New company law a boon for Myanmar economy

Author: Karry Lai | Published: 15 Dec 2017

Myanmar’s stagnant economy has been given a much-needed boost following the implementation of a new Companies Law on December 6. It replaces the previous act which had been in place since 1914. The new law aims to update and modernise the existing framework that was left over from British rule, and brings a raft of changes ranging from increasing foreign ownership in local companies to relaxing registration requirements.

One of the most significant changes to the new law is that foreign participation in Myanmar companies has been raised to up to 35%. Foreign investors will also be able to invest in companies listed on the Yangon Stock Exchange (YSX), which was not previously allowed.

"One of the main problems under the old law was that a Myanmar...