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Myanmar Business Today
Myanmar's capital spending committee has within two weeks endorsed new company suggestions valued at over $280 million, with most of the funds raised from overseas investments. FDI has increased in Myanmar, but for the tendency to persist, the Myanmar authorities need to upgrade some of their outdated legislation to help secure investor protection, the Myanmar Investmentcommissionary said.
The Myanmar MIC is analysing the ownership rates of agriculture jointly owned enterprises to generate more interest in agriculture investments, MIC said. Myanmar has presented a draft law requiring overseas and domestic businesses to set up programmes to build capacities and their own educational facilities for qualified workers, according to the Directorate of Investments and Company Administration (DICA).
DICA (Directorate of Investments and Business Management) will run a programme of lectures and trainings for businesses that do not comply with the laws and regulation for government enterprises. Myanmar Investments Commission (MIC) has adopted nine proposed investments - four from overseas and five from onshore. According to the Directorate of Investments and Business Administration (DICA), the construction of sites that comply with internationally accepted industry standard is required by overseas investments.
The Myanmar Business Today interviewee U Aung Naing Oo, Myanmar Investmentcommission (MIC) Secretariat, spoke about the Commission's involvement in the country's overall economy and possible investments by overseas and domestic companies in Myanmar. Myanmar's democratization has been cautious for FDI in the first four month of Aung San Suu Kyi's administration, as shown by recent figures.
DICA (Directorate of Trade and Enterprise Administration) has established a procedure for fines for those enterprises wishing to be registered. At the end of last months, the Myanmar Investmentcommission (MIC) endorsed eight proposed capital expenditures by domestic and international capitalists, thereby approving the first capital expenditures under the present administration.
Myanmar's recently revised capital spending committee will begin this months reviewing some $2.3 billion in suggested overseas capital spending that has been delayed since April, a high-ranking officer said.