doing business in myanmar – what you need to know as a singaporean
The Rakhine State branch of Directorate of Investment and Companies Administration (DICA) opened on Monday in conjunction with a briefing on investment matters and procedures.
Kyaw Win, chairman of Myanmar Investment Commission (MIC) and Union Minister for Planning and Finance, and Rakhine State Chief Minister Nyi Pu made speeches. MIC Secretary and DICA Director-General Aung Naing Oo explained the establishment of the Rakhine State Investment Committee office and the Rakhine branch of DICA.
“With the opening of the office, foreign investors can make contacts here,” said Aung Naing Oo.
“The office here can approve many businesses and that can save time and money. Moreover, suggestions and advice can be sought here.
“This will be beneficial to local entrepreneurs. For business establishment, the office here can approve a company if it invests US$5 million or K6 billion. If the amount exceeds that, the matter will be dealt with by Yangon office.
“As Kyaukphyu Special Economic Zone project is being planned here, Rakhine State will become an economic hub. There are many good prospects in economic sector, including service and tourism. Similar offices are also being opened in other states and regions,” Aung Naing Oo added.
He said Rakhine State has 771 registered companies that represents just over 1 per cent of the whole country.
After the briefing, the businesspeople in attendance raised questions which were answered by the relevant officials.
Source : Eleven Myanmar
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