Shan State’s Investment and Company Administration Department says its company registration process will be streamlined so that it can be completed in three days, instead of several months.
State officials say its location – bordering China, Laos and Thailand – increases its prospects for economic development and that they expect a reduction in red tape to encourage more firms to set up there.
State officials admitted say the process can currently take up to six months. The move to cut this to three days will also benefit bordering Kayah State as companies there will be able to register as legal entities in Shan State, officials said.
The investment agency also helps companies to connect with the Myanmar Investment Commission, which reviews investment proposals in consultation with regional governments and respective ministries and grants approval to both foreign and local investors.
The Ministry of National Planning and Economic Development has offices in Yangon and Nay Pyi Taw to handle company registration processes around the country. On August 18, it opened another branch in Mandalay to speed up the process.
Source: ELEVEN MYANMAR