MYANMAR Trends and Developments Contributed by: Kana Manabe, Thit Thit Aung, Julian Barendse and Nirmalan Amirthanesan, Myanmar Legal Mori Hamada
Myanmar Legal Mori Hamada 16-01 Junction City Tower No 3A Bogyoke Aung San Road Pabedan Township Yangon Myanmar Tel: +95 1 925 3650 Fax: +95 1 925 3651 Email: mh_yangon_info@morihamada.com Web: www.morihamada.com
Myanmar Elections Update Myanmar held its first election since 2020 in three phases on 28 December 2025, 11 January 2026, and 25 January 2026, after the termination on 31 July 2025 of the state of emergency declared on 1 February 2021 under Order No 1/2021 of the Office of the President of Myanmar (Pro Tem), according to which legislative, executive and judicial powers of the government had been transferred to the Commander-in-Chief of the Defence Services. Not all seats in the Myanmar legislature were sub - ject to the election, due to the ongoing civil conflict. The Union Solidarity and Development Party (USDP), which previously formed the government prior to the former National League for Democracy-led govern - ment, is reported to have won a majority of the con - tested seats. On 23 February 2026, it was announced that the Pyithu Hluttaw (the lower house of Myanmar’s leg - islature) would convene its first regular session on 16 March 2026, while the first regular session of the Amyotha Hluttaw (the upper house of Myanmar’s leg - islature) would be convened on 18 March 2026. The new Government is expected to be sworn in in April at a joint sitting of the two houses of the Pyidaungsu Hluttaw (Parliament). Implementation of the Myanmar Insolvency Law Myanmar’s Insolvency Law (Law No 1/2020) (IL), which had generally entered into force on 25 March 2020, has now been fully implemented with the issu -
ance by the Insolvency Practitioners Regulatory Council (IPRC) of Insolvency Practitioner Certificates (IP Certificates) to 14 public accountants, or CPAs, and six advocates of the Supreme Court, on 30 Octo - ber 2025, registering them as insolvency practitioners under the IL. In January 2026, a second group of IP Certificates was issued, bringing the total number of certified insolvency practitioners to 85. Among those issued with an IP Certificate is Daw Khin Cho Kyi, Senior Myanmar Legal Adviser of Myanmar Legal Mori Hamada Limited. As a result, this firm is able to assist Myanmar businesses in undertaking a winding up under the IL. Prior to this, the implementation of the IL had remained pending, notwithstanding the entry into force of the IL on 25 March 2020, because insolvency practitioners require certification to undertake the legal procedures under the IL requiring an insolvency practitioner (such as the appointment of a liquidator). As a result, a liq - uidation in accordance with the IL has not been avail - able to Myanmar businesses until now. Instead, those seeking to wind up their Myanmar busi - nesses, including foreign investors seeking to exit their investment in Myanmar, have resorted to alternative mechanisms such as selling their shares to a third par - ty or suspending their business pending implemen - tation of the IL. The Directorate of Investment and Company Registration (DICA), which administers the IL, has also in the past permitted some liquidations to be undertaken other than by registered insolvency
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