What Changes in Practice under the New Investment Law?
The 2012 Foreign Investment Law and the 2013 Myanmar Citizens Investment Law have been merged and upgraded into one combined “Investment Law”. Now soon to be in force, we outline what changes in practice.
Highlights of this note
- Is the Investment Law an improvement for investors?
- Are there any disappointments?
- Investment law also applies to already existing companies, branches even without MIC Permit
- Two MIC processes: “Permit” and “Approval”
- Foreign exchange remittances: nice drafting but no additional rights for investors
- Tax incentives curtailed or improved?
- The Investment Law adopts international standards to protect investors
- Compensation for expropriation