Aung Naing Oo, secretary of the Myanmar Investment Commission and director-general of the Directorate of Investment and Company Administration, said Myanmar is on the right track to attract both foreign and local investors. "The FDI Law offers better tax incentives than the Myanmar Citizen Investment Law. On the other hand, foreign investors might also think that Myanmar gives preference to its citizens. "It is too early to comment on whether the new law will help grow local businesses and industries. He said that the new investment law seeks to lighten the load on the MIC as well as speeding the approval process.The new law specifies two types of submissions to the commission.

Source: The Nation Bangkok October 09, 2016 18:00 UTC