Myanmar government has implemented the new Myanmar Investment Law on 1 April 2017. The new law was enacted with reference to the old investment law. It was passed by Pyidaugsu Hluttaw (Assembly of the Union of Myanmar) and signed by President U Htin Kyaw in last October.
The new Myanmar Investment Law is available here (click "Myanmar Investment Law" at the right-hand side of the page, unofficial English translation). Time will judge if the new law is effective for attracting more investment inflows.
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