緬甸投資和公司管理局（DICA）：2023年緬甸投資指南

Investmentfor

Developuent!!

2023

yanmar

InvestmentGuide

MyanmarInvestmentGuide

2023

Imprint

Published:

September2023

Publishedby:

MyanmarInvestmentCommission

No.(1),ThitsarRoad,YankinTownship,

Yangon,Myanmar

Layoutby:

MyanmarInvestmentCommission

Copyright:

TextandLayout-MyanmarInvestmentCommission

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Contents

Page

1.CountryProfile

1.1Summary

1.2GeographyandPopulation

1.3LegalandJudicialSystem

1.4Economy

2.InvestmentOpportunities

2.1Summary

2.2Agriculture,LivestockandFisherySector

2.2.1AgriculturalIndustries

2.2.2LivestockIndustries

2.2.3FisheryIndustries

2.3Infrastructure

2.3.1Transportation

2.3.2PublicTransportationServices

2.4Power

2.5HotelandTourism

2.6Manufacturing

2.6.1FertilizerManufacturing

2.6.2CementManufacturing

2.6.3IronandSteelManufacturing

2.6.4Value-addedFoodstuffsManufacturing

2.6.5ElectricVehicleManufacturing

2.6.6PharmaceuticalandMedicalDeviceManufacturing

2.6.7ProductionofEdibleOil

2.7SpecialEconomicZones

3.ConductingBusinessinMyanmar

3.1Investment

3.1.1InvestmentRegistration

3.1.2InvestmentAssistanceandFacilitation

3.1.3MeditationProceduresforInvestment

3.1.4ExemptionsandReliefs

3.2Incorporation

3.3Insolvency

4.Trading

4.1ExportandImport

4.2UMFCCIRegistration

4.3IntellectualProperty

5.Finance

5.1BankingandFinancialServices

5.1.1FinancialInstitutionsinMyanmar

5.1.2Non-BankFinancialInstitutions

5.2Taxation

5.2.1IncomeTax

6.Labour

6.1EmploymentContract

6.2WorkingHoursandWages

6.3LeavesandHolidays

6.4SocialSecurity

6.5SettlementofLabourDispute

6.6RegulationsforForeignExperts

7.Conclusion

ContactInformation

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1.CountryProfile

1.1Summary

Myanmarisanagro-basedcountrywithfertilelandandabundantnaturalresources.Giventhelandscapeprofile,topographicdimensionsanddifferentclimaticareasofMyanmar,notonlyperennialplantsbutalsocropssuchasrice,pulsesandbeans,fruitsandvegetablescanbeeasilygrown.ThegovernmentisaimingtotransformMyanmar'straditionalagriculturaleconomyintoaproductiveandsustainableagro-economy.

Myanmarisknownforitsstrategicgeographicallandscape,borderswitheconomicallypowerfulcountries,longcoastlinewith1,385milesassociatedwithmaritimegateways,abundantnaturalresources,inexpensiveandhighqualityyounglabourforceandlinkagewithregionaleconomyandpotentialdomesticmarket.

1.2GeographyandPopulation

MyanmaristhesecondlargestcountryinSoutheastAsiaandhasatotallandmassof261,228squaremiles(676,577sq.km).Itstretches582miles(936km)fromeasttowestand1,275miles(2,051km)fromnorthtosouth.Itshares1,370mile(2,204km)borderwithChina,832mile(1,338km)borderwithIndiaand1,309.8miles(2,107km)borderwithThailand.

TheborderingcountriesofMyanmarincludeBangladesh,China,India,LaoPDRandThailand.Myanmar'sextensivecoastlinestretches

1,759miles(2,832km)longanditsaccesstosearoutestofacilitate

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increasedregionaltradegivesitthepotentialtobecomeatradingbridgebetweenChina,SouthAsiaandSoutheastAsia.

Myanmarisrichlyendowedwithnaturalresourcessuchasminerals,naturalgas,freshwaterandmarineproduce,aswellashavingplentifulforestsandvastquantitiesofuntappedarableland.

