Workers collect fish at Nyaung Tan Jetty in Yangon.
Photo: GNLM/Phoe Khwar
The Myanmar Investment Commission (MIC) permitted 66 foreign investment and 24 Myanmar citizen investment projects as of mid June in the current fiscal year, according to Wednesday’s edition of the Myawady newspaper.
More than US$1.96 billion of foreign direct investment (FDI) has been attained so far from the 66 permitted foreign projects. Additionally, Thilawa Special Economic Zone attained over $120 million of FDI so far this FY. Therefore, the FDI flowing into the country in nearly three months of this FY amounted to over US$2 billion.
From 1 April to mid-June this fiscal year, 24 Myanmar citizen businesses invested Ks501 billion including over US$244milion, according to the MIC. According to the MIC meeting held on 16 June, 26 enterprises including 22 foreign enterprises and four Myanmar citizen enterprises were permitted, creating over 9,100 job opportunities. Those 22 foreign enterprises are engaged in manufacturing business, livestock and fisheries, transportation and telecommunications, real estate development sector and other services while Myanmar citizen investments will enter the industrial and hotel and tourism sectors.
Htet Myat