Myanmar approves 251 foreign investment enterprises in 11 months

YANGON, Sept. 20 (Xinhua) -- The Myanmar Investment Commission (MIC) has approved 251 foreign investment enterprises in first 11 months of current fiscal year (FY) 2018-2019, according to figures released by the Directorate of Investment and Company Administration (DICA) on Friday.


Photo: VCG

From Oct. 1, 2018 to Aug. 31 this year, Myanmar attracted over 3.87 billion U.S. dollars from the permitted enterprises.

During the period, transport and communication sector topped with most investment capital of over 1.53 billion U.S. dollars, followed by manufacturing sector with over 1.24 billion U.S. dollars.

Meanwhile, a total of 1,806 foreign enterprises were permitted with accumulated investment capital of 81.6 billion U.S. dollars from FY 1988-1989 to Aug. 31 of this FY 2018-2019.

Singapore, China and Thailand stood as the three leading investors, and by sectors, the country's oil and gas sector attracted most foreign investments, followed by power and manufacturing sectors, respectively.

Regionally, Yangon region attracts 60 percent of both local and foreign investments, followed by Mandalay region with 30 percent and the rest flows into other regions and states.