Myanmarisgeographicallydividedinto7Statesand7Regionswhichmake14majorterritorialdivisionsandNayPyiTawUnionTerritory,wherethegovernmentisseated.Myanmar'slevelofurbanizationremainslowerthantheSoutheastAsianaverage.

Asof2022,Myanmarhasanestimatedpopulationofover55million.AccordingthedataofCentralStatisticalOrganizationofMyanmar,thetotalof37.7millionpeople(asof2019)areincludedinworkingagepopulation.Amongtheworkingagepopulation,22.28millionpeople(asof2019)areparticipatedinlabourforceandthisnumberrepresents59.4percentofMyanmar'stotalpopulation.

Theformercapital,Yangon,isthecountry'scommercialcentreandisthemostpopulatedcityinMyanmarwithapopulationofmorethan8million,followedbyMandalayandNayPyiTaw.TheDeltaregioninthesouthandtheDryZoneinthecentralplainsarethemostdenselypopulatedregionsandtogethercontributeasignificantchunkofMyanmar'sGDP.Myanmar'surbanareasbringsignificantopportunitiesfornewsalesmarketsandconsumerproducts.

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Table(1)KeyFactsaboutMyanmar

OfficialName

TheRepublicoftheUnionofMyanmar

Capital

NayPyiTaw

(Establishedin2005;theformercapitalwasYangon)

Landmass

261,228es(676,577sq.km)

Coastline

1,759miles(2,832km)

Population

Over55million(2022estimated)

Populationgrowth

0.87%

Geography

Myanmarisdividedintothreedistinctgeographicalregions:theEasternHillRegion,theCentralValleyRegionandtheWesternHillRegio

Largestrivers

AyeyarwaddyRiver,SittaungRiver,ThanlwinRiver

andChindwinRiver

Climate

Tropicalclimatewiththreeseasons:

Summer(MarchtoMay)

RainySeason(JunetoOctober

ColdSeason(NovembertoFebruary

Localtime

GMT+6:30

Currency

MyanmarKyat(MMK)

Naturalresources

Naturalgas,petroleum,gold,jade,rubiesandothergem-stonescopper,tin,antimony,lead,zinc,silver,teakandothertimbers

Majorcrops

Rice,pulsesandbeans,sesame,maize,rubber,fruitsandvegetables

Majorethnicgroups

Kachin,Kayah,Kayin,Chin,Bamar,Mon,RakhineandShan

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1.3LegalandJudicialsystem

ThelegalsystemofMyanmarisahybridofcommonlawsystemandcivillawsystem,comprisingofcustomaryfamilylaw,codifiedEnglishcommonlaw,contemporarystatutorylawsandthepracticesofprecedents.

TheSupremeCourtisthehighestcourtintheUnionanditssubordinatecourtsincludeHighCourtsoftheRegion/State,Courtsoftheself-administeredDivision/Zone,DistrictCourts,TownshipCourtsandtheothercourtsconstitutedbylaw.Alllevelsofcourtshaveoriginaljurisdictiontoadjudicateallkindsofcivilcasesandthejurisdictionisdeterminedbasedonthevalueofthedisputeasbelow:

·TownshipCourts:upto10millionMMK

·DistrictCourts:upto3billionMMK

●HighCourts:over3billionMMK.

1.4Economy

TheGovernmentofMyanmarisimplementingallrounddevelopmentbyshapingastablemarket-orientedeconomicsystemandattractingandpromotingforeigninvestments.

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TheMyanmarInvestmentCommission(the"Commission"orthe“MIC”)prioritizestheinvestmentsectorswithagreatersupporttoinvestors’business-operationneeds:agricultureandlivestockfarmingandrelatedindustries,manufacturingoffertilizer,cement,ironandsteel,electricvehicle(EV),value-addedfoodstuffs,pharmaceuticalandmedicaldevice,publictransportation,andproductionofedibleoilseeds,contractfarmingforedibleoilcropsandproductionofvarioustypesofedibleoil.

