Burma’s new investment law expected in October

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Burma’s new investment law expected in October

 

RANGOON: -- Burma’s new investment bill has been submitted to the parliament and is expected to be approved by October, The Irrawaddy Online reported on Wednesday.

 

The new bill incorporates the Burma Citizens Investment law, enacted in July 2013 and governing local investment, and the Foreign Investment, enacted in November 2012 and governing foreign investment, into one law.

 

The new bill reduces the mandate of the Myanmar Investment Commission and provides a more tailored approach to tax exemptions, said Deputy Minister of National Planning and Finance U Maung Maung Win.

 

Under the bill, the government will directly handle investment projects that are deemed strategically important, require substantial amount of capital or could potentially have social and environmental impacts.

 

Full story: http://englishnews.thaipbs.or.th/burmas-new-investment-law-expected-october/

 

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