Attorneygeneral lawauditorgeneral lawlaw amending the myanmar red cross society act, 1959adaptation of expressions lawunion of myanmar foreign investment law. Regulation and protection of investment in myanmar chapter 4. Foreign direct investment and economic transformation in myanmar 2 ii. Myanmar investment law burmese version18102016 approved 1. Myanmar laws1990 is under arrangement for publication in the near future. Myanmar continued to strive for attracting foreign investment into the country in the current 201718 fiscal year which began in april. On 28 march 2014 the myanmar government introduced a number of important changes to myanmars tax regime. Analyzing myanmars new foreign investment law asean. Revision of myanmar foreign investment law 2011 the government announced to make revisions in the foreign investment law fil which was originally issued in 1988. Use similar mechanisms to attract diaspora entrepreneurs back to myanmar.
Support labour circulation to enable skilled and experienced employees of foreign firms in myanmar to set up their own enterprises, via mechanisms to assist access to finance and land. It was the first decline in international inflows since the 201220 fiscal year. Myanmars upcoming new companies act and revised foreign investment law. Foreign investment overview for myanmar myanmar 2016. The mil was drafted by the myanmar investment commission mic in consultation with the international finance. Subhashish chattopadhyay skm classes bangalore useful for i. Foreign investors will be entitled to income tax exemption for a period of 5 consecutive years as compared to 3 years under the previous law, although the myanmar investment commission the mic. Law and policy 24 march 2016 faculty of law, national university of singapore bukit timah campus programme thursday, 24 march 2016 8. Ds also carried out numerous interviews with relevant actors in myanmar, as well as undertaking a mission to the country in late june. Myanmar foreign investment laws and companies law youtube.
Myanmar foreign investment rules linkedin slideshare. Condominium law foreign investment in myanmar proposed amendments for those who follow our blogs, you will know that we have reported several times on the discussions relating to the proposed condominium law in myanmar. Foreign investment framework the myanmar foreign investment law 2012 fil was enacted on 2 november 2012 and updated the previous myanmar foreign investment law 1988. Factors affecting inward foreign direct investment.
The union of myanmar tax law 2014 2014 tax law, effective from 1 april 2014, introduced a number of changes to income tax and commercial tax rates in myanmar. Foreign investment rules and mic notification issued on. The myanmar legislature enacted the myanmar investment law the mil late last year. The relevant regulatory authority under the fil is the myanmar investment commission mic which functions under the direct control of the myanmar union government board. The dica has invited submissions from interested parties in relation to the 2015 myanmar foreign investment law and has made a draft available on its website. The directorate of investment and company administration dica is drafting the 2015 myanmar foreign investment law with the assistance of the international finance corporation. During the first four months of the fiscal year up to july, 3. Foreign direct investment policy myanmars foreign direct investment policy is a component of the overall restructuring and development policy of the government. In 2012, the myanmar kyat was floated and a foreign investment law enacted to facilitate growth and attract foreign investment. Investment promotion and facilitation in myanmar chapter 5. The newly enacted myanmar investment law was tentatively welcomed by dr soe tun, vice chairman of the myanmar rice federation. It contains the full text of the laws and offers userfriendly tools for searching and filtering for selected provisions that are specifically relevant to foreign investors. Through these laws, foreign investors may choose to establish a foreign branch office in myanmar. Myanmar laws 1990 is under arrangement for publication in the near future.
Foreign investment by country directorate of investment. The investment law, which passed the lower house of myanmar s legislature on september 28 th and the upper house on october 5 th, was signed by president htin kyaw on october 18 th and represents further liberalization of the southeast asian nations foreign investment laws and rapidly changing economic environment. The myanmar times sat down with myanmar investment commission secretary u aung naing oo this week to discuss what the new law means for both foreign and local. The directorate of investment and company administration dica has issued a consultation draft of the rules under the myanmar investment law 2016 mil. In particular, the new fil provides for more flexible shareholding ratios for joint ventures between local and foreign.
Condominium law foreign investment in myanmar proposed. The mil repealed the 2012 foreign investment law the fil. The current foreign investment law and citizen investment lawknown together as the myanmar investment lawwere enacted in october by president u htin kyaw. Based on data for actual and approved foreign direct investment fdi from 19892011, this paper explores the major trends in fdi in myanmar, focusing on changes over time in the source and sector of investment. The muchimproved draft goes a long way toward protecting the rights of people and the environment in myanmar from foreign investments that may create and. Myanmars investment outlook for 2018 asean business news. Combines the foreign investment law 2012 and the citizens investment law 20 proposals under the new law submitted since april 2017 distinguishes between citizen investor and foreign investor citizen investor includes enterprises established only by citizens which is at odds with the draft of the new companies law. The special economic zones law of 2014 provides further incentives for foreign investors looking to enter myanmars. The new fil makes some significant changes to the previous version of the law which was passed in 1988 the old fil. Dica to consolidate myanmar foreign investment law and. The investment laws navigator is a comprehensive and regularly updated collection of national investment laws.
