What’s on – Hong Kong Macau and Myanmar Chamber of Commerce & Industry

Mandalay investment commission approves 10 projects

The new Investment Law was implemented last year and regional investment commissions were set up. Under the new legislation, trhe regional commissions can approve investments of up to US$5 million or K6 billion. Mandalay Investment Commission has approved five domestic investments and five foreign investments, totalling 10 investments within nine months since it was established, according to the regional Directorate of Investment and Company Administration. In Mandalay Region, the current investment volume is US$3244.995 million based on 60 permits and K4,900 billion from 148 permits under the Myanmar Investment Commission, Daw Nwe Ni Oo from the regional DICA said. Source: Myanmar…

Senior Chinese Diplomat Song Tao Discusses Cooperation with New President U Win Myint

New President U Win Myint met with the head of the international relations department of the Communist Party of China on 25 April in Naypyitaw to discuss cooperation between the two nations. Song Tao (宋濤) was the first foreign dignitary to meet with the new president since he was sworn in last month. President Win Myint (right) speaks with Song Tao (left), minister of the International Department of the Communist Party of China, during their meeting at President House in Nay Pyi Taw on 25 April 2018 A statement from the President’s Office said they discussed national reconciliation and the peace…

DICA Reduces SME Registration Fee

Small and Medium Enterprises (SMEs) will now only need to pay K250,000 for company registration — half of the previous amount — according to a press release by Directorate of Investment and Company Administration (DICA) on 13 March. DICA has reduced the registration fee to K500,000 from K1 million in July 2016. The press release said that the Ministry of Planning and Finance reduced the registration fee for private companies in order to help SMEs develop and encourage unregistered enterprises to start registering. ‘‘We are trying to improve Statistics & Business Strategy set by World Bank and realize that they…