MIC’s performances in first two months of 2020

NATIONAL NEWS

The Myanmar Investment Commission (MIC) is permitting local and foreign investments in accordance with the Myanmar Investment Law.
The MIC permitted a total of US$925.684 million worth of foreign investments including increased investments in January 2020, and $545.859 million of foreign investments including increased investments in February.
The following are foreign investments permitted during January and February 2020:

SrSectorJanuaryFebruary
No. of investmentCapital

US$ (million)

No. of investmentCapital

US$ (million)

1.Transportation and communication sector145.000*
2.Industrial sector2794.36921179.487
3.Electricity sector3487.685
4.Housing and building construction sector2161.860*
5.Hotel and tourism sector27.140*11.066
6.Animal husbandry and fishery sector18.950
7.Other service sector10.50045.486
8.Oil and Gas sector352.820*
9Industrial zone construction sector7.000*
Total34925.68426545.859

* Increased investments were included in the total amount.
The MIC permitted a total of K109, 822.947 million worth of local investments including increased investments in January 2020, and K 100,461.071 million worth of local investments including increased investments in February 2020.
The following are local investments permitted during January and February:

SrSectorJanuaryFebruary
No. of  investmentCapital Kyat (million)No. of investmentCapital Kyat (million)
1.Housing and building construction sector14,120.000
2.Industrial sector421,989.890*635,741.624*
3.Hotels and tourism sector562194.757247,985.000
4.Mining sector1800.000
5.Electricity sector1580.000
6.Other service sector321,518.300*410,134.447
Total       13109,822.94714100,461.071

* Increased investments were included in the total amount.
The following are the jobs created in January and February 2020 by the foreign investments:

SrSectorNumber of jobs created for local workers
JanuaryFebruary
1.Animal husbandry and fisheries sector57
2.Industrial sector15,819*20,429*
3.Electricity sector327              –
4.Hotel and tourism sector 24
5.Construction Sector930
6.Housing and building sector569
7.Other service sector           10365
Total17712     20,818

* Increased number of employees was included in the total number.
The following are the jobs created in January and February 2020 by the local investments:

SrSectorNumber of jobs created for local workers
JanuaryFebruary
1.Electricity sector55
2.Mining sector55
3.Industrial sector4531,256
4.Hotel and tourism sector963279
5.Housing and building construction sector70
6.Other service sector364211
Total1,8501,856

MNA
(Translated by Kyaw Zin Tun)

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