Crude oil, petroleum products, machinery and equipment, transport equipment, construction materials, fertilizer, cement, edible oil, food products, fabric and plastics resin are imported.

Investment opportunities in Myanmar

The Republic of the Union of Myanmar warmly welcomes responsible investors to seek and seize business opportunities to support sustainable economic growth. 

 The prioritize sectors to invest in Myanmar are as follows:

(a) Fertilizer manufacturing;

(b) Cement manufacturing;

(c) Iron and steel manufacturing;

(d) Agriculture and livestock farming and its related industries;

(e) Value-added foodstuffs manufacturing;

(f) Electric vehicle manufacturing;

(g) Pharmaceutical and medical device manufacturing;

(h) Public transportation services;

(i) Production of edible oilseeds, contract farming for edible oil crops, production of various types of edible oil. 

The investors investing in Myanmar may also attain the following supports in accordance with Myanmar Investment Law (2016), and may gain income tax exemption within 3 to 7 years depending on the location of the investment- 

(1) Investors may attain exemptions or reliefs from customs duty or other internal taxes or both on machineries, equipment, instruments, machinery components, spare parts, construction materials unavailable locally, and materials used in the business, which are imported as they are actually required, during the construction period or during the preparatory period of the investment business;

(2) Investors may attain exemptions or reliefs from the customs duty or other internal taxes or both on the importation of the raw materials and partially manufactured goods conducted by an export-oriented investment business for the purposes of the manufacture of products for export;

(3) Investors may attain reimbursement of customs duty or other internal taxes or both on imported raw materials and partially manufactured goods which are used to manufacture products for export;

(4) If the volume of investment is increased with the approval of the Commission and the original investment business is expanded during the permitted period of investment, investors may attain exemption or relief from the customs duty or other internal taxes or both on machineries, equipment, instruments, machinery components, spare parts, materials used in the business, and construction materials unavailable locally, which are imported as they are actually required for use in the business which is being expanded as such.

(5) Investors may attain exemption or relief from income tax if the profit obtained from the investment business that has obtained a permit or an endorsement is reinvested in such investment business or in any similar type of investment business within one year; 

(6) Investors may attain right to depreciation for the purpose of income tax assessment, after computing such depreciation from the year of commencement of commercial operation based on a depreciation rate which is less than the stipulated lifetime of the machinery, equipment, building or capital assets used in the investment; 

(7) Investors may attain right to deduct expenses which are incurred for the research and development relating to the investment businesses carried out within the Union and actually required for the economic development of the Union from the assessable income.

There are three entry mode to do business in Myanmar. For the investors who want to starting business, they require to contact with DICA(Directorate of Investment and Company Administration) under Ministry of Investment and Foreign Economic Relations (MIFER)and fulfill the requirement according to Myanmar Companies Law. For the investors who want to make investment through MIC (Myanmar Investment Commission), need to follow Myanmar Investment Law and also welcome the investors to invest in Special Economic Zones by following special Economic Zone Law.

Ministry of Investment and Foreign Economic Relations (MIFER)

Ministry of Investment and Foreign Economic Relations (MIFER) was formed on 19 November 2018 by Notification of President Office No. (87/2018) by comprising Directorate of Investment and Company Administration (DICA) and Foreign Economic Relations Department (FERD), the two departments formerly under the supervision of Ministry of Planning and Finance. The objectives of MIFER are to facilitate businesses by formulating and operating effective and efficient procedures between Ministries, region and state governments and central organizations in process to improve investments and to cooperate harmoniously between foreign direct investment (FDI), technical assistance, official development assistance (ODA) and investment from aboard and home.

To learn more about Ministry of Investment and Foreign Economic Relations (MIFER) by following link: https://mifer.gov.mm/en

DICA (Directorate of Investment and Company Administration)

As the primary interface between businesses and the government, the Directorate of Investment and Company Administration (DICA) is mandated to promote private sector development and boost domestic and foreign investment by creating a conducive investment climate. DICA is a key agency within the Government of the Republic of the Union of Myanmar’s Ministry of Investment and Foreign Economic Relations (MIFER). DICA is taking several functions as a regulator on investment and companies, as a company registrar, as an investment promotion agency and as the Secretariat of MIC.

Furthermore, DICA is also responsible for drafting, negotiating and approving bilateral Investment Promotion and Protection Agreements and serves as a focal department for all ASEAN investment related affairs (e.g. ASEAN Comprehensive Investment Agreement, bilateral ASEAN Investment Agreements).

