Employees work at a garment factory in Hlaingthaya, Yangon. File photo: Phoe Khwar
The Directorate of Investment and Company Administration (DICA) has permitted 25 local and foreign investments in Myanmar during this month it is learnt.
The permitted investments include some in the agricultural and garment sector under the cut-make-pack (CMP) system. The garment industry was the most represented sector, with seven enterprises under the CMP system.
There were three enterprises in the agricultural sector, including producing and selling coffee seeds and other crops in joint ventures with foreign investment.
“We will give priority to local and foreign investments which can create job opportunities for the local people”, said an official from the DICA.
To stimulate investments in other industrial sectors other than the garment industry, DICA is discussing future processes together with state and regional governments.
Currently, DICA has permitted 25 local and foreign investments including garment, agricultural, motorbike manufacturing, construction and telecommunications, according to an official from DICA.— Min Min