Yangon region investment committee allowed over US$37 million and Ks3.493 billion worth of investments which can create more than 2,500 job opportunities in the region, according to the committee.
The committee approved them during its meeting held at Yangon Region government office on December 24.
The committee approved 14 foreign investments from five countries and two local investments in the region. It can create job opportunities for more than 14,000 people. The increase of foreign investment in industrial sector is over US$5 million.
Foreign investment is reached to about US$466 million from October 1 till at the end of November in this fiscal year and transportation sector topped the list of foreign investment with US$171 million followed by production sector with US$100 million.
Singapore topped the list of foreign investors with US$357 million followed by China with US$54 million, according to Directorate of Investment and Companies Administration (DICA).
They are followed by Thailand with US$12 million, Vietnam with US$10 million, Hong Kong with US$7 million, Taiwan with US$6 million and Japan with US$5 million respectively.
Myanmar is facing other challenges to promote investment and the halted purchasing power parity over the world is affecting serious consequences on exports and foreign direct investments which is targeting for export products, according to Myanmar Investment Promotion Plan (MIPP).
