Myanmar Investment Law (Draft) 2016

Myanmar Investment Law (Draft)

(2016, PyidaungsuHluttaw Law No. 40)

2nd, Waning of Thadingyut, 1378 M.E. (18, October, 2016)

The Pyidaungsu Hluttaw hereby enacts this Law.

(Unofficial Translation October 10, 2016)

Chapter (1)

Title and Definition

1. This Law shall be called the Myanmar Investment Law.

2. The following expressions contained in this Law shall have the meanings given here under:

• (a) Union means the Republic of the Union of Myanmar.
• (b) President means the President of the Republic of the Union of Myanmar.
• (c) Government means Union Government of the Republic of the Union of Myanmar.
• (d) Ministry means the Ministry of Planning and Finance.
• (e) Commission means the Myanmar Investment Commission formed under this Law.
• (f) Member means any members of the Myanmar Investment Commission, including the Chairman and the Vice-Chairman.

Knowing the history of Small and Medium Enterprises, SMEs in Myanmar

Myanmar has adopted the market – oriented economic system in 1988. Appropriate measures has been undertaken, the underlying aspect in doing so are decentralizing the central control, encouraging private sector development, allowing foreign direct investment, initiating institutional changes and promoting external trade by streamlining export and import producers. According, laws, orders, rules, regulations and notifications which had prohibited or restricted the private sector from engaging in economic activities were replaced and many laws and rules were amended to be in line with the change of time and circumstances.

The Union of Myanmar Foreign Investment Law (FIL) was enacted in November 1988 and the procedures prescribed in December 1988 encouraging foreign direct investment. Myanmar has opened the doors to foreign investment to participate actively in exploiting the natural resources thereby enhancing long – term mutually beneficial cooperation.

Shwe Property and Property Guru hosts Digital Marketing panel discussion in Myanmar

Shweproperty.com and Property Guru hosted a digital marketing seminar for property developers in Myanmar which highlighted the importance of utilising the digital realm to find more leads on renters and leases to help expand their business.

Director and Head of Consultancy and Research from Knight Frank Singapore, Alice Tan, told the audience that Singaporeans were keen on investing in Myanmar’s real estate sector because of the country’s strategic location in Southeast Asia and the room for growth in the market.

SEANET launched the new Satellite to give Faster Broadband Internet to Myanmar

IT services firm Southeastasia Net Technologies Myanmar Co Ltd (SEANET) has launched a new satellite network to bring broadband internet to Myanmar. The network is known as a Very Small Aperture Terminal (VSAT) and the company will be looking for clients such as NGOs, banks and cellular operators to provide a dedicated stream of data for their customers.

“VSAT delivered internet will play a pivotal role in developing Myanmar’s ICT infrastructure,” U Pyone Maung Maung, chairman and managing director of SEANET Myanmar, said.

Mobile Revolution in Myanmar (Burma)

Myanmar has seen massive growth in internet penetration, mobile phone adoption and social media usage in the past few years, spurred by the end of direct military rule and rapid opening up of its market after decades of isolation.

The consumer market in Myanmar has essentially bypassed the development stages seen in other economies and moved straight to digital and mobile, making the company a potentially interesting test bed for internet-enabled businesses.

The mobile phone penetration rate in Myanmar, which barely touched double digits in 2013, has now reached around 50% of its estimated 54 million population last year.