Chicken or egg dilemma

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Which came first the egg or the chicken ? You're left asking yourself: Which came first?

In fact, we are not going to discourse on how life and universe in general began.

But I am going to shed some light on facilitating the dealing process  between investors and the authority.

Recently, a respectable potential investors rushed to my office, scratching his head, he said,

" you may have some solution to my issue. I spoke with a concerned official at MIC and he informed that when submitting investment proposal land lease agreement must be included." He went on " So I went back to concerned Ministry and local authority to ask how to make a land lease agreement for my  project. Both of them mentioned that they need MIC approval, and without that they can't move any further". It's a chicken or egg issue! What am I going to do ? Just advise me."

I said " Cool down Mr Chairman, there might be some solution to this. I would settle this after discussing with authority. Please give me time one or two days."

 I drove down to Nay Pyi Taw and discussed with senior officials from the concerned Ministries. And the fact is they were not aware of this issue either.  After some constructive discussions I came back with solution to this.

I  called the Chairman and he was pleased to come to my office. I said, " I have the a solution to  chicken or egg issue. MIC will accept your investment proposal together with draft land lease agreement, without signature from both sides. And in turn you have to approach to the concerned Ministry and request for draft land lease agreement. Each Ministry has been informed on this. But you have to make sure about the rates, Land use premium even though it is a draft. It means before submitting to MIC everything must be settle with the ministry. So I hope this could cool down your headache " I said.

After the enactment of new Foreign Direct Investment Law, more and more potential investors have been rushing into Myanmar. In the changed backdrop, from the authority's perspective, deciding where to start is often a complex argument.  It's important first to clarify what you want to achieve, and then find the most appropriate way to get there.  The procedures of submitting project proposal process to MIC  are get simplified accordingly. Now we know which one to start with.

MIC = Myanmar Investment Commission