Consultation on investment rules highlights land issues
A public consultation on the regulations that will accompany Myanmar’s new investment law threw the spotlight onto the country’s complicated land legislation once again. But although they acknowledge the barriers that land rules present to potential investors, officials in charge of the investment law regulations say there is little they can do. The Myanmar Investment Law was passed in October last year, replacing two older pieces of legislation that laid out separate rules for foreign and local investors and providing the government with a new framework to vary investment incentives across different states and sectors. Much of how the law will work in practice will be clarified through accompanying rules and regulations. The government has instructed the Myanmar Investment Commission and Directorate of Investment and Company Administration to have these rules drawn by the end of March, according to U Aung Naing Oo, MIC secretary and DICA director general.
