BUSINESS Myanmar approves six more local, foreign investment enterprises

BUSINESS

Myanmar approves six more local, foreign investment enterprises

Xinhua

14:18, January 11, 2020

Yangon.jpg

File photo: Xinhua

YANGON, Jan. 11 (Xinhua) -- Myanmar Investment Commission (MIC) recently approved six more investment enterprises from both home and abroad, said a release from the Directorate of Investment and Company Administration (DICA) on Saturday.

The enterprises, which will create over 1,300 local employment opportunities, were given the go-ahead at the commission's meeting held on Friday.

With investment capital of 257.8 million U.S. dollars and 60.2 billion kyats (40.1 million U.S. dollars), the permitted enterprises engaged in the country's power, manufacturing, hotel and other services sectors, respectively.

Meanwhile, the commission approved 39 foreign enterprises with investment capital of over 1 billion U.S. dollars in first two months of present fiscal year 2019-2020 which started in October, the DICA's figures said.

Normally, Singapore, China and Thailand are top leading investors in Myanmar.

Sectorally, 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. 

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