The Directorate of Investment and Company Administration (DICA) plans to expand the digitalization for all its services and all procedures for permit application to Myanmar Investment Commission (MIC). It is to facilitate the processes and assist to anti-corruption measures and to be of international standard in activities.
DICA launched its electronic system, Myanmar Companies Online (MyCo) in August, 2018 to simplify business registration and eliminate unnecessary bureaucratic restrictions. Although company registration is digitalize, applying for a work permit and visa application is still in paperwork. DICA acts as the secretary to the MIC, supporting the commission’s operation. But, an investigation by this paper last year revealed that MIC has yet to systemically disclose investment proposals before approval or properly scrutinize proposals.
DICA is preparing software so the online system will provide services including granting permits on behalf of the investment commission. It is working with the World Bank and International Finance Corporation on the technology support according to U Thant Sin Lwin, DICA director general.
Source: The Myanmar Times