Letter to Editor: A technocrat-run MIC is the solution

SIR – Your piece on November 28 put forward numerous ways to ensure that the new Investment and Foreign Economic Relations Ministry spells meaningful changes for the economy. While I hope this measure will speed up the investment process in Myanmar and create more confidence in decision-making for businesses, I am skeptical given the gerontocratic preference for excessive and incompetent meddling in the country.

The best way, in my view, is an enhanced Myanmar Investment Commission (MIC), mostly run by technocrats. This should be broadly based on the Thailand Board Of Investment (BOI) where various ministries have delegated real decision-making to the BOI, whose remit mostly covers the industrial sector. The government would still have overall control of the policies and incentives of a future investment body but each investment proposal would not require multiple stamps.

Tony Picon

Bangkok, Thailand

Source: Myanmar Times

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