Strengthening Institutions for a Better Investment Climate (ADB-47268-001)

Countries
  • Myanmar
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 14, 2014
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Ministry of Construction
The holder of the loan, grant, or other investment.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 1.93 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Sep 16, 2019

Disclosed by Bank May 29, 2014


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Project Description

The Government has publicly announced its intentions to draft a new company law and establish an electronic registry in line with its objectives for creating an investment environment conducive to private sector development and inclusive economic growth. The electronic registry is aligned with the Government's intention to promote e-governance. The Interim CPS supports the Government's objectives for improving the investment climate. Reforms to the company registry and registration system are also a policy measure specified in the post-program partnership framework (P3F) of the PBL. The P3F sketches out the Government's reform agenda from 2012 to 2014. Thus, the proposed TA is designed to support the implementation of the P3F. Under a small-scale technical assistance (MYA TA-8114), ADB working with DICA staff carried out

a diagnostics of the 1914 company law and the company registry. Also funded under the TA, in March 2013 a senior official from DICA visited the New Zealand Company Registry Office to assess operations of a first class company registry. The comprehensive and sequenced reform to the company law and registration system rather than a short term, piecemeal approach to reform with its associated higher risks of policy failure. At the same, participants to the World Economic Forum held in Nay Pyi Taw in June 2013 conveyed to the Government of Myanmar the urgency of reforming the company law for private sector development and for attracting quality foreign investors.

 

Investment Description
  • Asian Development Bank (ADB)

This project is funded by a US$ 1.5 million grant from the Japan Fund for Poverty Reduction and a US$ 431,000 supplementary grant from the Technical Assistance Special Fund.

Contact Information

Department of Highways Office Building No. 11 Naypyitaw, Myanmar

 

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main