MYANMAR Looking Back: 2020 and Gazing Into: 2021 Looking Back: 2020
2020 was a year of numerous regulatory changes, in particular to address the economic and social ramifications of the COVID-19 pandemic. Ongoing stringent measures were imposed in September as the second wave of the pandemic took hold in the country. Directives were issued to implement Stay-at-home measures and travel bans, and to give out allowances for employees insured under the Social Security Board (SSB) in the private sectors.
The Government of Myanmar continued its steady implementation of electronic systems in order to streamline various processes. In particular, the trademark regime has been transformed from a 'First-to-Use system' to a 'First-to-File system', together with the introduction of the E-filing system for Trademarks. An E-filing system and payment platforms was also introduced for taxpayers by the Internal Revenue Department (IRD) to be in-line with the Stay-at-home practices introduced to address the COVID-19 pandemic.
A significant change to the corporate market came in the form of the new Insolvency Law, seeking to modernise the old regime and introducing new alternatives to liquidation. Additionally, Industrial Zones are being promoted through the newly enacted Industrial Zone Law by the Parliament.
Gazing Into: 2021
A major development in the regulatory framework in Myanmar comes in the form of modernising the electronic commerce market through the introduction of the E-Commerce Guidelines. In the area of trademarks, the official commencement date of the filings is expected to be announced in 2021. The second phase of the E-filing system for trademarks is also expected to be introduced, allowing owners of marks to register by themselves.
Another major shift in the governance of Myanmar is the completed elections in the country, seeing another landslide win by the ruling majority party, National League for Democracy. This is expected to result in changes to personnel in all the Ministries, which may affect the regulation of certain laws. Additionally, the term of the State Counsellor of Myanmar Law of 2016 will need to be extended as the current statute only provides for a term of up to the end of the second session of the Hluttaw – which is due to expire soon.
Additionally, the Law to Prevent an Increased Quantity of Imports, which was passed by Parliament in 2019, will take effect on 1 July 2021. The Law seeks to protect domestic production from increased imports and is expected to significantly impact the market.
Full Report
Click on the link below for the full report which provides summaries of the key legal and case law developments related to the above areas:
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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.
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