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 […]

High interest: Payday lender faces scrutiny

The financial authorities are investigating an online-based loan provider that was slugging customers with interest and fees totalling 15 percent a month – more than five times what microfinance institutions and pawn shops are allowed to charge. IN LATE December 2019, Ma Tin Zar received a phone call from a microlender, MicroMoney Myanmar, asking her […]

DICA sets 30 Mar as late registration deadline for MyCO

The Directorate of Investment and Company Administration has asked companies which failed to register and re-register on the online registry MyCO in January to complete the registration formalities by 30 March. Companies which fail to meet the deadline for late registration will be struck off from the register list, according to the DICA. “More than […]

Companies Must Submit Annual Reports to DICA Starting February 2019

In order to understand the overall scope of investments in the country, the Directorate of Investment and Companies Administration (DICA) has ordered companies to submit annual reports starting from February 2019. Looking at the annual reports, DICA can determine how many companies made investments in which sectors or types of businesses during the previous year. […]

Online Company Registry Crashes on First Day

YANGON – Due to a high volume of traffic, the Myanmar Companies Online (MyCO) registry crashed repeatedly on the first day of re-registration, denying access to most users. U Myo Min, director of the Directorate of Investment and Company Administration, said the website would be back online by Monday. The MyCO system was opened to […]

Myanmar launches new companies law to adapt to current age

YANGON, Aug. 1 (Xinhua) — Myanmar has instituted a new companies law after amendment of its outdated Companies Act-1914 to adapt to the current age, registering an important milestone with its measures of promoting foreign investment. The new Myanmar Companies Law-2017 comes into effect from Wednesday, enabling a company’s registration process to be done electronically […]