More Myanmar businesses opened to foreign investors

YangonThe Myanmar Investment Commission (MIC) has expanded the list of businesses that can be owned 100 per cent by foreign investors, as the country aims to attract more foreign investment.

In an August 14 directive, the MIC – which oversees foreign investment in the country – said that foreign investors with joint ventures in 30 industries, including beverage and small and medium-sized power generating, can boost their ownership to 100 per cent.

Full foreign ownership can be granted to 43 joint venture businesses with endorsement from relevant ministries.

Aside, it defines 21 industries that must be operated under special terms and conditions. For instance, cigarette production is permitted on the condition that the investors must use at least 50 per cent of local content and 90 per cent of the output must be exported. The Industry Ministry will supervise the industry.

Full ownership is now granted in several areas, including mining, construction, construction material production, jewellery products, coal exports, hydropower and coal-fired power generating.

The oil and gas sector will remain a restricted area: all foreign investors must operate the business in Myanmar only through joint ventures with the Energy Ministry.

Under the Foreign Investment Law, the ministry must hold partial control on the construction of containers, ports, pipelines and related developments to facilitate the export/import, transportation, warehousing, and distribution of oil and gas. Oil exploration also falls into this category, requiring the ministry to hold a stake in offshore oilrigs and chemical factories.



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The Myanmar Investment Commission (MIC) has expanded the list of businesses that can be owned 100 per cent by foreign investors, as the country aims to attract more foreign investment. In an August 14 directive, the MIC – which oversees foreign investment in the country – said that foreign investors with joint ventures in 30 industries, including beverage and small and medium-sized power generating, can boost their ownership to 100 per cent. Full foreign ownership can be granted to 43 joint venture businesses with endorsement from relevant ministries. Aside, it defines 21 industries that must be operated under special terms...

YangonThe Myanmar Investment Commission (MIC) has expanded the list of businesses that can be owned 100 per cent by foreign investors, as the country aims to attract more foreign investment.

In an August 14 directive, the MIC – which oversees foreign investment in the country – said that foreign investors with joint ventures in 30 industries, including beverage and small and medium-sized power generating, can boost their ownership to 100 per cent.

Full foreign ownership can be granted to 43 joint venture businesses with endorsement from relevant ministries.

Aside, it defines 21 industries that must be operated under special terms and conditions. For instance, cigarette production is permitted on the condition that the investors must use at least 50 per cent of local content and 90 per cent of the output must be exported. The Industry Ministry will supervise the industry.

Full ownership is now granted in several areas, including mining, construction, construction material production, jewellery products, coal exports, hydropower and coal-fired power generating.

The oil and gas sector will remain a restricted area: all foreign investors must operate the business in Myanmar only through joint ventures with the Energy Ministry.

Under the Foreign Investment Law, the ministry must hold partial control on the construction of containers, ports, pipelines and related developments to facilitate the export/import, transportation, warehousing, and distribution of oil and gas. Oil exploration also falls into this category, requiring the ministry to hold a stake in offshore oilrigs and chemical factories.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.