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New Investment Laws Planned

Myanmar is drafting to new bills to replace existing laws governing domestic and foreign investment, local media reported.

The Myanmar Investment Law 2015, still in draft form will replace both the Myanmar Citizens Investment Law and the Foreign Investment Law, and will be aimed at modernising Myanmar’s investment laws, according to the Directorate of Investment and Company Administration (DICA).

DICA is inviting feedback, and comments will be accepted until March 26. The previous Foreign Investment Law was put into effect in November 2012, replacing a 1988 law.

The Myanmar Investment Commission (MIC) was reformed in June last year.

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