Local and foreign investments created job opportunities for 47,631 workers from April to July, 2018, according to Directorate of Investment and Companies Administration (DICA).
The Myanmar Investment Commission (MIC) permitted 65 Myanmar citizen investments within four months. A total of 13,788 workers, including 13,685 local workers and 103 foreign workers were employed in those 65 local investment sectors.
Also, a total of 30,729 workers, including 29,978 local workers and 751 foreign workers were employed in 53 foreign investments. Moreover, existing foreign investment enterprises increased its labour force and a total of 3,105 workers were employed.
A combined team comprising of officials from Ministry of Labour, Immigration and Population, investment sectors related ministries and MIC conducted assessment activities in advance before investment approval is provided. Then, MIC scrutinizes the workers’ positions with the workers’ skill certificate after MIC has issued the permit, said U Min Saw Oo, Director of DICA.
“MIC supervises the labour appointment sector before and after permission. MIC also checks the certificate of some manager position. But, MIC could not check whether those certificates were real or fake one,” he added.
According to Myanmar Investment Law Chapter-13, Section-51, the investor may appoint any (foreign or local) citizen who is qualified as senior manager, technical and operations expert, or advisor in his investment within the Union.
The investor is also required to provide capacity building programs to (local) citizens in order to replace appointed (foreign) citizens in management positions, technical and operation expert and advisors and must appoint only (local) citizens for works that does not require skill.
MIC gave the green light to 65 Myanmar citizen investments worth over Ks 783 billion and 53 foreign direct investment worth over US$442 million within four months. Therefore, FDI flowing into the country, including increased investment and Thilawa Economic Zone in four months amounted to over US$1 billion.
By May Thet Hnin