Myanmar approves 12 local and foreign investment enterprises


  • Myanmar
  • Saturday, 15 Feb 2020

People attending the recent ceremony to mark the 73rd National Union Day in Yangon. 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) on Saturday (Feb 15). - AFP

YANGON: 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) on Saturday (Feb 15).

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$501.9mil and 73.4 billion kyats (US$48.9mil), the permitted enterprises are engaged in the country's manufacturing, other services sectors and hotel sectors, respectively.

As of Dec 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 Dec. 31 of FY 2019-20, the foreign investments in 1,909 permitted projects have reached over US$83bil in the country. - Xinhua/Asian News Network
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