While most projects no longer require Myanmar Investment Commission (MIC) approval, those meeting certain criteria will continue to need to do so.
Project proposals continuing to require a MIC permit include businesses which are: strategic to the Union, have large capital investments, have a large potential impact on the environment and local community, involve state-owned land, or are designated by the government as needing a permit.
In addition to Myanmar Investment Commission (MIC) Permits, the Union Government has introduced ‘Endorsements’ as a fast-track way to doing business in Myanmar. Investors can apply to the MIC or the State and Regional Investment Committee for an Endorsement of an investment proposal.
The following are post-permit activities, which are only applicable to companies holding a MIC Permit.
Company incorporation is carried out by DICA in accordance with the provisions of the Myanmar Companies Law (2017); and investment proposal applications come under the Myanmar Investment Commission (DICA is the secretariat of the MIC).