Xinhua, Yangon :
Myanmar has permitted 20 foreign and local enterprises to invest in the country this month in its latest scrutiny of foreign investment application, according to the Myanmar Investment Commission Thursday.
The 20 enterprises include wholly foreign invested, joint venture and local Myanmar-owned ones undertaking garment production, hotel business, poly bag production and paper bag production.
Of the 20 enterprises, nine garment factories are to be established in Hlaingthaya Industrial Zone, Dagon Myothit Industrial Zone and Mingyan of Mandalay, while hotels are to be built in Nay Pyi Taw, Hpa-an in Kayin state and Ngapali Beach in Thandwe, western Rakhine state.
In December 2014, Myanmar allowed 13 foreign and local companies to make investment in the country, including 11 foreign firms and two local ones, according to the commission.
Statistics show that contracted foreign investment in Myanmar reached 50.61 billion U.S. dollars in 828 projects as of the end of November 2014 since 1988.
Of the 37 countries and regions investing in Myanmar, China ranked the first in terms of value with over 14.48 billion U.S. dollars, accounting for 28.61 percent of the total, followed by Thailand with 10.21 billion U.S. dollars, Singapore with 7.03 billion U.S. dollars and China’s Hong Kong with 6.95 billion U.S. dollars.
Myanmar has permitted 20 foreign and local enterprises to invest in the country this month in its latest scrutiny of foreign investment application, according to the Myanmar Investment Commission Thursday.
The 20 enterprises include wholly foreign invested, joint venture and local Myanmar-owned ones undertaking garment production, hotel business, poly bag production and paper bag production.
Of the 20 enterprises, nine garment factories are to be established in Hlaingthaya Industrial Zone, Dagon Myothit Industrial Zone and Mingyan of Mandalay, while hotels are to be built in Nay Pyi Taw, Hpa-an in Kayin state and Ngapali Beach in Thandwe, western Rakhine state.
In December 2014, Myanmar allowed 13 foreign and local companies to make investment in the country, including 11 foreign firms and two local ones, according to the commission.
Statistics show that contracted foreign investment in Myanmar reached 50.61 billion U.S. dollars in 828 projects as of the end of November 2014 since 1988.
Of the 37 countries and regions investing in Myanmar, China ranked the first in terms of value with over 14.48 billion U.S. dollars, accounting for 28.61 percent of the total, followed by Thailand with 10.21 billion U.S. dollars, Singapore with 7.03 billion U.S. dollars and China’s Hong Kong with 6.95 billion U.S. dollars.
