Virtual review meeting on investment-related business licences, permits and recommendations held

The review meeting on investment-related business licences, permits and recommendations led by Union Minister for Investment and Foreign Economic Relations U Aung Naing Oo was held via video conferencing at 1:00 pm on yesterday.
At the meeting, the Union Minister explained the objectives of the review meeting to streamline the issuing process of relevant licences, permits and recommendations from concerned departments after obtaining the permits and endorsements from the Myanmar Investment Commission (MIC). In this regard, the Union Minister highlighted the major functions of the recent forming of the Review Team comprising high-ranking officials from line ministries led by the Deputy Minister for Investment and Foreign Economic Relations under the guidance of the State Administration Council for ensuring to improve the business environment with the efficient procedure. The Union Minister urged the relevant ministries to cooperate with innovative ways for facilitating the business aiming to recover the country’s economy at the soonest.
Moreover, the Union Minister stressed the important role of digital technology and encouraged to develop the online platform except for some activities to be undertaken manually. He also informed that MIFER, as a coordinating ministry, could negotiate with development partners for the technical assistance for the developement of Standard Operating Procedures (SOPs) in respective ministries.
Then, Deputy Minister U Than Aung Kyaw discussed the functions of the Review Team and work Programmes. Representatives from ministries and organizations discussed scrutiny of licences, permits and recommendations for businesses and easing of restrictions.
After that the Secretary of the Review Team, Deputy Director-General of the Directorate of Investment and Company Administration, presented the detailed schedules of the Review Team.
The meeting was attended by a total of 50 participants, including Directors-General and senior officials from line ministries and the members of the Review Team. The meeting was successfully concluded at 15:30 pm. — MNA