Viewpoint:Cheah Swee Gim The National League for Democracy (NLD) first entered Myanmar’s political and economic mainstream in 2015. They will, once more, contest a position in the 2020 elections. The primary focus of the government during this period has been the resolution of social issues throughout the country, notably in the border regions. With the NLD’s term approaching its end, the…
The year 2019 marked the continuation of several policy shifts brought about by the 2017 Myanmar Companies Law (MCL). The authorities have begun to issue new policies in order to allow foreigners to invest in sectors that were otherwise reserved for Myanmar citizens, such as banking and trading in listed companies. Among the most notable changes of the MCL was the updated definition of a “foreign…
With the Industrial Design and Trademark Laws enacted in January, the Patent Law enacted in March and the Copyright Law in May, the year 2019 marked the start of a significant move towards stronger intellectual property (IP) protections in Myanmar. The country previously relied on colonial-era legislation, but the implementation of these regulations will bring Myanmar in line with international…
This chapter examines the legal system of Myanmar, focusing on changes arising from the Myanmar Company Law and efforts to open up to foreign investment. Crucially, the banking sector has reduced restrictions on foreign participation and introduced the Mobile Financial Services Regulations in an effort to increase banking penetration. The chapter also outlines the measures introduced to enhance transparency…
One of the fastest-growing economies in South-east Asia, Myanmar has been steadily opening up to international trade and investment over the past decade. A new long-term economic development agenda, alongside ongoing liberalisation and the easing of restrictions on foreign investors – notably, within the insurance sector – and considerable growth in some manufacturing segments, is set to encou
Viewpoint:Cheah Swee Gim After taking office in 2016, the National League for Democracy continues to work to improve the legal framework for facilitating business development in Myanmar. Now that the dust has settled from a series of changes, Myanmar has begun to try to effectively execute the reforms promulgated in past years. However, that is not to say that there were not significant changes…
The long-overdue Myanmar Companies Law (MCL), which the government passed in December 2017, was put into practice in August 2018, together with the rollout of Myanmar Companies Online (MyCO) and the issuance of the Myanmar Companies Regulations. Among the most notable changes of the MCL are: • The reduction of the minimum number of shareholders from two to one, and directors from two to…
Myanmar has been one of the fastest-growing South-east Asian economies for over 25 years, and the country’s macroeconomic performance has continued to experience gains in 2018. Efforts to encourage private sector activity have been detailed in a new long-term development agenda, and recent legislative reforms should further bolster business activities. While external economic headwinds and inter
This chapter examines the legal system of Myanmar, focusing on the implementation of the Myanmar Companies Law and its online portal, the new Competition Commission and anti-corruption code, adjusted capital requirements for foreign firms and joint ventures and the increase in minimum wage in March 2018. It also contains a viewpoint from Cheah Swee Gim, Director, Kelvin Chia Yangon.…
In 2017 the Myanmar government continued its efforts to update and streamline the country’s legal framework. The long-awaited Companies Law has been enacted and is expected to greatly modernise the corporate regulatory regime, bringing it in line with international best practices. The Myanmar Investment Rules (MIR) of 2017 have also been issued, implementing the Myanmar Investment Law (MIL)…
