Myanmar Clarifies Rules For Investment Approvals

The Myanmar Investment Commission (MIC) has issued a notification that gives investors with projects in Myanmar clearer guidance for securing approval and for changing, expanding, or exiting an approved project. Issued on August 19, 2026, MIC Notification No. 5/2026 replaces MIC Notification No. 26/2021 and sets procedures for state or regional investment committees to review, approve, and supervise investment projects, including project amendments, investment increases, land-use rights applications, compliance inspections, and suspension or termination of approved businesses.

Endorsement Application Timeline and Deemed Acceptance

In Myanmar, prospective investors seeking approval under the Myanmar Investment Law generally do so through an MIC permit or an MIC endorsement, depending on the nature of the investment. While certain large-scale investment projects require an MIC permit, projects that are not required to obtain an MIC permit may instead apply for an MIC endorsement. Investors seeking MIC endorsement for their planned projects typically submit their applications to the relevant state or regional investment committee. These committees are established under the Myanmar Investment Law and are authorized to approve investments of less than USD 5 million, subject to the project’s nature and location.

MIC Notification No. 5/2026 specifies that upon receiving an endorsement application, the relevant investment committee office will check it for completeness and determine whether it can be considered at the state or regional level or must be referred to the MIC; if it must be forwarded to the MIC, this will be done within 10 working days.

If an application is within its purview, the committee may reject the endorsement application within 15 working days of receipt; otherwise, the application is deemed accepted. If approved, the endorsement certificate will be issued within 10 working days of the approval decision, subject to applicable procedures.

Endorsement Certificate Amendment

The notification clarifies which amendments a state or regional investment committee may approve and which require MIC approval. Applications to amend an endorsement certificate must be submitted through the relevant committee, and the following matters must be referred to the MIC for a final decision:

• Employment permissions and labor-related matters;
• Tax exemptions or relief;
• Requests to extend the construction period more than twice, or to shorten the approved construction period;
• Transfers that change the majority ownership or control of the investor;
• Transfers involving more than 50% of the investor’s assets; and
• Requests to use raw materials restricted or prohibited under existing laws.

Increase in Approved Investment Amount

To increase the investment amount that had been previously approved by the MIC, the investor must apply through the relevant state or regional investment committee. The committee will assess whether the proposed increase exceeds the amount it is authorized to approve (i.e., typically amounts below USD 5 million, subject to the nature and location of the project).

If the increase exceeds the applicable approval threshold, the application will be submitted to the MIC for approval after the committee’s review. If it remains within the committee’s authority, the committee may review and approve it under the Myanmar Investment Rules and notify the MIC accordingly.

Land-Use Rights Applications

State or regional investment committees may also review and approve land-use rights applications. Applicants must provide all information required under the Myanmar Investment Rules. In addition, the committee may review:

• Recommendations, endorsements, approvals, or comments from the relevant state or regional government and other relevant government departments or authorities;
• Evidence of land ownership; and
• Additional supporting documents as requested.

Suspension or Early Termination

Investors seeking to suspend or terminate approved projects before the approved investment period expires must apply through the relevant state or regional investment committee, and the MIC must give final approval. In reviewing these applications, the committee may consider:

• Whether the proposed suspension will last one year or less;
• Whether the investor has provided evidence and commitments to pay employees’ wages and salaries during the suspension period; and
• For an early termination, whether the investor has provided evidence that any tax exemptions or relief required to be repaid have been settled.

Investor Takeaways

Notification No. 5/2026 leaves Myanmar’s investment framework largely intact but gives investors greater procedural clarity and formalizes a more structured compliance and inspection regime by state or region investment committees.

Investors should build these requirements into plans for expansions, restructurings, land-use arrangements, and other changes to approved investments.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.