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 […]
30
Mar
2018
Foreign Ownership Soon Allowed in Private Schools (VDB Loi Insights This Month)
In the beginning of last year, private schools were classified as a promoted sector under the MIC notification 13/2017 and therefore opened to foreign investors. In addition, the Union Parliament (the Pyidaungsu Hluttaw) released a new draft Private School Law (the “Draft PSL”) in December 2017. VDB Loi is working in collaboration with the Ministry of Education to finalize the Draft PSL in order to make this lucrative sector more attractive to foreign investors.
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.
28
Feb
2018
Notification 140/2017: Labor compliance and the statutory employment contract template
As Myanmar increasingly becomes a place to do business to both domestic entrepreneurs and foreign investors alike, Myanmar’s labor compliance framework has recently taken stimulus with the re-working of Notification 1/2015 on the Employment Contract Template. The result? Notification 140/2017 of 28 August 2017 (the “Notification”). The Notification has new provisions dealing with how an […]
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
Myanmar Approves 4 Gas/LNG to Power Projects (VDB Loi insights this month)
The Ministry of Electricity and Energy (MOEE) has yesterday approved 4 large gas/LNG to power projects. The MOEE is using a new approval instrument which they call the “Notice to Proceed” (NTP).
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 […]
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