Local investors put Ks 893 billion worth of its investments in 89 businesses within seven months of 2018 – 2019 fiscal year

Local investors put K893 billion worth of investments in 89 businesses and invested more capital in existing investments within seven-month time from October 1 to April 26 in 2018-19 FY, said Thant Zin Lwin, Acting Director General of Directorate of Investment and Companies Administration (DICA).

According to the meeting of Myanmar Investment Commission (MIC), the authorities allowed a local investment in industrial sector in Mandalay Region and the investment amount is Ks1.146 billion including US$0.299 billion. It can create 70 job opportunities for local workers.

Myanmar is expecting to receive about US$6 billion of foreign investment in 2018-19 FY and at the present, over US$2.5 billion worth of foreign investment within seven-month year time, according to the MIC.

In the meeting, the authorities allowed three foreign investments in industrial and transportation sectors: one approved by the MIC and two approved by Mandalay Region Investment Committee. The total investment is US$297 million. It can create 1,851 job opportunities for local workers.

A total of 150 foreign investments worth US$1.682 billion are approved by the MIC from October 1 to April 26 in 2018-19 FY. The total amount is US$2.412 billion including the adding of capital.

According to the special economic zone law, the total investment from October 1 to April 26 is US$134 million in special economic zones. A total of foreign investments worth over US$2.546 billion have entered in this fiscal year.

(Eleven Media Group: https://elevenmyanmar.com/news/local-investors-put-k893-b-worth-of-investments-within-seven-month-time )

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