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Reform proposals call for independent investment commission
Published on Monday, 28 January 2013 16:04
A new set of reforms drafted for President Thein Sein includes a proposal to transform the Myanmar Investment Commission from a government-appointed body into an independent board, officials said.
This could bring greater transparency to the process of issuing investment licenses, according to the proposed reforms drafted by experts and senior officials.
The government-appointed commission appraises domestic investment proposals.
A restructuring last year saw economists, businesspeople, former ambassadors and representatives of non-governmental organisations appointed to the commission for the first time since it was established in 1994.
Its key positions, however, are still held by senior government officials, including ministers and their deputies. It is chaired by Presidential Office Minister Soe Thein.
Besides examining investment proposals, the commission considers tax relief and Customs exemptions for investors. It is overseen by the Ministry of National Planning and Economic Development and its decisions are implemented by the Directorate of Investment and Company Administration.