MIC plans to reduce SME registration fee

Zeyar Nyein
The Myanmar Investment Commission meeting took place on January 19.
The Myanmar Investment Commission (MIC) is planning to reduce the registration fee for small-and medium-sized enterprises (SMEs), it announced at a press conference. 
Aung Than Kyaw, deputy director-general of the Directorate of Investment and Company Administration, said: “The MIC plans to reduce fee significantly. It is too early to reveal the exact amount. The move is to enable starting businesses to reduce their costs as much as they can.”
The current company registration fee is around K500,000, but general expenses take the total to K1 million.
Currently, the DICA calculating ways in which the registration fee will be reduced. 
The plan is to enable all SMEs to make official registrations and the smooth operation of loan schemes and the export sector, Than Aung Kyaw added.
Priority will be given to the official exports of SME products to international markets. Currently, the MIC is working to explore the new markets.