Transport and Communication Sectors Reach US$3Billion in Foreign Investment

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The transport and communication sectors have reached more than US$3billion in foreign investment, accounting for 46 percent of total foreign investment, a source at the Directorate of Investment and Company Administration said.

Until the first week of March in this year, US$3.1billion flowed from 14 foreign investments into the transport and communication sector. Myanmar has received more than US$6.8billion until March this year – and is US$800million above the target set for this year.

Similarly, the transport sector has seen K413billion citizen investment from six projects, accounting for 26.25 percent of investment during this fiscal year. 135 businesses were invested a total of S$5.1billion, while the total foreign investment volume reached US$6.6billion. Under the special economic zone law, further foreign investment volume accounted for US$262.6million. Therefore, the total foreign investment volume reached US$6.8billion, a source of Myanmar Investment Commission said.

Under the Myanmar citizen investment law, Myanmar received K1.5trillion including US$764.6million until the first week of March 2017. As the investment volume is increased, the total grew to K1.57trillion, according to the statement of the MIC.

The investment types of businesses are being scrutinized by means of profitability, creation of new job employments, increasing national income and revenues, local and international market situation, local consumption requirement, technology and innovation, technical transfer, conservation arrangements for environmental and social impacts, responsible investments and respecting existing laws.

 

Source: Eleven Myanmar

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