MyanmarisamemberoftheASEANEconomicCommunity(AEC),whichcommencedoperationsattheendof2015.AECaimstostrengthenregionalcooperationandincreaseregionaltrade.Additionally,MyanmarisoneofthefirstmembercountriesthatearlyenteredintoforceoftheRegionalComprehensiveEconomicPartnership(RCEP)Agreement.ChinahasconveyedtheletterexpressingagreementwithMyanmarthatcomesintoforcestartingfrom1stMay2022.AccordingtotheagreedtaxrateapplicabletoASEANmembercountries,RCEPandAECwillprovideMyanmarwiththeopportunitytoestablishitselfasavitaltradehubandproductionbasebetweenASEAN,ChinaandIndia.

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Table(2)Myanmar'sEconomyataGlance

TRADE

Major

Exports

Riceandagriculturalproducts,pulses,maize,rubber,fishprawnandotheraquaticproducts,metals,oresandminerals,jade,forestryproducts,sugar,naturalgas,garments,

jewellery

Major

Imports

Cement,ironandsteel,constructionmaterials,vehicles,engines,machineryandparts,computers,telephoneand

communicationaccessories,rawmaterialssuchasflourplastics,petroleumproducts,glass,paint,chemicals,rubber,tyre,paperandconsumergoods?

Major

TradingPartners

Singapore,theUnitedKingdom,People'sRepublicofChina,Japan,HongKong(SAR),Thailand,theNetherlands,United

ArabEmirates,RepublicofKorea,India,theUSA

TRADEVOLUME

Exports

USD17,681.089million(FY2019-2020)

USD15,363.284million(FY2020-2021)

USD8,308.422million(FY2021-2022MiniBudget)

Imports

USD19,050.856million(FY2019-2020)

USD14,686.058million(FY2020-2021)

USD7,964.995million(FY2021-2022MiniBudget

GROSSDOMESICPRODUCT(GDP)

(FY2021-2022MiniBudget)

GDP

MMK75044.7billion

GDP

GrowthRate

2.4%

InflationRate

13.22%

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Public-PrivatePartnership(PPP)Projects(2018-2022)

·70MWElectricityGeneratingPowerPlantatShweTaung(IPP/BOT

·PhaungTawHydroPowerProject(20-28MW)

·ImplementationofOnlineApplicationSystemforRoadTransportationBusinessLicense

·ConstructionofGoteHteikBridgeProjec

·WaterSupplyProject(MyeikDistrict

·InternationalFishAuctionMarketandIndustrialZoneProject

Sowce:MinistryofPlamningandFinance,MinistryofCommerce

1Expor/mporrtStatusofMyanmarfromOctobertoJamuary,(2020-2021)FinancialyearpublishedbytheMinistryofPlanningandFinance,CentralStatisticalOrganizationofMvanmar(CentralStatisticalOrgancation(mm))dated15ahMarch2021.

2Export/ImportStatusofMyanmarfromOctobertoJanuary,(2020-2021)FinancialyearpublishedbytheMinistryofPlanningandFinance,CentralStatisticalOrganizationofMvanmar(CentralStatisticalOrgancation(mm))dated15ahMarch2021.

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2.Investment

2.1Summary

Opportunities

BeingadevelopingcountryinSoutheastAsia,variousfieldsofinvestmentopportunitiesareopenedforbothforeignandlocalinvestors,includingbutnotlimitedtoagricultureandlivestock,infrastructure,transportationandconstruction,hotelandtourism,manufacturingandservicesectors.

Despiteexperiencingoneoftheworsteconomiccontractionsinrecentpast,somesectorsinMyanmarhavestabilizedandrecovered,particularlyinthemanufacturingandmanufacturedexportssectors.Constructionactivityhasalsopickedup,asworkonseveralprojectshaveresumed.Ariseinmobilityatworkplaces,retailoutlets,andtransporthubshassupportedtheoverallactivities.

