The Directorate of Investment and Company
Administration (DICA) of Myanmar has required all registered
companies to file a notice to confirm that they are still
actively engaged in business.
DICA’s notice, issued late last month,
gave companies just 19 days to inform the regulator of their
existence to DICA. It states that if companies do not comply,
'DICA may take appropriate action in accordance with the
Myanmar Companies Act 1914’.
But local market participants said DICA had communicated
orally elsewhere that companies would be removed from the
register altogether for failure to notify.
"There’s a little bit of confusion and
uncertainty over the short timeline, and the exact basis on