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Articles
15
Feb
2013
Game Change for Secured Lending and Mortgages in Myanmar
One of the key issues in the new implementing rules and regulations of Myanmar’s Foreign Investment Law relates to foreign loans and security for foreign loans. Chapter 11 of Regulation 11-2013 (sections 62 et seq.; “The Regulation”) now provides that foreign investors are allowed to establish security on land and buildings.
6
Feb
2013
Notification 1/2013 Myanmar Investment Commission full text translation now available
List of Business Activities Allowed for Foreign Investment. Notification No. 1/2013 (full text translation)
3
Feb
2013
Additional rules and restrictions on FDI to be released soon in Myanmar
We have obtained an advance copy of the Myanmar Investment Commission’s Notification 1/2013 which sets out a long list of additional rules and some restrictions on foreign investment in Myanmar. This Notification, which follows and adds to Regulation 11/2013 of the Ministry of National Planning and Economic Development (MNPED) which we commented on per email yesterday, has apparently been finalized but has not yet been officially released.
1
Feb
2013
Myanmar FIL regulations: up to 80% foreign share for joint ventures in restricted activity
VDB Loi has obtained an advance copy of the Regulations implementing the Foreign Investment Law.
21
Jan
2013
European Commission proposes reinstatement of Myanmar export incentives
The European Commission has adopted a proposal to reinstate Myanmar as a beneficiary nation of the generalised system of preferences (GSP). The GSP is used by the EU to assist developing countries in the area of trade.
17
Jan
2013
Myanmar Government invites bids for 18 onshore blocks
This morning, the Myanmar Government announced it will be deciding on bids for up to 18 onshore blocks in the next few months. The Ministry is also preparing a bidding round for offshore blocks, which is expected shortly. Five of the blocks are Improved Oil Recovery blocks. Some of the blocks were awarded to contractors earlier, but have been relinquished since.
14
Jan
2013
Myanmar Forms New Inter-Ministerial Committees to Tackle Electricity and Energy Issues
President Thein Sein has created two new Government bodies to assist in the development of the electricity and the energy sector. Notification 12/2013 dated 9 January 2013 established the National Energy Management Committee (NEMC) and the Energy Management Committee (EMC).
14
Jan
2013
Myanmar Sets Up Action Committee against Corruption
On 8 January 2013, the President’s Office signed into force a Notification to establish the “Organizing action committee against corruption”.
20
Dec
2012
New Foreign Investment Law with extensive tax incentives enters into force
A new Foreign Investment Law (FIL) has passed the Union Parliament of Myanmar, an important step in Myanmar’s economic liberalisation.
20
Dec
2012
New Double-Taxation Agreement Between Myanmar and Thailand
The Myanmar double taxation agreement (DTA) with Thailand, one of the region’s most anticipated tax treaties, can soon be applied by Myanmar taxpayers. Myanmar and Thailand signed a DTA in 2002 and the DTA officially entered into force on 1 January 2012.
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