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Myanmar approves investment enterprises with nearly 5,000 local jobs

Finance Materials 30 September 2020 04:11 (UTC +04:00)
Myanmar approves investment enterprises with nearly 5,000 local jobs

The Myanmar Investment Commission on Tuesday approved seven investment enterprises which can create 4,915 employment opportunities for locals, according to the Directorate of Investment and Company Administration (DICA), Trend reports citing Xinhua.

The investment capital of 347.85 million U.S. dollars and 23.4 billion kyats (17.89 million U.S. dollars) from the enterprises entered the country's manufacturing, real estate, hotel and tourism, and service sectors, respectively.

According to the DICA's latest figures, Myanmar has attracted over 5 billion U.S. dollars in investment from 228 permitted foreign enterprises as of Aug. 31 in present 2019-20 fiscal year which will end on Sept. 30.

During the period, power, oil and gas, and manufacturing sectors attracted the most foreign investment.

Singapore, China and Thailand are largest investors in Myanmar, the DICA's figures showed.

Regionally, Yangon region absorbs 60 percent of the country's investment from both home and abroad, followed by Mandalay region with 30 percent and the rest flows into other regions and states.

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