Local investments reach over Ks 4,888 b in real estate development sector by the end of August 2022

Published 1 October 2022

EMG

Local investments have reached more than 4,888 billion kyat in the real estate development sector as of the end of August 2022, accounting for 21.11 percent of the total citizen investment, according to the Directorate of Investment and Companies Administration.

From the 2016-2017 FY to the end of January 2021, local investments by sector are as per following: more than 3,071 billion kyats in the real estate sector, more than 1,868 billion kyats in other sectors, more than 2,556 billion kyats in the manufacturing sector, more than 1,141 billion kyats in the communication and transportation sector, more than 1,125 billion kyats in the hotel and travel sector, more than 436 billion kyats in the energy sector, more than 324 billion kyats in the industrial zone sector, more than 347 billion kyats in the livestock and fisheries sector, more than 228 billion kyats in the construction sector, more than 75 billion kyats in the mining sector, over 42 billion kyats in the agriculture sector and over 13 billion kyats in the oil and natural gas sector.

During the 2019-2020 FY, 130 new local investment projects were approved, with a total investment amount of more than 1,881 billion kyats, including more than US$ 413 million, according to the Myanmar Investment Commission (MIC).

The MIC has approved a total of 130 new businesses in the 2019-2020 FY with an investment of 1535.075 billion kyats, including an investment amount of US$ 266.873 million, and allowed an additional increase of 346.384 billion kyats, including an investment amount of US$ 146.745 million, for the 30 ongoing businesses. Including the increase of investment, the total investment amount of 1,881.459 billion kyats, including US$ 413.618 million, was approved for business.

Regarding foreign investment, the MIC approved a total of 245 new businesses for the 2019-2020 FY with an investment amount of US$ 4.235 billion, and allowed an additional increase of US$ 1.291 billion for 110 ongoing businesses, bringing the total investment amount including increased investment to US$ 5.526 billion.