MIC Reports Investment High of More Than US$6 Billion Under NLD

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The foreign investment volume for Myanmar has reached over US$6 billion during the almost now eight months of NLD government leadership, exceeding original targets, Aung Naing Oo, director-general of the Directorate of Investment and Company Administration (DICA) told a press conference on January 23.

According to the foreign investment law, Myanmar received 106 enterprises bringing $4.4 billion in foreign investments during the 2016-2017 fiscal year. Total foreign investment capital reached $5.78 billion.

According to the special economic zone law, during the 2016-2017 fiscal year, the Thilawa Special Economic Zone saw $217.5 million in investments.

Meeting 2 of 2017 of the Myanmar Investment Commission (MIC) was held in Yangon on 21st where it was reported that Myanmar accepted six enterprises representing a total foreign investment of $1.4 billion, creating 5,600 potential jobs.

Foreign investment proposals have been considered depending on their perceived profit potential, the creation of new jobs , contribution to GDP, increased tax revenues, the market situation at home and abroad, the local consumption requirement, technical convenience, innovation, technical transfer, plans for protecting the environment and social atmosphere, responsible investment and the following of existing laws.

 

 

Source: Eleven Myanmar
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