Myanmar introduces new companies law to attract foreign investment

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Myanmar authorities will enforce a new Companies Law from Aug. 1 next year, aiming at attracting more foreign investment, according to local authorities.

Paving way for more foreign investment opportunities, the promulgation of bylaws and application of the law as well as working on the operating manual for online registration will be done by the last week of July next year, the Directorate of Investment and Company Administration (DICA) said in a press briefing Wednesday.

The new law will facilitate rapid registration for companies using the online registration system.

Members of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) and economic experts called for speedy enforcement of the law to improve foreign investment environment.

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