Myanmar permits US$300 mln foreign investment for infrastructure project

Saturday, 2019-04-27 17:08:37
 Font Size:     |        Print
 

Yangon, Myanmar's commercial capital, is situated near a Japanese-backed special economic zone. (Photo: Nikkei Asian Review)
 Font Size:     |  

Myanmar Investment Commission (MIC) recently permitted over US$290.1 million' foreign investment project in the infrastructure sector, the Directorate of Investment and Company Administration (DICA) said on April 27.

The investment from Singapore was permitted by the commission for port and container yard on the build-operate-transfer (BOT) basis and was expected to create 1,176 employment opportunities for local people.

In first half of the present fiscal year 2018-2019, over US$1.87 billion of foreign investments from 139 projects entered the country while the transport and communication sector topped the list with over US$680 million of investment.

During the period, Singapore was listed as the largest investor with over US$1.1 billion' investments, DICA's figures showed.

Xinhua