Topic News

• Cargill to preside at highly-anticipated 5th Palm Oil Asia in Jakarta this August
• Examine onshore logistical challenges with The Freight Co at CMT’s Myanmar Transport & Logistics Summit
• Myanmar Urban Development Conference 2013 invitation
• Myanmar Urban Development Conference 2013
• CMT’s Myanmar Consumer Summit Pinpoints Local Consumer Dynamics; Offers Exclusive Myanmar FMCG Survey Report
• Investment Myanmar Summit 2013 held in Yangon
• Cambodia-based ACLEDA to hire 740 more staff as it begins micro lending in Yangon
• Foreign investors waiting for Myanmar's infrastructure to develop, Japanese official says
• VISA expand presence in Myanmar through three banks
• Myanmar gas exports to hit new record of nearly $4 billion, official says
• Government's poor management of riots leads to anarchy in Myanmar
• Garment exports to surpass $1 billion as Myanmar's makeover gains speed
• Curfews imposed in five townships in western Bago
• President Thein Sein takes tough approach on religious riots
• 9th SugarWorld ASIA 28-30 Apr, 2013 – Yangon ParkROYAL Yangon
• Union level bodies reluctant to answer questions and proposals, says Lower House Speaker
• Rule of law can be established only when administrative body systematically controls situation, says Suu Kyi
• Myanmar govt, ethnic PAO armed group ink peace agreement
• Constitutional amendment should be made outside parliament: KNLP
• Myanmar's Generation Wave Institute looks to train MPs
• Parliament approves amended budget
• Myanmar's booming beauty business
• Buddhist-Muslim riot breaks out in Meiktila
• Google launches Myanmar sub-domain ahead of top executive's visit
• Regional governments will take over checking procedures of mobile teams
• US, EU plan to invest in hotel industry in Myanmar
• Canadian mining firm eyes gold in central Myanmar
• Bidders dispute Yangon land tender process
• UN welcomes dialogue between govt, KIO
• Thilawa will go ahead: Japan
• Speed traps coming to Nay Pyi Taw highway
• Myanmar eases regulations on foreign-currency accounts
• Solar power may offer alternative solutions to rural Myanmar
• Latpadaung farmers disagree over compensation
• ACO bets $700 million on Myanmar
• Overseas travel made easier
• Australia provides $20.7 aid to Myanmar
• Former Myanmar nationals reap benefits of economic reforms
• Myanmar's 25-year-old opposition party holds first congress
• Low price SIMs available in April: Thein Sein
• Shan Sauvignon on the grapevine
• S Korea expresses interest in new Yangon airport
• Hilton checks into Myanmar
• Norway to open Yangon embassy
• Myanmar timber merchants call for moves to meet demand
• Toyota to open more auto service centers
• Christians Worldwide to Gather to Pray for Burma
• Myanmar must stay in rights spotlight: UN monitor
• Three royal buildings in Mandalay to be restored

Doing Business in Myanmar.ca Book

The Myanmar.ca is pleased to offer readers Doing Business in Myanmar : Investment Opportunities - a recently released investment guide to one of Asia's final economic frontiers.

The 23-page report was authored by Sonny AMO and includes latest unofficial translation of Foreign Investment Law, Myanmar Investment Commission (MIC) and MIC Procedures, Company Registration.

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Guide to Invest in Myanmar

Since the adoption of the market-oriented economic system, the Union of Myanmar - Foreign Investment Law (FIL) was enacted on 30 November 1988.

In order to oversee and administer the Foreign Investment Law (FIL) and Myanmar Citizen's Investment Law (MCIL); the Myanmar Investment Commission (MIC) was formed with the Government of the Union of Myanmar Notification No. ( 7/94) on 3 August 1994. The commission was reformed with the Notification No.(59/99) on 3 December 1999. The Commission consists of five full time members and five part time members. All of the members are Ministers.

The Myanmar Investment Commission (MIC) is an initial approving authority for foreign investment proposals just like Board of Investment (BOI) of Thailand and Economic Development Board (EDB) of Singapore. It undertakes the responsibility to Trade Council and Cabinet.

In order to provide more specific guidance to foreign investors, a notification listing the types of economic activities allowed for foreign investment has been issued. It is not an exhaustic list but it covers most activities with the exception of those reserved under the State-owned Economic Enterprises Law (SEE Law). However, if a foreign investor is interested in an activity not specified in the notification or an activity defined in the SEE Law, he can apply to MIC stating his interest and reasons as to why it will be mutually beneficial to the State and to himself for the activity to be undertaken. If MIC is satisfied that the proposed activity will indeed be in the interest of our Nation, it may put up the application for approval from Trade Council and Cabinet.

The FIL allows that foreign investment activities can be undertaken either in the form of wholly foreign - owned or a joint venture with any Myanmar partner, either an individual, a private company, a co-operative society or a State-owned enterprise.

In all joint ventures, the minimum share of the foreign party is 35 percent of the total equity capital. BOT ( Built Operate and Transfer ) system is allowed for hotel and real estate project, while PSC ( Production Sharing Contract) system is allowed for exploration and extraction of the natural resources.