October 21, 2016

Breaking News

Investment commission branches to be opened in all regions and states in 2017

ACCORDING to U Aung Naing Oo, director-general of the Directorate of the Myanmar Investment and Company Administration, Investment Commission Branches will be opened in all regions and states in 2017 for the smoothness of working processes of local and foreign investors in making investments in the country, it is learnt.
DMIC opened an Investment Commission branch in Kayin State on 6 October, with plan to open more branches in Bago and Magwe Regions no later than the 2016 fiscal year.
Later, entrepreneurs residing in states and regions will be able to have their companies registered in their respective areas without losing time and
money, the DICA stated, and MIC also will give necessary suggestion on investment, it is learnt.
Presently, DMIC has already opened branches in Nay Pyi Taw, Mandalay, Mawlamyaing, Monywa, Pathein, Dawei and Taungyi.
Following the emergence of the new law on investment, business persons can directly submit any matters to their respective branches, no longer needing to go up to the MIC.
Under the new law, respective state and region branches will have the right to decide on business plans with the exception of strategic economic projects, capital enterprises, industries which will harm the natural environment, businesses operating on state-owned buildings and estates and businesses that are worth scrutinising.—Ko Moe

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