The republic of the union of myanmar pyidaungsu hluttaw. Naypyitaw the myanmar government submitted a draft of the new myanmar companies law to the upper house on thursday. 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 role of foreign direct investment fdi in myanmar. Yangon region investment committee yric is the investment approval agency for investment enterprise according to the myanmar investment law in yangon region. Pdf the effect of myanmars foreign investment policies on fdi.
The investment law adopts international standards to protect investors compensation for expropriation employment the 2012 foreign investment law and the 20 myanmar citizens investment law have been merged and upgraded into one combined investment law. Myanmar companies law english and burmese version from dica pdf 1. 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. This month has marked some significant milestones for myanmar also known as burma which. Myanmars investment outlook for 2018 asean business news. In particular, the new fil provides for more flexible shareholding ratios for joint ventures between local and foreign. 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. Section 57 of the new law repeals the foreign investment law of the union of myanmar 1988 1988 fil. Foreign investment overview for myanmar myanmar 2016. Currently, myanmar has myriad sectoral, ministerial and subnational plans. The mcl was drafted by the department of investment and company administration dica of the ministry of national planning and economic development with the assistance of the asian development bank. There is no single definition of what constitutes foreign investment. 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.
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. Myanmar is in the midst of rapid economic and social change, with dramatic consequences for land tenure. New myanmar foreign investment law enacted charltons. Myanmar to release new investment law by next year investvine. Foreign investment law of myanmar1988 burma library. Evaluation of the new foreign investment law in myanmar. Sd thein sein president republic of the union of myanmar.
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. Foreign investors who invest and operate on equitable principles would be given the right to enjoy appropriate economic benefits, to repatriate. What changes in practice under the new investment law. This page provides the latest reported value for myanmar foreign direct investment plus. The fil replaces the previous foreign investment law of 1988 1988 law and ushers in policies and. Mar 01, 2017 myanmar companies act and enterprises formed in accordance with the laws of any other country are also included.
Regulation and protection of investment in myanmar chapter 4. The republic of the union of myanmar pyidaungsu hluttaw foreign investment law pyidaungsu hluttaw law no. Now soon to be in force, we outline what changes in practice. Investor means a myanmar citizen investor or foreign investor who invests within the union in accordance. A foreign investor may apply for and obtain a permit under the foreign investment law for an economic activity.
Investment and taxation ibfd book pdf free download link book now. Myanmar is still a highrisk country, requiring a rigorous responsible investment strategy. Charltons accepts no responsibility for its completeness andor accuracy. Commission means the myanmar investment commission formed under this law c. Myanmars investment outlook for 2019 asean business news. The amended foreign investment law the law of the union assembly no. The myanmar sustainable development plan msdp is the expression of our national development vision a vision that finds resonance in the global sustainable development agenda.
Investment promotion and facilitation in myanmar chapter 5. The law, enacted recently, combines the myanmar citizens investment law and the foreign investment law. Voices for mekong forest the foreign and citizens investment law aims to encourage foreign investment to mobilize the natural resources of the country and to promote development of technology. Myanmar promulgated the long anticipated new foreign investment law the new fil when president u thein sein signed the bill on 2 november 2012. This site is like a library, you could find million book here by using search box in the header. Foreign investment by country directorate of investment. Myanmar update on foreign investment baker mckenzie. Fdi inflows distribution by industry 2018 statista. This law shall be called the foreign investment law.
Oct 19, 2016 we use your linkedin profile and activity data to personalize ads and to show you more relevant ads. Foreign direct investment in myanmar increased by 734. Specific legal advice should be sought in relation to investment in myanmar. Sep 11, 2019 yangon region investment committee yric is the investment approval agency for investment enterprise according to the myanmar investment law in yangon region. Myanmar investment guide 2018 directorate of investment and. Fet is among the most farreaching, and widely criticized, investor rights that investment treaties grant to foreign investors. Does your company have investments or operations in myanmar or is it seriously considering investing or operating there. 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. The investment challenges in a context where the economy is still dominated by the interests of the military and their connected crony businessmen are obvious.
All books are in clear copy here, and all files are secure so dont worry about it. The information in this book give insights into the business opportunities that exit in myanmar and the practical steps that need to be taken to bring them to fruition. Union government means the union government of the. Vdb loi new 2012 myanmar foreign investment law now in. Myanmar, which passed a new foreign investment law in 2012, is widely. Now available for download, the vdb loi translation of the 2012 myanmar foreign investment law law nr. Member firms of the kpmg network of independent firms are. International investment law understanding concepts and. Foreign investment law and myanmar investment law 2016. Myanmars upcoming new companies act and revised foreign investment law. Myanmar companies act and enterprises formed in accordance with the laws of any other country are also included.
