Myanmar approves investments creating over 2,600 employments
Source: Xinhua Time:2020-03-10 08:44:04
The Myanmar Investment Commission (MIC) gave the nod to six local and foreign enterprises to operate in the country, creating over 2,600 local employment opportunities, according to the Directorate of Investment and Company Administration (DICA) on Saturday.
The enterprises including the one that engaged in manufacturing of value-added agricultural products were permitted at the commission's meeting on Friday.
Myanmar. By Qiu Li
Over 131.1 million U.S. dollars and over 113.8 billion kyats (81.2 million U.S. dollars) of investment capital entered from the permitted enterprises, the DICA's release said.
Meanwhile, Myanmar attracted over 20.8 billion U.S. dollars foreign investments as of Jan. 31, the first four months of present fiscal year 2019-2020.
Under the new Myanmar Companies Law which took effective on Aug. 1, 2018, investment with capital not exceeding 5 million U.S. dollars can be permitted by regional and states authorities of the DICA.