"Arrangements are under way to invite bidding for about two dozen offshore blocks in April. The significance of this round will be that investors won't have to enter mandatory joint ventures with local companies," said the official, who declined to be named as he was not authorised to speak to the media.
The ministry invited bidding for 18 onshore blocks in January.
"The closing date for that round is on March 16. After that we plan to open another round for about 25 offshore blocks,...
A window of opportunity has been created by the enactment of the Foreign Investment Law and, on January 31, the rules determining investments, a foreign law firm working in Myanmar said last week.
The Ministry of National Planning and Economic Development released the 100-page document, which details prohibited and restricted sectors, as well as the exemptions different ministries may grant, on January 31.
As The Myanmar Times reported last week, the role and responsibilities of the...
Title and Definition
1. This law is called the Foreign Investment Law.
2. The following terms mentioned in this law must be interpreted as stated below.
(a) The State means the Republic of the Union of Myanmar.
(b) The Commission means the Myanmar Investment Commission formed under this law.
(c) The Union Government means the Union Government of the Republic of the Union of Myanmar.
(d) The Citizen includes guest citizen or person recognized as citizen. The term...
Did You Know?
The population of Myanmar is at present over 52 million with the Bamar, the majority race, making up about 70 percent. The average household size is estimated at 3 or 4 people. As regards education in Myanmar (according... ... More