MEETING WITH GOVERNMENT MINISTRIES ON THE MYANMAR COMPANIES LAW (2017) AND MYANMAR COMPANIES ONLINE REGISTRY (MYCO)

With the commencement of the Myanmar Companies Law 2017 and launching of the new electronic registry, the Myanmar Companies Online (MyCO), on 1st August 2018, Myanmar’s corporate landscape will change significantly. A meeting for above measures was held with related ministries at Park Royal Hotel, Naypyitaw on 3rd July 2018.  In the meeting Director General U Aung Naing Oo explained the key changes of the Myanmar Companies Law 2017, the procedures for the new electronic registry and discussed with relevant ministries regarding the new law’s changes to be considered for policy alignment. Also Director U Myo Min explained features of MyCO registry system and companies’ information available on the new system.  The meeting was attended by approximately 70 officials from relevant ministries and officials from Directorate of Investment and Company Administration (DICA) and headed by Director General. It was then followed by discussions led by the Director General regarding necessary preparations from relevant ministries for the new Companies Law and MyCO registry system, such as facilitation of licensing processes and consideration of necessary policy alignment with Myanmar Companies Law 2017.