Myanmar, ROK sign Investment Protection Agreement

A container ship docking at Botahtaung Jetty in Yangon.  Photo: Phoe Khwar
A container ship docking at Botahtaung Jetty in Yangon.  Photo: Phoe Khwar

The Agreement on the Promotion and Protection of Investments between the Government of the Republic of the Union of Myanmar and the Government of the Republic of Korea recently entered into force, according to a 4th November news released issued by the Directorate of Investment and Company Administration (DICA).
Myanmar had a bilateral investment treaty with South Korea for the promotion of investments which concluded on 5th June 2014. In accordance with Article 16, the effective date of the Agreement between Myanmar and South Korea on the Promotion and Protection of Investments is 31st October 2018.
South Korea is the fifth largest investor in Myanmar, with 149 South Korea-listed companies bringing in capital of US$3.8 billion and accounting for 6 percent of the total foreign investment, according to the DICA’s data of foreign investment of existing enterprises.
Myanmar has bilateral investment treaties (BITs) with twelve countries, including China, India, the Philippines, Japan and South Korea.
Also, the 3rd round of meetings on the Promotion and Protection of Investment Agreement between the Republic of the Union of Myanmar and the Republic of Singapore was opened at the Myanmar Investment Commission Office in Yangon on 9th
July, 2018.
Matters of reciprocal protection and promotion of investment between the two states were discussed.
The BITs aim to minimize investment barriers, encourage investments and create more opportunities for investors. — GNLM

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