On 30 March 2017, the Myanmar Ministry of Planning and Finance published the Investment Rules (the Investment Rules) completing the framework for the new and long-awaited investment regime in Myanmar established by the new Myanmar Investment Law, which came into force on 18 October 2016 (the Investment Law).

It is hoped that the Investment Law and Investment Rules will streamline the approvals process for investment and create a more efficient, transparent and robust investment regime in Myanmar.

Foreign investors and their financiers should be aware of some key changes in process, policy and implementation applicable to new investments in Myanmar. Although the Investment Rules include grandfathering provisions, there is scope that the new regime will apply to changes to existing investments. This bulletin provides an overview of the investment approvals process under the new investment regime and outlines some key considerations for financing of investments in Myanmar.