New Investment Law has Not Been Passed

Despite recent media reports to the contrary, the new investment law for Myanmar has not been passed and is scheduled to be debated in parliament in 2016.

(For example: http://www.irrawaddy.com/burma/after-much-deliberation-investment-law-approved-by-parliament.html; http://englishnews.thaipbs.or.th/myanmars-investment-law-approved-by-parliamant)

The confusion was caused over amendments to the existing Myanmar Citizens Law and Foreign Investment Laws that delegates some of the MIC’s powers to State and Regional bodies, allowing for more localĀ involvement in granting investment permits. This development itself is an interesting issue that needs to be explored further.

Nevertheless, The Directorate of Investment and Companies Administration (DICA) has confirmed that the new investment law has not been passed.

 

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