Mandalay Region draws totaling USD $ 4 billion in foreign direct investment (FDI)

The Mandalay Region Investment Committee has endorsed 79 foreign projects from more than 16 countries since its establishment up until December, 2019, drawing almost US$4 billion in foreign direct investments (FDI), U Thant Sin Lwin, Director-General of the Directorate of Investment and Company Administration (DICA) told state media.

The investments flowed mostly into manufacturing, power, and services sectors.

Meanwhile, a total of 179 domestic projects were endorsed, drawing some K5.3 trillion into infrastructure, manufacturing and services.

The rise in investments was partly as a result of the Myanmar Investment Commission giving permission to region and state authorities to promote business and endorse investment projects valued below US$5 million under the 2017 Myanmar Investment Law.

Currently, Yangon Region absorbs 60 percent of all investments in Myanmar, while Mandalay attracts about a third of the investments, DICA data showed.

(The Myanmar Times: https://www.mmtimes.com/news/mandalay-draws-fdi-totalling-us4-billion.html )

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