YANGON, Jan. 1 (Xinhua) -- Myanmar will hold regional investment forum in Rakhine state in February this year, the official Global New Light of Myanmar reported Tuesday.

Aiming to seek investment for development in the region, the investment forum, organized by Myanmar Investment Commission, will be held at Ngapali Beach on Feb. 21 to 23.

Under the new Myanmar Investment Law which was introduced on Aug. 1 last year, tax exemption and relief will be granted to investors depending on the development of the regions and states, allowing the investors in far-flung areas enjoy tax breaks of up to seven years.

Also, investment with capital not exceeding 5 million U.S. dollars can be permitted by regional and states authorities of the Directorate of Investment and Company Administration, according to the law.