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July 06, 2020

Draft Myanmar Companies Law available on DICA’s website

Yangon, 16 June —The Directorate of the Investment and Company Administration (DICA) announced Tuesday that the draft Myanmar Companies Law is available on its website in English and Myanmar languages.
According to the DICA, the draft Companies Law with two versions in Myanmar and English has been uploaded to its website (www.dica.gov.mm), as the modernization of the country’s century-old Companies Act 1914 has been completed with the support of the Asian Development Bank.
The DICA has sought consultation from businesspeople and members of the public to provide input on modernization of the new legislation by email, post or fax to its offices in Yangon, Nay Pyi Taw and Mandalay, as well as Shan and Mon states.
Modernising the old Companies Act will be of benefits to businesses in Myanmar, making it easier for them to operate and to access finance, said Mr Winfried Wicklein, ADB country director in Myanmar during a public consultation meeting on the process in Yangon last April.
Mr Christopher Hughes who made a
presentation on the draft law at the meeting commented that its reform is as important as the modernisation of the investment law which is also currently in draft form.  GNLM

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