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The Update of Business Landscape in
Myanmar
1
Aung Naing OoPermanent Secretary
Ministry of Investment and Foreign Economic Relations
v Policy updates
v Improvement updates
v Upcoming programmes
v Thai Investment
Outline
2
3
Policies bound for more liberalizations …..
v Responsible investment;
v Facilitation through transparency and expeditious procedure;
v Macroeconomic stability & credible dispute settlement;
v FET, protection, repatriations & long terms land lease;
v Environmental and natural resources;
v Less restriction;
v Promotion.
Investment policy
4
Liberalization
v Export business for foreign companies;
v Import business for foreign companies;
v Retail and Wholesale.
Go automatic
v From non-automatic to broader automatic licensing system;
(4613 commodity lines of HS 2017)
v More commodity lines will be included in the automatic licensing system soon;
Go online
v Electronic export / import license application system will be commenced by the end of 2019.
Trade Policy
5
Concept
v To link MNEs with local MSMEs ;
v Assembling and production shall be conducted for the acceleration of Unit in Operation (UIO).
Principles
v LHD vehicles;
v Initial encouragement of SKD with defined taxation scheme;
v Encourage auto-parts manufacturing industries;
v Enhance cooperation between local and/or international partners in auto related business.
Auto Policy
6
Auto Policy
7
Roadmap
SKD
CKD(BBC, SPV, EV)
MoreCKD(BBC, Export)
8
and improvements have been made in such areas as …..
Functions
v Online registration for all types of companies;
v Filing online;
v Payment online;
v Automated alert system for compliance.
Myanmar Companies Online - MyCO
9
0
2000
4000
6000
8000
10000
12000
14000
16000
18000
2013-2014 2014-2015 2015-2016 2016-2017 2017-2018 2018-2019
7060 7525 7878
10458 10575
17944
v Corporate and investment – Companies Law, Investment Law, SEZ Law & Securities
Exchange Law.
v Banking and Finance – Financial Institutions Law, Foreign Exchange
Management Law, Microfinance Business Law &
Myanmar Central Bank Law.
v Trade - Import and Export Law, Consumer Protection Law &
Competition Law.
v Commercial transactions – Registration Law.
v Industrial activities – SME Development Law, Shops and Establishment Law &
Factories Act 1951 (amended in 2016).
v Taxation – Income Tax Law (amended in 2016), Commercial Tax
Law (amended in 2015), The Myanmar Stamp Duty Act
(amended in 2017), Special Commodity Tax Law,
Tax Administration Law & Union Tax Law.
v Intellectual property – Trademarks Law, Patent Law, Industrial Design Law & Copyright Law.
v Dispute resolution – Arbitration Law.
Foundational Legal Framework
10
11
What next ?…..
Laws
Regulations
Administrative Practices,
Procedures, Notifications
Institutions (to administer
laws)
Courts (to enforce laws)
Standard Operating Procedures
12
Passing laws alone will not create a conducive legal framework
SOP
New Industrial Zones
13
F
F
F
F
F
2910 Rai
1405 Rai
4515 Rai
22770 Rai
Thilawa SEZ
Foreign Investment of Existing Enterprises
14
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5000.000
10000.000
15000.000
20000.000
25000.000
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ong
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i Lan
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Thai Investment
Yearly Approved FDI
15
0
1000
2000
3000
4000
5000
6000
7000
2016-2017 2017-2018 2018(Interim Fiscal Year)
2018-2019(as of July)
6649.812
5717.096
1764.701
3526.215
262.588 401.880179.596 221.430
6912.4
6118.976
1944.297
3747.645
MIL SEZL Total
Total FDI
Thai Investment
16
Agriculture Sector0%
Livestock & Fisheries Sector
5%Mining Sector0%
Manufacturing Sector21%
Transport Sector
1%Power Sector7%
Oil & Gas Sector 50%
Hotels and Tourism Sector
10%
Others Sector2%
SEZ4%
Thai Investment
17
0
50
100
150
200
250
300
350
400
450
500
2016-2017 2017-2018 2018-2019
423.058
123.115
262.2
67.6 67.694
19.496
490.658
190.809
281.696
MIL SEZL Total
Registration of Thailand Companies
18
Trading15%
Industry11%
Services72%
Construction0%
Hotel1%
Tourism1%
Bank0% General
0%
Total 1809