Permission For Investments: 57 Local And Foreign Investments Permitted In 4 Months

From January to April 2022, a total of 57 local and foreign investments have been permitted to invest in Myanmar, and among these investments, the industrial manufacturing sector is the most invested one.

For foreign investments, 36 permissions have been granted with the value of over 400 million US dollars, according to the Deputy Director General of Directorate of Investment and Company Administration.

Min Zaw Oo, Deputy Director General, Directorate of Investment & Company Administration said “ From January to April 2022, we have permitted 36 foreign investments which valued 407 million USD. Among them, 33 manufacturing sectors, 1 services sector and 2 livestock and fisheries sectors are included. By country, the People’s Republic of China has the most investments while Hong Kong and Korea stand at second and third places respectively.”

The permissions have also been made to 21 investments from Myanmar citizens with the value of over 231 billion kyats.

Min Zaw Oo, Deputy Director General, Directorate of Investment & Company Administration said “As for Myanmar citizen investments, we have permitted 21 investments which valued 231.587 billion kyats from January to April 2022. These include 10 manufacturing sectors, 2 hotel and tourism sectors, 5 service sectors, 1 power sector, 1 real estate development sector, 1 livestock and fisheries sector and 1 mining sector.”

It is learnt that there are more investment proposals from 17 foreign companies and 29 local companies. After the proposed investments have been permitted, the foreign investments value will increase by 859 million USD and the Myanmar citizen investments value will increase by 1,985 billion kyats.