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Myanmar enacts new foreign investment law

15 November 2012

On 2 November 2012, President of the Republic of the Union of Myanmar, U Thein Sein, signed into law the much anticipated Foreign Investment Law (2012, Union Parliament Law No. 21) (New Foreign Investment Law) in a move widely regarded as a positive step in the government’s plans for economic expansion. The New Foreign Investment Law improves certain incentives offered to investors under the former Union of Myanmar Foreign Investment Law 1988 (the 1988 Foreign Investment Law) but imposes a number of restrictions on the nature and extent of foreign investment in Myanmar.