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Most exports from MIC-registered firms

Around 58 per cent of exports between 2011 and 2016 were from businesses running under the official permission of the Myanmar Investment Commission (MIC), said commission secretary Aung Naing Oo.

Exports earned more than US$7 billion in the 2011-12 financial year, US$6 billion in 2012-13, US$8 billion in 2013-14, US$7 billion in 2014-15 and US$6 billion in 2015-16, according to the Directorate of Investment and Company Administration.

Over the last six years Aung Naing Oo said domestic sources invested over Ks12 trillion into production, transport, housing development, hotels and tourism and the construction sectors until the end of December.

Ks11 trillion was invested before March 2016 and more than Ks742 billion under the National League for Democracy government.

The MIC said it had allowed 1,224 investments in 11 sectors.

Foreign investment in Thilawa Special Economic Zone had exceeded US$900 million and total foreign direct investment was set to reach US$6 billion this financial year, the commission said.

 

Source: Eleven Myanmar

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