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Myanmar adopted
the market oriented economic system in the year 1988 after adopting
the centralised planning economic system for more than two decades.
Substantial stabilization and reform measures had been undertaken
to be in line with the new economic system. The initial step
taken towards a more liberalized economy is to allow foreign
direct investment and to encourage the private sector development.
In the area of legal framework one of the first laws on investment
promulgated by the State Law and Order Restoration Council is
the Union of Myanmar Foreign Investment Law (FIL), promulgated
on 30th November 1988 to induce foreign investment and to boost
investment particularly in the private sector.
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In 1993 under the Ministry
of National Planning and Economic Development, Directorate of
Investment and Company Administration was formed. Major functions
of Directorate of Investment and Company Administration, Ministry
of National Planning and Economic Development are scrutinizing
and appraisal of projects that are proposed for investment in
the Union of Myanmar, monitoring and reporting the implementation
of permitted enterprises, registration and administration of
Limited Companies, Joint Ventures, Partnerships and Association.
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| Doing business in Myanmar has to be done according
to the following acts and laws. |
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Myanmar Company Act (1914) |
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Special Company Act (1950) |
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Myanmar Companies Regulations
(1957) |
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Myanmar Companies Rules |
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The Partnership Act (1932) |
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Union of Myanmar Foreign Investment
Law |
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