Myanmar permits 31 investment enterprises in two months

Source:Xinhua Published: 2017/11/17 13:52:02

Myanmar has recently permitted 31 more investment enterprises, creating over 9,435 job opportunities in October and early November, official Global New Light of Myanmar reported Friday.

The 31 permitted enterprises include 24 foreign-owned ones in the sectors of transportation, communication, electricity and industrial zone sectors, with a foreign investment worth a total of 157 million US dollars.

Investment from other seven local enterprises entered into industry sector, hotel and tourism sector and other service sector with 17 billion kyats (12.5 million US dollars).

In present fiscal year 2017-2018, over 4.5 billion dollars of foreign direct investments had entered the country so far.

Meanwhile, 1.49 trillion kyats (1.09 billion US dollars) of investments from 58 local enterprises were permitted by the Myanmar Investment Commission (MIC) in the same fiscal year 2017-2018.

The country's industry sector takes over 35 percent of the total investment while real estate sector accounts for 24 percent of investment entered into the country.

In last fiscal year 2016-2017, the country attracted over 6.8 billion dollars of foreign investment with the transport and communication sector topping with 3.08 billion dollars.

The country targets over 6 billion dollars of Foreign Direct Investment in fiscal year 2017-2018.

Posted in: ASIA-PACIFIC

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