By Nyein Nyein
Investments by Myanmar citizens in the country exceeded K1,200 billion in the past eight months of the current fiscal year 2019-2020, an increase of over K200 billion compared to the corresponding period of the previous FY, the DICA’s data indicated.
Between 1 October and 31 May in the current fiscal, 79 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 K1,297 billion so far, including the expansion of capital by existing enterprises, as per the DICA’s data.
Domestic investors pumped K1,041 billion into 108 projects in the October-November period in the 2018-2019 financial year. This fiscal year, the number of enterprises permitted was 29 less than the previous year. However, the quantum of investment was larger compared with the year-ago period as the business with large capital flowed into the country, the DICA stated.
During Oct-May period, hotels and tourism sector pulled the largest investment, followed by manufacturing and other service sectors. The domestic investments also flow into real estate development, transportation and communication, livestock and fisheries, industrial estate, mining and power sectors. (Translated by Ei Myat Mon)