Myanmar attracts over US$90mil investment from foreign firms


  • Myanmar
  • Saturday, 14 Mar 2020

Locals buying goods at a busy supermarket in central Yangon on Saturday (March 14). Myanmar Investment Commission (MIC) recently approved and endorsed 25 foreign enterprises, attracting US$91.46mil of investment capital, state-run media reported on Saturday. - AFP

YANGON: Myanmar Investment Commission (MIC) recently approved and endorsed 25 foreign enterprises, attracting US$91.46mil of investment capital, state-run media reported on Saturday (March 14).

The commission gave the green light to four foreign enterprises to operate in the country while 21 others were endorsed, creating 14,000 local employments.

The investments from the enterprises entered hotel, livestock and fisheries, manufacturing and other services sectors, respectively.

Meanwhile, the MIC also nodded two local enterprises and seven other domestic ones were endorsed by the regional investment committees, with investment capital of 69.7 billion kyats (US$49.7mil) and 19.34 million kyats (US$13,814).

Creating 2,700 local employments, investments from the domestic enterprises entered the country's manufacturing, hotel, agriculture, and other services sectors, the report said.

Regionally, Yangon region attracts 60% of investments from both home and abroad, followed by Mandalay with 30% and the rest flows into other regions and states. - Xinhua/Asian News Network
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Myanmar , Foreign Capital , Rising

   

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