Ministry of Investment and Foreign Economic Relations (MIFER),The Republic of the Union of Myanmar
VALUES, DEVELOPMENT AND STRUCTURE
VALUES
| VISION | MISSION |
|---|---|
| REALIZE THE POTENTIAL | FACILITATE BUSINESS, PROMOTE INVESTMENT, SUSTAIN THE COUNTRY’S DEVELOPMENT |
OBJECTIVES
- TO INCREASE INVESTMENTS (LOCAL INVESTMENT AND FOREIGN INVESTMENT)
- TO ENCOURAGE PRIVATE ENTREPRENEURSHIP
- TO TAKE PART IN REGIONAL AND INTERNATIONAL ECONOMIC COOPERATION
- TO DEVELOP INSTITUTIONAL FRAMES
MOTTO
D – DUTIFUL
I – INDUSTRIOUS
C – CAPABLE
A – ACCOUNTABLE
WE ARE DICA
DEVELOPMENT
2013: A One Stop Service (OSS) center was established within the DICA headquarters in Yangon to facilitate coordination and the engagement of businesses with other ministries.
2014: DICA moved its headquarters from Nay Pyi Taw to Myanmar’s economic centre, Yangon, to easily cooperate with investors. At the same time DICA, started to branch out to other states and regions, with branches opening up in Nay Pyi Taw, Taunggyi, Mawlamyine and Mandalay.
2015: DICA expanded by 128 members of staff to support DICA’s role as a facilitator of the business community, and its commitment to deliver better services. Processes of company registration and investment application were simplified and properly documented to make doing business easier in Myanmar. Myanmar improves by 29 ranks in the indicator ‘Starting a business’ of the World Bank’s Doing Business Report, making it the country with the biggest improvement in the ease of starting a business in 2014/15. The first Myanmar Investment Fair was organised by DICA in Mandalay.
2016: A new website for DICA was launched to provide better information and services. More branch offices were opened in Pathein, Dawei, Monywa and Hpa-An.
DICA played an active role in enhancing the investment climate in Myanmar with a significant contribution to reforming the regulations governing investment and business activity, with the development of the Myanmar Investment Law (MIL) and Rules. The MIL, which replaced the Foreign Investment Law (2012) and Myanmar Citizen Investment Law (2013), was approved by Parliament in October 2016. DICA provided further assistance to investors looking to start businesses in Myanmar with the publication of the booklet, ‘How to Register Your Company in Myanmar’.
2017: The Myanmar Investment Rules – which explain the compliance requirements of the MIL and the way the MIL will be interpreted – were agreed by Parliament in March and came into effect, with the MIL, from April 2017. DICA branch offices were opened in Bago Region, Magway Region, Kayah State, Kachin State, Rakhine State, and Chin State.
Following a comprehensive survey of companies, DICA published the ‘Cost of Doing Business in Myanmar 2017’ Report, which offered a detailed guide to: the costs of office accommodation, staffing, setting-up, importing and exporting, utilities in Myanmar and more.
DICA also played a key role in the next phase of regulatory reform – including the amendment of the century-old Myanmar Companies Act (1914), in order to be modernised with current laws. On 6 December 2017, the Myanmar Companies Law was enacted with Pyidaungsu Hluttaw Law No. 29/2017.
2018: The Myanmar Companies Law was come into force on 1 August 2018 – by the announcement No. 48/2018 of the President’s Office, and the MyCO Electronic Registration System was launched on 1 August 2018.
Following a comprehensive survey of companies, DICA published the ‘Cost of Doing Business in Myanmar 2017’ Report, which offered a detailed guide to: the costs of office accommodation, staffing, setting-up, importing and exporting, utilities in Myanmar and more.
In order to attract foreign direct investment more effectively, the Ministry of Investment and Foreign Economic Relations (MIFER) was established on 19 November 2018 – according to the announcement No. 87/2018. Following this, DICA was transferred from the Ministry of Planning and Finance to the Ministry of Investment and Foreign Economic Relations.
2019 : Myanmar was one of the 20 most progressive countries in Ease of Doing Business report since Directorate of Investment and Company Administration (DICA) was able to initiate the system “ Myanmar Company Online (MyCO)”. Starting Business ranking of Myanmar was also improved from rank 155th to 70th. The Investment Forums for Kayin, Kayah, Rakhine, Shan, Ayeyarwaddy, Mandalay and Yangon were successfully held to enhance Investment Promotion.
