Myanmar approves 8 more local, foreign investment enterprises

Description: 

"The Myanmar Investment Commission (MIC) recently approved eight more investment enterprises from home and abroad, according to a release from the Directorate of Investment and Company Administration (DICA) on Tuesday. At the meeting held on Monday, the commission gave the green light to local and foreign enterprises with investment capital of 279.88 million U.S. dollars and 156.9 billion kyats (104.6 million U.S. dollars) respectively. The permitted investments are set to flow into the country's real estate, education service, agriculture and manufacturing sectors, creating 33,279 local employment opportunities, the DICA's release said. From fiscal year (FY) 1988-1989 to FY 2018-2019 which ended in September, Myanmar attracted more than 81.8 billion U.S. dollars of investment from 1,837 foreign enterprises. During the period, Singapore, China and Thailand are the three leading investors, and by sector, oil and gas sector attracted most foreign investments, followed by power and manufacturing sectors..."

Creator/author: 

Xiaoxia

Source/publisher: 

"Xinhua" (China)

Date of Publication: 

2019-10-22

Date of entry: 

2019-11-16

Grouping: 

  • Individual Documents

Category: 

Countries: 

Myanmar

Geographic coverage: 

Global

Language: 

English

Resource Type: 

text

Text quality: 

    • Good