Foreign investment to grow in Myanmar

Myanmar’s Directorate of Investment and Company Administration has granted 10 more foreign investors to trade in Myanmar.

The announcement on June 21 includes six “Foreign Direct Investment” organisations, including the United States-based Colgate-Palmolive conglomerate and four garment manufacturers: Fu Yuen Garment Company from Macau, Eslite Garment Company and Polar North Garment Company from Taiwan, and the outdoor apparel manufacturer Eusebio Sporting (Myanmar) Company, also from Taiwan.

DICA’s website said the final company approved for direct foreign investment was awarded to Maxpower (Thaketa) Company, which plans to build a natural gas power plant.

The remaining four businesses listed are partnerships between local and international firms. They represent foreign investment in the construction and energy sectors by the Singaporean HSL Group and Puma Energy, respectively.

Dutch brewing giant Heineken’s Singaporean subsidiary Asia Pacific Breweries will sell alcoholic beverages and the British Virgin Island registered Capeview Enterprise Corporation, will manufacture soft drinks.

DICA has to date approved the investment of 88 foreign companies in Myanmar.

Source: MIZZIMA Myanmar

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