YANGON -- A new company law has come into effect in Myanmar to encourage investment by foreign companies in the Southeast Asian nation.
The new law, which has drastically revised the old company law put into force in 1914 when the country was under British rule, permits companies whose ownership by foreigners does not exceed 35% to own land as well as export and import end products. Previously, the ownership of land was permitted only for companies 100% owned by local capital.
