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Procedures Relating to Permission
to carry out Economic
Enterprises Defined Under Section 3 of the State-Owned
Economic Enterprises Law
The Government may, in the interests of
the State, permit any enterprise which is prescribed under Section 3
of the State-owned Economic Enterprises Law to be carried out solely
by the Government, in any of the following form:-
- Joint-venture between the organisation
and a citizen or a foreigner:
- Joint-venture between the
organisation, a citizen and a foreigner:
- Joint-venture between a citizen and a
foreigner:
- Enterprise by a citizen or a foreigner:
When any citizen or any foreigner applies
to carry out any economic enterprise which is prescribed under Section
3 of the said law, the following procedures are required:-
- (a) Application shall be made in
attached Form (A) to the State Economic Organisation concerned:
- (b) The organization shall submit the
proposal to its ministry together with its comments:
- (c) If the ministry concerned
considers the proposed enterprise submitted by the organization is
not covered by the Union of Myanmar Foreign Investment Law and is
also in the interests of the State, the ministry concerned shall
submit the following particulars together with explanations and its
comments, to the Government:-
- Type of business to be carried
out;
- Type of organisation to be formed;
- Estimated amount of capital to be
invested;
- Financial arrangement;
- Duration to be carried out:
- Estimated income and expenses;
- Economic and socal justification
for the State:
- Conditions to be prescribed.
- (d) If the proposed submitted by the
organisation is covered by the Union of Myanmar Foreign Investment
Law, the ministry concerned shall obtain the approval of the
Government;
- (e) If the proposal submitted under
sub-paragraph
- (c) and (d) is considered to be in the
interests of the State, the Government or the Ministry authorised
for this purpose may, by notification, permit it to be carried out,
with appropriate conditions;
- (f) If the ministry concerned
considers the proposal submitted by the organisation to be not in
the interests of the State or if the Government does not permit, the
proposal may be rejected. Such rejection shall be communicated to
the applicants.
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