YANGON, Myanmar Myanmar’s Mandalay region investment committee has permitted 67 foreign investment enterprises from over a dozen counties to operate in the region so far, the official Global New Light of Myanmar reported Friday.
A total of 3.4 billion U.S. dollars from the permitted enterprises entered the sectors of manufacturing, power and other services.
Meanwhile, 158 domestic businesses with a capital of 4.8 trillion kyats (3.2 million U.S. dollars) were allowed to engage in infrastructure, manufacturing and other service sectors.
A regional investment fair is scheduled for Nov. 9 in Mandalay, the country’s second largest city, aiming to promote trade and investment for the development of the region.
Myanmar government formed the Mandalay region investment committee in July last year to assess and approve foreign direct investments sought in the region with an amount not exceeding 5 million U.S. dollars.
Of the regions of the country, Yangon region attracts about 60 percent of both local and foreign investments, followed by Mandalay with 30 percent and the rest flows into other regions and states.
Source: NAM News Network