2020: Although there were disruptions of COVID-19 pandemic, the investment inflow of Foreign Direct Investment (FDI) was almost able to fulfill the target amount. The second Investment Policy Review was accomplished. The Directorate of Investment and Company Administration (DICA) will be the insolvency registrar and the preparation to link the company registry system has also been made. The processes to upgrade the website was also implemented as well as Myanmar Investment Directory (MyInDy) system for the easier search of investors list and the system of issuing the Online Recommendation Letter for Visa Extension of foreigners regarding company affairs were also established.
STRUCTURE
Organisational Chart
EDUCATION LEVELS OF STAFF AT DICA
| NO. | Particular | Official | Staff | Total | ||
|---|---|---|---|---|---|---|
| Male | Female | Male | Female | |||
| 1 | PhD | 5 | 3 | 0 | 0 | 8 |
| 2 | Masters Degree | 16 | 71 | 2 | 10 | 99 |
| 3 | Bachelors Degree | 52 | 93 | 37 | 118 | 300 |
| 4 | Still attending University | 0 | 0 | 8 | 11 | 19 |
| 4 | Under Graduate | 1 | 1 | 15 | 9 | 26 |
| Total | 74 | 168 | 62 | 148 | 452 |
RESPONSIBILITIES
- Administering and improving staff capacity – and preparing, amending and getting approval for organisational chart
- Responsible for staff appointments, increments, promotions, transfers, investigations, demotions, getting actions, dismissals, and pensions
- Administering leave allowances, service periods, compensation and issuing the Last Payment Certificate
- Maintaining the following staff documents: Service Book, Personal File, Long Roll, and Leave Register
- Responsible for government gazette files and internal directives files, keeping records for pension date for all staff, and awards given by the State
- Administering the requirements of stationery by the departments, and processing inward/outward letters
- Maintenance of the office building and staff apartments
- Purchasing, systematic using, maintaining, recording, and reselling office equipment
- Purchasing, managing usage, maintaining, recording, reselling auto mobiles for office use and recruiting drivers
- Purchasing, managing usage, maintaining, recording, reselling office appliances and office furniture
- Administering the vehicles for preparing, maintaining, submitting allotment and coordinating to CESID department
- Recruitment for the administration of sanitation and cleaning
- Recruitment of building security workers
- Preparing budgets to be in line with the directives of the concerned department
- Collecting fees for company registration and other activities
- Preparing weekly financial reports and monthly financial reports
- Administration and processing of department expenses
- Paying staff salaries, travelling allowances, and overtime allowances
- Processing, recording and collecting data, and information of the different departments
- Processing and maintaining computer hardware, software and other related accessories
- Supporting technology to the required departments for computerisation
- According to the Myanmar Companies Law (2017), Private Company Limited by Shares, Public Company Limited by Shares, Private Company Limited by Guarantee, Unlimited Company, Company Limited by Guarantee (Association), Public Company Limited by Shares under the Special Company Act 1950, Private Company Limited by Shares under the Special Company Act 1950 and Overseas Corporation registration with MyCO electronic online registration system
- Companies submit to change company name, office address, Share, Director changes, Members change on MyCO electronic online registration system
- Winding up of company, Overseas Corporation and Business Association on MyCO electronic online registration system
- Processing the assignment of audit in special companies
- Processing incoming application letters of daily inbox
- Processing recommendations to Ministry of Immigration and Population for visa extensions of employees, directors and members of foreigner in companies and Overseas Corporation
- To send staff to local and foreign training courses to increase their capability and efficiency who can perform locally and internationally.
- To carry out sector-specific training courses to improve staff capacity and staff qualification for smoothly departmental work.
- To research for local and international economic policy affairs and current affairs to benefit Myanmar economy.
- Report an appropriate policy option based on observing Global, Asean and Myanmar economy trends for the sustainable development and support the necessary reform process within Myanmar.
