Draft law benefits Myanmar FDI

Author: Ashley Lee | Published: 10 Mar 2015
The second draft FIL could make it easier for foreign investors to land in Myanmar
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 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 citizens.

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...