[Myanmar] MIC Issues Notification No. 5/2026 on Procedures for Region and State Investment Committees

Theo Millet, Hnin Thiri Aung & Hla Myet Thwe

On 19 August 2026, the Myanmar Investment Commission (“MIC”) issued Notification No. 5/2026, replacing Notification No. 26/2021 and introducing a more detailed framework for investments administered by Region and State Investment Committees under the Myanmar Investment Law (2016).

The new Notification does not fundamentally remove the distinction between investments handled at the Region or State level and those requiring MIC approval. Instead, it provides clearer procedures for how Region and State Investment Committees scrutinize, approve, amend and monitor investments, and more clearly identifies matters that must be escalated to the MIC.

For investors, the most important changes concern the investment amount threshold, amendment authority, increases in investment amount, suspension and termination procedures, and reporting requirements.

Is the USD 5 Million / MMK 6 Billion Threshold Still Applicable?

Under MIC Notification No. 11/2017, a Region or State Investment Committee could issue an endorsement where the investment amount did not exceed USD 5 million or MMK 6 billion, subject to the applicable legal requirements.

Notification No. 5/2026 takes a different drafting approach. It does not specify a numerical threshold. Instead, it states that the MIC will separately determine and announce the permitted investment amount.

As at the date of this article, no separate notification prescribing a new amount has been issued, and there is currently no expressly announced change to the previous USD 5 million / MMK 6 billion threshold.

The new Notification should not, by itself, be read as having increased or reduced the investment ceiling for Region and State Investment Committees. A future MIC announcement may, however, establish a different threshold.

What Happens if an Investor Increases the Investment Amount?

Notification No. 5/2026 also provides a more explicit procedure where an investor wishes to increase the amount of an already approved investment.

If the increased investment amount remains within the permitted threshold, the relevant Region or State Investment Committee may approve the increase and provide a copy of its decision to the MIC.

If the increase would cause the investment to exceed the permitted amount, the Committee must scrutinize the application and forward it to the MIC for approval.

The investment threshold therefore operates not only when determining which authority should handle the original investment application, but also when an existing project is expanded.

Which Amendments Still Require MIC Approval?

Another important change is the clearer limitation on the matters that a Region or State Investment Committee may amend on its own authority.

Notification No. 5/2026 identifies six matters that remain subject to MIC approval:

1.     permits relating to the recruitment of labour;

2.     tax exemptions or reliefs;

3.     extension of the construction period beyond two years, or shortening of the construction period;

4.     transfer of majority ownership or control by the investor;

5.     transfer of 50% or more of the investor’s assets; and

6.     the use of raw materials restricted or prohibited under existing laws.

This provides investors with a clearer distinction between amendments that can be dealt with locally and changes that must be referred to the MIC.

 

What are the New Rules on Suspension and Early Termination?

The new Notification also introduces a more structured process for temporary suspension and early termination of approved investments.Applications are submitted through the Committee Office and considered by the relevant Region or State Investment Committee.

For temporary suspension, the Committee considers, among other matters, whether the suspension will be for one year or less and whether the investor undertakes to continue paying workers’ wages and salaries during the suspension.

For early termination, the Committee must also consider whether the investor has provided evidence that tax exemptions or reliefs previously enjoyed under Section 68 of the Myanmar Investment Law have been repaid, where required.

These provisions provide greater procedural certainty for investors facing commercial or operational circumstances that require a project to be paused or discontinued.

How Long Should the Process Take and What Must Committees Report?

Notification No. 5/2026 also introduces more specific working-day timelines for different stages of the application process, including completeness review, Committee consideration and issuance of the approval notification.

This is a significant administrative improvement because defined processing periods can make the endorsement process more predictable and assist investors in planning project timelines.

The Notification further expands the quarterly reporting obligations of Region and State Investment Committees. Reports to the MIC must now include not only investment inflows, Investment Monitoring Team activities and Committee activities, but also the status of permits and endorsements issued by the Committee.

Our Analysis

Compared with the previous framework, Notification No. 5/2026 is less about changing the basic allocation of investment authority and more about formalizing, clarifying and decentralizing the administration of eligible investments.

The Notification gives Region and State Investment Committees a clearer procedural framework to administer smaller-scale projects while preserving MIC control over significant investments and material amendments. This may reduce uncertainty for investors and could make the endorsement process more efficient where an investment falls within the Region or State level.

As of the date of this Article, the investment amount threshold has not yet been expressly changed. Until the MIC issues a separate announcement prescribing a new permitted investment amount, there is no announced replacement for the previous USD 5 million / MMK 6 billion threshold. The practical significance of the new framework will therefore become clearer once the MIC issues further guidance on the permitted investment amount and the procedures are applied in practice.