- Issuing MIC Permits for the agriculture, forest, livestock, fisheries, and foodstuff sectors – under Myanmar Investment Law
- Explaining rules, regulations, procedures, and sharing information on investment opportunities with local and foreign investors and consultants
- Making checklists to evaluate proposals – such as financial justification and machinery. Submitting these to the Proposal Assessment Team and requesting the State or Regional government and relevant ministries’ comments at the same time
- Issuing the applicant with a requirement letter showing the policies and economic justifications/changes required by the Proposal Assessment Team
- Analysis of the economic justification re-submitted by the company
- Preparing letters for the applicant when it is necessary to amend their proposal in accordance with the recommendation of relevant ministries
- Submit to MIC Meeting proposals that are completely analysed
- Issue MIC Permit for proposals approved by the MIC
- Media transparency for investment information related to the MIC
- Amend permits for promoter’s name changes, increased investment amounts, company’s address changes, extended and amended investment place, and business name changes and etc.
- Carry out the development of Special Economic Zones in accordance with law, rules and regulations
- Support the Myanmar Special Economic Zone Central Working Body
- Submit weekly reports on the implementation of Special Economic Zones to the President’s Office
- Issuing MIC Permits for the garment sector, and small, middle, and heavy industry sectors under Myanmar Investment Law
- Explaining rules, regulations, procedures, and sharing information on investment opportunities with local and foreign investors and consultants
- Making checklists to evaluate proposals – such as financial justification and machinery. Submitting these to the Proposal Assessment Team and requesting the State or Regional government and relevant ministries’ comments at the same time
- Issuing the applicant with a requirement letter showing the policies and economic justifications/changes required by the Proposal Assessment Team
- Analysis of the economic justification re-submitted by the company
- Preparing letters for the applicant when it is necessary to amend their proposal in accordance with the recommendation of relevant ministries
- Submit to MIC Meeting proposals that are completely analysed
- Issue MIC Permit for proposals approved by the MIC
- Media transparency for investment information related to the MIC
- Amend permits for promoter’s name changes, increased investment amounts, company’s address changes, extended and amended investment place, business name changes and Termination etc.
- Issuing MIC Permits for the services sector, infrastructure sector, and related sectors – such as: construction, transportation, Hotel, telecommunications, and industrial zones under the Myanmar Investment Law
- Explaining rules, regulations, procedures, and sharing information on investment opportunities with local and foreign investors and consultants
- Making checklists to evaluate proposals – such as financial justification and machinery. Submitting these to the Proposal Assessment Team and requesting the State or Regional government and relevant ministries’ comments at the same time
- Issuing the applicant with a requirement letter showing the policies and economic justifications/changes required by the Proposal Assessment Team
- Taking minutes of Proposal Assessment Team meetings
- Submit to MIC Meeting minutes of weekly Proposal Assessment Team meetings
- Analysis of the economic justification re-submitted by the company
- Preparing letters for the applicant when it is necessary to amend their proposal in accordance with the recommendation of relevant ministries
- Submit to MIC Meeting proposals that are completely analysed
- Issue MIC Permit for proposals approved by the MIC
- Media transparency for investment information related to the MIC
- Amend permits for promoter’s name changes, increased investment amounts, company’s address changes, extended and amended investment place, and business name changes and etc.
- Issuing MIC Permits for the mining, energy, oil and gas sectors (and related sectors), under the Myanmar Investment Law
- Explaining rules, regulations, procedures, and sharing information on investment opportunities with local and foreign investors and consultants
- Making checklists to evaluate proposals – such as financial justification and machinery. Submitting these to the Proposal Assessment Team and requesting the State or Regional government and relevant ministries’ comments at the same time
- Issuing the applicant with a requirement letter showing the policies and economic justifications/changes required by the Proposal Assessment Team
- Analysis of the economic justification re-submitted by the company
- Preparing letters for the applicant when it is necessary to amend their proposal in accordance with the recommendation of relevant ministries
- Submit to MIC Meeting proposals that are completely analysed
- Issue MIC Permit for proposals approved by the MIC
- Media transparency for investment information related to the MIC
- Amend permits for promoter’s name changes, increased investment amounts, company’s address changes, extended and amended investment place, and business name changes and etc.