The mic has broad powers to implement the objectives of the. A newly drafted investment law much awaited by investors eager to access myanmars market has been completed and will be submitted to the hluttaw photo at its next session. With the new investment law sailing through both houses of parliament this month, formal approval appears imminent, as a signature from the presidents office is all that is required to see it passed. Puii apmaths igcse ib apmathematics, state board or high school exams, college math exams and other exams. Kpmg in myanmar your investment resource for thailands. Moreover, it translated laws into english and published in three volumes as myanmar laws 19881989, myanmar laws 1997 and myanmar laws 19981999. Iitjee main and advanced, cbse standard 12 math survival guidedefinite integral by prof. Since we produced the first edition of this myanmar investment guide in 2012 and the second edition of this myanmar investment guide in 2014, foreign investment in myanmar has increased dramatically. Puchniak, director centre for asian legal studies faculty of law, national university of singapore. The draft law combines elements of the myanmar companies act of 1914 and the special companies act of 1950, reworked in hopes of attracting foreign investment, said deputy minister for planning and finance u maung. He claimed that the law gives equal rights for local and foreign investors and that he is waiting to.
Myanmar laws 19881989, myanmar laws 1997 and myanmar laws 19981999. Naypyitaw the myanmar government submitted a draft of the new myanmar companies law to the upper house on thursday. Myanmar foreign investment law implementing rules table of contents prohibited activities joint ventures restricted activities procedural information on 31 january, 20 the ministry of national planning and economic development of myanmar released new detailed regulations to augment the 2012 myanmar foreign investment law fil. This issue myanmar laws2000 is theconinuation of the publication mentioned above. Myanmar update on foreign investment baker mckenzie. August, 2012 the amended bill new fil was approved by the house of representatives the lower house of the assembly of the union september,2012. This is the law that, if passed, will allow foreign ownership of land and property.
Investment laws navigator unctad investment policy hub. Myanmar investment guide, 3rd edition herbert smith. Section 1 includes definition of terms used in the law as laid out in section 2, the main objectives of the law are to train students to become critical thinkers. The law created incentives for investors to get involved in certain business sectors that the government had targeted for development. Myanmar state media details new foreign investment law. Why myanmars revised foreign investment law is over. Ministry of investment and foreign economic relations mifer. Adoption of marketoriented system for the allocation of resources encouragement of private investment and entrepreneurial activity. Soepaing said the proposed foreign investment law revisions were likely to have a positive effect on foreign investment in the country. Nothing unworkable had been suggested and some changes, such as allowing foreign shareholders and directors, would make direct investment in myanmar companies easier, he said. The oil and gas sector attracted the biggest investment last fiscal year, followed by. Since sanctions were lifted in 2012, economic growth in myanmar has been on a steady rise in no small part to foreign direct investment which rose to. Myanmar promulgated the long anticipated new foreign investment law the new fil when president u thein sein signed the bill on 2 november 2012.
A new investment law to supersede the foreign investment law of 2012 and myanmar citizens investment law of 20 took effect in april 2017, helping to level the playing field between local and foreign investors. In 2012, it established a managed float of the burmese kyat to stabilise the currency, and rewrote the countrys foreign investment law. Burma union of exporter guide myanmar exporter guide 2017. Download alert legal alert 19 january 2017 update on foreign investment in the last week, two important matters have occurred which are relevant to foreign investment in myanmar. Myanmar itself has undergone a period of rapid economic growth and of political change. Research report e 2014 myanmars investment treaties. Myanmar companies act and enterprises formed in accordance with the laws of any other country are also included. By kyaw win tin foreign direct investment fdi is an investment made by a company or individual in one country in business interests in another country, in the form of either establishing business operations or acquiring business assets in the other country such as ownership or controlling interest in a foreign company. The new myanmar investment law 2016 mil came into force on 18 october 2016, when it was signed by the president, having previously been approved by the pyithu hluttaw on september 28 2016 and the amyotha hluttaw on 5 october 2016. Pdf the role of foreign direct investment fdi in myanmar. Foreign investors who wish to undertake specific business activities in myanmar may rely on the foreign investment framework available under the myanmar companies act, the 2012 myanmar foreign investment law and the 2014 sez law. This issue myanmar laws 2000 is theconinuation of the publication mentioned above.
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