Aung Naing Oo joined Myanmar’sDirectorate of Investment and Company Administration (DICA) in May of 2011 as deputy director-general and was appointed director-general the following year.
He has a long career of public service, including 20 years in the military. This was followed by six years as deputy general manager and then general manager of theexport department at Myanmar Agricultural Produce Trading, an agency subordinated to the Ministry of Commerce.
From there Mr. Aung Naing Oo was named deputy director-general of the minister’s office and subsequently deputy director-general of the Department of Border Trade, both under the Ministry of Commerce, before moving to the Ministry of National Planning and Economic Development to work with DICA.
Mr. Aung Naing Oo has taken training course at various institutions including the World Trade Organization and participated in numerous international seminars and meetings related to investment, trade and regional economic affairs.
DIRECTORATE OF INVESTMENT AND COMPANY ADMINISTRATION
The Directorate of Investment and Company Administration (DICA) plays a key role in Myanmar’s ongoing task of building a market-based economy after decades of centralized planning. DICA is charged with increasing domestic and foreign investment, encouraging private entrepreneurship, and participating in regional and international economic cooperation processes – the country has been a full member of the Association of Southeast Asian Nations (Asean) since 1997 and participates in the Asean Free Trade Agreement (AFTA).
DICA provides both domestic and foreign investors with information about opportunities and data on the country’s economy. It provides information and explanations regarding Myanmar’s new foreign investment law, introduced in November 2012.
The agency also participates in promoting and administering Myanmar’s special economic zones, which the government sees as an important part of its strategy of attracting foreign investment (FDI).
DICA data shows that as of January 2014 Myanmar had received FDI commitments totaling US$45.3 billion, with the power sector representing 42.5% of this amount, oil and gas 31.7%, and manufacturing 8.2%. China placed first with 31.4% of total committed FDI, with Thailand second on 22.1% and Hong Kong third on 14.9%. The United Kingdom placed fifth at 6.9% and the United States 13th with 0.5%.