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Myanmar Investment Law n°40/2016

The Myanmar Investment Law of 2016 combined the Myanmar Citizen’s Investment Law (2013) with the Foreign Investment Law (2012). The Government treats foreign and local investment projects equally in terms of expansion, management, operation and sale of direct investments.

New approval processes with MIC and tax incentives are the main evolution in comparison with the former Foreign Investment Law 2012. There are now two types of processes to obtain approval from the Myanmar Investment Commission (“MIC”), that is, the permit application process and the endorsement application process. The Myanmar Investment Law of 2016 operates a clear distinction between the investment, which is prohibited and the investment, which is restricted.