Local investments reached over K893 billion from April to August within the current fy, a decreased by K502 billion in comparison with the last fiscal year, according to Myanmar Investment Commission (MIC).
“A total of 73 investments worth over K863 billion were made by the citizens and were allowed from April to August. The additional investment is over K30 billion,” said Deputy Director Than Aung Kyaw of Directorate of Investment and Companies Administration (DICA).
A total of 45 local investments worth over K1,269 billion were approved by the MIC by August in last fiscal year. The additional investment was about 100 billion, sources said.
The MIC allowed a proposed investment and three confirmed investments in MIC’s meeting (13/2018). Sagaing Region Investment Committee approved one local investment and the Ayeyawady Region Investment Committee allowed one local investment. The total investments are went over K22 billion during that period.
The investment can create 350 job opportunities and two out of four investments are in industrial sector. One is in housing sector and the other is in other sector.