Bago Region pulls over $110 mln foreign investment, K8.3 bln domestic investment in one year

Between 1 February 2021 and 1 February 2022, Bago Region attracted foreign investments of US$110.8 million and K8.329 billion of domestic investments made by Myanmar citizens, which creates 4,953 job opportunities for residents, according to the Bago Region Investment Committee (BRIC).
At the BRIC’s meeting held on 25 February, Bago Region Chief Minister U Myo Swe Win delivered a remark that Bago Region is mainly depending on agriculture and livestock. As the region has an abundant source of raw materials to produce natural fertilizer, the chief minister urged BRIC to invite investment for fertilizer plants. Furthermore, the labour-intensive garment businesses on a Cutting, Making and Packing basis are also prioritized as the regions have a strong workforce. The endorsements are granted only after conducting the social and environmental impact assessments. The investors are mandatory to strictly adhere to the rules and regulations of the Industrial Zone Law. Starting from the coming monsoon season, the shade trees will be grown. The chief minister directed the officials concerned not to have illegal squatting in the zone as well.
Afterwards, BRIC Director U Ko Ko Lat explained capital expansion and extension of time in construction matters. The committee members also discussed investment-related matters and Bago Region Chief Minister guided the committee to process under the existing law, rules and regulations. — Tin Soe (Bago)/GNLM