In 2017-2018 fiscal year, there is a shutdown of 32 businesses worth Ks826050.434 million across the country, with Yangon Region topping the list, according to the Myanmar Investment Commission’s (MIC) report for 2017-2018 FY.
A total of 32 businesses returned their licenses to the MIC—two in the transportation sector, 12 in the industry sector, eight in the construction sector, three in the hotels and tourism sector, three in livestock and fishery sector, two in housing development sector, one in the service sector and one in the industrial zone development sector.
In Yangon Region, a total of 20 businesses worth Ks 419964.674 million returned their permits to the MIC—11 in the industry sector, three in the hotels and tourism sector, two in the housing development sector, one in the transportation and communication sector, one in the industrial zone construction sector and two in the livestock and fishery sector.
There was a shutdown of 32 businesses in the regions and states—20 in Yangon Region, one each in the industry and hotel sectors in Mandalay Region, three in the construction sector in Kachin State, two in the industrial sector in Sagaing Region, two in the construction sector in Bago Region, one in the construction sector in Rakhine State, one in other service sector in Shan State, one in the livestock and fishery sector in Mon State.
Due to the insufficient power supply, higher transportation costs, a shortage of skilled workers and the difficulties in the availability of land space for long-term investments, there was a hindrance to the inflow of foreign investments in 2017-2018 FY.
Top investors are China, Hong Kong, the Republic of Korea, Japan, Singapore, Thailand, Vietnam and Malaysia, according to the MIC’s report.