The Myanmar Investment Commission (MIC) has simplified, shortened and sped-up the way foreign investments (especially in the area of manufacturing or infrastructure building) are approved under the new Myanmar Investment Law and the Myanmar Investment Rule that were passed on 18th Oct 2016 and 30th March 2017 respectively. Minimum investment need to be at least USD 100,000 to be considered.
Investors with MIC approval can enjoy the following rights and protections:
- 3 to 7 years corporate tax holiday depending on the region that you are investing in.
- Exemptions from import tax, export tax and custom duty for approved manufacturing activities
- Right to use land on a long term basis (up to 70 years on a case by case basis)
- Right to employ expatriates
- Right to acquire an import or export licence for the product manufactured in Myanmar
- Investment guarantee against expropriation
- Right to transfer of funds out of the country
Any investment that create jobs for Myanmar people like for example export-oriented manufacturing such as garment manufacturing; or manufacturing that will lead to import substitution and reduction of import of essential commodities for the country; investment that will upgrade the infrastructure of Myanmar like building of road, bridge, waste treatment plant or power plant; upgrade soft infrastructure such as the education & health care system and create technology transfer are strongly welcome by the MIC.
The following are the list of promoted activities that the MIC would look favorably on:
- Agriculture and its related services (except cultivation and production of tobacco and virginia)
- cultivation of crops, variety of beans and oil-bearing crops except paddy
- cultivation and production of paddy
- cultivation of vegetables, cucumber, roots and tubers
- cultivation of sugarcane
- cultivation of fiber plant (cotton, jute, roselle fiber and other fiber plants)
- cultivation of annual crops
- cultivation of grapes (perennial crops)
- cultivation of tropical zone and temperate zone fruit (cultivation banana, mango, durian, rambutan, papaya, pineapple, dragon fruit, tamarind, and other tropical and temperate zone fruit such as custard apple, jackfruit,
- mangosteen, longan rambuten, avocado, fig, date palm.)
- cultivation of lemon, lime (cultivation of pomelo, sweet lime,
- lemon, lime, orange and other kinds of lime and lemon)
- cultivation of nuts (guava, palm, damson, apple and lychee, and cultivation other nuts like pear)
- Cultivation of other trees and bush fruits and nuts
- cultivation of oil-bearing crops
- cultivation of cordial plants (cultivation of coffee, tea, coco and other cordial plants)
- seasoning plants, scented plants, inhalant and herbal plants (cultivation of pepper, sweet chili, spicy chili, nutmeg, ginger, turmeric and other seasoning plants)
- Growing of other perennial crops
- reproduction of plants
- Support activities for crops production
- Post-harvest crops activities
- modification of seeds to reproduce plants
- service for weeding and disinfecting insects
- service for harvesting the crops with machines
- service for grinding and producing crops
- service for having water for crops
- service for drying crops
- service for storage of farm-crops
- service for laboratory test on farm-crops
- service for soil-test
- service for renting the machines for agriculture
- establishing the infrastructure for whole-sale market for agricultural products
- services to support cultivation and production of crops (service for crops after harvesting period, service for production of
- seeds, other services)
- Plantation and conservation of forest, and other businesses with forest
- Forest plantation
- Production of teak
- Production of rubber wood
- Carried out of forest and forest plantation with contract system
- Livestock production, breeding and production of fishery products, and its related services
- Dairy cattle farming, reproduction and production
- Farming of horse and other equine
- Farming, reproduction and production of sheep and goats
- Farming, reproduction and production of pig
- Farming, reproduction and production of poultry
- Farming of other animals
- Mixed farming
- Support activities for animal production
- Breeding and production of pearl
- Breeding and production of fresh water and marine living being
- Manufacturing (Except manufacturing of cigarette, liqueur, beer, and other harmful products to health)
- Slaughtering, processing and packing of meat (except chicken, duck, birds cultured in house)
- Slaughtering, processing and packing animals for egg or meat
- Producing, processing and freezing fish and fishery products
- Production of canned fish
- Value-added production of shellfish and mollusc such as prawn and crab
- Value-added production including production of fish-slice
- Production of seaweed and moss, etc.
