The new Myanmar Investment Law came into force on 18 October 2016 and the implementing rules came into effect on 30 March 2017 along with the other relevant notifications which were all published recently. These instruments create the new legal framework for the investment process for Myanmar.

In our previous bulletin on the Investment Law “A big week for Myanmar: A new investment law and the termination of U.S. Sanctions (October 2016)”, we examined the scope, objectives, key principles and the other important provisions in the new Myanmar Investment Law. This bulletin examines if and how the implementing rules and the associated notifications are laid out to achieve the objectives and the policy aims of the new investment regime.

In doing this, we look at each area which has been developed further by the implementing rules and the notifications; composition of the ‘new’ Myanmar Investment Commission (MIC) and how it is intended to work; what triggers the need for an MIC permit; the type of activities that are caught by the so-called “Negative List”; the privileges available under the new regime; and other noteworthy features.