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MIC branches to be opened in Chin and Rakhine states

Myanmar Investment Commission (MIC) branch offices will be opened in Chin and Rakhine states in October, according to a report in the Myawady Daily yesterday.

The MIC branch offices will be opened in every township in FY2017-2018.

According to the MIC new law, the MIC commission branch offices have been granted to open in every state and region. Also, MIC branch offices have been granted to give permission to the local and foreign investments which do not exceed Ks 6,000 million and US$ 5 million.

MIC offices in States and Regions have seven members each including the chief ministers concerned. To implement the process, MIC has been providing training workshops to local officials.

MIC will permit only investments which create better job opportunities for the local people, raise government revenues, fulfill the domestic demand and follow MIC rules and regulations.

Source: The Global New Light of Myanmar

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