- Production of Animal medicines
- Processing the vegetables and fruits for long-term storage
- Production of canned vegetable and fruit
- Production of edible oil and fat from other vegetables and animals not expressly specified
- Production of edible oil and fat from vegetables
- Production of bread and food from coconut oil, kernel and coconut
- Production of palm oil
- Production of maize oil
- production of edible oil and fat from animals
- Production of edible oil and fat from other vegetables and crops not expressly specified (nut which could produce fat,
- production of food and powder from crop seeds, production of margarine, production of similar mixed foods, production of mixed fat to be used for frying
- Production of fresh milk and dairy product
- Production of milk powder, sweetened creamer
- Production of other dairy product
- Grinding the crops (except rice and maize)
- Grinding rice/maize and production of rice-flour/ maize flour
- Bakery
- Production of sugar
- Manufacturing of Cocoa, Chocolate and sugar confectionary
- Manufacturing of macaroni noodles, biscuit, dry cake and food with flour
- Production of prepared meals and dishes
- Production of coffee, Tea and Traditional Medicinal Plants
- Production of seasoning, sauce, other objects used for cooking (production of seasoning, sauce and pepper; production of food including mayonnaise, mustard, rice- flour; production of mustard, rice-flour, vinegar; production of emulated honey with smoked sugar; squeezing meat, fish, shellfish or mollusc; production of edible salt such as iodine salt; production of energy drink)
- Production of animal feed
- Production of flaked wood (production of wood-based products such as plywood, fibre board (horizontal), vertical board (wood piece))
- Production of finished wood products for buildings
- Production of boxes with wood
- Production of other objects with wood (production of products with raw materials such as cork, hay, water hyacinth, dried banana tree by folding many layers, twisting, entwining and weaving)
- Making furniture with wood (including bamboo and cane)
- Production of soap, soap powder, perfume and cleaner materials
- Spinning, weaving, dying and finalizing
- production of rope, varieties of rope and net
- Production of clothes
- Production of women’ underwear
- Production of varieties of hat
- Production of varieties of bags including baggage, hand bag and haversack
- Production of sport items
- Production of varieties of shoe
- Production of finished leather products
- Production of leather baggage and hand bags
- Processing and production of wool and fur
- Manufacturing of varieties of plastic products
- Manufacturing of products for household and personal use
- Manufacturing of pulp, paper and paper board
- Production of fertilizer and Nitrogen compound
- Production of insecticide and chemical products to be used in farming
- Production of fibre (emulated fibre)
- Production of medicine, chemical products for medicine and botanical products
- Manufacturing the varieties of tyre
- Production and revision of rubber tyre and tube
- Production of concrete, cement, limestone, brick, ceramic and plaster
- Manufacturing of construction materials
- Manufacturing of Plastic products for construction business (tank, water containers, reservoirs)
- Production of iron and steel
- Production of refine metal except machine and mechanical equipment
- Manufacturing of jade (fine) and jewellery
- Manufacturing of computer, electronic and optical products
- Manufacturing of electric motor, generator (generating electricity), transformer(diode), electricity distributing and control apparatus
- Manufacturing of electricity distributing and control apparatus
- Manufacturing of consumer electronics (manufacturing of video, TV equipment, manufacturing of broadcasts studio equipment)
- Manufacturing of telecommunication equipment (production of telephone, fax, wireless, private branch exchange)
- Manufacturing of electronic indicator and other components
- Manufacturing of data cable for communication business
- Manufacturing of batteries and accumulators
- Manufacturing of wiring and wiring devices
- Manufacturing of aluminium and related materials
- Manufacturing of glass and glass products
- Manufacturing of glass fiber
- Manufacturing firming machines
- Manufacturing and installation of different types vehicles
- Production of bodies (coachwork) for motor vehicles and trailers
- Production of vehicle related fixtures and parts of machines
- Production of motorcycles (production of motorcycles, engine and spare parts)
- Production of machinery and equipment
- Production of general-purpose machinery
- Building of ships and floating structure
- Building of pleasure and sporting boats
- Production of railway locomotive, carriages, railway road frame and rolling stock
- Manufacturing of aircraft, crafts for aviation and related fixtures
- Manufacturing and selling of fuselage, engine, parts and related fixtures
- Production of Petroleum chemical items
- Production of chemical items
- Manufacturing business based on rubber
- Production of engine oils
- Production of Traditional medicine
- Production of medical equipment and supply
- Establishment of industrial zones (For the establishment of industrial zone, the developer shall construct, to be an appropriate ratio of the industrial zone, road and open space, water supply, electricity, hospital or clinic, administrative office, fire station, mechanical institute, park area, industrial hazardous waste management and industrial area in accordance with the standards of zone.)
