Articles
30
Aug
2019
Myanmar Passes New Law for Land Acquisition, Resettlement and Rehabilitation
On 19 August 2019, the Union Parliament of Myanmar, Pyidaungsu Hluttaw, enacted Land Acquisition, Resettlement and Rehabilitation Law (Pyidaungsu Hluttaw Law No. 24/2019) to replace the colonial-era Land Acquisition Act (1894) as well as to provide a legal framework for resettlement and rehabilitation for the first time in Myanmar. Highlights of this note Overview What’s […]
31
May
2019
Change of the Income Year in Myanmar: What Do Companies Need to be Aware of?
On 28 May 2019, the Internal Revenue Department (“IRD”) of the Ministry of Planning and Finance (“MOPF”) announced a change to the income year (formerly from 1 April to 31 March) of private and cooperative sectors (“taxpayers”) to 1 October to 30 September, effective from 1 October 2019. As a result, the taxpayers will have a […]
22
Mar
2019
Second chance to re-register your company before being struck off the registry
According to the recent Directorate of Investment and Company Administration (“DICA”) announcement issued on 8th March 2019, companies who missed the 31 January deadline now have until March 30 to re-register. However, any companies who fail to re-register by this new deadline will be struck off from the registry, and will not be able to […]
30
Nov
2018
PFI: “Myanmar Reforms Sparks Major Projects Pipeline” (VDB Loi Insights)
Energy and Infrastructure Team PFI: “Myanmar Reforms Sparks Major Projects Pipeline” Myanmar is undertaking a series of reforms, both in terms of laws and policies, that strengthen the country’s attractiveness for energy and infrastructure projects.
28
Nov
2018
Online registration of mortgages and charges becomes operational on MyCO
As of late last week, online registration of mortgages and charges on the new electronic companies’ registry system, Myanmar Companies Online (“MyCO”) has become operational. This is achieved using the prescribed ‘Form H’ to comply with the statutory requirements under Section 229 of the Myanmar Companies Law 2017 (“MCL”), whereby Myanmar companies are required to […]
28
Feb
2018
LNG to Power, Condo Rule Changes and New Compliance Rules (VDB Loi insights this month)
On 30 January 2018 the Ministry of Electricity and Energy (MOEE) held a ceremony in NayPyiTaw to sign four so-called “Notices to Proceed”, each one for a planned LNG or Gas to Power project, in total nearly 3,000 MW.
19
Feb
2018
Myanmar Progress Report (2017-2018)
As in previous years, we like to update our clients at the beginning of each year on the progress we made as a firm in the previous year.
31
Jan
2018
MONREC issues first ever Environmental Compliance Certificate
The Ministry of Natural Resources and Environmental Conservation (MONREC) has just issued what we were told is their first ever Environmental Compliance Certificate (ECC). The ECC is in a letter format and confirms that the applicant’s Environmental and Social Impact Assessment is in compliance with the requirements of the Law on Environmental Conservation (LEC). It […]
31
Jan
2018
Updated list of MIC Team Members
The Union Government of Myanmar has issued an updated list of members for the Myanmar Investment Commission. This list is in effect starting from 18 January 2018. There are only a few changes compared to the previous list of members. Please see the list below. 1 Chairman U Kyaw Win Union Minister Ministry of Planning […]
29
Jan
2018
New Minimum Wage
The National Minimum Wage Determination Committee issued Notification 2/2015 on 28 August 2015 in which the Stipulation of Minimum Wage was announced at MMK3,600 (US$2.80) per day, calculated at a rate of MMK450 (US$0.35) per hour. Due to the increasing cost of living as well as country development, workers in Myanmar have been requesting an […]
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