InfoAnda - Myanmar state media details new foreign investment law |

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Netflix, Discovery in streaming deal for TV shows | | 21 September 2011
U.S. Retail Sales Fall In December, Down In 2008 | 15 January 2009
Nonprofits team up to bring mammograms to the bank | 10 October 2009

Video thought to show American held in Afghanistan | 8 December 2010

Forum Views () Forum Replies ()

Read more with google mobile : Myanmar state media details new foreign investment law |

Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Technology Media Small Business Legal Deals Earnings Social Pulse Business Video The Freeland File Aerospace & Defense Investing Simplified Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB Dividends World World Home U.S. Brazil China Euro Zone Japan Mexico Russia India Insight World Video Reuters Investigates Decoder Politics Politics Home Election 2012 Campaign Polling Supreme Court Politics Video Tech Technology Home MediaFile Science Tech Video Tech Tonic Social Pulse Opinion Opinion Home Chrystia Freeland John Lloyd Felix Salmon Jack Shafer David Rohde Nader Mousavizadeh Lucy P. Marcus Nicholas Wapshott Bethany McLean Anatole Kaletsky Edward Hadas Hugo Dixon Ian Bremmer Lawrence Summers Susan Glasser The Great Debate Steven Brill Reihan Salam Frederick Kempe Christopher Papagianis Mark Leonard Breakingviews Equities Credit Private Equity M&A Macro & Markets Politics Breakingviews Video Money Money Home Tax Break Lipper Awards 2012 Global Investing MuniLand Unstructured Finance Linda Stern Mark Miller John Wasik James Saft Analyst Research Alerts Watchlist Portfolio Stock Screener Fund Screener Personal Finance Video Money Clip Investing 201 Life Health Sports Arts Faithworld Business Traveler Entertainment Oddly Enough Lifestyle Video Pictures Pictures Home Reuters Photographers Full Focus Video Reuters TV Reuters News Article Comments (0) Video Full Focus Photos of the week Our best photos from the past week. Full Article Download our Wider Image iPad app Pictures of the month: October Follow Reuters Facebook Twitter RSS YouTube Read New Congress may have old look after election | 8:57am EDT Facebook's Sandberg sells $7.4 million in stock 02 Nov 2012 Power returns to lower Manhattan, but many waiting | 11:45am EDT U.S. taps reserves to calm New York, New Jersey fuel "panic" post Sandy 02 Nov 2012 Syria army quits base on strategic Aleppo road | 02 Nov 2012 Discussed 189 Jobless rate seen rising, offering Obama no relief 164 Fuel scarce, East Coast struggles to recover 96 Race is tied, but most think Obama will win: Reuters/Ipsos poll Sponsored Links Myanmar state media details new foreign investment law Tweet Share this Email Print Related News Myanmar parliament approves foreign investment bill Thu, Nov 1 2012 Myanmar foreign investment bill in parliament again Thu, Nov 1 2012 Petronas rejection may hurt Canadian stocks Mon, Oct 22 2012 Myanmar to be invited to major U.S.-Thai military exercise Fri, Oct 19 2012 Analysis & Opinion 2013: The year of tax reform Employers hold the hammer when it comes to office politics Related Topics World » Myanmar » Related Video Child labourers rebuild Myanmar 4:31am EDT Myanmar's President Thein Sein walks out from his first news conference since his reappointment as head of the ruling party Union Solidarity and Development Party (USDP), at the presidential palace in Naypyitaw October 21, 2012. Credit: Reuters/Soe Zeya Tun By Aung Hla Tun YANGON | Sat Nov 3, 2012 6:20am EDT YANGON (Reuters) - Myanmar's new foreign investment law allows overseas firms to fully own ventures and offers tax breaks and lengthy land leases, state media said on Saturday, releasing details of legislation passed by parliament this week after a long delay. The law, approved by President Thein Sein on Friday, had gone back and forth between the legislative and executive branches since March in a tussle involving a government eager to attract foreign investment, tycoons determined to protect their monopolies, and small businesses keen not to be shut out. Thein Sein took office in March 2011 at the head of a quasi-civilian government that brought almost 50 years of military rule to an end. He has undertaken economic and political reforms that have persuaded Western countries to suspend sanctions and prompted an upsurge of interest in the country from multinational firms, which see potential in Myanmar's abundant resources and a primitive, low-cost economy bordering India and China. Most major firms have been waiting to see the new law before committing significant funds. The details in Myanmar-language