Myanmar issues foreign investment rules
01 February 2013
On 2 November 2012, the Foreign Investment Law (2012, Union Parliament Law No. 21) (Foreign Investment Law) was signed into law by President of the Republic of the Union of Myanmar, U Thein Sein.
On 31 January 2013, the final pieces of Myanmar’s new foreign investment framework were put into place with the issue by the Ministry of National Planning and Economic Development of the implementing rules1 (Foreign Investment Rules), and the issue by the Myanmar Investment Commission (MIC) of a notification outlining restricted and prohibited activities (MIC Notification).2 In this client bulletin, we highlight the main provisions of the Foreign Investment Rules and the MIC Notification, and provide an overview of the activities in which foreign investment is restricted or prohibited, the procedure for applying for an investment permit from MIC (MIC Permit) and other key conditions for investing under the Foreign Investment Law.