Myanmar to Implement Single Window System for Issue Licensing to Investors
Myanmar to Implement Single Window System for Issue Licensing to Investors
Myanmar Business Today, 26 Nov 2018
URL: https://www.mmbiztoday.com/articles/myanmar-implement-single-window-system-issue-licensing-investors
With an aim of promoting local and foreign investment, the Ministry of Commerce will establish a single window system enabling local and foreign investors to finish all required procedures for obtaining the necessary documents for a license, Dr. Than Myint, Union Minister of the Ministry of
Commerce, said at the meeting between the vice-president and local businessmen on November 17.
“This system will execute all the procedures necessary in one place to complete the required documents for local or foreign investors, whether they are individuals or groups. These procedures are sometimes hard to understand for foreign investors,’’he added.
The minister said that his ministry will work with other related ministries to provide a one-stop service center for all necessary procedures such as land acquisition, electricity, construction permits, and environment impact assessment (EIA) report as well as hiring workers.
Investors currently have to finish all procedures from one office then travel to other offices for various requirements, which is complex and time consuming.
The World Bank Group announced its Ease of Doing Business 2019 on October 31 this year, and Myanmar was ranked at 171.
The report ranks countries base on ten parameters such as starting business, acquiring construction permits and electrification. U Aung Htoo, Deputy Minister of the Ministry of Commerce, said that this year rank is not satisfying and need to work harder to be ranked under 100.
Myanmar is committed to lowering its ranking, and this one-stop window is designed to help them reach a ranking under 100 by the time the Ease of Doing Business report 2020 is release, and rank 40 by 2035 in order to lure more investment.
Commerce, said at the meeting between the vice-president and local businessmen on November 17.
“This system will execute all the procedures necessary in one place to complete the required documents for local or foreign investors, whether they are individuals or groups. These procedures are sometimes hard to understand for foreign investors,’’he added.
The minister said that his ministry will work with other related ministries to provide a one-stop service center for all necessary procedures such as land acquisition, electricity, construction permits, and environment impact assessment (EIA) report as well as hiring workers.
Investors currently have to finish all procedures from one office then travel to other offices for various requirements, which is complex and time consuming.
The World Bank Group announced its Ease of Doing Business 2019 on October 31 this year, and Myanmar was ranked at 171.
The report ranks countries base on ten parameters such as starting business, acquiring construction permits and electrification. U Aung Htoo, Deputy Minister of the Ministry of Commerce, said that this year rank is not satisfying and need to work harder to be ranked under 100.
Myanmar is committed to lowering its ranking, and this one-stop window is designed to help them reach a ranking under 100 by the time the Ease of Doing Business report 2020 is release, and rank 40 by 2035 in order to lure more investment.