New Myanmar Investment Commission formed
YANGON - The new Myanmar Investment Commission (MIC) was formed on Tuesday, having Planning and Finance Minister Kyaw Win as its chairman.
According to the Union government’s announcement No. 43/2016, the MIC will consist of 11 members, against 13 in the previous commission set up on May 28, 2014.
Sitting in the committee will also be Commerce Minister Than Myint who will act as the vice chairman. One third of the new commission members are cabinet members, as well as Union Attorney General Tun Tun Oo.
Aung Naing Oo, director general of the Directorate of Investment and Company Administration (DICA), will serve as the secretary of the new commission while Mya Thuzar, retired deputy director general of DICA, is named the joint secretary. Both of them also served the previous commission.
Three permanent secretaries of Natural Resources and Environment Conservation, Commerce, as well as Planning and Finance are also new members.
Aung Naing Oo said that the new MIC would soon hold an internal meeting to review and approve more than 100 investment proposals. He said that more than half of the proposals are from foreign companies.
The previous commission received 5-10 investment proposals weekly, he added.
