Hashidate Law Office has been deeply involved in helping Japanese enterprises expand into Myanmar, having visited Yangon with Japanese enterprises on multiple occasions, and was one of the first law firms to act as a bridge between Japan and Myanmar. Over the course of 15 years, we steadily acquired experience in Myanmar, particularly in the nuances of dealing with the administration currently in power.
Accordingly, our firm has built close, cooperative relationships with law firms in Myanmar, and has established good relations with various government officials, all of which has enabled us to provide the best service to any clients intending to expand their business into Myanmar. Recently, we took the lead in a number of investment transactions occurring in Myanmar (including the creation of joint ventures and the establishment of a local co-op) and guided them to successful conclusions, and have likewise been involved in infrastructure development transactions in the country initiated by various Japanese enterprises, hotels, and construction firms, including instances involving the transfer of technology.
With this practical experience in hand, we examined the Japan-Myanmar Investment Treaty, which went into effect on August 7, 2014. In conjunction with this treaty, the Myanmar Investment Commission (MIC) has enacted several new regulatory notices, while restrictions on foreign investment have been reduced by half, limited now to about 100 business fields where before investment was restricted with respect to 200 business fields.
Here, we will review methods for expanding into Myanmar pursuant to the “Foreign Investment Law”, and will consider the influence of the Japan-Myanmar Investment Treaty on these methods.