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foreign investment law in myanmar

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Foreign Investment Law in Myanmar to Be Determined Soon

Posted on 18 July 2012 by Rob

Yangon,Myanmar: Foreign investment law in Myanmar, which allows foreign investors to invest in Myanmar fully in long term land permits, detaching tax and law for intellectual property will be established in Myanmar before the beginning of new fiscal year, Weekly Eleven News Journal reported.

“As the new foreign investment law is a lot more adequate than the previous one, I believe more foreign investors will pour into Myanmar.  This foreign investment law is based not only on the law of developed countries but also takes into account the investment law fromVietnam,Cambodia, andLaos.  That is why it will persuade international countries and I am quite sure that interested countries will approach us in the near future.  I have heard that it will enact before the beginning of upcoming fiscal year”, mentioned Dr. Nay Zin Latt, one of the President counselors.

Under the new foreign investing law, a foreigner can form a joint venture with the government departments or other individuals. With regards to the proper legal forms, it can be done as a sole propriety or as a limited company.  If it is formed as a limited company, the government’s capital should be at least 35 percent of the total capital amount invested.

The new investment law in Myanmar will cover: machineries, machine spare parts, tools, essential products which are not available locally, licenses, brands, copy rights, invention copy rights, intellectual properties such as architectural designs,  professional subjects are included in categories of investable capital.

According to the newly formed foreign investment law, new investment commission will also be evident.  The commission will handle land usage, exemption and tax relief for example. According to the investment capital put forth the commission will allow 30 years for the initial permission and will provide 15 years extension periods.

If foreign investors think their investments should be tax-free, they can apply to for an investment commission; income tax can be waived for 5 years (including the first year of formation of the business) upon production and service businesses.  Moreover, the commission will lift income tax or relieve some tax depending on the achievements of the foreign investor and the overall business.

If the foreign investor makes a fund from the profit and reinvests the fund within one year, income tax will be waived upon those profits or some taxes may be relieved.  Weekly Eleven News Journal also reported that many more tax exemptions policies are included in the new investment law.

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myanmar foreign investment

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China Is The Largest Foreign Investor in Myanmar

Posted on 25 June 2012 by Myanmar Guardian

Yangon,Myanmar: China is the largest foreign investor in Myanmar according to the latest foreign investment statistics. China invested $13.9 million USD to date.  This represented a total investment of 34.50% percent of the total investment made by all foreign countries in Myanmar.

In total, 33 companies from China are heavily investing into Myanmar representing over $13.9 million USD.  Just behind China,Thailand is in the No. 2 spot by investing $9.6 million USD and Hong Kong in No. 3 position by $6.3 million USD.  There were total 61 companies from Thailand and 38 from Hong Kong.

Top 10 investors of Myanmarare: China, Thailand, Hong Kong, South Korea, England, Singapore, Malaysia, France, America and Indonesia, according to the Weekly Eleven News Journal in Myanmar. “We expect that there will be more foreign investors in the future.  We have got a great interest from neighboring countries now.  Malaysia is also now very interested in investing in our country especially in the infrastructure projects such as highways, airports, production businesses and some other development projects.  South Korea is investing in Myanmar and is rated at No. 7 position” mentioned by Dr. Maung Maung Lay, vice chairman of  The Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI).

Among the investments, energy sector is the main interest among investors holding $18.8 million USD of  investments.  Petroleum and natural gas sector is second most interested sector and it holds $13.8 million USD.  Mineral resource market represents $2.7 million USD.  The production sector holds No.4 spot with $1.7 million USD.  Tourism sector is in No.5 spot with $1,1 million USD.  Investments in real estate sector are growing by foreign investors and holds $1.1 million USD. Lastly, transportation and telecommunication markets in Myanmar are placed at No.8 with $313 million USD invested.

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