- Responsible to facilitate and grant all post-permit activities such as importation of machineries, equipment and raw materials for Myanmar Investment Commission (MIC)’s permitted investments
- Issuing tax exemption and relief that is enjoyable for permitted investments under the approval of Myanmar Investment Commission’s meeting
- Providing recommendation letter of foreign technicians’ appointment for permitted investments
- Monitoring for amendment of Myanmar Investment Commission’s permits or endorsements or tax exemption or land use right
- Observing and issuing other approval concerning with investment for Myanmar Investment Commission’s permitted investments
- Provide coaching and guidance for submission of investment report within set period of time
- Checking and monitoring to comply duties and responsibilities of permitted investments by doing field inspection
- Submitting and taking approval from Myanmar Investment Commission’s meeting for investors’ general matters that are submitted to MIC
- Arranging for holding of Myanmar Investment Commission’s meeting
- Conducting workshops, seminars and meetings – in collaboration with local and foreign organisations involved in investment promotion
- Coordinating and cooperating with foreign and local organisations for investment promotion affairs
- Uploading updated investment data, information, news, procedures and rules and regulations on DICA’s website
- Publication of Investment Guide Books
- Arranging courtesy calls with MIC members
- Outbound investment promotion
- Performing external and internal investment promotion activities
- Collecting company registration and investment data for planning laws and regulations, and policy-making
- Producing various investment reports for internal government institutions, and the Union Minister’s Office – for the purpose of the transparency
- Obtaining technical assistance from the Central Bank of Myanmar, ASEAN Secretariat Office, International Monetary Fund (IMF), and other international organisations
- Supporting the Investment Statistics National Level Working Group
- Encouraging the settlement and expansion of a dynamic investment network
- Managing and monitoring the accurate acquisition of foreign and local investment statistics
- Supporting investment promotion by establishing investment network infrastructure
- Maintaining the security of computerised data and information
- Establishing a plan to increase the use of computers throughout DICA
- Be responsible and accountable concerning the use of information and technology
- Implementing e-Government projects with the government’s guidance
- Research and analysis of investment flows based on accurate statistics
- Ascertaining and advising the policies to develop the business enterprises for the better economic environment of the country.
- Conducting to announce the investment related law, rules, regulations, notifications, directives and standard operating procedures.
- .Implementing the investment related activities such as seminars, conferences, workshops, meetings, negotiations in domestic and abroad.
- Discussing the implementation and application of the Myanmar Investment Law upon receiving the invitation from local and foreign organizations.
- Acting as a negotiator for the Investment Chapter under the ASEAN Free Trade Agreements and the Regional Comprehensive Economic Partnership (RCEP) Agreement.
- Implementing the Investment Chapters under the ASEAN Free Trade Agreements and the regional Comprehensive Economic Partnership (RCEP) Agreement.
- Conducting the matters relating to the Bilateral Investment Agreements.
- Conducting the matters relating to the cooperation agreements and MoUs.
- Analyzing and Recommending on the draft agreements and memorandum of understanding of Ministries and other governmental organizations.
- Conducting the matters related to the international and regional organizations (like ASEAN, GMS, ACMECS, BIMSTEC, OECD, UNCTAD, WTO, United Nations, ESCAP).
- Conducting the MOU with the international organizations for the investment promotion.
- Conducting the matters related to the investment dispute settlement.
- Implementing the matters for the improvement of the investment environment.
- Preparing the meeting minutes of the Myanmar Investment Commission in a timely manner. .
- Providing legal analysis and advice on investment matters.
- Conducting research on investment issues.
- Conducting the weekly, monthly, half-yearly and annual reports and the follow up procedures.
- Performing duties and responsibilities assigned by the Head.
- Providing information relating to investment opportunities and the economic environment to foreign and local entrepreneurs who have are interested in doing business in Myanmar
- Issuing export/import licenses for investment projects(Yangon Region)
- Scrutinising, consulting and processing tax-related matters
- Providing services for administrative work on customs clearance
- Coordinating with relevant departments on electricity requirements
- Coordinating with relevant departments on the employment permission for the recruitment of experts and technicians from abroad
- Providing services for getting visas, stay permits and visa extensions
- Scrutinising and issuing investment-related licenses and permits which are need to apply to relevant departments
- Service provided for labor registration
- Coordinating with concerned departments on industy-related matters