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(II)  APPLICATION
(1)  AGENCY/IES INVOLVED IN ADMINISTERING INVESTMENT APPLICATION AND GRANTING OF INCENTIVES
The Myanmar Investment Commission (MIC)

MIC was established to be the initial approving authority for foreign investment activity in the country. Its major responsibility is to evaluate foreign investment proposals. It also has the authority to stipulate terms and conditions of investment permits and evaluate foreign investment situations.
(2) CONDITIONS INCLUDING TIMETABLE FOR PROCESSING OF APPLICATION


The following are the application procedures:
• A promoter for foreign investment shall submit a proposal in the prescribed form to MIC. The MIC will issue a Permit if the proposal is approved.
• If the approved economic activity is to be formed as a limited company, it must apply for Permit from the Ministry of National Planning and Economic Development through the Company Registration Office.
• After being granted a Permit, the company must be registered with the Company Registration Office under the Ministry of National Planning and Economic Development.
• A company involved in foreign trade has to apply for registration as an exporter/importer with the Ministry of Commerce.

The duration for processing an application will take 4-6 weeks if the documents are in order and complete Proposal Form attached. (Refer to Section 1 “Procedures relating to the Union of Myanmar Foreign Investment Law”).

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