On 31 January 2013, MIC issued a notification outlining prohibited and restricted activities for foreign investment (2013 Notification). For further information on the Foreign Investment Law, the Foreign Investment Rules and the 2013 Notification, please see our client bulletins Myanmar enacts new foreign investment law dated 14 November 2012 and Myanmar issues foreign investment rules dated February 2013.

MIC issued Notification No. 49/2014 (New Notification) on 14 August 2014 following months of speculation of a move by MIC to issue a revised list of prohibited and restricted activities. The New Notification repeals the 2013 Notification and clarifies the nature and scope of activities in which foreign investment is either prohibited or restricted. In particular, the New Notification expands the list of activities required to be undertaken by way of a joint venture with Myanmar citizens or, in certain cases, a ministry or government department.