Domestic investments top K1,881 bln, $413.6 mln in previous FY

Domestic investments by Myanmar citizens have reached K1,881 billion and US$413.6 million in the previous financial year 2019-2020 since October, according to the statistics released by the Directorate of Investment and Company Administration (DICA).
Between 1 October and 29 September, Myanmar Investment Commission (MIC) and the respective region and state investment committees gave the green light to 103 local enterprises to invest in various sectors.
Domestic investments have flowed into the real estate, manufacturing, hotels and tourism, construction, industrial estate, energy, mining, livestock and fisheries, agriculture, and other services sectors.
The construction, manufacturing, real estate development, hotels and tourism and agriculture sectors pull the most massive investments made by Myanmar citizens this year.
Although Myanmar’s economy is affected by the COVID-19 impacts, domestic and foreign investments are growing in the current financial year. The existing enterprises are also seen the expansion of capitals and an increase in the labour force, the MIC stated.
The Ministry of Investment and Foreign Economic Relations is inviting responsible businesses so the country benefits. The MIC is screening the investment projects at the soonest according to the COVID-19 Economic Relief Plan. – GNLM (Translated by Ei Myat Mon)

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