Formation of new Myanmar Investment Commission

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Summary: Team members of our BLP Myanmar office have been closely involved the development of the new Myanmar Investment Law. Below is a selection of key updates which track its progress, previously included in our monthly Myanmar Postcard series. In our latest update, we discuss the formation of the new Myanmar Investment Commission.

About the Myanmar Investment Law

The new Myanmar Investment Law is designed to promote and facilitate both foreign and domestic investment in the economy and open more economic sectors to private investment.

Formation of new Myanmar Investment Commission 

The new Myanmar Investment Commission (“MIC”) was officially established on 6 June 2017. The Myanmar Investment Law and Investment Rules have brought in significant changes to the investment framework in Myanmar and set out the role of MIC.

The new MIC comprises 13 persons and is headed by the Union Ministers for the Ministry of Planning and Finance (H.E. U Kyaw Win) as chairman and the Ministry of Commerce (H.E. Dr Than Myint) as vice-chairman. The three new members appointed are the Deputy Minister for the Ministry of Agriculture, Livestock and Irrigation (U Hla Kyaw), the Permanent Secretary of the Ministry of Electricity and Energy (U Khin Maung Yee), and the Permanent Secretary of the Ministry of Labour, Immigration and Population (U Myo Aung). The reshuffle also removed one member from MIC.

U Aung Naing Oo and Daw Mya Thuzar continue their roles as secretary and joint secretary.

View a copy of the official announcement. 

For our top picks for developments taking place in Myanmar, please go to our June 2017 postcard.

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