Other Business Information
Myanmar is endowed with abundant natural and human resources and the Government offers opportunities for investors. There is great potential in marine products and timber processing industries.
The foreign investors can participate actively in exploiting the natural and human resources accordingly with the Foreign Investment Law (FIL) and procedures. Foreign Investment Policy aims to increase and expand exports, to acquire high technology, to create employment opportunities and to develop energy conserving measure, etc The Law provides attractions to foreign investors in the form of tax incentives. There is also a State guarantee against nationalization.
It is eligible to repatriate profits and to withdraw the legitimate assets on winding up of the business. Among the economic sectors opened for foreign investment is agriculture, building materials, chemicals and chemical products, forestry, foodstuff inductors, garment, household goods, iron and steel, leather products, mining, pulp & paper etc..
Foreign investment can be made in the form of either a wholly or partly owned business or of a joint-venture with local partner.
For a sole proprietorship, foreign investor should bring in one hundred percent capital.
There are three steps in the procedure for submitting foreign investment application before applying for registration.
For the investment of Myanmar Citizens, there is Myanmar citizen investment law and the Procedure which aim to promote and expend export to promote development of technology to open up more employment opportunities to contribute towards regional development.
Business organization shall register at the Company Administration Department of the Directorate of Investment and Company registration.
Doing business in Yangon, is one of the most valuable assets of business organization in this country. Rules and regulations regarding trade policies are change frequently.
Future Trade Routes
Myanmar locates between China and India, two huge countries, its location become strategic location for transit trade un recent years. ad all possible routes for transit trade are drawn on the map. But there are more future routes to be extended for business and trade.
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