ZCZC
BCN-35
MYANMAR-ENTERPRISE-INVESTMENT
Myanmar permits over 80 investment enterprises in Yangon region
YANGON, Sept. 9, 2018 (BSS/Xinhua) – Myanmar’s Yangon region investment
committee (YRIC) has permitted a total of 86 enterprises from home and
abroad, creating over 40,000 job opportunities, so far in Yangon region, the
official Global New Light of Myanmar reported Saturday.
Since August last year, the 124.7 million U.S. dollars’ investment from
the enterprises entered the region’s manufacturing sectors such as garment
production on Cutting, Making and Packing (CMP) basis, manufacturing
pharmaceuticals, vehicles and container boxes.
The permitted enterprises are those from 11 foreign countries and regions
including China, Singapore, Japan, China’s Hong Kong, South Korea, Vietnam,
Malaysia and India.
The country’s Yangon region attracts 60 percent of both local and foreign
investments, followed by Mandalay with 30 percent and the rest flows into
other regions and states.
The new Myanmar Companies Law which started to enforce on Aug. 1 this year
allows foreign investors to take up 35 percent in local companies and
investment with capital not exceeding 5 million U.S. dollars to be permitted
by regional states authorities of the Directorate of Investment and Company
Administration (DICA.
BSS/XINHUA/HR/1448