Myanmar Investment Commission to be reformed

THE Myanmar Investment Commission, which has the power to approve or reject investments in the country, will be reformed under Myanmar’s new government.

“The Myanmar Investment Commission will be reorganised according to the new Foreign Investment Law and the Myanmar Citizens’ Investment Law.

The amount of foreign investment was US$9.48 billion during the 2015-2016 budget year. When compared to the 2014-2015 budget,it is $1.48 billion higher.

Myanmar aimed to earn about$8 billion this budget year from the investment,” said U Than Aung- Kyaw, the assistant director of the Directorate of Investment and Company Administration. China and Singapore are the leading investors in Myanmar.The largest share of foreign investment goes into the oil and natural gas sector.

Source: PPN/Union Daily

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