New Myanmar Companies Law and Business Potentials of Myanmar
Myanmar was one of the richest countries in ASEAN last 1950s.But it’s one of the poorest counties in the world after 60 years over.Why? I think the main point is political system of the country. The military government ruled nearly for 60 years.Under the military dictator the country is more and more poorer and education,health and living stand of the people is also lower.So in 1988 August,Myanmar people called for democracy and people protested the government. Myanmar people noted it four eights,8888,of democracy revolution. After 22 years later, 2010,Myanmar could start the first parliament election according to the 2008 constitutional law.In the first election USDP party founded by former military leaders won most of the seats in the parliament(Hluttaw).In the second election 2015,NLD party leading by Daw Aung Sun Suu Kyi won nearly all of the seats in the Hluttaw with the motto Time to Change.
Now NLD government is trying to get some achievements in all sectors of the country.Recently,they made some changes to promote their potentials.They replaced the President U Win Myint in the place of U Htin Kyaw and they gave the permission to resign U Kyaw Win,minister of Planning and finance. Now to develope the economic sector, the government enacted a new Myanmar companies law (2017) by Pyithuhluttaw. Moreover,all of Myanmar companies have to reregister starting from 1st August to 31st December 2019 under the new electronic registry system,MyCo.And the government appointed U Soe Win as a new minister of Planning and Finance last month.
The new companies law(2017) has many opportunities for foreign investers to invest in Myanmar.Now Myanmar is warmly welcome to foreign investers to develop the country. According to the moto ,Time to Change of NLD government,they are going ahead to change the life of the people.And I think also the new companies law(2017) and the new experienced minister,U Soe Win, will carry on the benefits of the people and foreign investers.Comes and joins with us and gets prosperities!