A description shamelessly lifted from a website (private company, not official):
Myanmar Investment Commission (MIC)
In April 1994, The Myanmar Investment Commission (MIC) was formed under the Ministry of National Planning and Economic Development. MIC is a government-appointed body that appraises Foreign Investment in Myanmar, Local Myanmar Investment and Joint Venture (JV) Investment Proposals of Myanmar and foreign investors. MIC has been re-established in 2011 and consists of serving Govt. Officials in Service and eminent professionals who are not in service of the Govt. the Republic of the Union of Myanmar. After scrutinizing investment proposals, MIC issues its permit – MIC Permit, which gives investors special privileges, tax incentives, investment protection, etc.
Until recently, the MIC was located in NPT, but they've relocated to Yangon in recent months, just off of Inya Lake.