Myanmar Investment Commission (MIC) approved more than USD $ 500 million worth of Foreign Direct Investment (FDI)

The Myanmar Investment Commission has approved more than US$500 million worth of foreign direct investments (FDI) from 11 businesses and K50 billion in local investments on April 3, a day after the total number of COVID-19 positive cases in the country climbed to 20.

The approved amount of $555.233 million and K 51.040 billion includes investments into sectors such as industry, construction and services, in addition to the expansion of 13 existing businesses.

After the businesses are in operation, a total of 3234 jobs could be created for Myanmar.

As at the end of March, Singapore, China and Thailand topped the list of permitted FDI in Myanmar.

A total of 51 countries have invested in 12 economic sectors and oil and gas sector tops among them with 27 percent, followed by electricity with 26.3pc and manufacturing with 14.2pc. - Translated

(The Myanmar Times: https://www.mmtimes.com/news/mic-approves-more-550-million-fdi.html )

​