The Myanmar Investment Commission has approved more than US$500 million worth of foreign direct investments (FDI) from 11 businesses and K50 billion in local investments on April 3, a day after the total number of COVID-19 positive cases in the country climbed to 20.
The approved amount of $555.233 million and K 51.040 billion includes investments into sectors such as industry, construction and services, in addition to the expansion of 13 existing businesses.
After the businesses are in operation, a total of 3234 jobs could be created for Myanmar.
As at the end of March, Singapore, China and Thailand topped the list of permitted FDI in Myanmar.
A total of 51 countries have invested in 12 economic sectors and oil and gas sector tops among them with 27 percent, followed by electricity with 26.3pc and manufacturing with 14.2pc.
Ref & Photo Credit : The Myanmar Times
Posted By: Ra Wai (ShweProperty.com)
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