The revised draft Cyber Security Law released by the Ministry of Transport and Communications (MOTC) on 13 January 2022 (“Draft Law 2.0”) sets out certain requirements on a digital platform service provider (DPSP). Failure to comply with the requirements could result in a fine, suspension of the relevant digital platform service (DPS) or revocation of any existing license held by the DPSP. Additionally, the MOTC may act in the public interest and shut down any DPS in Myanmar. These provisions under the Draft Law 2.0, if enacted, may have a material impact on international digital platform operators with a substantial user base in Myanmar.

The revised draft Cyber Security Law released by the Ministry of Transport and Communications on 13 January 2022 appears to impose a broad prohibition on the use of virtual private networks in Myanmar unless specific permission is granted by the MOTC. The Draft Law 2.0 does not distinguish the use of VPN between consumers and businesses; any person found guilty of the offense shall be punishable by imprisonment of a minimum of one year to a maximum of three years or a fine not exceeding MMK 5 million (approximately USD 2,500) or both.

Cross-border lending in Asia Pacific continues to grow steadily despite external factors such as COVID-19. While the region is not immune to external factors, borrowing volumes for financial institutions, credit funds and other market participants remain high in Asia Pacific. Considering the demographics of many of the nations, the various financial centers and many market participants investing more substantially in some of those financial centers, we remain optimistic that lending activity across Asia Pacific will continue to grow.

In December 2019, Myanmar’s first Anti-dumping Law (“ADL“) was passed by the Assembly of the Union of Myanmar (Pyidaungsu Hluttaw), marking the introduction of a legal framework for the imposition of anti-dumping measures in Myanmar for the first time. Although Myanmar has been a member of the World Trade Organization (“WTO“) since 1995, Myanmar did not have a national anti-dumping law until the passing of the ADL. The new legislation is expected to enter into force on 1 July 2021.

On 17 May 2021, the US Department of the Treasury’s Office of Foreign Assets Control issued an additional round of sanctions pursuant to Executive Order 14014 “Blocking Property with Respect to the Situation in Burma.” This client alert discusses some of the legal implications of the latest round of measures and their impact on businesses’ day-to-day operations in the country, including their dealings with ministries or government agencies that are headed by an SDN.

Recent political developments in Myanmar have led to the imposition of targeted sanctions by the US, UK and EU in the past month. As a result of the measures imposed, businesses may face immediate challenges in doing business in, or with, the state. Join our speakers as they provide insights…

Following the various entry restrictions put in place by the Myanmar authorities since March 2020 to address the COVID-19 situation, many residents who left the country prior to the imposition of the travelling restrictions have yet to return to the country. As some of these individuals fulfil the role of resident directors of Myanmar-incorporated companies, their prolonged absence from the country could result in the company being in breach of the minimum residency requirement imposed on the directors of Myanmar companies under the Myanmar Companies Law (“MCL”).

On 20 October 2020, the Directorate of Investment and Company Administration (“DICA”), announced, via Notification 92/2020 (“Notification 92”), a temporary relief for companies from the resident director requirements. It does so by excluding the period from 29 March 2020 until the official lifting of entry restrictions from the computation to determine a director’s residency status.

Following a significant increase in COVID-19 transmissions in recent weeks, the relevant Myanmar authorities have promptly issued additional notifications on top of existing directives to address the developing COVID-19 situation in Myanmar, notably on:  

Stay-at-home Orders affecting 7 Townships in Yangon; and
Mandatory Quarantine and Testing for visitors/residents travelling to Nay Pyi Taw.

In brief In an effort to meet the current exigencies faced by Myanmar as a result of the COVID-19 pandemic, the Myanmar Government had, on 27 April 2020, launched the COVID-19 Economic Relief Plan (CERP). The CERP comprises seven goals, 10 strategies, 36 action plans and 76 actions, each with an…