Section 47 of the 2016 law requires the myanmar government to offer treatment to foreign investors and their businesses in myanmar that is no less favourable than that offered to. Dica to consolidate myanmar foreign investment law and. In april 2017, myanmar will begin implementing a new investment law designed to promote and facilitate both foreign and domestic investment in the economy and open more economic sectors to. The following expressions contained in this law shall have the meanings given. We would like to show you a description here but the site wont allow us. The objective of the study is to examine the role of foreign direct investment fdi and the situation of fdi flows in myanmar. Myanmar burma human rights report 2020 myo aung myanmar. Myanmar update on foreign investment baker mckenzie. The myanmar investment law 2016 mil was enacted to replace the foreign investment law 2012 and the myanmar citizens investment law 20 on 18th october 2016. Regulation and protection of investment in myanmar chapter 4. The myanmar government has begun the process of drafting a new myanmar foreign investment law 2015 fil which will consolidate the existing 2012 myanmar foreign investment law 2012 fil and the 20 myanmar citizens investment law.
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 businesses and how the. Union government means the union government of the. Myanmar state media details new foreign investment law. Investor means a myanmar citizen investor or foreign investor who invests within the union in accordance with the law. Foreign investment law burmese and english myanmar law.
The directorate of investment and company administration dica. Myanmar the investment law of 2015 consolidating and replacing the myanmar citizens investment law, pyidaungsu htluttaw law no. Around 69% of fdi in myanmar goes to a limited number of sectors that are. Aug 01, 2018 naypyitaw the myanmar government submitted a draft of the new myanmar companies law to the upper house on thursday. Myanmar investment law burmese version18102016 approved 1,812 views. The study was based on secondary data source of myanmar over the. Take note that this video on investment opportunities in myanmar is now obsolete with the introduction of the new myanmar investment law.
This was replaced by the myanmar investment law in 2016 so as to combine the regulation of both foreign and domestic investments under one set of laws. This law shall be called the union of myanmar foreign investment. Pdf the role of foreign direct investment fdi in myanmar. 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 businesses and how the mic plans to. The newly enacted myanmar investment law was tentatively welcomed by dr soe tun, vice chairman of the myanmar rice federation. However, bylaws implementing the new mil have not been issued yet and as such the rules issued under the old myanmar foreign investment law continue to be in effect to the extent that they are not contrary to the new mil. In 2016, the foreign investment law and the citizens investment law were replaced by. 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. The following expressions contained in this law shall have the meanings. For example, aside from the myanmar investment law 2016, no asean investment law guarantees investors fair and equitable treatment fet. He claimed that the law gives equal rights for local and foreign investors and that he is waiting to see how the government manages foreign investment.
Considered by many to be one of the last economic frontiers, myanmar has been the object of investor interest for the past three years. Myanmar foreign investment law implementing rules charltons. Myanmar investment opportunities what you need to know. Foreign direct investment and economic transformation in myanmar 2 ii. Myanmar myanmar investment law investment laws navigator.
Puchniak, director centre for asian legal studies faculty of law, national university of singapore. Use similar mechanisms to attract diaspora entrepreneurs back to myanmar. Myanmar investment law burmese version18102016 approved. Myanmar investment law directorate of investment and. Myanmar to delay law that would have allowed more foreign. 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. Commission means the myanmar investment commission formed under this law c. This law shall be called the foreign investment law. A revised draft of the myanmar companies law was approved by. In 2017, the century old companies law was substantially revised.
Myanmar investment law the pyidaungsu hluttaw law no. May 03, 20 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. The new investment law enacted on 18 th october 2016 combines the foreign investment law 2012 and the. Myanmar foreign direct investment 20122019 data 2020. Update on foreign investment in the last week, two important matters have occurred which are relevant to foreign investment in myanmar. Explore the data the highest profile examples of land investment are three special economic zones sezs, funded by japanese, thai, and chinese companies respectively. Jun 28, 2017 myanmar announces 10 prioritized areas for investment june 28, 2017 by thiha yangon, june 28 xinhua myanmar investment commission mic has announced 10 areas which will be prioritized for investment by both local and foreign entrepreneurs, myanmar news agency reported wednesday.
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. Adoption of marketoriented system for the allocation of resources encouragement of private investment and entrepreneurial activity. Foreign direct investment policy myanmars foreign direct investment policy is a component of the overall restructuring and development policy of the government. It was the first decline in international inflows since the 201220 fiscal year. Foreign direct investment in myanmar increased by 734. In 2016, burma passed the myanmar investment law mil to attract more investment from both foreign and domestic businesses. The mil simplified the rules and regulations for investment to bring burma more in line with international standards. 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. The condominium law, for the first time, allows foreign nationals to legally purchase condominiums in myanmar. The foreign investment law the pyidaungsu hluttaw law no 212012 the 3rd waning of thadingyut, 74 me 2nd november, 2012 the pyidaungsu hluttaw hereby enacts this law. The new law is set to be implemented by august 2018. Home law library laws and regulations laws myanmar laws 1988until now union solidarity and development party laws 20122016 myanmar laws 2012 pyidaungsu hluttaw law no.
