce has revoked a ceiling on the amount of funds that a foreign-local joint venture trading firm can use in its operations. Foreign investors engaged in joint venture businesses with Myanmar companies will no longer have their expenditure limited to the initial sum they declared to the Myanmar's Central Bank. This removes the obligation to register any additional amounts of foreign currency required for investment purposes.