FDI REACHES OVER US $ 2 BILLION WITHIN FOUR MONTHS

Press Conference on Permitted Enterprises according to Myanmar Investment Commission Meeting (2 / 2020) was held on 27th January, 2020 at the office of Directorate of Investment and Company Administration in Yangon.

U Thant Sin Lwin, Secretary of Myanmar Investment Commission, Director General of Directorate of Investment and Company Administration gave details the facts related to permitted enterprises and endorsement enterprises under Myanmar Investment Law and the press statement (2/ 2020) was distributed.

Then, he said that there were (23) foreign investment during the week, including Myanmar Investment Commission Meeting No. (2/ 2020). The total amount of the investment was US $ (433.803) million which will create (11,951) job opportunities for Myanmar citizens.

Therefore, 2019-2020 fiscal years starting on October 1 until January 24 has allowed foreign investment amounted to US $ (2,156.205) million and Myanmar citizen Investment amounted to Kyat 748,311.061 million including US $ 134.469 million.

Finally, the participating media asked the questions and U Thant Sin Lwin, Secretary of Myanmar Investment Commission, Director General of Directorate of Investment and Company Administration replied to the queries. By the end of December 2019, the countries with the largest investment in Myanmar were Singapore, People’s Republic of China, Thailand, Hong Kong and United Kingdom. The top sector is Oil & Gas sector, accounted for 27.00%, followed by the Power sector, accounted for 26.15% and manufacturing sector, accounted for 14.07% of the total permitted amount of foreign investment. A total of (16) reporters from (14) local and international media attended the press conference.