11 April 2019
MYANMAR: One-Stop Yangon Service Centre Opened for Overseas Investors
A One Stop Service (OSS) centre, designed to meet the needs of overseas investors, has been launched in Yangon, the country’s commercial capital. Operated under the auspices of the Directorate of Investment and Company Administration (DICA), the centre will facilitate the submission of applications for various investment-related services, including requests for import/export licences, tax registration, visas and work permits.
In addition, potential investors in the Yangon region will be able to apply for a number of investment clearances and government permits via the OSS’ single-window service. These include administrative permissions that fall within the remit of the Yangon Electricity Power Supply Corporation, the departments of labour, immigration, customs, internal revenue, mining, agriculture, fisheries, environmental conservation, housing, and hotels and tourism, as well as the directorates of industrial supervision, inspection and trade. This will represent a streamlining of the current process, which requires overseas investors to coordinate with multiple government agencies.
Would-be investors will also have access to a consultancy and arbitration service as well as guidance on various provisions of the country’s new Companies Law and the Myanmar Investment Law by representatives of the relevant government agencies. The OSS centre has been introduced as part of official moves to improve the country’s standing on the World Bank’s Ease of Doing Business Index.