The following are ministries that are especially relevant for foreign investors to Myanmar:
Ministry of National Planning and Economic Development
This is the ministry tasked with overseeing foreign investment and setting Myanmar’s economic policies. It also deals with forecasting and reviewing Myanmar’s economic performance. Foreign investors will mostly have contact with this ministry through the Directorate of Investment and Company Administration (DICA) which directly reports to it.
Directorate of Investment and Company Administration (DICA)
Seen in the past as slow-moving and bureaucratic, the DICA has recently been injected with a new sense of purpose and energy as investment interest in Myanmar has taken off. The DICA is tasked with scrutinizing and analyzing potential foreign investment in Myanmar. The Myanmar Investment Commission which we’ll cover in the legal chapter reports to the DICA.
Ministry of Industry
Confusingly, there used to be two Ministries of Industry (1&2) with separate agendas, separate budgets and separate ministers. This system was abolished in December 2011, and now there is only one Ministry of Industry in Myanmar. Foreigners will only have to deal with the Ministry of Industry if they are operating a manufacturing business. If you’re a manufacturer, you will need to outline your factory’s plan to this ministry in order to get approved for a Permit to Trade (explained in the Myanmar Laws chapter).
Ministry of Commerce
Foreign investors looking to export their products abroad will need to deal with the Ministry of Commerce in obtaining export permits. It is currently not possible for foreign firms to open trading companies in Myanmar, but it is possible to export products that your company has manufactured itself. The Ministry of Commerce also controls border trade and has a lot of influence on the export policies of Myanmar agricultural products.