The leaders of the American Chamber of Commerce in Myanmar (AMCHAM) and Myanmar Government discussed the ways to improve the ease of doing business in Myanmar in order to attract more US investments in Myanmar

Leaders of the American Chamber of Commerce in Myanmar (AMCHAM Myanmar) met with government officials yesterday to discuss ways to improve the ease of doing business in Myanmar, lower the cost of doing business and ultimately attract more US investment. 

Among the attendees of the forum were U Soe Thein, Deputy Governor, Central Bank of Myanmar, Dr. Ye Myint Swe, Deputy Union Minister, Ministry of Natural Resources and Environmental Conservation, U Aung Htoo, Deputy Minister, Ministry of Commerce and U Minn Minn, Director General, Ministry of Commerce. 

Discussions were guided by a Policy Recommendation Paper developed by Amcham Myanmar which outlines specific recommendations on business opportunities and ways to tackle immediate challenges to enable businesses to thrive. 

During the forum, Amcham Myanmar suggested ways to streamline procedures and implement clear standard operating procedures (SOPs) to make day-to-day transactions easier and more efficient. Specific recommendations that were discussed included establishing a one-stop Visa Center to process business and work visas for foreigners working at local companies and streamlining the required documentation for commercial tax. 

The chamber recommended ways to improve drafting, dissemination and implementation of laws. For example, the interpretation of labour law should be clarified and standardised across all township offices to ensure consistent implementation. 

It also proposed an institutionalised process to develop new legislation, which includes a reasonable period for broad public consultation, and which takes into account feedback from the private sector and the foreign investment community.

While power generation projects have accelerated recently, AmchamMyanmar highlighted power supply as a key focus area to meet the growing demand and as a vital requirement to sustain business operations.

Amcham Myanmar will publish the full Policy Recommendation Paper in the coming weeks and engage with the relevant government ministries and departments about possible implementation of the recommendations.

(The Myanmar Times: https://www.mmtimes.com/news/govt-amcham-myanmar-discuss-ways-attract-us-investments.html )

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