Myanmar Approved FDI for 2019 in Power Sector: All Projects Selected VDB Loi as AdvisorJanuary 31, 2020
We are very proud to hear that our firm’s strong position in the Myanmarpower sector was once again underscored by the financial reports of the Myanmar Investment Commission (“MIC“). The MIC reportslistnew investment in the country which has been approved by this authoritative body. Nearly all foreign investment in the power sector requires an MIC approval, so the reporting is widely followed by observers as an important indicator.
Up to November 2019, the total investment in the power sector amounted to almost 506 million US$. The entire investment, which is subdivided intojust a few projects, has been supported by VDB loi as its legal advisor, including managing the MIC process.
VDB Loi’s Senior Partner Edwin Vanderbruggen explains: “There were very few projects in 2019, actually. That is why we were able to cover all of the projects that received an MIC in 2019. But it still says something about our team’s capabilities,the confidence people have in us and our market position”.
He continued: “Much more projects are in the pipeline, but they have not reached the MIC stage yet. You can’t apply to the MIC if you have not agreed your Power Purchase Agreement yet, and most do not have that.”
VDB Loi is a leading legal and advisory firm with, besides Myanmar, offices in Cambodia, Laos, Vietnam and Indonesia. In Myanmar the firm employs nearly 100 people, divided over several practices including Banking, Corporate, Disputes, Regulatory, Real Estate, Telecoms andEnergy & Infrastructure.