11 February
Foreign direct investments flowing into Myanmar between 1 October and 4 February in the current fiscal year exceeded US$1.59 billion, according to the Myanmar Investment Commission (MIC).
During the four-month period, a total of 92 foreign enterprises received permits and endorsements to invest in the country, bringing in a capital of over $1 billion. Overall, foreign direct investments of $1.59 billion flowed into the country in the October-February period, including expansion of capital and investments of over $102 million in the Thilawa Special Economic Zone.
Fourteen foreign enterprises received permits and endorsements for projects with capitals of $60.6 million at the Myanmar Investment Commission meeting held on 4 February. The foreign enterprises were approved and endorsed by the Myanmar Investment Commission and the Yangon Region Investment Committee. They will be engaged in manufacturing, livestock and fisheries, and other service sectors, creating 11,684 jobs. The existing foreign enterprises have also recruited 1,000 new employees. The MIC is targeting to attract $5.8 billion in foreign investments in the 2018-2019 fiscal year.—GNLM
