New investments in Yangon to create over 2740 jobs

YANGON (Eleven Media Group/ANN) - Yangon Region Investment Committee allowed eight local and foreign investments which can create 2,749 jobs for locals.

Yangon Region Investment Committee held its 15/2019 meeting on September 13, attended by Yangon Region Chief Minister Phyo Min Thein and other government officials. 

At the meeting, the committee granted the permit to seven foreign investments worth 6.956 million US dollars and one citizen investment worth Ks380 million, in accord with the Myanmar Investment Law. 

From October 1 to August 28 of 2018-2019 FY, the Yangon Region Investment Committee allowed more than 142 foreign investments worth 239.304 million US dollars, said Myo Khaing Oo, director of Directorate of Investments and Company Administration, at the committee’s press conference. 

China topped the list of FDI with 85 investments, followed by Hong Kong, 24, Taiwan, six, South Korea with six and Japan with four. During this period, the committee allowed eight citizen investments worth Ks 35.653 billion, Myo Khaing Oo added. 

From 1988-89 to July, 2018-19 FY Myanmar allowed around 1,900 foreign investments including Thilawa Special Economic Zone, worth nearly 83 billion US dollars, according to the DICA.