$97m FDI approved since April 1, as government targets $3b by October
The Myanmar Investment Commission (MIC) permitted eight foreign investments and 10 domestic investments on May 29. Among them, MIC-approved businesses include one automotive manufacturing and one plastic manufacturing and the rest are permitted by state and regional investment commissions.
With MIC’s approval, Shwe Daehan Motors will invest in vehicle sector in Shwepyitha township, Yangon Region.
From April 1 to May 31, US$97 million investment from 15 foreign firms and K658 billion from 34 local firms were approved. Taking into account expansion of existing investments, the total approved foreign investments amount from April 1 to May 31 is US$148 million, U Than Aung Kyaw added. For domestic investment, the total amount of approved investment for the same period will be K667 billion.
The government’s approved investment target is US$3 billion foreign investment during this six-month transition.
For more details : https://www.mmtimes.com/news/97m-fdi-approved-april-1-government-targets-3b-october.html