Chin State pulls 3 domestic investments

Elephant Foot Yam copy
Workers prepare elephant foot yam to dry at a factory in Kanpetlet township, Chin State. Photo: MNA

By Nyein Nyein

Chin State drew three domestic investments over the four years of the incumbent government, despite zero foreign direct investments in the state according to the Directorate of Investment and Company Administration (DICA). Those businesses brought into the capital of K3.368 billion. Chin State stands at the bottom in attracting domestic investments. Over the past four years, Yangon Region stood at the first place attracting 178 domestic investment businesses made by Myanmar Citizens, followed by Mandalay Region with 68 projects at the second place and Ayeyawady and Sagaing regions, with 45 each at the third place respectively.

Additionally, domestic investments also flow into Taninthayi Region from 36 projects, Mon State from 28, Shan State from 25, Magway Region from 22, Kayah State from 16, Kayin State and Bago Region each from 15, Rakhine State from 11, Nay Pyi Taw from nine and Kachin from eight, the DICA stated.

A total of 524 domestic enterprises put investments of K9,566 billion into the country between 2016-2017 fiscal year and 2019-2020FY (as of May-end).

Those domestic investments permitted by Myanmar Investment Commission (MIC) and endorsed by the respective region and state investment committees flow into the following 12 sectors; oil and gas, power, transport and communication, real estate development, hotels and tourism, mining, livestock and fisheries, industrial estate development, agriculture, construction, manufacture and other service sectors. Of them, the real estate development sector has pulled the largest domestic investments, followed by other service sectors in the second place and manufacturing sector in the third place. MIC has been prioritizing labour-intensive enterprises among proposals. (Translated by Ei Myat Mon)

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