June 27, 2017
The Myanmar
Investment Commission (MIC) announced yesterday 10 areas which will be given
priority when entrepreneurs submit their investment proposals.
The prioritised
areas include agriculture, livestock, export promotion, import substitution and
the power sector.
“Both foreign
investors and Myanmar citizen investors are welcome to invest in the stated
investment areas. The Myanmar Investment Commission and the government of
respective states and regions will provide necessary assistance to investors”,
according to a statement released yesterday.
The complete
lists of priority sectors are:
(1) Agriculture
and related services, plus value-added production of agricultural products
(2) Livestock
production and breeding, and production of fishery products
(3) Export
promotion industries
(4) Import
substitution industries
(5) Power sector
(6) Logistic
industries
(7) Education
services
(8) Health care
industry
(9) Construction
of affordable housing
(10)Establishment
of industrial estate
The new Myanmar
Investment Law was enacted on 18th October 2016 by the Pyidaungsu Hluttaw law
No. 40/2016. With the approval of the Cabinet Meeting, the Ministry of Planning
and Finance issued the Myanmar Investment Rules on 30th March 2017 as
Notification 35/2017. This legislation and the Rules give investors easier
access to business activities in Myanmar.
Ref; The Global
New Light of Myanmar
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