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From February 1 to the end of November 2021, Myanmar Investment Law allowed more than $ 3,552 million in foreign investment in 27 projects in nine sectors

From February 1, 2021 to the end of November 2021, under the Myanmar Investment Law, more than $ 3,552 million was approved for 27 projects in nine foreign investment sectors, according to the Ministry of Investment and Foreign Trade. During that period, foreign investment in each sector was $ 3,044.762 million; $ 179.1 million in transportation and communications; $ 162.483 million in the industrial sector; $ 65 million in the construction sector; $ 37.229 million in other services; $ 30 million in the hotel and tourism sector; $ 22.4 million for industrial zone construction; $ 6.379 million in the livestock and fisheries sector.

 In the agricultural sector, a total of US $ 3,552.396 million was approved for foreign investment with US $ 5.043 million. Manufacturing of electric vehicles; The Myanmar Investment Commission has invited domestic and foreign investment, as it will give priority to eight types of investment, including pharmaceuticals and healthcare products. Entrepreneurs are invited to submit proposals for the following types of investment projects.

The Myanmar Investment Commission will give priority to the following types of investment projects to meet the needs of the state development and nation-building activities: These activities are: (a) Fertilizer production; (B) Cement production activities; (C) Steel production activities; (D) Agriculture and Livestock; Activities related to these activities; (E) Production of value-added food products; (F) Manufacturing of electric vehicles; (G) Manufacturing of pharmaceutical and health products; (H) It is known that it is public transportation.

If Myanmar investors and foreign investors interested in the above investment sectors submit their proposals, the Myanmar Investment Commission; Relevant ministries and state and region governments will also provide necessary assistance. In the 2020-2021 fiscal year, foreign investment was the largest in the electricity sector with over $ 3,211 million, followed by the industrial sector with over $ 286 million, followed by the transport and communications sector with over $ 133 million, according to the Directorate of Investment and Company Administration.

Source: Daily Eleven

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