Directorate of Investment and Company Administration (DICA) implemented its online payments for the registration of companies at Myanmar Companies Online (MyCO) website

The Directorate of Investment and Company Administration (DICA) has announced that it is now able to accept online payments for the registration of companies at its Myanmar Companies Online (MyCO) website.

DICA previously accepted cash payment for company registration at its headquarters and branches offices for the convenience of people who did not have credit cards.

DICA says the ability to accept payments online from people who have credit cards effective this month is part of its efforts to make MyCO a fully online system.

The registration of companies through MyCO was launched on August 1, 2018, to simplify the setting up of businesses in the country.

The removal of unnecessary restrictions on registering companies and the MyCO online registration system have had significant positive impact on the World Bank’s assessment of Myanmar in the Ease of Doing Business report the, said U Aung Naing Oo, permanent secretary of the Ministry of Investment and Foreign Economic Relations.

In starting a business, Myanmar leapt to 70th place from 152nd according to the World Bank’s report of the Ease of Doing Business Ranking 2020 for 190 countries.– Translated

(The Myanmar Times: https://www.mmtimes.com/news/online-payments-now-available-company-registration.html )

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