Regions can approve up to US$5m investments
The maximum amount of investments which can be approved by regional and state governments has been set to US$5 million. Region and state investment commissions will now be able to approve proposals without having to seek permission from Myanmar Investment Commission, according to an announcement from MIC chair U Kyaw Win on March 3. “Some authorities are delegated to regions and states to facilitate investment processes. For restricted businesses, they will still need to seek the approval from Myanmar Investment Commission,” MIC secretary U Aung Naing Oo told the Myanmar Times.
