9,000 Job Opportunities Created by Investment Proposal

Author: Lin Latt | 17 Nov 2017

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