0426N-Myanmar-foreign-investment

MIC gives go ahead to 14 foreign projects as of 25 November

The Myanmar Investment Commission gave green light to 14 foreign projects from China, China (Taipei), Hong Kong SAR, Singapore and the Republic of Korea during the period from 1 October and 25 November of the current mini-budget period and the capital of US$65.786 million were brought into the country, including expansion of capital by existing enterprises, according to the Directorate of Investment and Company Administration (DICA).

Those enterprises are to execute in agriculture, livestock and fishery, manufacturing, electricity and other service sectors respectively. The Ministry of Investment and Foreign Economic Relations has been inviting responsible businesses to benefit the country.

The Myanmar Investment Commission (MIC) ensures to approve the responsible businesses by assessing environmental and social impacts. The commission is working together with the relevant departments to screen the projects. Next, the COVID-19 surge and the political changes led to the drastic fell in this year’s FDI sector compared with that of previous years. Myanmar attracted foreign direct investment of more than $3.79 billion in the last financial year 2020-2021 from 48 enterprises.

Source: The Global New Light of Myanmar

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