Myanmar attracts domestic investments of over K10,000 bln under incumbent government

The domestic investments of over K10,000 billion made by Myanmar citizens have brought into Myanmar over the four-and-half years of the incumbent government, according to the Directorate of Investment and Company Administration (DICA).
A total of 575 domestic enterprises put investments of K10,150 billion into the country between the financial year 2016-2017 and the 2019-2020FY.
The domestic investments stood at K1,604 billion from 52 enterprises in the FY2016-2017, K3,978 billion from 119 enterprises in the FY2017-2018, K995 billion from 105 businesses in the 2018 mini-budget year (April-September), K1,691 billion from 169 enterprises in the FY2018-2019, and K1,881 billion from 130 projects in the FY2019-2020 respectively, the DICA’s data showed.
Those domestic investments permitted by Myanmar Investment Commission (MIC) and endorsed by the respective region and state investment committees can flow into the following 12 sectors: oil and gas, power, transport and communications, real estate, hotels and tourism, mining, livestock and fisheries, industrial estate, agriculture, construction, manufacturing and other service sectors.
Of them, the real estate development sector has pulled the most massive domestic investments, followed by other service sectors in the second place and manufacturing sector in the third place. The construction sector, however, did not pull domestic investments in the past four and a half years, the DICA stated.
The MIC is screening the investment projects at the soonest according to the COVID Economic Relief Plan, prioritizing the labour-based businesses.
(Translated by Ei Myat Mon)

Share this post

Comments

Hot News
Hot News