Myanmar Investment Commission permitted eight types of businesses including oil and natural gas, said a source from Myanmar Investment Commission (MIC). The eight types of businesses permitted by the MIC include livestock and fisheries, production, hotel, real estate, oil and natural gas and transport and communications.
These businesses will provide local people more than 3,000 job opportunites. Singapore stands at the top of the foreign investment chart now,” said an official of the MIC. These businesses invested with US$ 36. 745 million and Ks 163,302.753 million entered the country and that would provide 3,159 job employments to local people.
A total of 1,806 businesses from 50 countries have invested in Myanmar until August this year. The investment of oil and natural gas accounted for 27.48 % of the total foreign investment, followed by electricity sector with 25.95 % and production sector with 14.01%.
From October 1 to September 5 of 2018-2019 FY, foreign investment volume reached US$ 4,100.032 million, according to the MIC.
It is expected that foreign investment volume would flow up to US$ 5,800 million in 2018-2019 FY. Foreign investment volume has so far reached more than US$ 4,100 million 25 days to meet the end the current fiscal year.
Translated and Edited by Win Htut
