Investment office opens to boost Rakhine’s economy

October 30, 2017

A ceremony to open a Rakhine State Directorate of Investment and Company Administration office and office of the directorate head was held in Rakhine State government office compound in front of the said office yesterday morning.

First, Rakhine State minister of planning, finance, tax and economy U Kyaw Aye Thein and Directorate of Investment and Company Administration Director General U Aung Naing Oo jointly cut the ceremonial ribbon to open the office.

Next, Myanmar Investment Commission Chairman, Union Minister for Ministry of Planning and Finance U Kyaw Win and Rakhine State Chief Minister U Nyi Pu pressed a button to unveil the sign board of Rakhine State Directorate of Investment and Company Administration (DICA) office. The Union Minister, the Chief Minister and ceremony attendees then inspected the State DICA office.

Afterwards an explanation about investment status and procedures was held in the State Government meeting hall where Union Minister U Kyaw Win and State Chief Minister U Nyi Pu delivered an opening address.

DICA Director General explained about the reason for opening the office and the first five companies that register in State DICA office were presented with company registration certificate by State Minister U Kyaw Aye Thein. This was followed by DICA Director General and Deputy Director General explained about setting up businesses, registering and investment procedures and attending business persons asked related questions.

“In the past, businesses in Rakhine need to go to Yangon and Nay Pyi Taw to register a company and any other matters related to Myanmar Investment Commission. By opening an office here, they no longer need to go anywhere else and do everything within their own state. Once the local businesses are firmly established, necessary assistance can be provided to link them up with foreign investors. Local businesses can also conduct many things with less cost in time and many. If they are not sure of anything regarding the investment law, establishing a company etc., they can easily contact this office. Businesses in the state can establish and expand their works easily and conveniently” said DICA Director General U Aung Naing Oo.

A local business person was heard welcoming the opening of this office and invited local and foreign investors to come and invest in Rakhine State.

Tin Tun (IPRD)

Ref; The Global New Light of Myanmar