Myanmar approves 5 more investment enterprises with total capital of 132.8 mln USD

October 30, 2020

Myanmar Investment Commission (MIC) recently approved five more investment enterprises in the country, local media quoted the Directorate of Investment and Company Administration (DICA) as saying on Thursday.

The commission approved operation of new enterprises and increasing investment capital amount by the existing enterprises.

The investment capital of 105.8 million U.S. dollars and 35.6 billion kyats (27 million U.S. dollars) from the permitted enterprises was engaged in the country's livestock and fishery, manufacturing, real estate, oil and gas and other services sectors, creating 688 job opportunities for local citizens.

According to the DICA's latest figures, Myanmar has attracted over 5.5 billion U.S. dollars of investment from 245 permitted foreign enterprises in the fiscal year 2019-2020 which ended on Sept. 30.

During the period, power, oil and gas and manufacturing were the top three sectors attracting most foreign investments.

In the fiscal year, the countries with largest investors in Myanmar were Singapore, China and Thailand, 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.