Myanmar encourages private plantations but remains vague on tax relief

The new government in Myanmar is working its way through the legislation and making changes that will impact the timber sector.

Domestic and foreign private sectors are encouraged to invest in plantations in order to increase forest cover, Minister Ohn Win from the Ministry of Natural Resources and Environment indicated.

It has already been reported that 15 investors have won the approvals for tree planation development and that some 30,000 ha. have been established.

In addition, the Myanmar government has indicated that overseas investors will no longer automatically benefit from tax exemption under the new Investment Law. The previous administration allowed tax exemption for five years for a wide variety of sectors. With the current law, discretion is provided for the private sectors depending on the industry and size of investment.

 

Source: ITTO