On 9th April 2020, the Myanmar Investment Commission (“MIC”) published its announcement on reduction of investment application fees to reduce investment costs for investors and to encourage investments during the Covid-19 outbreak effective from 20th April 2020 until the Government announces the end of the Covid-19 outbreak.  The reduced fee rates are for 26 kinds... Read More

On 9th April 2020, the Central Bank of Myanmar (“CBM”) announced that the Licensing Committee (“LC”) of the CBM has granted preliminary approvals for seven foreign banks to be prepared for commencement of business operation in Myanmar and an approval to a foreign bank to hold capital in a domestic bank. The preliminary approvals are... Read More

On 13th November 2019, the Microfinance Supervisory Committee of the Ministry of Planning and Finance issued its Directive No. 2/2019 on Customer Due Diligence for Anti-Money Laundering and Combatting Financing of Terrorism (“Directive”) for microfinance institutions (“MFIs”) operating in Myanmar to comply.  The MFIs are required to conduct customer due diligence (“CDD”) and they are... Read More

On 3rd December 2019, the Consumer Protection Committee issued its Directive No. 2/2019 on the labeling requirements of the 8 groups of products listed below effective from 16th March 2020. –   Group A: Food products; –   Group B: Household products; –   Group C: Kids products; –   Group D: Telecommunication products; –   Group E: Pharmaceutical and... Read More

From the Emergency Decree on Digital Asset Business Operation B.E. 2561 (2018) became effective on 14th May 2018 to 30th December 2019, the Securities and Exchange Commission (“SEC”) has issued 5 digital asset exchange licenses, 3 digital asset broker licenses and one  digital asset dealer license.  The SEC also granted approvals to 3 ICO portals. Due to... Read More