Foreign investments in the media sector have not been active in Myanmar this year. One of the probable reason could be the lack of clarify over foreign ownership in this sector. In this brief we analyze the restriction over foreign ownership according to the laws and requirements from the particular authorities in Myanmar. Highlights Broadcasting […]

The National Assembly has passed Myanmar Companies Law (the “MCL”) after extensive debate on various aspects of Myanmar’s long awaited corporate reform. The Law is finally here, passed on 23 November, pending signing into law by the President. Key areas which were hotly debated in recent weeks included the highly contentious question of whether small […]

One of the many challenges facing private investors in public infrastructure in Myanmar is, increasingly, the currency issue. The Myanmar Kyat (MMK) has been in a slow but steady decline against the US$ since 2014. Highlights More pressure to accept MMK tariffs Tariff entirely in MMK Tariff in US$ but payable in MMK Tariff in […]

The insurance sector in Myanmar is still in its infancy and dominated by the state owned enterprise, Myanma Insurance (“MI”). Through the Myanmar Insurance Law 1993, MI was empowered to engage in all insurance business activities, permit other insurance companies to issue the type of policies as MI authorizes, and monopolize third-party liability and re-insurance. […]

1. INTRODUCTION After more than 100 years, Myanmar will soon enact a new Companies Act. The current one, Companies Act, 1914 (“1914 Act”), is a product of British colonization. In many regards it falls short of the requirements of companies, shares, stakeholders, and authorities in the economy of the 21st century. A draft for a new […]

The New Companies Act in Practice (1): Foreign and Single Shareholders, Resident Directors andCompanies Exempt from Auditors The Myanmar government has finally proposed to change the Companies Act after more than 100 years. The Draft Myanmar Companies Bill 2017 (“Draft”) was tabled at the Union Parliament, Amyothar Hluttaw for discussions on 21 July, 2017 by […]

One of Myanmar’s larger cities plans to implement a water supply project serving approximately 150,000 residents. Based on a feasibility study which was carried out, the project would have to comprise several treatment facilities and more than a dozen elevated tanks. The necessary land for each one of the facilities has been earmarked by the […]

Chief negotiators of the EU-Myanmar Investment Protection Agreement met on April 26th and 27th to discuss unresolved issues from the 4th round of negotiations held in December 2016. The discussions focused on the most recent aspects of the EU’s reformed approach to investor protection and investment dispute resolution. Among the key developments, a new code of conduct for […]

In an investment dispute between a foreign investor and the Government of the Union of Myanmar, there are several institutions and rules which can be used.  Highlights of this note What Are the Pros and Cons of ICSID Arbitration for Myanmar Compared to Non-ICSID Arbitration Myanmar’s Dispute Settlement Mechanisms in Existing Investment Treaties Will Myanmar […]

In a move to expand the potential opportunities for foreign investors, the list of activities a foreign investor is allowed to carry out in Myanmar only under a joint venture (“JV”) with a Myanmar citizen or company, has been cut significantly. Highlights of this note Big Winners are Retail, Petroleum Products, Real Estate, Media and […]

VDB Loi has worked on nearly 4,000 Megawatts worth of Myanmar power projects, some now in operation, some awaiting financial close, but most remain in various stages of approval. We have also assisted the Ministry of Electricity and Energy with many of its transactions and privatizations. However, in the last 12-month period, since 1 April […]

On Friday March 31st 2017 the VDB Loi and Latham & Watkins hosted an event entitled “Government Guarantees for Public Private Projects in Myanmar” in Nay Pyi Taw, Myanmar. In attendance were H.E. Kyaw Win, Union Minister of Planning and Finance, U Aung Nai Oo, Director General DICA, U Win Khant, Permanent Secretary Ministry of Planning […]

Myanmar’s Directorate of Investment and Company Administration (“DICA”) has for the first time implemented a transfer of shares in a company wholly owned by Myanmar citizens and registered as a Myanmar company to a foreigner. This is a promising news for a wide-range of business owners and foreign investors in Myanmar, given that attracting a […]

In 2016, telecommunication sector attracted most foreign investment in Myanmar, according to MIC data, and this trend is expected to continue over the coming years. In this client briefing note, we explain ten tips for telecom contracting in Myanmar. Highlights of this note Make it clear who is responsible to get the license in a […]

In a game-changing move, the Directorate of Investment and Company Administration (“DICA”) has for the first time implemented a transfer of shares in a company wholly owned by Myanmar citizens and registered as a Myanmar Company (“MC”) to a foreigner, without incorporating a new legal entity. To date, it was administratively impossible for foreigners to […]