Myanmar Companies Law was come into force on 1st August, 2018 by the announcement No. 48/2018 of President Office, and the MyCO Electronic Registry System was launched on 1st August 2018.

To learn more about DICA (Directorate of Investment and Company Administration )

by following link: https://www.dica.gov.mm/en

For Online Company Registration: https://www.myco.dica.gov.mm/

Myanmar Investment Commission (MIC)

Myanmar Investment Commission (MIC) is a government-appointed body with the aim of responsible investment development, protect the investors and their investments, and development of national economic environment through investments in accordance with the Myanmar Investment Law 2016. The MIC has duties to carry out investment promotion, facilitation, and coordination. Moreover, the MIC has the power to issue necessary notifications including the stipulation of investment promoted sectors and the types of restricted or prohibited investment activities, and permit or endorsement to investors. With fewer investment proposals is required formal MIC approval. An Endorsement process – whereby proposals are fast-tracked by being ‘endorsed’ by the MIC – is now also available to investors.

To learn more about how to apply for a MIC Permit, Apply for a MIC Permit | Directorate of Investment and Company Administration (dica.gov.mm)

 

Source: Ministry of Commerce of the Republic of the Union of Myanmar

Myanmar-China Border station’s Export/Import Trade conditions for the period of 1 April 2023 to 19 January 2024 are shown in the following table:

Source: Ministry of Commerce of the Republic of the Union of Myanmar

To learn more information, please visit to Ministry of Commerce (MOC) by following link: https://www.commerce.gov.mm

Myanmar Trade Promotion Organization (MYAN-TRADE)

Trade is an engine of economic of growth and trade Promotion activities play a significant role in trade development. Therefore, the Myanmar Trade Promotion Organization (MYAN-TRADE) was founded under the Ministry of Commerce in order to deliver effective trade promotion services in Myanmar. Myantrade is carrying out to enhance trade as its main functions such as National Export Strategy (NES), assisting Myanmar companies and entrepreneurs to participate in the local and international trade fairs to attain market assess for Myanmar products, issuing open general license (OGL) for the export and import of exhibit items to facilitate the shipment of exhibit items to the trade fairs and the following activities as well:

Myanmar International Trade Centre (MITC)

Myanmar International Trade Centre (MITC) of MYANTRADE was designed to assemble and exhibit Myanmar’s best products in one place, to promote Myanmar’s local products, to support private sector development activities, to assist in business facilitation in Myanmar, and to improve the capacity of Myanmar exporters.

It supports business-related services such as online business visa extension, business matching, business activities and forums, short-term trade-related trainings and seminars, organizing and counseling dealers attending international trade exhibitions on how to access new markets and assisting them in seeking new markets, information collection and dissemination in the field of international marketing, opening the exporter help desk and doing business help desk.

The Yong Exporter Club is one of the key functions of MITC which promotes country’s export sectors with collaborations of stakeholders and government sector. It gives assurance that Myanmar products and services are made in Myanmar with Myanmar Brand.

To learn more about Myanmar International Trade Centre(MITC) by following link: https://mitc.myantrade.gov.mm 

Trade Centers

With the aim of encouraging trade development by providing services to entrepreneurs, disseminating trade information and by linking international and domestic enterprises. These trade centers are disseminating trade and business information as well as providing services for trade promotion. Entrepreneurs, companies, trade associations, exporters, producers and farmers can benefit from the trade-related trainings, workshops and seminars on export promotion services and operations and trade fairs arranged by the trade centers.

Disseminating Trade Information

Market Newsletters are issued weekly, monthly and market research for potential products is also carried out. Trade related information for local and foreign organizations’ news, trade policy and MOC notifications, details of local and overseas trade fairs and exhibitions, market prices and trade news, potential export commodities from the States and Regions, information of the National Export Strategy(NES) can be found at MYANTRADE’s website:  

www.myantrade.gov.mm

The Virtual Markets Room

The Virtual Markets room also provides as online Marketplace in MYANTRADE’s website. Therefore, please visit to see Myanmar products through the following link: https://myantrade.gov.mm/marketplace.

Market create digital ecommerce platform

Myantrade creates Digital e-commerce platform by aiming to make better trade facilitation and to get more buying and selling information between domestic sellers and foreign buyer in timely manner. So, foreign buyers can go and make registration through https://www.my-etrade.org/register or the following QR code:

By making registration, buyers can get his/her own Digital Trade Office. They can declare their desire products that they would like to purchase from domestic companies, get the products’ information of Myanmar companies and communicate with them and will easily accept the information related to the Trade Fair and Trade Information.