4 Dec 2018
MYANMAR: Investment Protection Agreement with China and Hong Kong
Myanmar has signed an Investment Promotion and Protection Agreement (IPPA) with China and nine other countries, including four fellow ASEAN nations – Laos, Philippines, Thailand and Vietnam. The agreement is intended to assure the signatories that Myanmar is a safe investment destination, a crucial perception as the government looks to drastically up local FDI levels in line with the aims of its newly-unveiled Myanmar Investment Promotion Plan 2018 (MIPP).
A bilateral IPPA between Myanmar and Hong Kong has also been agreed, which is said to build on the country’s commitments under the terms of the multilateral Investment Agreement, which was signed alongside the Hong Kong, China – ASEAN Free Trade Agreement (HKAFTA). The latest agreement, which comes into effect as of 1 January 2019, guarantees non-discriminatory treatment for Hong Kong-origin investments in a number of non-service sectors, as well as official protection for all other such investments.