Myanmar keyword: MIC

September 17, 2021

The Myanmar Investment Commission (“MIC”) released Notification 28/2021, dated 8 September 2021, regarding a support plan for the recovery of businesses in Myanmar (“Notification 28”); the MIC will issue a new MIC Permit or Endorsement to investments that suffered fire damage in March 2021. Who are entitled to apply? Notification 28 listed two main groups […]

February 27, 2020

MIC has announced on 30 December 2019 (“Announcement”) on the new format for its quarterly report, the Myanmar Investment Commission (“MIC”). The new MIC quarterly report a uniform format for all investment sectors. This new format must be used starting from the January to March 2020 period. In addition to other usual items to be […]

January 22, 2020

The Central Bank of Myanmar (“CBM”) has recently made changes to the offshore loan criteria that it has published on its website (see Clearer wording has been added in terms of the differences in requirements for companies holding permits from the Myanmar Investment Commission (“MIC”) and non-MIC companies. Further updates have been made to terms […]

May 28, 2019

Lack of electricity generation and the growing demand in power supply have led the government of Myanmar to resort to short-term power rental projects to feed electricity into the grid as early as 2014 when the government awarded a number of power rental projects to companies such as Aggreko and APR Energy. Highlights of this […]

January 15, 2019

In another exciting development in the Myanmar financial regulatory landscape, foreign life and non-life insurers can form joint ventures with local life and non-life insurers respectively. In addition, up to 3 (three) licenses will be granted to foreign life insurers to operate as wholly-owned subsidiaries. Therefore, foreign insurers will now play a much more active […]

July 31, 2018

A recent Myanmar Investment Commission notification allowing foreign investment in private schools is the first in a raft of changes for the sector, with a planned Private School Law set to introduce government licensing for teachers and the vetting of international school curricula. Click the following link to read article.

January 31, 2018

The Union Government of Myanmar has issued an updated list of members for the Myanmar Investment Commission. This list is in effect starting from 18 January 2018. There are only a few changes compared to the previous list of members. Please see the list below. 1 Chairman U Kyaw Win Union Minister Ministry of Planning […]

December 29, 2017

MIC has issued an invitation welcoming foreign and Myanmar citizen investors to invest in Logistics Services at the major cities of logistics and trading hub. The sectors of investment  included in the invitation are Dry Port Services, Bonded Warehouse Services, High-way Bus and Freight Terminals and Warehouses & Wholesale Centers. It is also written that […]

November 1, 2017

New rules for appointment and resignation of foreign experts The Investment Monitoring Division of the Directorate of Investment and Company Administration (“DICA”) has issued an Announcement, which came into effect on 21 October 2017. The Announcement pertains to the appointment of foreign experts as senior management, technical experts or consultants. In order for the appointment […]

September 25, 2017

On 9 September 2016, the Myanmar Ministry of Electricity and Energy (MOEE), through the Myanmar Oil and Gas Enterprise, (MOGE), published a request for Expressions of Interest for the “bulk supply and or terminal of LNG in Myanmar”. Highlights The Myanmar government’s interest in LNG How much LNG does Myanmar need?   No long term […]

June 30, 2017

The Myanmar Investment Commission (MIC) has announced ten priority areas, according to a statement on the Directorate of Investment and Company Administration’s website. Investors submitting proposals in the area will be given priority, with foreign and local investors welcome to invest in the areas, the statement said.. It is not clear from the statement how […]

June 30, 2017

The Myanmar regime of investment-related tax incentives has been updated by the new “Investment Rules”, officially known as Notification 35/2017 (“Rules 2017”). One of the key issues for investors is the tax exemption for expansion of projects that already received an MIC permit under the Foreign Investment Law 2012 (FIL). 

May 31, 2017

A fairly big portion of new investment projects in Myanmar will no longer receive an actual MIC Permit in accordance with the old, often time consuming procedure. Instead, there is the lighter “Endorsement” procedure for those who need land approvals or who qualify for tax incentives.

March 29, 2017

1. The legal system As the legal system of Myanmar has its roots in the English common law system, laws in Myanmar are similar to English law. 2. Are there restrictions on foreign investment ownership? The Myanmar Investment Commission (MIC) from time to time issues notifications and regulation covering investment by foreign investors in various […]

February 24, 2017

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 […]