Yangon Region attracts the most domestic investments this Fiscal Year

Myanmar Investment Commission (MIC) has granted approval to 53 local enterprises in 12 regions and states as of September in current Fiscal Year and Yangon Region attains the most domestic investments, according to Myanmar Investment Commission.
Twenty four enterprises of 53 will invest in Yangon Region while Mandalay Region attracted 8 local enterprises. Six domestic projects flow into Magway Region while 4 enterprises with domestic investment enter Bago Region. Taninthayi and Ayeyawady regions attracted two enterprises each. MIC has permitted two enterprises in Mon State, one each in Kachin, Rakhine and Shan states and two in Nay Pyi Taw.
Those domestic investments are engaged in electric power, real estate development, transportation and telecommunication, livestock and fisheries, hotel and tourism, industrial estate development, agriculture and other service sectors.
Since FY 1988-1989, domestic investments have reached Ks14.6 trillion so far with real estate development sector at the top of the list, according to Myanmar Investment Commission (MIC).
Meanwhile, Kachin, Kayah, Chin and Rakhine states and Magway Region failed to attract foreign investments in first half of this Fiscal Year.
In an attempt to attract investments into far-flung areas, MIC set three different zones in which the entrepreneurs will enjoy the benefits of tax exemption and relaxation from three to seven years. —Mon Mon

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