On November 25, 2021, the Myanmar Investment Commission (MIC) issued a list of investment sectors that will receive priority attention in order to encourage national development and state building. The investment activities that MIC will prioritize are the following:
- Fertilizer manufacturing
- Cement manufacturing
- Iron and steel manufacturing
- Agriculture and livestock farming and related industries
- Value-added manufacturing of foodstuffs
- Electric vehicle manufacturing
- Pharmaceutical and medical device manufacturing
- Public transportation services
Both foreign investors and local investors may invest in these sectors, and the MIC, ministries, and relevant state and regional governments will provide necessary assistance to the investors under the Myanmar Investment Law 2016.
For more details on the new requirements, please contact Tilleke & Gibbins at [email protected] or +95 9 772 440 001.