doing business in myanmar – what you need to know as a singaporean
Local and foreign investments created over 140,000 job opportunities in six months of 2019-2020 fiscal year (FY), according to the Directorate of Investment and Company Administration (DICA).
The foreign investment projects approved by the Myanmar Investment Commission (MIC) have created over 130,000 job opportunities for Myanmar citizens in six months of this FY, including the expansion of capital by existing enterprises, according to the official statistics of DICA.
Moreover, local investment projects, granted by the MIC, have created over 11,000 jobs for the local people in the first six months of this FY, containing recruitment by the existing domestic enterprises, according to DICA.
Domestic and foreign businesses also have employed more than 3,600 jobs for foreign workers, including the expansion of capital by existing businesses.
Additionally, 154 foreign enterprises have obtained permits from the MIC and endorsements from the regional and state investment committees in the current fiscal and brought in the capital of over $2.36 billion. The total figure includes an investment of $91.85 million in the Special Economic Zones under the Special Economic Zone Law, according to a press statement issued by DICA.
Myanmar has attracted foreign investment of more than $3.37 billion between 1 October and 3 April in the 2019-2020 fiscal year, including the expansion of capital by existing enterprises, according to the Directorate of Investment and Company Administration (DICA).
Similarly, Myanmar earned K946.551 billion including $159.53 million from 69 domestic enterprises and endorsement grants from the MIC in the first six months of this FY. Domestic investments including the expansion of capital by the existing enterprises have reached K1,211.894 billion including $252.926 million as of April in the current FY, according to DICA. (Translated by Hay Mar)
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Source : The Global New Light of Myanmar
