Draft Investment Law to be submitted by mid-July

By Mizzima
01 July 2016
Draft Investment Law to be submitted by mid-July
A man takes a photograph of an electronic board showing the FMI (First Myanmar Investment) index at Yangon Stock Exchange, Yangon, Myanmar, 25 March 2016. Photo: Lynn Bo Bo/EPA

Myanmar's new draft Investment Law will be submitted to parliament for discussion by mid-July, Xinhua reported on 30 June quoting U Aung Naing Oo, Director General of Directorate of Investment and Company Administration.
Although Myanmar enacted the Foreign Investment Law in 2012 and Citizens' Investment Law in 2013 with the approval of parliament, there were arguments over the laws and the former government has called for the drafting of a new one combining the two laws with the support of International Finance Corporation (IFC).
Meanwhile, the new Company Act drafted with the help of Asian Development Bank (ADB) in 2014 is yet to be submitted to parliament.
Myanmar's new Company Act is the key to allowing foreign investors on to the Yangon Stock Exchange (YSX) the report said.