You are using an outdated browser and your browsing experience will not be optimal. Please update to the latest version of Microsoft Edge, Google Chrome or Mozilla Firefox. Install Microsoft Edge

August 25, 2018

Myanmar: DICA Announces Anti-Corruption Code of Ethics for Companies

Subscribe to Updates

On August 3, 2018, Myanmar’s Directorate of Investment and Company Administration (DICA) issued an announcement enacting an anti-corruption code of ethics intended to prevent corruption in both public and private transactions.

The code of ethics prohibits all companies and bodies corporates incorporated under the Myanmar Companies Law (2017) from engaging in the following activities in the course of their business:

  • Providing and offering, directly or indirectly, gifts, entertainment, and other preferential treatment;
  • Providing, directly or indirectly, necessary assistance in travelling;
  • Conferring, directly or indirectly, a financial advantage to get a business opportunity;
  • Offering, directly or indirectly, charitable donations;
  • Conferring, directly or indirectly, political contributions; and,
  • Providing, directly or indirectly, assistance to get employment in companies or organizations for personal interest.

The announcement states that DICA “encourages all companies and body corporates … to respect and abide [by] the anti-corruption code of ethics.” While the extent to which this notification is strictly binding remains in question, and there are several ambiguities in the text that need to be resolved, it is clear that all Myanmar-incorporated entities should comply with the anti-corruption code of ethics, in all transactional dealings, with immediate effect.

Related Professionals

Practices

Compliance and Investigations

Location

RELATED INSIGHTS​ 

February 14, 2013
In association with Lex Mundi, Practical Law Company has now published the latest edition in its series of guides on how to do business in jurisdictions worldwide. The Thailand chapter, written by attorneys at Tilleke & Gibbins, provides an overview of the legal system and key laws for foreign companies doing business in the Kingdom. Presented in a question-and-answer format, the chapter examines the rules governing foreign investment, business vehicles, employment, tax, competition, intellectual property, marketing agreements, e-commerce, data protection, and product liability.
Read More
September 12, 2012
Recently, international attention has been focused on two significant changes in the Asia Pacific region that could profoundly alter the conduct of business and investment: the loosening of restrictions on foreign investment in Myanmar and the establishment of the ASEAN Economic Community (AEC), composed of Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.
Read More
September 5, 2012
The Report: Thailand 2012, published by Oxford Business Group, provides an in-depth analysis of different sectors of the Thai economy. Tilleke & Gibbins contributed the legal section of the publication, which examines how Thailand’s legal landscape fosters growth and foreign investment.
Read More
August 23, 2012
For two thought-provoking days—May 31 to June 1, 2012—Bangkok played host to the 21st World Economic Forum on East Asia, a first for Thailand. The arrangements for the event, which was staged at the swank Shangri-la Hotel on the banks of the Chao Phraya River, were made in early 2011 at the Annual Meeting of the World Economic Forum (WEF) in Davos, Switzerland, by former Prime Minister Abhisit Vejjajiva, whose unexplained absence from the event here was duly noted. Thai politics are not to be trifled with.
Read More