AsofJuly2023investmentdatabysectors,thepowersectoraccountedfor28.46percentofthetotalFDI.Itwasfollowedbytheoilandgas,manufacturingandtransportandcommunicationssectors.MICissuedtheinvestmentpromotedsectorsintheNotificationNo.13/2017.

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Chart(1)Investmentdatabysector

ServicesConstruction

Agrianlture

IndustrialEstate

Livestock&Fisheries

Mining

Hotel&Tourism

RealEstate

Tansport&CommunicationManufacturingOilandGas

power

4.40%

0.11%

0.48%

0.67%

1.04%

3.13%

3.53%

7.08%

12.27%

14.36%

AsofJuly2023

26.47%

28.46%

Souce:DirectorateoflrvestmentandCompanyAdministration(DICA)

2.2Agriculture,LivestockandFisherySector

Agriculture,livestockandfisherysectorsarethebackboneofMyanmar'seconomywithapproximately67.3percentofitspopulationengagedinagriculturalwork.IntermsofGDP,thesesectorsaccountforapproximately23.7percentinthefiscalyear2020-2021.Thisincluded15percentforagriculture,8.6percentforlivestockand0.1percentfor

fisheries.

Myanmaractivelysupportstheagriculture,livestockandfisheriessectorstoenablecomprehensivegrowth,betterfoodsecurityforitspeople

andalsoforpromotingexports.Myanmar'sabundantnaturalresourcesand

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diverseagro-ecologicalconditionsprovideawealthofopportunitiesforbothforeignandlocalinvestmentacrosstheentiresupplychain.

2.2.1AgriculturalIndustries

Theagriculturalsector,whichisamajordrivingforceforMyanmar'seconomicdevelopment,playsakeyroleinagriculture-basedbusinesses.Inthefiscalyear2020-2021,theagriculturalsectoraccountedfor15percentofthetotalGDP.Theabundanceoflandresources,climateandsoilqualitycombinedwithtechnologywillincreasetheproductionandearningsfromcropsandindustrialcropsinfuture.

2.2.2LivestockIndustries

ThelivestocksectorisoneoftheprioritizedsectorsforMyanmar'seconomicdevelopment.Livestocksectorincludesanimalbreedingandproduction,establishmentofanimalcontrolstationandcollectionfarmforexportandimport,animalfoodmanufacturingindustry,andmilkanddairyproductmanufacturingindustry.Additionally,thereareopportunitiestoinvestinbeesandbee-products.

2.2.3FisheryIndustries

Myanmarhasalongcoastlineofnearly3,000kmandthecontinentalshelfof228,781sq.kmaswellasanExclusiveEconomicZone(EEZ)of486,000sq.km.Thetotalareaofswampsalongthecoastlineisabout0.5millionhectareswhichprovidesaconduciveenvironmentforthe

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developmentoffisheryindustries.Inordertoimprovetheproductionoffreshwaterfishes,201,998hectaresoffreshwaterpond,commonfishingareaandproductionfromfishfarmingarebeingoperated.

Fisherysectorisavastpotentialforinvestment.Theopportunitiesinthissectorincludeaquacultureproduction,foodprocessingandmarinefisheries.Investmentinthissectorispermittedtoforeigninvestorsinjoint-venturecooperationwithalocalcompany.

Therewasanincreaseintheproductionofmeat,fish,milkandegginthesecondquarterof2021-2022.Fishisthelargestmeatbytotal

production,accountingfor84.96percentofallmeatproduction.

Chart(2):ProductionofMeatandFish

Souce:CentralStatisticalOrganization(CSO)

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2.3Infrastructure

ThedemandfornewinfrastructureprojectsinMyanmarisalreadyhighandwillcontinuetoriseinlinewiththeeconomicgrowth.Thegovernmenthasstatedinvestmentprioritiesthatincludeconstructionoftransport,powerandurbaninfrastructure.

