By Nyein Nyein
Investments by Myanmar citizens in the country exceeded K1,700 billion in the past 11 months of the current financial year2019-2020, an increase of over K300 billion compared to the corresponding period of the previous FY, according to data released by the Directorate of Investment and Company Administration (DICA). Between 1 October and 28 August in the current FY, 118 local enterprises were allowed to invest in the country by the Myanmar Investment Commission and the state and region investment committees. Domestic investments have reached K1,710 billion so far, including the expansion of capital by existing enterprises, as per the DICA’s data. Domestic investors pumped K1,368 billion into 151 projects in the corresponding period of the 2018-2019 financial year.
This FY, the number of enterprises permitted was 33 less than the previous year. However, the quantum of investment was more extensive compared with the year-ago period as the business with large capital flowed into the country, the DICA stated. During the 11 months, the real estate development sector pulled the most massive domestic investments, followed by manufacturing and other service sectors. The domestic investments also flow into hotels and tourism, agriculture, oil and gas, transportation and communication, construction, livestock and fisheries, mining, and power sectors. In contrast, industrial estate out of 12 domestic investment sectors attract zero investment in the current FY, the DICA stated. (Translated by Ei Myat Mon)
By Nyein Nyein