$1.8b FDI approved for 2017-18 so far

The Myanmar Investment Commission (MIC) has approved a total of US$1.85 million worth of investments from 66 foreign businesses and K501 billion worth of investments from 24 Myanmar citizens for fiscal year 2017-18.

In June alone, the MIC approved investments worth US713.43 million from 22 foreign businesses and K11.425 billion investment from four Myanmar citizens, according to the Directorate of Investment and Company Administration (DICA).

Foreign businesses which have been approved by the MIC include motor oils storage tank construction project, two real estate projects, one project in transport and communications sector, one in livestock breeding, eight in service and 11 in manufacturing, DICA said in a press conference on June 19.

Among the domestic-based businesses approved by MIC are three projects in the industrial sector and one in the tourism sector.

Another $127 million worth of investments in Thilawa SEZ was also approved during 2017-18 fiscal year, DICA said.

Source : Myanmar Times

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