Myanmar govt to take control of investment body

YANGON – The Myanmar Investment Commission is set to lose its independence and be moved under the control of the Ministry of Planning and Finance.

MIC secretary Aung Naing Oo said: “The MIC is a separate and independent entity. However, the Indonesia Investment Coordinating Board [BKPM] reports directly to the president. Board of Investment of Thailand is under the direct supervision of the prime minister, despite being formed by the ministry of industry. Likewise, the new government wants to put MIC under the Ministry of Planning and Finance.”

The 11-member MIC is chaired by Kyaw Win, planning and finance minister.

The new government is geared to draw more foreign direct investment, in a bid to create jobs and improve the country’s infrastructure.

Source: Nation Multi Media



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