Published on Wednesday, 28 November 2012 21:41
Preparations are being made to draft a by-law for the Myanmar Foreign Investment Law recently enated on November 2, 2012.
Deputy Minster Dr. Pwint San of the Ministry of Commerce led a meeting to draft the by-law in coordination with respective officials from different departments and those from the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry on November 24.
The by-law, he said, will add more benefits to the country and to trade and investment sectors.
The foreign investment law has 20 chapters, including provisions on submitting proposals, tax exemptions, foreign capital, penalties and addressing disputes.
After the enactment of the law, it has received positive response from foreign investors, as it guarantees more opportunities for tax exemption and relief and flexibility in the investment ratio in joint ventures.
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