MIC approves over Ks3 trillion in domestic investments

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Real estate development sector absorbed most domestic investments, being placed at the top spot on the list of Myanmar Citizens Investment Sector. Photo: Phoe Khwar

Domestic investments, including increased investments, reached Ks3.16 trillion (over US$910 million), as of the third week of December this fiscal year.
Also, the Myanmar Investment Commission has approved investments in 78 enterprises this FY.
These domestic investments will be provided to sectors, such as electric power, real estate development, transport and telecommunication, livestock and fisheries, hotel and tourism, industrial estate development, agriculture and other service sectors.
The real estate development sector absorbed most domestic investments, being placed at the top spot on the list of Myanmar Citizens Investment Sector.
According to the new Myanmar Investment Law, the region and state Directorate of Investment and Companies Administration (DICA) offices are authorised to approve investment proposals having capital of not more than $5 million. Land lease permissions are also given from the regional office. In addition to these, there is tax relief available for investments, depending on the set investment zone.

 

Ko Htet

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