June 29, 2017

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Citizen investments expected to reach over 38 per cent in real estate sector

Houses are seen in this general view of Yangon City on 6 April 2016. Photo: Nyi Zaw Moe
Houses are seen in this general view of Yangon City on 6 April 2016. Photo: Nyi Zaw Moe

Citizen investments are expected to reach over 38 per cent in the housing sector in the 2017-18 fiscal year, according to the next Myanmar five-year development plan.
Investment from Myanmar citizens per fiscal year is mentioned in the plan, with over K1.6bn of investments in all sectors in 2017-18.  Citizen investments of K629bn are expected to invest in the real estate sector.
Citizen investors have to submit required forms and a proposal to the Myanmar Investment Commission (MIC) to seek exemption and relief in investment.
The process of approval for investment has to pass many stages. MIC will ask for the opinion of the regional and state governments concerned as well as ministries concerned regarding the proposal they have received.  Only after obtaining their opinion, MIC will decide whether to grant permission for investment at a MIC meeting. —200

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