Singapore to invest in jetty and warehouse project

Singapore will invest 290.124 million US dollars in the construction of jetty and container warehouse under a BOT (Build-Operate-Transfer) system, according to Myanmar Investment Commission (MIC).

The MIC gave the green-light to them, at its meeting on April 26. The project can create 1,176 new jobs for citizens.

At the meeting on April 5, the MIC granted the permits to 22 investments worth 53.271 million US dollars. These investments can create 10,168 new jobs for citizens. The 22 investments are: 20 from the industry sector, one from the hotel and tourism sector and one from other sector.

From October 1 to April 5 of 2018-2019 fiscal year, the country saw an inflow of foreign investments worth over two billion US dollars, according to the press conference held at Directorate of Investment and Company Administration (DICA).

Thant Zin Lwin, acting director-general of the DICA said: “From October 1 to April 5 of 2018-2019 fiscal year, we allowed 147 foreign investments worth 1385.362 million US dollars. The total FDI hit 1909.200 million US dollars including the investment promotion.”

During the same period, the total FDI granted under the Special Economic Zone Law reached 121.070 million US dollars. Till April 5 of this fiscal year, the total FDI inflow hit 2030.27 million US dollars.

Source: Eleven Media

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