Trade Department Director-General U Minn Minn said in Nay Pyi Taw that the legislation was still in the consultation process and would be referred to the Attorney General within four months, by mid-April and the Myanmar new year. Lawyers for the World Bank and Germany’s development agency GIZ were involved in the process, he said.
Trade officials stressed that, contrary to what some lawyers argued, the law would streamline procedures for investors, improve the ease of doing business, enhance transparency and help facilitate trade. U Minn Minn was responding to concerns expressed by business executives, as reported by The Myanmar Times, that the law would require many companies to submit to another layer of government approval and enable ministries to further regulate broad areas of the economy.
U Minn Minn said this was a misunderstanding and the ministry has no intention to ask companies to apply for an additional permit.
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