7 Dec 2016
MYANMAR: Overseas Joint Venture Partners Freed From Investment Restrictions
Overseas investors engaged in joint venture businesses with Myanmar companies will no longer have their expenditure restricted to the initial sum they declared to the country’s central bank. This removes the obligation to register any additional sums of foreign currency required for investment purposes.
The move forms part of a larger initiative of the Myanmar government designed to nurture joint ventures between local companies and overseas partners. Back in July 2016, in a related move, joint venture companies were authorised to import and trade in construction materials. For further details, see MYANMAR: Overseas Joint Venture Businesses Approved to Import Construction Materials.