The Myanmar Arbitration Centre (MAC) will be opened on 3 August at the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry to resolve commercial disputes among Myanmar entrepreneurs, according to the UMFCCI.
The Commercial Disputes Coordination and Mediation Work Committee of the UMFCCI has been trying to set up an arbitration centre since 2017. The MAC has been registered as a company with the Directorate of Investment and Company Administration, and the permission to form the centre was granted on 11 March, 2019.
“Our company is not a normal one like other companies. Ordinary companies need capital investment. When we established the MAC, we didn’t have to put up any capital investment. We only have to implement the MAC with the company’s guarantee,” said Dr Maung Maung Thein, a consultant with the UMFCCI, at a media conference held on 31 July at the MAC at UMFCCI, Yangon.
Although it has been set up to look into commercial disputes, the arbitration centre will have the authority to issue punishments, he said. Once the MAC is opened, disputes need not be taken to the court of law, thus helping people save money and time, he added.
Currently, a training course is being conducted for 42 experts, who will be responsible for hearing commercial disputes brought to the MAC. The arbitrators will have to remain free from corruption, said Dr Maung Maung Thein.
“The MAC will be opened on 3 August. Clients will be able to hire any arbitrator from MAC, for a fee. But, arbitrators from MAC will work for profit. The centre can launch operations next month. We haven’t decided on the charges yet,” he added.
The center will allow clients involved in disputes to negotiate under their preferred law and procedures, he added.
“We will not negotiate labor issues because there are already judges for hearing disputes between employers and employees. The MAC will also not negotiate in government investment matters,” said U Hnin Oo, the Managing Director of the MAC.
The Commercial Disputes Coordination and Mediation Work Committee was formed in 2016. There were over 80 commercial disputes between 2016 and 2018.
The Arbitration Law, enacted on the basis of the India Law of 1944, was revoked, and the Determination of Arbitration Law was enacted with 58 sections on 5 January, 2016.
In 2018, the Supreme Court announced an order related to the Determination of Arbitration Law.
By Aye Yamone(Translated by Hay Mar)