Myanmar Investment Commission issues additional restrictions on foreign investment in Myanmar
Myanmar Investment Commission issues additional restrictions on foreign investment in Myanmar
The Myanmar Investment Commission has issued a new directive granting ministries greater scope to make exceptions on a case-by-case basis when considering foreign investment proposals. Notification 26/2016 amends the list of economic activities which can only be carried out by joint ventures pursuant to the 2012 Foreign Investment Law (FIL). Notification 26/2016 also introduces new restrictions in respect of the location of a foreign invested enterprise. Foreigners are now prohibited from engaging in economic activities which endanger watershed forests, religious sites, traditional worship sites, farm and grazing lands, and water resources. The other activities where foreign participation is prohibited remain unchanged, including arms and ammunition manufacturing, the exploration and production of jade and publishing in the Myanmar language. Read more