state newspapers said joint ventures between foreigners and Myanmar citizens or the government would be permitted with any stake ratio agreed between the partners. Foreigners can still own 100 percent of businesses without the need for a local partner, as in the previous law dating from 1988. But there could be restrictions in some areas. A previous draft had said foreigners would only be able to hold a maximum 50 percent of a firm in certain sectors deemed sensitive, including agriculture, and that foreigners would have to hold at least 35 percent of any start-up joint venture. A parliamentary source told Reuters this week that additional regulations covering the restricted sectors could follow later. One article of the new law says the Myanmar Investment Commission can allow foreign investors into the restricted sectors with the approval of the government, in the interests of the people and the country. LONG LEASE Under the new law, foreign investors can lease land from the government or from authorized private owners for up to 50 years, depending on the type and size of the investment, and the deal can be extended twice, for 10 years each time. The old law did not define land lease periods but in practice contracts tended to cover 30-year terms, extendable for two periods of five years. Foreign firms may be entitled to a tax holiday for the first five years of operation and other forms of tax relief may be available depending on the investment, if deemed in the national interest. The old law allowed for a three-year holiday. Foreign manufacturing companies may be entitled to tax relief of up to 50 percent on profits made from exports. Tax exemption or relief can be granted providing it is reinvested in the business within one year. The new law states that output can be used for "both export promotion and import substitution". The old law stressed export promotion. Like the old law, the new legislation guarantees that an enterprise formed under this law will not be nationalized during the contract term or its extension. A previous version had raised concern by also saying that, if a company were nationalized in the public interest, compensation would be offered. This clause has now been dropped. However, one clause says an enterprise allowed under the law will not be stopped "without sufficient reason" before the contract expires. As under the old law, foreign investors will be entitled to withdraw capital on expiry of the contract in the foreign currency the original investment was made in. The new law says it supersedes the old one enacted in November 1988 and that foreign firms who set up business under the old law would now be governed by the new legislation. (Writing by Alan Raybould; Editing by Sanjeev Miglani) World Myanmar Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Connect with Reuters Twitter Facebook LinkedIn RSS Podcast Newsletters Mobile About Privacy Policy Terms of Use AdChoices Copyright Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Other News on Saturday, 3 November 2012
U.S. renews sanctions, Sudan criticizes decision |
Sudan oil state rebels say repulsed government advance |
Israeli official sees shocking dictatorship in Egypt |
Inquest must see if UK shares spy-death blame-lawyer |
Ukraine opposition complains of stolen seats |
Georgia's new government to cut president's funding in 2013 |
Uganda says to pull out troops from Somalia over Congo charges |
Google's Android software in 3 out of 4 smartphones |
Over 20 million tweets sent as Sandy struck |
U.S. investigators to get access to Benghazi suspect |
U.S. renews sanctions, Sudan criticizes decision |
North Korea says proud of its human rights record |
Uganda says to pull out troops from Somalia over Congo charges |
Ukraine opposition complains of stolen seats |
Twitter CEO lobbied against exiling Dorsey in 2008: investor |
Facebook's Sandberg sells $7.4 million in stock |
New Jersey's own Springsteen and Bon Jovi sing for Sandy victims |
Photojournalists Witness war zones in new HBO series |
Syrian rebels attack air base to secure north-south corridor |
Hungary says EU cut in its funds would be a shame |
Nigeria security forces kill 13 in raid on kidnappers |
Gunmen kill three policemen in Egypt's Sinai: security sources |
Suicide bombers hit Somali capital, three dead: witnesses |
Cyprus says not aware troika judge latest proposals as lacking |
Uganda says to pull out of Somalia if no changes to Congo report |
Myanmar state media details new foreign investment law |
EU gives $200 million for security, education in turbulent Somalia |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01