2.3.1Transportation

Whilethetransportsectorhasakeyroleinfosteringtheeconomicgrowthandadvancingsocialdevelopment,infrastructurewillberequiredtotakeadvantageonregionaltradeopportunities.Hence,thedevelopmentofthecountry'stransportsectorfocusonenhancinginfrastructureprioritythatwillrequireinvestmentininternationalairport,deepseaport,inlandwaterways,strategicrailandhighwaynetworksandimprovementsincross-borderinfrastructureandregionalconnectivity.

2.3.2PublieTransportationServices

Regardingpublictransportationservices,theMinistryofConstructiontakesresponsibilityforthehardinfrastructure,whichareneededforroadtransportation;whereas,theMinistryofTransportandCommunicationsisresponsibleforthesoftinfrastructuresuchastheissuanceoflicensesandsupervision.

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TheMinistryofTransportandCommunicationsisencouragingtheconstructionandup-gradationofthefollowingprojectsrelatingtopublictransport,forimplementationunderPublic-PrivatePartnership(PPP)

model

●Riverportestablishment

·Railwaydevelopmentproject

·EstablishmentofmultimodallogisticshubsatYangon,Mandalayand

Bago

●Developmentofcontainertransitstations

·CitytruckterminalsatYangon,Magway,Pyay,Mawlamyaing,Dawei,

ThandweandHeho

2.4Power

ThepowersectorofMyanmaropensupabundantandimmediateopportunitiestoforeignandlocalinvestors.Theinstallationofconsiderableadditionalcapacitytothecurrent7,129MW(asof2019-2020)andtherapidconstructionoftransmissionlinesarenationalpriorities.Inordertoreachtheobjectiveoffullnationalelectrificationuntil2030,thepower

sectorofMyanmarmustgrowamultipleofitscurrentsize.

Theabundanceoflocationssuitableforhydropowergeneration,theavailablerichnaturalgasdepositsandvirtuallyunexploredpotentialinsolarandwindpower,alongwiththeexpansionofthetransmissionsystem,

oftersignificantopportunitiestoinvestintheelectricitysector.Inthe

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mediumrun,Myanmarmayevendeveloptotheextentitbecomesanetexporterofelectricitytoneighboringcountries.

Myanmarpossessesvastwaterresourcesandthereforereliesonhydropowerasamajorsourceofgeneratingelectricity.FDIinhydropowerplantsispermittedasajointventureoraBuild-Operate-Transfer(BOT)scheme.LocalinvestorsarealsopermittedtotakepartinIndependentPowerProducer(IPP)schemes.

Beyond54identifiedlarger-scalehydropowerdevelopmentopportunities,representinganadditional42.33GWalongtheAyeyarwaddy,Sittaung,ThanlwinandChindwinRiversystems,therearealsosmaller-scalehydropowerplantsaswellasothersourcesofenergy(i.e.solar,wind,gas)whichhavehighpotentialtoplayasignificantroleinMyanmar'snationalpowersupply.

2.5HotelandTourism

AsofJune2022,thenumberoftouristshasincreasedslightly.Foreigntourists(ontheirfirstshort-termvisittoMyanmar)mostlyvisitYangon,Bagan,InleLake,NyaungShweandMandalay.However,MyanmaroffersunexploredtreasuresofnaturalbeautyinthewholeofthecountryffomKawthaunginthetropicalsouth-easttoPutaointheHimalayas

Inthesecondquarterof2021-2022,over35,000visitorsenteredMyanmar.Thiswasincreasedby17.41percentcomparedwiththeprecedingquarter

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Chart(3)InternationalTourismArrivals

Souce:CentralStatisticalOrganization(CSO)

Myanmar'stoptouristdestinations:

·Yangon

Theformercapitalcityboastsmore

colonialbuildingsthananyothercity

inAsiaanditsglittering2,000-year-

oldShwedagonPagodaisthemost

reveredinSoutheastAsia.Yangon

hasseveralattractiveparksand

lakes,whilethehistoricdowntown

areaisvibrantandcosmopolitan.