- Establishment of new urban areas. (For the establishment of new urban areas, the developer shall construct, to be an appropriate ratio of the urban area, road and open space, water supply, electricity, hospital or clinic, administrative office, fire station, school, market, telecommunication area, and park area in accordance with the standards of urban area.)
- City development activities
- Water supply
- Water supply through waste water purification
- Waste collection
- Building and leasing of the affordable housing
- Public transport in/out bound of the city
- Construction of road, bridge and railway line
- Construction of new highways and the bridges on those roads
- Construction of railway line
- Construction of flight runway
- Upgrading the bridges and highways, and construction of tunnels
- Construction of seaport, river port and dry port
- Management, operation and maintenance of airport
- Maintenance of aircrafts
- Supply and transport services
- Public transport with train
- Train cargo transport
- Train cargo transport with container
- Public transport by road
- Services for storage of cargo by road
- Inland water transport
- Cargo service by inland water transport
- Domestic air transport for passengers
- International air transport for passengers
- Services for constructing and hiring warehouse, silos and tank
- Establishment of cold chain
- Service for packing the goods
- Power generation, transmission and distribution
- Production of renewable energy
- Power generation, transmission and distribution by using solar power, wind power and underground thermal power
- Engineering services for power generation and transmission by using solar power, wind power and underground thermal power
- Telecommunication businesses
- Installation of fibre pipeline, telecommunication and power transmission line,
- and construction of telecommunication tower
- Business related to regional fibre pipeline
- Telecommunication services
- Education services
- Private schools
- Schools which apply international curriculum
- Technology and vocational institutes
- Higher education services
- Sport education services
- Training for civil aviation
- Training and developing health service support human resources
- Health services
- Hospital service
- Medical laboratory service
- Traditional hospital service
- Private clinic service
- manufacturing of Veterinary Medicine
- Information technology services
- Service for information and technology infrastructure
- Software development
- Hotel and tourism
- Providing services by construction of hotels and resorts
- Transport services for tourists and sight-seeing
- Eco-tourism business
- Science research development business
- Science research and development projects for agriculture and breeding
- Research for medical education and medicine
- Research for Industrial development, engineering and technology
- Research for post-harvesting technology
- Preliminary research on agricultural science (services for practicing the agriculture, technology, crops nursery, forest plantation, animal husbandry, fish culturing
- Research on traditional medicine and laboratory service
- Research on geology science
- If your intention is just to run a small service or consultancy business with very little overhead and do not require an import or export licence then all you need is to incorporate a limited liability private company, there is no need to apply for a MIC licence. Click here to learn more.
- If you are a Singapore registered company you can get up to 70% funding from Enterprise Singapore for market entry into Myanmar. To learn more click here.
How to submit a MIC Application
If you have question about which MIC scheme your investment proposal should come under please fill up the form below. We understand that what you submit below is just a bare bone skeleton draft – we will come back to you with more questions to guide you through your investment proposal to make it more substantial.
