9 more investment enterprises permitted in Myanmar

9 more investment enterprises permitted in Myanmar

Image result for InvestmentMyanmar Investment Commission (MIC) has recently permitted nine more investment enterprises from home and abroad, according to a release from the Directorate of Investment Company Administration (DICA).

The permitted enterprises included foreign enterprises with 101.172 million U.S. dollars’ investment capital and local enterprises with a capital of 110.7 billion kyats (73.8 million U.S. dollars). The investments entered the country’s manufacturing, livestock and fisheries, hotel and real estate sectors, creating 3,029 local employment opportunities.

From the fiscal year 1988-1989 to June 30 of the current fiscal year 2018-2019, a total of 1,752 enterprises were permitted with 80.89 billion U.S. dollars so far, according to the DICA’s data. During the period, the oil and gas sector attracted 27.72 percent of total investments, followed by power sector with 26.18 percent and the manufacturing sector with 13.82 percent, respectively.

Oil and gas, power and manufacturing sectors are in the top-three list with most foreign investments during the period. Regionally, the Yangon region attracted 60 percent of investments from both home and abroad, followed by Mandalay with 30 percent and the rest flowed into other regions and states.

Source: Xinhua 

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