Myanmar attracts K9,812-bln domestic investments under incumbent government

LOCAL NEWS

The domestic investments of over K9,812.6 billion made by Myanmar citizens have brought into the country over four years of the incumbent government, according to the Directorate of Investment and Company Administration (DICA). A total of 558 domestic enterprises put investments of K9,812.6 billion into Myanmar between 2016-2017 financial year and 2019-2020FY (as of July-end).
Those domestic investments permitted by Myanmar Investment Commission (MIC) and endorsed by the respective region and state investment committees 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. Although Myanmar’s economy is affected by the coronavirus impacts, domestic and foreign investments are growing in the current financial year. The existing enterprises have 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 Economic Relief Plan. —GNLM (Translated by Ei Myat Mon)

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