The myanmar citizen investment law and myanmar foreign investment law have been repealed with effect from 18 october 2016. Law and policy 24 march 2016 faculty of law, national university of singapore bukit timah campus programme thursday, 24 march 2016 8. Oct 19, 2016 myanmar investment law burmese version18102016 approved 1. In october 2016, the two houses of parliament in myanmar passed the new myanmar investment law, which effectively merged the myanmar citizens investment law enacted in 20, which governs investment by locals, and the foreign investment law enacted. The taxable capital gain is calculated based on the difference between the sales proceeds and the cost of the asset, less the accumulated tax depreciation allowed under the myanmar income tax law. Foreign investment overview for myanmar myanmar 2016. Mar 01, 2017 myanmar investment law the pyidaungsu hluttaw law no. Naypyitaw the myanmar government submitted a draft of the new myanmar companies law to the upper house on thursday. Oct 14, 2016 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.
Jun 03, 2016 the condominium law, for the first time, allows foreign nationals to legally purchase condominiums in myanmar. Oct 27, 2016 the 2016 law also enshrines the national treatment standard for foreign direct investment in myanmar. Investment promotion and facilitation in myanmar chapter 5. In addition, the government revised myanmars investment law that serves to bring the countrys investment law under one regulatory roof by combining the myanmar citizen investment law and the myanmar foreign investment law. The investment law of 2015 online burmamyanmar library. The regulations are comprised of two separate notifications, notification 120 and notification 1120 together the investment rules. Home law library laws and regulations laws myanmar laws 1988until now union solidarity and development party laws 2012 2016 myanmar laws 2012 pyidaungsu hluttaw law no. Burma law times 19071920 indian law reports rangoon series 19231937 burma law journal 19221927 all india reporter, rangoon 19231937 rangoon law reports 19371942. New investment law helps myanmar rebuild its economy and.
Economic growth is priority, asia times, 29 march 2016 4 tourism ministry aims for 6 million visitors, myanmartimes, 26 march. Section 47 of the 2016 law requires the myanmar government to offer treatment to foreign investors and their businesses in myanmar that is no less favourable than that offered to myanmar nationals. This page provides the latest reported value for myanmar foreign direct investment plus. 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. In april 2017, myanmar will begin implementing a new investment law designed to promote and facilitate both foreign and domestic investment in the economy and open more economic sectors to private investment. Dica to consolidate myanmar foreign investment law and myanmar citizens investment law. The rights for myanmar to impose capital gains tax on nonresident investors are limited in several of myanmars income tax treaties. Foreign investment law of 2012, only the myanmar investment commission mic is. The new fil makes some significant changes to the previous version of the law which was passed in 1988 the old fil. Title and definition article 1 this law shall be called the myanmar investment law. Myanmars investment outlook for 2018 asean business news. This law shall be called the myanmar investment law. Myanmar foreign investment law was issued in 2012 to promote and regulate foreign investments.
Approved date published by name of authority printed date. In particular, the new fil provides for more flexible shareholding ratios for joint ventures between local and foreign. Companies with foreign ownership below a harmful threshold rule 4 b. Total foreign ownership in any one project, however, is limited to 40 percent of. Myanmar investment law reform asiapacific research and. Key points to note background 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. Fet is among the most farreaching, and widely criticized, investor rights that investment treaties grant to foreign investors. Financial institutions law2016 central bank of myanmar. 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. The 2016 law also enshrines the national treatment standard for foreign direct investment in myanmar. Yangon myanmar will delay a longawaited reform that would open the door further to foreign investment, two officials told reuters, a move likely to disappoint cashstarved businesses amid growing doubts over the management of the economy by the countrys leader, daw aung san suu kyi.
The directorate of investment and company administration dica has issued a consultation draft of the rules under the myanmar investment law 2016 mil. Myanmar announces 10 prioritized areas for investment june 28, 2017 by thiha yangon, june 28 xinhua myanmar investment commission mic has announced 10 areas which will be prioritized for investment by both local and foreign entrepreneurs. Myanmars new foreign investment law allows overseas firms to fully own ventures and offers tax breaks and lengthy land leases, state media said on saturday, releasing details of legislation. On 30th march 2017, the ministry of planning and finance, therefore, published the myanmar investment rules mir under the myanmar investment law 2016 mil as notification no. The mil was drafted by the myanmar investment commission mic in consultation with the international finance. The mil was drafted by the myanmar investment commission mic in consultation with the international finance corporation ifc and combines local. Myanmar promulgated the long anticipated new foreign investment law the new fil when president u thein sein signed the bill on 2 november 2012.
1342 950 1308 976 1349 1381 920 1238 1075 465 1302 527 347 860 721 1153 1040 295 720 471 930 1163 1110 1467 1467 400 1088 1174 1247 638 1424 1307 384 109 1296