Myanmar takes new measures to promote foreign investment
2018-08-15 15:09:40 / Myanmar Wood
Myanmar has reformed its investment commission recently and will soon enforce a new companies law in a bid to promote foreign investment.
The new Myanmar Investment Commission was reorganized with 13 members with Minister at the Office of the Government U Thaung Tun as chairman.
Along with the enactment of the new Myanmar Companies Law, the commission asked all companies in the country to re-register within six months from the date when the law takes effect on Aug. 1.
The move, partly aimed at attracting foreign investment, will allow the companies to benefit from the new Myanmar Companies Law which has abolished the mandated system of submitting an authorized capital as well as the requirement of an article of association and a memorandum of association previously prescribed.
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Source From: XINHUANET.com
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