FDI hits over 14 m USD in Yangon

FDI hits over 14 m USD in Yangon
Published 2 October 2019

 

Yangon Region Investment Committee has allowed foreign investments worth over 14.47 million US dollars and citizen investments worth over Ks2,440 million. 

At the meeting-16/2019, the region investment committee  approved 11 foreign investments and two citizen investments in accordance with Myanmar Investment Law.

The new investments will create 6,064 jobs for locals. The investment promotion in the industry sector amounted to 0.9 million US dollars and will create 1,073 jobs for locals. 

At the meeting-15/2019 on September 13, the region investment committee allowed foreign investments worth 6.956 million US dollars and two citizen investments worth Ks380 million. These investments creates 2,749 jobs for citizens.

Myo Khaing Oo, Director of Directorate of Investment and Company Administration said: “From October 1 to August 28 of 2018-2019 fiscal year, the Yangon Region Investment Committee allowed 142 investments worth 239.304 million US dollars.”

China has topped the list of foreign investments with 85 businesses, according to the region investment committee.