Photo credit: Oliver Slow
Workers at a garment factory in an industrial zone near Yangon
Foreign and local investment proposals approved by Myanmar Investment Commission (MIC) in August and September have created 18,923 job opportunities, according the data from MIC.
Industrial sector created 15,867 job opportunities which is the most compared to other sectors. Foreign investment created 16,990 job opportunities and domestic investments 1,933 job opportunities.
There were $706 million of foreign investment and K556 billion in domestic investment in August. $440 million of foreign investment and K76 billion in domestic investment were allowed in September.
“Ministry of Planning and Finance is aiming to attract $11 billion of foreign direct investment annually between 2026 and 2030,” U Maung Maung Win, deputy minister of the Ministry of Planning and Finance, said at Myanmar Global Investment Forum held in Naypyidaw in September this year.
‘‘Foreign direct investment is still at the crucial part in uplifting technology, capacity and job opportunities for the country. We are trying to create a good environment that helps investment,’’ he said.
“The ministry has estimated $8 billion in foreign investments to Myanmar annually between 2021 and 2025, and $6 billion between 2016 and 2020,” U Maung Maung Win, said.
60 percent of foreign direct investments always go to Yangon Region, which is the most in Myanmar, followed by Mandalay Region.
Singapore is the biggest investor in Myanmar, followed by China and Thailand, according to Directorate of Investment and Company Administration (DICA).
There were over $8 billion foreign investment in 2014-2015 Fiscal Year, $9.4 billion in 2015-2016 Fiscal Year and $ 6.6 billion in 2016-2017 Fiscal Year, according to DICA.
Note....
Ghastly! Really its.(2017-18 Access to valuable financial year FDI Scheduled of US $ 6 billion
within to October MIC has allowed foreign investment worth $ 4.5
billion, the actual amount of access from the list until the end of
September there is only $ 2.8 billion (62% drop) of the MIC.
Ref:https://www.mmbiztoday.com/articles/19000-job-opportunities-created-investment-proposals
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