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NEWS UPDATES Asean Affairs   12 February 2013  

Myanmar releases new investment rules


Clarification of the rules governing the newly enacted Foreign Investment Law in Myanmar was issued by the Ministry of National Planning and Economic Development on January 31.

Key features of the guidelines include a provision that allows shares in entities that have been formed under the FIL to be transferred from Myanmar citizens to foreigners and vice versa if approval is granted by the Myanmar Investment Commission.

At the same time, the rules no longer set a minimum capital requirement for investments, except in mining ventures. Another important clarification is the dropping of foreign ownership restrictions in joint ventures, except in restricted sectors, where they will be capped at 80 percent.

Other sectors, which have been deemed to not require foreign capital or knowledge, such as farming and fishing enterprises, as well as those that heavily pollute the environment, have been deemed off-limits to foreign investment.

The January 31 release also affirms the role of the Directorate of Investment and Companies Administration (DICA) in foreign investments. The body has been given more power to carry out its stated functions.

The role and discretionary powers of the Myanmar Investment Commission is also strengthened by the new rules.

And while the rules might appear to make the country more attractive to foreign companies, it also sets tighter requirements in terms of finishing proposed projects within specified deadlines. Failure to do so will result in the withdrawal of MIC approval.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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