Myanmar approves 12 local and foreign investment enterprises

Saturday, 2020-02-15 18:34:49
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Myanmar Investment Commission (MIC) recently approved 12 investment enterprises from home and abroad, said a release from the Directorate of Investment and Company Administration (DICA) late Friday.

The enterprises, which will create over 6,600 job opportunities for Myanmar citizens, were permitted at the commission's recent meeting.

With investment capital of US$501.9 million and MMK73.4 billion (US$48.9 million), the permitted enterprises are engaged in the country's manufacturing, other services sectors and hotel sectors, respectively.

As of December 31, 2019, Singapore, China and Thailand were the leading investors in Myanmar. Meanwhile, oil and gas, power and manufacturing sectors were the top three sectors in the list with most foreign investments.

From FY 1988-89 to December 31 of FY 2019-20, the foreign investments in 1,909 permitted projects have reached over US$83 billion in the country.

Xinhua