The 1996 Basic Statute of the State (also referred to as the Basic Law) sets out the legal structure of Oman and the respective functions of the executive and the judiciary, as well as citizens’ personal liberties and public obligations. It provides that Oman’s basic principles include free market economics, cooperation between the public and...
This chapter contains an overview of the legal framework in which local and foreign investors operate in the country, including a breakdown of the distinctions between conventional and Islamic banks, an outline of the employment regulations for both Omanis and foreigners, and a look at commercial and personal bankruptcy laws.
Despite ongoing economic pressures associated with the drop in oil prices, Oman’s diversification strategy and efforts to enhance wider revenue streams are beginning to bear fruit, as witnessed by continued growth in the non-oil sector despite dropping incomes and wider regional instability.
The government’s effort to update and streamline its foreign and domestic investment laws has finally been achieved with the enactment of the Myanmar Investment Law (MIL) in October 2016. Apart from extending automatic investment protections to citizen and foreign investments, which cover a range of asset classes including shares and property, the MIL also introduces a new regulatory mechanism...
A series of exhilarating changes took place in Myanmar in 2016, from the installation of a new democratic government in April 2016 with Daw Aung San Suu Kyi at the helm to the lifting of two decades of economic and financial sanctions by the US. Changes are not just taking place in the political sphere. The legal landscape is also keeping pace, with game-changing legal reforms promulgated in...
This chapter examines Myanmar’s legal system, focusing on the new investment law that is set to enhance the business climate, the extension of investment protections and benefits, a mobile financial services bill, and updates to several key labour laws.
It also contains a viewpoint from Cheah Swee Gim, Director, Kelvin Chia Yangon.
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