English
Myanmar permits 6 local, foreign investment projects
YANGON, May 30 (Xinhua) — Myanmar Investment Commission (MIC) on Thursday permitted six investment projects from both home and abroad, according to the Directorate of Investment and Company Administration (DICA).
The commission’s meeting led by Chairman U Thaung Tun approved six projects worth 28.62 million U.S. dollars and 106.4 billion kyats (69.6 million U.S. dollars).
The investments entered the country’s energy, telecommunication service and education service sectors, creating about 659 employment opportunities for the local people.
According to the DICA’s figures, Myanmar attracted over 2.41 billion U.S. dollars’ foreign investments as of April 30, the first seven months of the fiscal year 2018-2019.
During the period, the transport and communication sector topped the list with over 1.16 billion U.S. dollars, followed by the manufacturing with over 668.3 million U.S. dollars.
Singapore registered the largest investor with 20 projects worth over 1.57 billion U.S. dollars.
Regionally, Yangon region attracts 60 percent of both local and foreign investments, followed by Mandalay with 30 percent and the rest flows into other regions and states.
Source: http://www.xinhuanet.com/english/2019-05/30/c_138103070.htm