Fifty-two foreign enterprises approved by investment commission this year

Fifty-two foreign enterprises were established in Myanmar as of mid-October this fiscal year, making investments of US$662.835million, said U Aung Naing Oo, the director-general of the Directorate of Investment and Company Administration (DICA).

Myanmar Investment Commission (MIC) approved a total of 14 foreign investment businesses, according to Myanmar Investment Commission Meeting (18/2016) and (19/2016), with a total of US$278.958million invested. Thirteen permitted foreign enterprises will be engaged in industrial businesses. The remaining business will make an investment in transportation and communication. These fourteen permitted enterprises will create a total of 8,859 jobs.

In keeping with Myanmar Citizen Investment Law, Myanmar Citizen Investment was permitted in industrial business, with investments of US$3.827million and Ks5,946.7,442 resulting in 85 jobs according to MIC Meeting (18/2016).

Source: Global New Light of Myamar

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