Myanmar woos investments in infrastructure, transport and energy
With the recent enactment of the investment law and lifting of sanctions, Myanmar has become friendlier to foreign investment, particularly in infrastructure, transport and energy, according to its state investment agency. The Myanmar Investment Law was passed on Oct. 18 by combining the country’s foreign investment law and citizen investment law, providing income tax exemptions of up to seven consecutive years to outside investors, operating in underdeveloped regions. When the law comes into effect in April next year, various regulations will be eased to the favor of investors, the Myanmar Directorate of Investment and Company Administration highlights. To elicit Korean investment, a delegation of Burmese officials from the investment agency and ministries of construction, transport and communications, and energy and electricity came to Korea last week.
