By Nyein Nyein
Investments of Myanmar citizens reached over K1,500 billion in ten months of this financial year (FY), an increase of about K300 billion compared to that of the last FY, according to the official statistics of the Directorate of Investment and Company Administration (DICA).
From 1 October to 31 July in 2019-2020FY, about 113 local enterprises were given the green light to make investments in variegated sectors with an estimated capital of over K1,543.4 billion. In the same period of last FY, the domestic investors have pumped K1,260.4 billion into 138 projects.
Although the number of enterprises granted is 25 less compared to that of the previous year, the volume of investments was larger compared to that in the last year as the businesses with large capitals have flowed into the country, according to DICA. In ten months of this FY, the domestic investments have flowed mostly into the industrial sector, followed by the real estate sector, hotels and tourism sector, other services sectors, agriculture, mining, oil and gas, transport and communications, construction, livestock and fisheries and electricity sectors. (Translated by Hay Mar)