HomeMMBIZ NewsSME Registration Processing Time Slashed to One Day

SME Registration Processing Time Slashed to One Day

A streamlined nationwide processing system to grant registration in one day to private small and medium enterprises (SMEs) has been implemented this month, according to a senior official from the Industrial Administration Department (IAD).

“If all the required documents are presented, state and regional level offices will complete the registration processes in one day,” U Khin Maung Than, director of the department told Myanmar Business Today.

“Most applications are for the manufacture of products that are in demand and food products or for rice milling operations,” he added.

Over 43,000 SMEs have been approved for registration where small industrial firms account for 80 percent of the number. Previously, firms had to forward their applications to the headquarters in Naypyitaw in addition to securing approval from relevant departments.

Currently, administration and inspection officials are conducting provisional inspection campaigns in 14 states and regions including Naypyitaw special territory as part of the process to grant registration for SMEs in a single day, IAD said.

To expedite the inspection process, the department has asked the private SME owners to prepare and present corroborating licences and permits issued from departments related to the nature of the enterprise.

The SMEs also have to submit a statement from a manager or an owner about the value of investment and production, precautions to avoid disturbance to the surroundings and pollution, and precautions for fire safety and employees’ health and safety.

The findings of the inspection teams are reported to the weekly meeting of the central administration team for private industries, which then scrutinises them and issues recommendations with which SMEs can secure their registrations.

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