Myanmar's New Foreign Investment Law Overview

2. Foreign Investment Law (FIL) ODFDL LEGAL & TAX Myanmar's New Foreign Investment Law ("FIL") was passed on November 2, 2012. It replaces the MFIL of 1988. Generally the FIL is optional except in the case of a) major infrastructure deals 2) manufacturing and 3) State Owned Enterprise Law of 1989 ("SOE Law"). With FIL approval comes notification issued under the SOE Law to grant an exemption. Where the FIL is optional, the reason investors use the FIL is to get the benefits, like land rights and the tax holiday, discussed later. Administration by the Myanmar Investment Commission (MIC). 23

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