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Myanmar Companies Act an important key to transforming the economy

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Businessmen and economists have been eagerly awaiting a crucial piece of legislation that could have a transformative effect on the Myanmar economy.
Myanmar Companies Law is a major step to transform the Myanmar economy and it will beneficially affect the influx of foreign investment in domestic businesses, Aung Naing Oo, director general at Directorate of Investment and Company Administration (DICA) under the ministry of planning and finance, stressed at an official briefing on the Myanmar Companies Law, which was held on December 13 at the Melia Yangon Hotel.
He said the new law will encourage informal businesses as well as unregistered enterprises to register and so the businesses can easily set up and grow. Moreover, the law will also help improve the partnerships with overseas businesses that will provide many opportunities.

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