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Restricted Investment Notification update

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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.

Restricted Investment Notification update

The Myanmar Investment Commission ("MIC") has publicly announced that any foreign investors, including joint ventures with Myanmar citizens, who have invested in a restricted sector identified in Notification 15/2017 will be required pursuant to rule 227 of Myanmar Investment Rules (“MIR”) to notify the MIC or the relevant State/Regional Committee Offices of such activity prior to 29 March 2019 (prescribed form of notification). This will affect existing foreign companies in Myanmar that are already operating without any MIC permit and are now caught by these reporting requirements. All investors who are now making new investments in a restricted sector must submit a notice of their investment within 3 months of commencing the implementation of the investment. 

Please read our analysis of the new restricted investment list in our April 2017 postcard

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

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