Myanmar eyeing investment projects involving masks and pharmaceuticals

Helpers for Buddhist monks wearing face shields and masks amid concerns over the spread of the Covid-19 walk to collect alms in Yangon on April 10, 2020. - AFP

YANGON (Xinhua): The Myanmar Investment Commission (MIC) is planning to accept investment projects in manufacturing masks, pharmaceuticals and others which can contribute to the fight against the Covid-19 in the country, state-run media reported Saturday (April 11).

At present, of the investment proposals, the industry and labour-based businesses are prioritised by the commission over other sectors, Director-General Thant Sin Lwin of the Directorate of Investment and Company Administration was quoted as saying.

Submission of the investment proposals to the commission is not affected, with no decrease in number amid the Covid-19 outbreak, he added.

Meanwhile, Myanmar has attracted over US$2.73 billion of investment capital from 147 foreign enterprises in the first half of present fiscal year 2019-2020.

Of them, the MIC has approved 118 foreign enterprises with investment capital of over US$475.3 million in manufacturing sector during the period.

As of late Friday, Myanmar has reported a total of 28 cases of infectious Covid-19, with three deaths. - Xinhua

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Myanmar , investment , covid-19 , masks


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