Myanmar Dramatically Cuts List of 92 Activities Requiring a Local Partner Down to 22

In a move to expand the potential opportunities for foreign investors, the list of activities a foreign investor is allowed to carry out in Myanmar only under a joint venture (“JV”) with a Myanmar citizen or company, has been cut significantly.

Highlights of this note

• Big Winners are Retail, Petroleum Products, Real Estate, Media and Healthcare
• Myanmar Opens Up for Big Retail. Again.
• Real Estate: No More JV for Commercial or Office Developments
• No More JV with MOEE for Petroleum Product Businesses
• Pharma and Healthcare: No More JV Needed for Clinics
• Foreign Investment in Print and Broadcasting Media without JV
• Manufacturing: Packaging and Pharma No More JV, But Cosmetics and Soaps Now Needs JV
• Agriculture: Cap of 49% on Foreigners for Certain Activity Removed
• New Use of Industrial Sector Classifications: How to Interpret?