Mandalay Region tops list of citizen investments

Writer: 
Soe Min Htike, Sithu

 

Mandalay Region topped the list of citizen investments with Ks 2,074 billion in 2017-2018 fiscal year, said Thaung Tun, chair of Myanmar Investment Commission (MIC)

At the session of Union parliament in Nay Pyi Taw on August 30, MIC chair Thaung Tun said submitted the MIC’s report from April 1 to March 31, 2017.

“In 2017-2018 FY, Mandalay Region led the list of citizen investments with Ks 2,074 billion, followed by Yangon region with Ks-851 billion and Bagon region with Ks 319 billion, he said.

In 2017-2018 FY, the construction sector stood first with Ks-1,506 billion, the transport and communications, second, with Ks-544 billion and other service sector, third, with Ks-497 billion.

The number of foreign countries and businesses which invested in the country in 2017-2018 FY, exceeded that of the amount in 2016-2017 FY. But the total foreign investments dropped by around US$ 900 million in 2017-2018 FY. The MIC allowed permits to 222 businesses from nine foreign investment sectors, worth US$ 4.778 billion in 2017-2018 FY. In addition, the MIC allowed additional investments of US$ 0.94 billion in 82 existing businesses. The total FDI amounted to US$ 5.718 billion.

Industry sector topped the list of FDI, with 30.94 per cent of the total FDI, followed by housing and building industries with 22.07 per cent and other service sector with 17.58 per cent.

According the quarterly reports presented by companies, the actual FDI reached US$ 4.341 billion.