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Government announces new MIC appointments, U Thaung Tun as new chair

The Union government on Saturday officially announced changes in the ranks of the Myanmar Investment Commission (MIC).

According to notification (61/2018), U Thaung Tun, union minster of Ministry of the Office of the Union Government, formerly a member of the MIC, will now be the commission’s chair. Meanwhile, Dr Than Myint, Union Minister of Commerce, has been appointed vice chair.

U Set Aung, who is deputy minister at the Ministry of Planning and Finance, has been appointed a new member of the MIC.

Other members of the MIC include U Tun Tun Oo, Union Attorney General, Daw Nilar Kyaw, a minister of the Yangon Region Government, economist and advisor to the former government Dr. Aung Tun Thet, U Khin Maung Yee, permanent secretary of Ministry of Natural Resources and Environmental Conservation, U Toe Aung Myint, permanent secretary of the Ministry of Commerce, U Htein Lwin, permanent secretary of Ministry of Electricity and Energy, U Htay Chun, former deputy director general of the Directorate of Investment and Company Administration (DICA) and U Aye Lwin, Central Executive Committee Member of the Union of Myanmar Federation of Chambers of Commerce and Industry.

U Aung Naing Oo, Director General of DICA, will remain as secretary of MIC and Daw Mya Thuza, will remain as joint secretary.

The appointment of U Thaung Tun as new MIC chair comes after the resignation of Minister for Planning and Finance U Kyaw Win, who was also chair of the commission, last month “U Thaung Tun, The new chair of MIC, was an ambassador and has experience in international relations. So, we believe that as chair, he will be able to promote Myanmar as an investment destination,” said U Aye Lwin.

He added that, “as U Set Aung has experience in areas such as promoting the Special Economic Zones in Myanmar, we believe he will add value towards drawing more interest in the sectors that require investments.”

The MIC was established under the new Myanmar Investment Law. It is a government-appointed body under the remit of the Ministry of Planning and Finance, responsible for verifying and approving investment proposals in Myanmar.

Among its objectives are protecting investors, safeguarding environmental conservation and social wellbeing and upholding transparency through proper accounting and auditing practices in accordance with international financial standards.

Source: Myanmar Times

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