Myanmar moves up in the Ease of Doing Business rankings

31 October 2019
Myanmar moves up in the Ease of Doing Business rankings
A general view shows the newly built Time City Complex in Yangon, Myanmar, 16 October 2019. Photo: Nyein Chan Naing/EPA

Myanmar has moved up in the Ease of Doing Business ranking to the 165th spot from 171 last year after the initial report of the World Bank, according to U Thant Sin Lwin, the director-general of the Directorate of Investment and Company Administration (DICA), state media reported.

The World Bank report pointed out that Myanmar showed substantial improvements in five areas of doing business—starting a business, dealing with construction permits, registering property, protecting minority investors, and enforcing contracts.

Myanmar launched an online company registry platform, merging several procedures and reducing the need for in-person interaction. It also enacted the Myanmar Companies Law, in which directors’ stipulated duties and changes in shareholding are embodied.