On January 31, 2013, the Ministry of National Planning and Economic Development released the new Implementing Regulations for the Myanmar Foreign Investment Law No. 21 (FIL No. 21). FIL No. 21, which repeals the previous 1988 Law on Foreign Investment, on November 2, 2012. FIL No. 21 introduces certain improvements compared to the 1988 Law on Foreign Investment.
The Implementing Regulations serve to clarify the restricted investment activities and provide additional information and detail for foreign investors. They are divided into two parts: Notification 1/2013 and Notification 11/2013. Notification 1/2013 lists out the business activities allowed for foreigners and is divided into four schedules. Notification 11/2013, on the other hand, provides more specifics on the other aspects and procedures of FIL No. 21 as well as lists the economic activities that are only open to Myanmar nationals.