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·Bagan

TheancientcityofBaganhasthousandsofpagodasandshrinesthatdatebacktotheBagandynasty.Baganislocated90miles(145km)southwestofMandalay.Thehotairballoonbusinesseshavealsobeenreopenedrecently.

●Mandalay

Beingthecountry'ssecondlargest

cityandlastroyalcapital,Mandalay

anditssurroundsarerichin

historicalnostalgiaaswellasbeinga

hubofentrepreneurialactivity.

·InleLake

ThispicturesquelakeinShanStateisstuddedwithfloatingvillagesinhabitedbytheInthatribe.It'salsooneofthebestplacestoobservetraditionalsilkweavingandshopforlocalhandicrafts,suchaslacquerware.

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·ChaungTha,NgweSaung,andNgapalibeaches

Thesethreebeachesarethemostpopularamongforeigntouristsaswellaslocalsandareidealforsnorkelling,fishingandfreshseafooddining.Nonehasbeensubjecttooverdevelopmentandthusremainidyllicgateways.

·Myeik(alsoknownasMerguiArchipelago)

MyeikisagroupofislandslocatedinthesouthenregionofMyanmarontheAndamanSea.Theseuntouchedislands,colonial-erabuildingsandcleanwaterarethemostattractionfortourism.Myeikisfamousforitsproducts

suchaspearl,rubber,bird'snest,driedfish,driedprawnandshrimppaste.

AccordingtoSection43andSection100,sub-section(b)oftheMyanmarInvestmentLaw(the“MIL”),theMIChasprescribedthefollowinginvestmentpromotedsectors:

●Exploringnewhigh-potentialinvestmentlocationsinhospitalityandtourism

·Developingeco-tourism(e.g.,developmentofeco-tourism-orientedhotelsandlodgesalongwithrespectiveactivitiessuchastrekkingroutesortours)

·Buildingculturalandcommunity-basedtourism(e.g.,developmentofshopsforthesaleoflocallyproducedculturalartifacts)

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2.6Manufacturing

ThemanufacturingsectoropensupopportunitiesduetothesignificantdomesticmarketofMyanmaranddirectaccesstothestrategicmarketsof

SoutheastAsiaaswellastoChinaandIndia.

TheinvestmentactivitiesinthissectorhavetobecarriedoutwiththeapprovaloftherelevantMinistriesandenjoytheincentivesandprotectionsprescribedintheMILandtheMyanmarSpecialEconomicZoneLaw.

Moreover,theMIC,concernedMinistriesandrespectiveStateandRegionalgovernmentsofferalltheeffortstoprovidenecessaryassistanceforbothlocalandforeigninvestors.

2.6.1FertilizerManufacturing

Fertilizermanufacturingisoneoftheprioritizedinvestmentactivitiesencouragedbythegovernment.ThedomesticfertilizerindustryinMyanmarisconcentratedaroundtheproductionofureafertilizerfromtheabundantsourcesofnaturalgasinthecountry.TherearefiveState-ownedfertilizermanufacturingplantsinSalay,Kyunchaung,KyawSwa,MyaungDagainHmawbiTownshipandanotherinKanGyiDaukofPatheinTownshipwhicharesupportingthedomesticrequirements.

TheMinistryofEnergyrecentlycalledforexpressionofinterestfrombothlocalandforeigninvestorsfortherenovation,upgradingandlong-termleasingofState-ownedfertilizermanufacturingplants.

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2.6.2CementManufacturing

Thegovemmentpresumescementmanufacturingindustryasoneofthemostimportantsectorstopromoteformoreinvestmentprojects.Therawmaterialsforthecementmanufacturingincludingthelimestone,ferruginous

bauxiteandcoalareaccessibleinMyanmar.Domesticmaximumproductivityofcementmanufacturingis7.62milliontonperannumfromthreeState-ownedfactoriesandsixteenprivatefactories.

