Bago Region attracts substantial foreign investments, approves additional funding for industrial business

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File photo shows a factory in Bago Region. Bago Region received a foreign investment project worth $1.622 million in November 2023.

In November 2023, Bago Region received a foreign investment project worth $1.622 million, as stated by U Ko Ko Latt, the Director of the Bago Region Directorate of Investment and Company Administration.
“Bago Region Investment Committee allowed a foreign investment valued at $1.622 million in November. Additionally, the committee approved the currently-operating foreign business to add $7 million to its original investment at meeting No. 7/2023,” said U Ko Ko Latt.
Furthermore, regional authorities are eager to invite external investors to invest businesses related to manufacturing agricultural machinery and equipment, producing fertilizers, and establishing cold storage facilities to promote the development of multi-functional agriculture and the manufacturing of farming products. Relevant departments will provide necessary assistance in line with the law.
There were $197.117 million worth of foreign investments and K 75,456.275 million in domestic investments in Bago Region between February 2021 and November 2023, consequently generating job opportunities for more than 11,281 labourers. — ASH/TMT

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