Lawyers agree that the second draft of Myanmar’s
investment law includes positive developments that will
encourage foreign investors to move into the frontier. It is an
improvement over the previous regulations.
|The second draft
FIL could make it easier for foreign investors to land in
The Foreign Investment Law (FIL) clarified the
country’s investment landscape when it was first
introduced in 2012. But it did not address issues such as
unequal treatment between foreign investors and Myanmar
This second draft was released on March 1, and
responses are due on March 26. It represents the second round
of consultation from the Directorate of Investment and Company Administration
(DICA) to revise the FIL.
Lawyers have witnessed a positive response to the
consultation. Simon Makinson, managing partner of Allen &
Overy’s Yangon office, said that it has refined
the previous draft and taken into...