A

FDI Flow: Foreign Investment Exceeds It Targets With Over 6.87 Billion USD: MIC

Foreign investment exceeds it targets amount during this fiscal year with over 6.87 billion US dollars, the Director General U Aung Naing Oo said at a press conference on Tuesday.
Myanmar Investment Commission expects 6 billion US dollars foreign investment for this fiscal year, and it now reached to over 6.87 billion US dollars as of March 14th.
Transport and communication sector occupied 46.6% of its investment, and industry sector and electricity sector went for second and third respectively.
DIRECTOR GENERAL, DIRECTORATE OF INVESTMENT AND COMPANY ADMINISTRATION,
AUNG NAING OO: As we have expected, the foreign investment goes over 6 billion USD in this fiscal year. Now it got over 6.87 billion which is 800 million more than our expectation. Moreover, transport and communication sectors, occupied the highest percentage of foreign investment as we expected.
On the other hand, the Myanmar Investment Commission has prepared the investment process to be smoothened in accord with the Myanmar Investment Law.
Reforms include tax exemption for targeted sectors for development, restricted businesses for local and foreign investment, as well as authorities of regional investment commission.
Detail for reform process is targeted to be released officially within this month, aiming the operation to be ready in the next fiscal year.
DIRECTOR GENERAL, DIRECTORATE OF INVESTMENT AND COMPANY ADMINISTRATION,
AUNG NAING OO: We aim the process and procedure to be easy, convenient and fast according to the new law. We targeted the new releases and by-laws to be ready in March so that the law can be operated very well in the next fiscal year.
Over 150 foreign companies have entered to Myanmar during this fiscal year, according to the updated information by the commission.

Add new comment

RefreshType the characters you see in this picture.Type the characters you see in the picture; if you can't read them, submit the form and a new image will be generated. Not case sensitive.  Switch to audio verification.