ANNOUNCEMENT 01 Nov 2012In November 2012, the government of Myanmar announced changed rules for foreign investors.
NUMBER OF INTERVENTIONS
The Republic of the Union of Myanmar, President Office, Foreign Investment Law (Law No 21/2012):
Library of Congress Website:
Summary in English: http://www.reuters.com/article/2012/11/03/us-myanmar-investment-idUSBRE8A204F20121103
The old law: http://www.energy.gov.mm/index.php/en/component/content/article/214
Summary of the detailed Regulations from 31 Januaey 2013:
Official documents (translated into English)
Affected trading partners and sectors: http://www.unescap.org/tid/projects/fdi2011-aung.pdf
On November 1st, 2012, the Burmese Parliament passed the Foreign Investment Law (Law No 21/2012). One day later, the President of Myanmar, Thein Sein, signed the new law. This law introduces several changes to an international investment law introduced in 1988 as well some new regulations. In general, the changes facilitate international investment into the local market of Myanmar.
Changes to the 1988 law:
On January 31, 2013 the Burmese Ministry of National Planning and Economic Development issued the Notification 1/2013 and the Notification 11/2013 which provide details on the implementation of the Foreign Investment Law regarding sensitive sectors. The most senstive sector still is the mining sector.