Investment commission aims to attract labour-intensive companies

The oil and gas, power supply, manufacturing, telecom and real-estate sectors have topped the list of foreign investments during this year, said Aung Naing Oo, secretary of Myanmar Investment Commission.

China stands first on the list of foreign investors, Singapore, second and Thailand, third.

“Foreign investors are at the moment most interested in the manufacturing sector,” he said, “The MIC is concentrating its effort to promote the inflow of FDI which can create the most jobs for citizens. The MIC prioritises low-technology and labour-intensive investments.

“Thanks to the AEC, food processing has many good prospects. This is our market access.”

Next in line are real-estate and telecom sectors,” he said.

The cooling real-estate market is expected to revive, thanks to a massive inflow of FDI and the creation of a regime for condominiums to enact bylaws.

Last year, the telecom sector led the FDI list. This year, Myanmar is finding increased interest from Asean countries, Japan and China.

Source : Eleven Myanmar

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