70% of foreign investment comes through Yangon

About 70 per cent of overall foreign investment flowing into Myanmar comes through Yangon region, said Deputy Director Than Aung Kyaw from the Directorate of Investment and Companies Administration (DICA).

Investment committees from regions and states are allowed investments worth US$5 million and 6 billion kyat.

Yangon region investment committee allowed 27 foreign investments and four local investments in industrial and service sectors from August 2017 to January 24, 2018. Investment capital totalled over $40 million and 11.719 billion kyat and created a potential 12,399 job opportunities.

The foreign investments originated in Singapore, China, South Korea, Taiwan, Hong Kong, Japan and Malaysia.

According to the Myanmar Investment Commission (MIC), more than $5.4 billion worth of foreign investment entered Myanmar up until the first week of February in 2017-18 FY.

A total of 195 foreign investments worth of $4.418 billion were allowed or approved up until first week of February in 2017-18 FY. The total investment amount was $5.404 billion, including additional investments.

In approving foreign investments, the weighs multiple factors, including economic benefit, potential job creation, increased income and revenues, the foreign and local market situation, demand for local consumption, appropriate technology, innovation, transfer of technology, environmental and social impacts, accountability for investments and alignment with existing laws and regulations.

Source: Eleven Myanmar

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