7 April 2017
Myanmar foreign investment reached over 164 million US dollars in 2017-2018 fiscal year as of April 5th.
Myanmar Investment Commission has permitted 15 businesses, with the total foreign investment of over 79million US dollars.
MIC permitted 12 industry businesses and one each in Livestock breeding, other services and real-estate development. It will create about 9,000 job opportunities for the local employee, according to MIC.
Director General, Directorate of Investment and Company Administration (DICA) , Aung Naing Oo: MIC permitted the investment business base of on economic profits, creation of new job opportunities, National currency income and taxation promotion. It also looked into the local and foreign market condition, local consumption, technology and creation, management of the social and environment impact and following the existing law. MIC allows any interested businessmen to invest in States and Regions for development of Industrial zone.
MIC also permitted 11.274 million US Dollars worth local investment that can create about 500 job opportunities.