Investment applications to go online in Myanmar

The Directorate of Investment and Company Administration (DICA) will launch an Online Investment Application function to facilitate the investment process with the aim of attracting responsible investors, said U Thant Sin Lwin, Director General of DICA.

The new function permits companies to carry out the process for proposed investments online without having to physically go to the Myanmar Investment Commission and DICA offices. This will encourage more investments at a time when travel into the country is restricted due to COVID-19.

The Online Investment Application will enable potential investors to enquire, register, apply and request for the necessary information and coordinate with government departments to provide the needed documentation for business.

“We will work online to reduce paper and the number of people who can come and go as much as possible,” U Thant Sin Lwin said.

This comes after DICA in 2018 permitted investors and businesses to register their companies online.

The Myanmar Companies Online (MyCO) electronic company registration system currently has more than 68,000 registered companies.

The Ministry of Investment and Foreign Economic Relations will continue to provide a greater number of permits and approvals online via single-digital-windows to create an investment environment that attracts domestic and foreign investment, U Thaung Tun, the Minister of Investment and Foreign Economic Relations said recently.

Source : Myanmar Times

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