Myanmar to reduce red tape for business, says presidential advisor

Myanmar will endeavour to improve its rating in the World Bank’s ‘Doing Business Report’, presidential advisor on economic affairs Dr Zaw Oo said in Yangon on July 27.

The government will try to identify and remove red tape that that creates obstacles to doing business, Dr Zaw Oo told a news conference at the Union of Myanmar Federation of Chambers of Commerce and Industry.

“Private companies have told us of the difficulties they face and we will try to ease their path as much as possible,” he said after a meeting between government officials and members of the business community.

The director-general of the Directorate of Investment and Company Administration, U Aung Naing Oo, told the news conference that the government had already moved to reduce the steps needed to register a new business to nine and further measures would be taken.

He said 11 steps had been needed when the Washington-based International Finance Corporation prepared the 2014 report for the World Bank.

The report ranked Myanmar 182nd out of the 189 economies listed in the ‘ease of doing business’ index and it rated last in the ‘starting a business’ list.

“The government has a lot of work ahead; it must ease regulations across all sectors,” businessman U Ye Min Aung told Mizzima after the news conference.

Source: MIZZIMA Myanmar

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