Nov 01, 2016 the law, enacted recently, combines the myanmar citizens investment law and the foreign investment law. Myanmar foreign investment tracking project the unofficial myanmar language translation of this response is available here 1. For example, aside from the myanmar investment law 2016, no asean investment law guarantees investors fair and equitable treatment fet. Myanmar myanmar investment law investment laws navigator. Foreign investors can now hold up to 35 percent of shares in a local company. International investment agreements usually define investment. Myanmar investment law burmese version18102016 approved 1. Charltons does not currently advise on the law of myanmar. The new law is set to be implemented by august 2018. Dec, 2012 the fil replaces the previous foreign investment law of 1988 1988 law and ushers in policies and provisions aimed at encouraging foreign investment for the purposes of jumpstarting the development of the wealth, infrastructure and productivity in myanmar.
The myanmar citizens investment law the state law and order restoration council law no. Aug 01, 2018 naypyitaw the myanmar government submitted a draft of the new myanmar companies law to the upper house on thursday. On 2 november 2012, president thein sein signed into law myanmars new foreign investment law the new fil, replacing the previous union of myanmar foreign investment law of 1988. Here is the collection of books shared by many vistors by online and by post. 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 investment law burmese version18102016 approved. Attorneygeneral lawauditorgeneral lawlaw amending the myanmar red cross society act, 1959adaptation of expressions lawunion of myanmar foreign investment law. The mic has broad powers to implement the objectives of the. 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. Ministry of investment and foreign economic relations mifer en. 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 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. It was the first decline in international inflows since the 201220 fiscal year. Liberalization of the education sector, and wholesale and retail trade for foreign companies and joint venture companies have been implemented with the new legislation.
Foreign direct investment and economic transformation in myanmar 3 acronyms cmp cutmakepack cso central statistical organisation dica directorate of investment and company administration dtt double taxation treaty fdi foreign direct investment fil foreign investment law fob free on board gdp gross domestic product. The union of myanmar foreign investment law the state law and order restoration council law no. Myanmar investment guide 2018 directorate of investment and company administration. 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. The graph shows the distribution of foreign direct investment fdi inflows in myanmar in 2018, broken down by industry. Foreign direct investment policy myanmars foreign direct investment policy is a component of the overall restructuring and development policy of the government. I hereby sign under the constitution of the republic of the union of myanmar.
The new fil makes some significant changes to the previous version of the law which was passed in 1988 the old fil. 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 myanmar citizens investment law the state law and. We would like to show you a description here but the site wont allow us.
Article pdf available september 20 with 1,155 reads. Adoption of marketoriented system for the allocation of resources encouragement of private investment and entrepreneurial activity. Market participants in myanmar are querying the validity of an alleged new draft of myanmars foreign investment law, obtained and leaked by reuters last week, and have branded the significance of the proposed changes as overhyped. In 2018, myanmar enforced a new companies law to ease local investment opportunities. May 03, 20 on 2 november 2012, president thein sein signed into law myanmars new foreign investment law the new fil, replacing the previous union of myanmar foreign investment law of 1988. Myanmar investment guide 2018 directorate of investment.
Withholding tax wht with effect from 1 april 2017 the payer has the legal obligation to deduct wht from payments that are subject to wht, regardless of whether the income recipient has agreed to the deduction or not. Why myanmars revised foreign investment law is over. Myanmar to release new investment law by next year. Myanmar foreign direct investment 20122019 data 2020. Pdf the role of foreign direct investment fdi in myanmar. Normally it takes at least three months to release rules and regulations following a law, maung maung win said. 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. Through these laws, foreign investors may choose to establish a foreign branch office in myanmar. If there is a delay, we will finish by the end of this fiscal year, at the end of march, he added. 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 union of myanmar foreign investment law 1988 statement on foreign investment law of myanmar the government of the union of myanmar has been striving hard to promote all round development of national economy to improve provisions of food, clothing and shelter for the people so as to ameliorate their living standards. 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. In the current reform process, smallholders are reclaiming their legal land rights at the same time that foreign investment is flooding the country, placing all previous land use arrangements under increasing pressure.
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