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The Republic of
the Union of 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 Republic of 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 Republic of 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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The Republic of the Union of
Myanmar Foreign Investment Law |
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