The Consultation workshops for Investor’s Grievance Mechanism (IGM) which is a mechanism to resolve and prevent the occurrence of disputes and carry out the relevant inquiries for the investment issues before reaching the stage of legal dispute, was held at Amara Garden Resort Hotel, Bagan on 10 May 2018 with the collaboration of the Directorate of Investment & Company Administration, Ministry of Planning & Finance, Myanmar Investment Commission and International Finance Cooperation (IFC) for respective officials of regions and states from upper Myanmar.
The objective of the consultative workshop is to have awareness of the importance of IGM under Myanmar Investment Law-(2016), to understand the potential sources of investors’ grievances, to discuss the possible structure and functions of IGM, together with the best practices from other countries and to understand the roles of regional investment committee (regional governments) in the investment approval process and the implementation of IGM.
It was attended by 50 participants including H.E. U Maung Maung Win, Deputy Minister, Ministry of Planning and Finance, U Aung Naing Oo, Secretary of Myanmar Investment Commission and investment committee members from states and regions and other representatives from relevant ministries.
At the workshop, H.E. U Maung Maung Win, Deputy Minister, Ministry of Planning & Finance, U Myat Thu, Minister for Planning and Finance, Mandalay Regional Government, U Aung Naing Oo, Secretary of Myanmar Investment Commission and U Thitsar, Private Sector Specialist, International Finance Cooperation, delivered opening remarks respectively and the presentation from DICA was continued with the tile, “The Activities of Investors’ Assistance Committee and Challenges” by U Aung Naing Oo, Secretary of Myanmar Investment Commission. “The Concept and Function Investor Grievance Mechanism (IGM) and the Best Practices of IGM” was presented by Mr. SufianJusoh, Investment Legal Advisor, IFC/World Bank Group. Then, Mr. Chris Hughes, Partner, BLP Law Firm, made a presentation on the “Myanmar Investment Law: the proposed Legal Framework for Investor Grievance Mechanism and key policy considerations”.
After that, the workshop was opened for Q&A section. The workshop was concluded in the evening, giving closing remarks by U Thitsar, Private Sector Specialist, IFC.