Domestic, foreign enterprises in current FY create about 200,000 jobs

The domestic and foreign enterprises permitted and endorsed by the Myanmar Investment Commission (MIC) and other regional and state investment committees created about 200,000 jobs in the past 11 months of the 2019-2020 financial year, according to the Directorate of Investment and Company Administration (DICA).
During the October-August period, the foreign enterprises created over 176,000 jobs for locals, adding the recruitment of the existing foreign enterprises, as per data from the DICA.
Additionally, the domestic enterprises under the Myanmar Investment Commission created over 21,000 jobs for local people in the past 11 months, including the increase in employment by the existing enterprises.
Moreover, the domestic and foreign businesses employed about 5,000 expatriate workers in Myanmar.
Between 1 October and 28 August, MIC and the relevant investment committees gave the go-ahead to 228 foreign enterprises. They brought in estimated capital of US$5.08 billion, including the expansion of money by existing enterprises. With the inclusion of $142.297 million in investments in the special economic zones under the Special Economic Zone Law, the FDI totalled $5.16 billion.
A total of 118 domestic investments were given the green light in the past 11 months. Domestic investments by Myanmar citizens, including the expansion of capital by existing enterprises, reached K1,710 billion as of 28 August in the current financial year, according to a press release issued by the MIC.(Translated by Ei Myat Mon)

Share this post

Comments

Hot News
Hot News