THE ceremony to mark rights to the patent application was held at the Ministry of Commerce in Nay Pyi Taw yesterday. Speaking at the event, Union Minister for Commerce U Tun Ohn, who is also vice-chair of the Central Committee on Intellectual Property, said the intellectual property issue plays a critical role as the global market is applied while technologies are growing at a breakneck pace in the world. The protection system for intellectual property can promote innovation and competition and support sustainable economic development.

The Trademark Law, the Industrial Design Law and the Copyright Law came into effect in 2023 in the country, and the government processes the applications for rights. The Patent Law came into effect on 31 May 2024, and the applications were accepted officially on 31 October, so these four laws were successfully operated. He then mentioned benefits, including transfer of technology, promotion of innovation, increase in direct foreign investment, job opportunities, surge in revenue and manufacturing development.

The meeting was attended by the directors-general, the deputy permanent secretary, the deputy directors-general of the ministry and central committee members in person, and other officials of UMFCCI and relevant departments joined virtually.

MNA/KTZH

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