Looking Back: 2021 and Gazing Into: 2022
Looking Back: 2021
2021 was a year of tumultuous changes in Myanmar due to the ongoing military takeover which started on 1 February 2021. The newly formed State Administration Council (“SAC“) introduced many legislative changes, and institutions under the SAC imposed numerous directives to control the economy, particularly in relation to the depreciation of the Myanmar Kyat.
Gazing Into: 2022
Due to the military takeover in 2021, and a caretaker government being formed instead of a parliament, legislation may be enacted immediately. Similarly, key legal developments cannot be accurately forecast due to a lack of bills being made publicly available. However, it is expected that the Ministry of Commerce will revoke the previous restrictions that are imposed on importation of foreign motor-vehicles.
Furthermore, there are two laws which are expected to be enacted in 2022. These laws are:
- the Private Security Business Law; and
- the Foreign Workers Law.
Full Report
Click on the link below for the full report which provides summaries of the key legal developments related to the above areas.
Please note that whilst the information in this Update is correct to the best of our knowledge and belief at the time of writing, it is only intended to provide a general guide to the subject matter and should not be treated as a substitute for specific professional advice
