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Myanmar has opened to foreign investors to participate in exploiting their natural resources along with enhancing long-term mutual benefit through economic cooperation. In restricted sectors, foreign investors can propose a 50-50 joint venture with Myanmar citizens. In unrestricted sectors, the law permits wholly-owned foreign businesses or joint ventures with a minimum 35 percent foreign stake.
Import policy Import of capital goods, industrial machineries, raw materials and other essential items are allowed. But import of product which can be domestically produced such as consumed product are restricted, in order to encourage domestic production. Import of certain non-essential items such as alcohol, cigarettes to protect public health is prohibited.
Major Import Items
• Power tiller • Hand tractor
• Water pump • Hydraulic excavator
• Cement • MS rods and mild …show more content…
Due to this unstable policy, there are both positive and negative side for foreign investors. In positive side, government provided more freedom to the business industry in terms of democracy system. And they released the law to attract and facilities the international business as well. But for the negative side, even if the government try to attract the foreigner to invest in their country, but there’s still a risk for expropriation or confiscation in Myanmar, since the sovereignty is not belonged to the Burmese perfectly as it should.
Since Myanmar was ruled by military government for many eras, their regulation and policy still remain from the socialist and military rule, which was very weak context of law, also their enforcement for any particular crime action are weak too. And their law also support for the military government actions , no matter it was right or wrong actions. This is a difficulty for doing business in Myanmar, since their council law is unfair. Thus, the foreign investor need to follow the strict law in conducting business in Myanmar all the
Import policy Import of capital goods, industrial machineries, raw materials and other essential items are allowed. But import of product which can be domestically produced such as consumed product are restricted, in order to encourage domestic production. Import of certain non-essential items such as alcohol, cigarettes to protect public health is prohibited.
Major Import Items
• Power tiller • Hand tractor
• Water pump • Hydraulic excavator
• Cement • MS rods and mild …show more content…
Due to this unstable policy, there are both positive and negative side for foreign investors. In positive side, government provided more freedom to the business industry in terms of democracy system. And they released the law to attract and facilities the international business as well. But for the negative side, even if the government try to attract the foreigner to invest in their country, but there’s still a risk for expropriation or confiscation in Myanmar, since the sovereignty is not belonged to the Burmese perfectly as it should.
Since Myanmar was ruled by military government for many eras, their regulation and policy still remain from the socialist and military rule, which was very weak context of law, also their enforcement for any particular crime action are weak too. And their law also support for the military government actions , no matter it was right or wrong actions. This is a difficulty for doing business in Myanmar, since their council law is unfair. Thus, the foreign investor need to follow the strict law in conducting business in Myanmar all the