Presidential office reforms new investment commission

The Presidential office of Myanmar has reformed a new Myanmar Investment Commission by issuing notification number 42/2013 on May 3.

An 11-member commission was reformed with Win Shein as chairman, Dr. Kan Zaw as secretary, Thuya Thaung Lwin as joint secretary and Win Tun, Zayar Aung, Dr. Tun Shin, Dr. Aung Tun Thet, Nyunt Tin, Win Khine, Mya Thuzar, Khine Khine New as members.

The union minister Soe Thein, the former chairman of the commission, and the union minister Aung Min are not included in newly reformed commission. The union minister Soe Thein has been replaced with the union minister Win Shein for the Finance and Revenue Ministry.

Under Soe Thein’s commission, it has been handing out licenses for cigarette and alcoholic beverages so quickly that questions have been raised about whether there is sufficient oversight. Duties worth about 3 trillon kyats have been waived, source allegedly claimed.

Source: EMG

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