TheMinistryofIndustryallowstheState-ownedcementplantsforlong-termcooperationwithprivateinvestorsintheformofPublic-PrivatePartnership(PPP).Foreigninvestmentactivitiesareallowedintheformofajoint-venturewithanycitizen-ownedentityoranyMyanmarcitizen.

2.6.3IronandSteelManufacturing

ForthedevelopmentofMyanmar'sinfrastructure,steelisoneoftheessentialmaterialsandisimportanttovariousindustries.Duetothemarketdemand,steelisstillbeingimported,andMyanmarattemptstosupplythelocalsteelconsumption.

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Table(3):TheNumberofRegisteredFertilizerPlant,CementPlant,IronandSteelPlantandFoodProcessingPlant

Region/State/Territory

FertilizerPlant

Cement

Plant

IronandSteelplant

Food

Processing

Plant

KachinState

1310

KayahState

84

KayinState

3

384

ChinState

625

SagaingRegion

15

2883

TanintharyiRegion

974

BagoRegion

7

2156

MagwayRegion

2

1898

MandalayRegion

56

11

9

2236

MonState

8

1

994

RakhineState

2

796

YangonRegion

28

19

1799

ShanState

11

3

12

2471

AyeyarwaddyRegion

4

3771

NayPyiTawUnion

Territory

1

388

Total

136

16

40

22769

Souce:TheDirectorateofIndustrialSupervisionandInspection

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2.6.4Value-addedFoodstuffsManufacturing

Value-addedfoodstuffsmanufacturingisalsooneoftheprioritizedinvestmentactivitiesencouragedbytheMIC.Thegovernmentencouragesvalue-addedfoodproductionandprovidestrainingtotheenthusiasticlocals.Small-scaleIndustryDepartmentconductedthevalue-addedfoodproductiontrainingtoprovidetechnicalknowledgeandguidethecommunities,whoarewillingtosetupsmallagro-processingenterprises,totapthenaturalresourcesexistingintheirenvironments.

YangonRegionSmallScaleIndustries,DepartmentoftheMinistryofCooperativesandRuralDevelopmentconducted22technicaltrainingcoursesforvalue-addedproductsinfiscalyear2022-2023untilnowandproduced406trainees.

UnderMekong-LancangCooperationSpecialFund(2020),thefoodinnovationcenterwaslaunchedinconjunctionwiththeopeningoftrainingcourseonvalue-addeddriedfruitproductmanufacturingprocessinYangon.

2.6.5ElectricVehicleManufacturing

MyanmarisintendingtochangeintotheelectrictransportationsincethepublicawarenessofglobalwarminghasincreasedsignificantlyinMyanmar.Thetransportationsystemincludingthepublictransportationasawholewillbetransformedintoelectrictransportationwithinfrastructuraldevelopment

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Moreover,five-year-actionplanforthedevelopmentofelectricvehiclesinMyanmarwillbeofnumerousincentivesforboththemanufacturersand

usersofelectricvehicles.

On15hFebruary2023,theMICpromulgatednewNotificationNo.1/2023asthepromotedsectorforEVandrelatedactivities(https://

www.dicagov.mm/en/announcements-information).

2.6.6PharmaceuticalandMedicalDeviceManufacturing

Domesticandforeigninvestorsarebeingencouragedtoinvestintheprivatehospitalservices.AccordingtotheMIL,thehealthcareservicesectorisoneofthepromotedsectorsinMyanmar.Inthepharmaceuticalproductionsector,7percentofnationalrequirementsarefulfilledbyState-ownedenterprises.Therefore,theMinistryofIndustryencouragesinvestmentopportunitiesinhigh-techdrugproductioninMyanmar.AccordingtoSection42,sub-section(d)oftheMIL,theinvestmentactivitiesfordrugandmedicalproductmanufacturingandvaccineproductionmustbeapprovedbytheMinistryofIndustry

LocaldrugmanufacturinganddrugregistrationhavetobeperformedaccordingtotheNational