Dongfeng Motor Corporation will engage in car assembling in Thilawa Special Economic Zone with a full citizen investment, according to Myanmar Investment Commission. 

MIC approved six new investments worth US$131 million and over Ks113 billion in manufacturing, agriculture, livestock and services sectors as well as extension of capital investment for nine operative businesses. 

The exact amounts of the six new investments are US$131.125 million and Ks113,810.335 million and 2,850 new local jobs will be created. 

Till January this year, the largest foreign investor in Myanmar is Singapore, followed by China and Thailand. 

Fifty countries have invested in Myanmar’s 12 economic sectors with 26.70 percent in oil and gas sector, 26.45 percent in electricity sector and 14.03 percent in manufacturing sector. 

In four months from October 1 to January 24 in the 2019-2020 FY, Myanmar approved foreign investment worth US$2.156 billion including over US$76 million in Thilawa Special Economic Zone. 

A 20-year investment promotion plan is being carried out so that Myanmar becomes a middle-income country by 2030.