MIC Receives $3.4 Billion in Proposed Foreign Investment Projects


Around 70 proposed foreign investment projects worth about US$ 3.4 billion have been submitted to the Myanmar Investment Commission (MIC), just two and a half months before the end of fiscal year 2016-17, says Aung Naing Oo, secretary of the MIC.

As of January of this the fiscal year, Myanmar has received foreign investment projects worth about $4.5 billion and the number of foreign investments is expected to exceed the projected amount, according to the Directorate of Investment and Company Administration.

“The projected amount is about $6 billion. We have already received investments worth about $4.5 billion. It’s nearly three months before the end of this fiscal year. And we received foreign investment projects proposals worth about $3.4 billion. When combined, they will be more than $6 billion,” said Aung Naing Oo.

He added that foreign investments made in November and December last year were very strong.

Between April and mid-December, the MIC granted permits to 78 investments worth $2.1 billion. Total investment, including investment promotion, has reached $3.4 billion.


Source: Eleven Myanmar

NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, "Puma Energy", “MOGE”, “yangon new town”,"MECTEL", "hydropower", etc.