DICA is in the process of improving the coverage and quality of its pilot survey project on FDI statistics to meet international standards

Myanmar Direc­torate of In­vestment and Company Administration (DICA) is currently in the process of improving the coverage and quality of its Foreign Direct Invest­ment Statistics (FDI) with the goal of conforming to International stand­ards, according to an an­nouncement on October 23.

Quality of statistics is essential in guiding Myanmar’s economic-development and policy decisions. At present, My­anmar FDI statistics have already been submitted by Myanmar Investment Commission (MIC), the statement, said.

In this regard, DICA plans to conduct a pilot survey on Foreign Direct Investment (FDI) in My­anmar for the financial years of 2016-2017. This survey is going to be used as the main data source in compiling Myanmar’s FDI statistics, which sum­marizes direct investment transactions and stock po­sitions by non-residents in Myanmar. The project receives technical assis­tance from EU- ASEAN COMPASS Project and International Monetary Fund (IMF).

The pilot survey in­cludes 107 foreign com­panies which are selected randomly among those registered at DICA. The 3-day workshop will be held from October 24-26, 2017 at the head office of DICA for chief account­ants, financial controllers and accountants invited from the selected compa­nies.

The information pro­gram aims at providing explanations on how fill the FDI survey question­naire form. The survey is not related to taxation or any other regulatory re­quirement, it is only for statistical purposes. In­formation will be treated as strictly confidential and will be used only in compiling FDI statistics.

The purpose of this survey is to collect infor­mation on foreign direct investments in Myan­mar. The information the companies provided will be used to compile My­anmar's Balance of Pay­ments and International Investment Position, as well as help decision mak­ers analyze foreign direct investments in Myanmar, the survey form said.

Participating companies are requested to complete the survey form and sub­mit it to DICA before the survey deadline which is on November, 15th 2017. The questionnaire can be viewed and downloaded on DICA website www. dica.gov.mm.

This survey is conducted under the authority of Ar­ticle 6(1) of the Statistics Law. Chapter VI, Article 25(f) of Investment Law also requires that inves­tors must provide accu­rate, complete and timely information to DICA, the statement said.

The confidentiality of the information the com­pany provides is guar­anteed under Article 7.1 of the Central Statisti­cal Authority Act (1952). The information will be combined with informa­tion from other survey respondents to produce complete data for statis­tical purposes only. The individual information will only be accessible to DICA statistics staff, it will not be released to any other individual or organ­ization.

(Myanmar Business Today: https://www.mmbiztoday.com/articles/dica-s-launches-its-pilot-survey-project-statistics-fdi )

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