Issues lists on promoted sectors and restricted investment activities

The Myanmar Investment Commission (MIC) issued the list of Promoted Sectors (Notification No. 13/2017) on 1 April 2017 and the list of Restricted Investment Activities (Notification No. 15/2017) on 10 April 2017.

According to the Myanmar Investment Law, the income tax exemption depends on whether an investment is in a sector which the MIC designates as a Promoted Sector. In the new list, the Promoted Sectors includes: agriculture and its related services (except cultivation and production of tobacco and virginia), manufacturing (except manufacturing of cigarettes, liqueur, beer, and other harmful products to health), telecommunication businesses, education and health services and science research development business.

The new Restricted Investment Activities list is more detailed than the previous list of restricted investments issued in March 2016.

• Type:

  • Entry and establishment (Ownership and control)
  • Promotion and facilitation (Investment incentives)

• Industry:

  • Not industry specific

• Sources:

  • The Directorate of Investment and Company Administration, ANNOUNCEMENT ON NOTIFICATION OF LIST OF RESTRICTED INVESTMENT ACTIVITIES, http://www.dica.gov.mm/en/news/announcement-notification-list-restricted-investment-activities, 10 Apr 2017
  • The Directorate of Investment and Company Administration, Classification of Promoted Sector (Notification No. 13/2017), http://www.dica.gov.mm/sites/dica.gov.mm/files/document-files/promotedsector_notification_english-update_code.pdf, 01 Apr 2017
  • Berwin Leighton Paisner LLP, BLP's Myanmar postcard - Our top picks for April 2017, http://www.blplaw.com/expert-legal-insights/articles/myanmar-postcard-top-picks-april-2017, 02 May 2017