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Bago Region attracts over $117.6 mln FDI, K9.5 bln domestic investment over one year

22

The meeting of the Bago Region Investment Committee in progress on 2 May 2022.

Between 1 February 2021 and April 2022, Bago Region pulled foreign investments of US$117.612 million and K9.529 billion of domestic investments made by Myanmar citizens, which created over 6,000 job opportunities for residents, according to the Bago Region Investment Committee (BRIC).
At the BRIC’s meeting held on 2 May, Bago Region Chief Minister U Myo Swe Win said that Bago Region mainly depends on agriculture and livestock. As the region has abundant raw materials to produce natural fertilizer, the chief minister urged BRIC to invite investment in fertilizer plants. Next, energy infrastructure is essential in manufacturing industries and urban development. Then, the committee has to call for investors for hydropower and solar power projects as Bago Region relies on reservoirs, dams and river sources. Afterwards, he coordinated not to have vacant plots of land in the industrial zone. He instructed officials concerned to ensure the facilitation of the work process for the lease of the industrial estate.
The Bago Region Directorate of Investment and Company Administration’s director explained matters concerning rice milling, processing and exports, importing raw materials and making finished products, and unboxing the investment facilitation toolkit 2022. The committee members also discussed investment-related matters, and finally, the Bago Region Chief Minister guided the committee to process under the existing law, rules and regulations. — MNA

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