Myanmar moved up in the Ease of Doing Business ranking from 171 last year to 165 spot this year according to the initial report of the World Bank

Myanmar has moved up in the Ease of Doing Business ranking to the 165th spot from 171 last year after the initial report of the World Bank, according to U Thant Sin Lwin, the director-general of the Directorate of Investment and Company Administration (DICA), state media reported.

The World Bank report pointed out that Myanmar showed substantial improvements in five areas of doing business—starting a business, dealing with construction permits, registering property, protecting minority investors, and enforcing contracts.

Myanmar launched an online company registry platform, merging several procedures and reducing the need for in-person interaction. It also enacted the Myanmar Companies Law, in which directors’ stipulated duties and changes in shareholding are embodied.

(Mizzima: http://www.mizzima.com/article/myanmar-moves-ease-doing-business-rankings )

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