Twelve enterprises recently permitted by MIC

The Myanmar Investment Commission (MIC) permitted 12 enterprises which are in line with investment regulations and laws in the current fiscal year 2017-2018, according to a recent meeting of MIC.

A total of 4,343 job opportunities are created from those permitted enterprises. They consist of two Myanmar citizen enterprises, two foreign enterprises and eight joint ventures, which will be engaged in the manufacturing and marketing of preserved and canned food, a poultry and hatchery, hotel services, construction, leasing and management of apartments, warehouse and storage facility, health care services and operation of a teleport satellite and its related services, according to an announcement of the Directorate of Investment and Company Administration (DICA).

The FDI flowing into the country in the previous fiscal year 2016-2017 hit over US$6.8billion, which exceeded the expectation of US$6billion, mostly into the industrial manufacturing and transport and communication sectors.

The foreign investments enter these sectors; oil and gas, power, transport and communication, manufacturing, real estate, mining, hotel and tourism, livestock and fisheries, agriculture, industrial estate, construction and other services.

Foreign direct investment (FDI) of over US$6billion is likely to flow into the country in 2017-2018, according to the DICA.

Source: The Global New Light of Myanmar