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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.
17
Dec
2012
Myanmar’s Draft Law on Telecommunications: A Few Notable Issues for Foreign Investors
On the eve of the opening of Myanmar’s telecommunications market to foreign investors, the National Assembly will pass yet another milestone on the road to modernizing Myanmar’s legal framework for business and investment.
6
Dec
2012
Due Diligence for Mining Acquisitions in Myanmar: 5 Key Issues
With the easing of foreign sanctions in relation to Myanmar, foreign mining companies that were previously excluded from doing business there are focusing their attention on Asia’s last frontier. Whether for nickel, tin, iron, copper or gold, mining companies are looking into Myanmar with a healthy interest.
12
Nov
2012
Salient Details of Myanmars New Foreign Investment Law
A new Foreign Investment Law (“FIL”) has passed the Union Parliament of Myanmar (the “Parliament”), an important step in Myanmar’s economic liberalization. The FIL clears up many mysteries related to Myanmar’s investment environment.
5
Nov
2012
New 2012 Myanmar Foreign Investment Law now in force – full text English translation
Now available for download, the VDB Loi translation of the 2012 Myanmar Foreign Investment Law (Law nr. 21 of 2012 dated 3 November 2012), which our lawyers and translators have prepared over the weekend since the text was signed into law by the Union President on Saturday.
22
Oct
2012
European Union Moves towards Reinstating Trade Preferences for Myanmar
The European Commission (“EC”) has adopted a proposal to reinstate Myanmar as a beneficiary nation of the Generalised System of Preferences (“GSP”). The GSP is used by the European Union (“EU”) to assist developing countries in the area of trade.
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