Ministry of Planning and Finance

Background

1.          Before 1972, Ministry of Planning and Finance had been organized as Ministry of National Planning and Ministry of Finance and Revenue separately.

2.          Ministry of National Planning was formed after independence for the rehabilitation of Myanma Economy. Main role of Ministry was to draw plans in each field that relating to country’s socio-economic. The Ministry of National Planning was first founded in associating with Ministry of Industry, Ministry of Religious and Culture, and Ministry of Defense.

3.          Before 1972, Ministry of National Planning was established with (5) departments/organizations. Main functions of Ministry of National Planning were analyzing State’s economical contracts and agreements, negotiating plans with other Ministries and coordinating with foreign countries for incorporation of economy, aids, assistance and United Nation’s aid and experts.

4.          Ministry of Finance and Revenue was established with (17) departments/ enterprises/organizations including Union Minister’s Office and Account Offices (Audit) to develop Myanma Monetary System and Economy prior to 1972.

5.          Ministry of National Planning and Ministry of Finance and Revenue combined as a Ministry of Planning and Finance in accordance with implementing new administrative system in Myanmar in 1972, Revolutionary Council period. There were (15) departments/enterprises/ organizations under the Ministry of Planning and Finance.

6.          In 1993, Ministry of Planning and Finance had been divided into two ministries namely, Ministry of National Planning and Economics Development and Ministry of Finance and Revenue. There were (7) departments/ organizations under the Ministry of National Planning and Economics Development and (12) departments/ enterprises/ organizations under the Ministry of Finance and Revenue.

7.          In 2013, Ministry of Finance and Revenue had changed its namely into Ministry of Finance. Central Bank of Myanmar had been formed separately from Ministry of Finance. In new Organization structure, there were (13) departments/organizations/ enterprises in Ministry of Finance.

8.          In 2016, government desired to combine ministries which functions are related to each other. Therefore, Ministry of National Planning and Economic Development and Ministry of Finance had been combined again as a Ministry of Planning and Finance. Thus, there were (20) departments/ organizations/ enterprises in the Ministry of Planning and Finance.

9.          On December 28, 2018, Foreign Economic Relations Department (FERD) and Directorate of Investment and Company Administration (DICA) of the Ministry of Planning and Finance were moved to the Ministry of Investment and Foreign Economic Relations. Thus, there were (18) departments/ organizations/ enterprises in the Ministry of Planning and Finance.

10.        On November 29, 2019, Ministry of Planning and Finance and Ministry of Industry were combined as Ministry of Planning, Finance and Industry. So, there were (25) departments/ organizations/ enterprises including Minister’s Office in the Ministry of Planning, Finance and Industry.

11.        In addition, on July 21, 2020, Revenue Appellate Tribunal of the Ministry of Planning, Finance and Industry were moved to Ministry of the Union Government Office. So, there were (24) departments/ organizations/ enterprises including Minister’s Office in the Ministry of Planning, Finance and Industry.

12.        All in all, on May 3, 2021, State Administration Council was reformed the two Ministries as a separated namely as the Ministry of Planning and Finance and Ministry of Industry. As a result, there were (18) departments/ organizations/ enterprises including Minister’s Office in the Ministry of Planning and Finance.

Organization

There are (18) departments/organizations/enterprises in Ministry of Planning and Finance. These are as follows:

1.          Union Minister’s Office

2.          Central Equipment Statistics and Inspection Department

3.          Planning Department

4.          National Archives Department

5.          Project Appraisal and Progress Reporting Department

6.          Central Statistical Organization

7.          Myanma Economic Bank

8.          Myanma Foreign Trade Bank

9.          Myanma Investment and Commercial Bank

10.        Myanma Agriculture Development Bank

11.        Myanma Insurance

12.        Budget Department

13.        Treasury Department

14.        Internal Revenue Department

15.        Customs Department

16.        Financial Regulatory Department

17.        Pension Department

18.        Securities and Exchange Commission of Myanmar