April 18, 2017

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Real estate development is 20% of Myanmar citizen investments

File photo shows ariel view of Yangon’s developing real estate, which draws in a considerate rate of investment from its citizens. Photo: GNLM/ Phoe Khwar

Real estate development accounted for over 20 per cent of investments by Myanmar citizens, followed by the manufacturing and transport sectors.
A total of 1,241 enterprises of Myanmar citizens were allowed in 11 sectors, with total investments of Ks13,191,116.485 million, according to the statistics provided by the Directorate of Investment and Company Administration (DICA).
Myanmar citizens’ investments as of 31st March 2017 are over Ks2,767 billion in real estate development sector with 61 enterprises, over Ks2,438 billion in manufacturing with 746 enterprises, over Ks2,302 billion in transport with 43 enterprises, Ks1,415 billion in hotel and tourism with 104 enterprises, over Ks936billion in construction with 68 enterprises, over Ks575 billion in industrial estate with nine enterprises, over Ks456 billion in power with 10 enterprises, over Ks1,41 billion in mining with 64 enterprises, over Ks69 billion in livestock and fisheries with 70 enterprises, over Ks50billion in agriculture with eight enterprises and Ks2,037 billion in other sectors with 58 enterprises respectively.
Citizen investments in the incumbent government
period has reached over Ks1,567 billion.
Myanmar citizen investors have to submit a proposal in a prescribed format to Myanmar Investment Commission (MIC) (Nay Pyi Taw) so as to enjoy exemptions and reliefs, it is learnt.—Mon Mon

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