Wood Based Department FAQ
Question1: With which ways can we invest in wood based industry sector in Myanmar?
− According to the chapter 5 of the foreign investment law (the pyidaungsu hluttaw law no 21/2012) enacted at 2nd November, 2012,
The investment in wood based industry sector may be carried out in any of the following forms:
(a) Carrying out an investment by a foreigner with one hundred per cent foreign capital on the MTE‘s timber industry business;
(b) Carrying out a joint venture between a foreigner or a citizen and MTE;
(c) Carrying out by any system contained in the contract which approved by both parties of MTE and investor;
What supports are available for the factory in WBI investment?
Myanma Timber Enterprise arranges for WBI investors to be able to buy the appropriate raw logs supply by means of Open Tender & Special Open Tender Sale system. Monthly Open Tenders & Special Open Tenders are always held at the Headquarter Office of MTE, Yangon.
How can the public purchase wood based products including furniture?
The Wood-based Industry Department of MTE manufactures the wood based products including furniture at No.1 Furniture Factory, Yangon. Especially, the mass volume of production may be for the office & school use but occasionally the department also pay attention to the special offers with desired design.The one who wish to buy the wood products for residential use can offer the desirable products to the Ministry. Besides, they can fulfil their needs at the Furniture Fair exhibited annually in April & October by Myanma Timber Merchants Association.
What are the investment procedures to do the business in Wood based Industry sector? How can be MTE’s assistance to the investors?
Due to the procedures and guidelines of Foreign Direct Investment Law and the Draft of Myanmar Citizen Investment Law, investment in wood processing sector will be admitted by the appraisal of Ministry of Environmental Conservation & Forestry.The procedure for investment is as followed;
$1(a)For 100% investment, the investor or the promoter shall, in submitting proposal to Myanmar Investment Commission(MIC), fill the Proposal Form (1) by completing the particulars and signed by the promoter or investor:
$1(b) In submitting the proposal which is natural resource-based investment businesses and investment under the State-owned Economic Enterprises Law, shall be submitted to the Commission
through the relevant Union Ministry.
$1(c)The Ministry of Environmental Conservation and Forestry shall reply the recommendation letter by scrutinizing the measures for protection or minimization of environmental and social impacts, signed by Union Minister or responsible personnel on behalf of the Union Minister.
$1(d) The promoter or investor shall submit , if Joint Venture, investment proposal together with the following documents;
$1- Joint Venture Agreement Contract
$1- Land lease agreement contract
$1- company formation and registration
$1- Memorandum and Articles of Association
$1- Other documents concerned.
$1(e)The Commission shall form the Proposal Assessment Team to scrutinize the completed proposals respectively with the senior officials from the relevant departments:
$1(f) In general, the investor should cooperate with Myanma Timber Enterprise in order to speed up the process of Proposal Assessment.
