May
3, 2017
The Myanmar
Investment Commission (MIC) permitted 20 more enterprises under the Foreign
Investment Law and the Myanmar Citizens Investment Law in the current Fiscal
Year 2017-2018,
creating 3,424 job opportunities, it was learnt at the MIC
meeting held on Tuesday.
There are 11
Myanmar citizens enterprises, seven joint ventures and two foreign-owned
enterprises in various fields including: manufacturing and marketing;
international port service; a medical clinic; electricity generation; real
estate, hotel services, network facilities service and a forest reserve,
according to an announcement of the Directorate of Investment and Company
Administration (DICA). Over US$160million of investments were permitted to put
into Myanmar and a total of 9,478 job opportunities were created from the 17
permitted enterprises, according to the very first Myanmar Investment
Commission meeting held on 5th April in the current FY.
The FDI flowing
into the country in the previous FY 2016-2017 hit over US$6.8billion, which
exceeded the expectation of US$6billion, mostly into industrial manufacturing
and transport and communication sectors. The foreign investments enter these
sectors; oil and gas, power, transport and communication, manufacturing, real
estate, mining, hotel and tourism, livestock and fisheries, agriculture,
industrial estate, construction and other services, according to DICA. Foreign
direct investment (FDI) of over US$6billion is likely to flow into the country
this Fiscal Year 2017-2018, according to the DICA.
Ko Htet
Ref;
The Global New Light of Myanmar
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