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 […]

Highlights of this note What is causing delays? But it is also a question of focus How do we fix this? Was the MOA abolished? MOEE and EPGE both sign the PPA? Draft and negotiate the MOA or the NTP and the PPA at the same time? Standardize the all power documents? Create an Inter-Ministerial […]

Myanmar has precious little regulation governing Government tenders, but what it does have, has just been revamped and enlarged. Presidential Notification 1/2017 dated 10 April 2017 (the Notification) has reset and strengthened rules on certain types of Government procurement. Highlights of this note To which tenders does the Notification apply? Is a tender obligatory in […]

The National Assembly has passed Myanmar Companies Law (the “MCL”) after extensive debate on various aspects of Myanmar’s long awaited corporate reform. The Law is finally here, passed on 23 November, pending signing into law by the President. Key areas which were hotly debated in recent weeks included the highly contentious question of whether small […]

In our previous client briefing note, we outlined five key things to look forward to under the Myanmar Companies Law (“MCL”). Following on from this, and as part of our continued coverage of the MCL, we will outline five potential drawbacks with regard to the MCL and how they may affect companies in practice. 1. […]

Introduction: The end of the comprehensive overhaul of Myanmar’s corporate legal framework is finally in sight with an updated Companies Law (the “MCL”) approved by Myanmar’s Parliament. Once the MCL is signed into law by the President, the outdated Myanmar Companies Act of 1914 (the “1914 Act”) will be abolished, bringing Myanmar Companies Law in […]

On September 13th, VDB Loi participated in the 5th Euromoney Myanmar Global Investment Forum in Nay Pyi Taw. Edwin Vanderbruggen was featured as the keynote speaker on the electricity panel, which addressed a number of concerns among the business community in this rapidly expanding sector. Amongst investors’ questions were which power sources are the most viable […]

Myanmar is a country rich in resources and potential which currently has 16 onshore blocks and 19 offshore blocks in production. The offshore Yadana (TOTAL, Chevron and PTTEP) and Yetagun (Petronas, PTTEP) natural gas projects started production in 1998 and 2000 respectively under gas sales contracts to the Thai state oil company PTT. Highlights Government […]

A “market sounding meeting” was held on 29 September to exchange some preliminary ideas on the Government’s tender for the Heho, Mawlamyine and Kawthaung Airports. The Government had earlier launched tender application forms which were available for purchase. Some 50 to 60 companies had purchased the set per airport, with most of the interest going […]

One of the many challenges facing private investors in public infrastructure in Myanmar is, increasingly, the currency issue. The Myanmar Kyat (MMK) has been in a slow but steady decline against the US$ since 2014. Highlights More pressure to accept MMK tariffs Tariff entirely in MMK Tariff in US$ but payable in MMK Tariff in […]

On 9 September 2016, the Myanmar Ministry of Electricity and Energy (MOEE), through the Myanmar Oil and Gas Enterprise, (MOGE), published a request for Expressions of Interest for the “bulk supply and or terminal of LNG in Myanmar”. Highlights The Myanmar government’s interest in LNG How much LNG does Myanmar need?   No long term […]

The new Dam Law of 2017 (the “Law”) is only pertaining to the duties and rights of the authorities, maintenance and protection of dams, compliance before construction of dams, preventive measures for overflow of water, and payment of compensation to land losers. It does not clarify on the factors which would affect the hydropower projects […]

As Myanmar increasingly liberalizes, decentralizes and opens its power sector to foreign investment, foreign IPPs are faced with a legal and regulatory framework that is in full transition.

August was a busy month at the National Assembly with most attention going to amendment of the Telecom Law. Central to the amendment are the harsh sanctions on defamation and misinformation using telecommunication means, presently a non-bailable offence. Legislators in both chambers are seeking to recalibrate the provision. Waterways were also discussed through the draft […]

The insurance sector in Myanmar is still in its infancy and dominated by the state owned enterprise, Myanma Insurance (“MI”). Through the Myanmar Insurance Law 1993, MI was empowered to engage in all insurance business activities, permit other insurance companies to issue the type of policies as MI authorizes, and monopolize third-party liability and re-insurance. […]

In Myanmar, market access to foreign companies in petroleum products sector has dramatically changed with the introduction of the new Myanmar Investment Law and the release of MIC Notification 15/2017, while a new practice of the Directorate of Investment and Company Administration (“DICA”) makes it possible for foreigners to directly buy into existing Myanmar companies […]

One of Myanmar’s larger cities plans to implement a water supply project serving approximately 150,000 residents. Based on a feasibility study which was carried out, the project would have to comprise several treatment facilities and more than a dozen elevated tanks. The necessary land for each one of the facilities has been earmarked by the […]

A combination of recent law and policy developments has put in motion a tectonic shift for the fuel sector in Myanmar. Since a few months, foreign investors have a much larger access to invest in petroleum products businesses, and are no longer required to conclude a joint venture with the Ministry of Electricity and Energy […]

Myanmar is rich in various natural resources and has advantages due to its geographical location. It has huge water potential, with its four major river systems, which is essential for hydropower projects. The rising national power demand, appreciation of foreign investments by the government and high interest in the hydropower sector, all these factors are […]

The Myanmar Investment Commission (MIC) has announced ten priority areas, according to a statement on the Directorate of Investment and Company Administration’s website. Investors submitting proposals in the area will be given priority, with foreign and local investors welcome to invest in the areas, the statement said.. It is not clear from the statement how […]