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August 08, 2020

Domestic investments top K1,400 bln in 10 months

Myanmar citizens’ investments in the country has surpassed K1,400 billion in the first ten months of current financial year. PHOTO: PHOE KHWAR
Myanmar citizens’ investments in the country has surpassed K1,400 billion in the first ten months of current financial year. PHOTO: PHOE KHWAR

By Nyein Nyein

Investments by Myanmar citizens in the country exceeded K1,400 billion in the past ten months of the current financial year 2019-2020, an increase of over K200 billion compared to the corresponding period of the previous FY, according to the data released by the Directorate of Investment and Company Administration (DICA).
Between 1 October and 10 July in the current fiscal, 104 local enterprises were allowed to invest in the country by the Myanmar Investment Commission and the state and region investment committees. Domestic investments have reached K1,454 billion so far, including the expansion of capital by existing enterprises, as per the DICA’s data.
Domestic investors pumped K1,260 billion into 138 projects in the corresponding period of the 2018-2019 financial year.
This fiscal year, the number of enterprises permitted was 34 less than the previous year. However, the quantum of investment was larger compared with the year-ago period as the business with large capital flowed into the country, the DICA stated.
During the ten months, the manufacturing sector pulled the largest domestic investments, followed by real estate development and other service sectors. The domestic investments also flow into hotels and tourism, agriculture, oil and gas, transportation and communication, construction, livestock and fisheries, industrial estate, mining and power sectors.  (Translated by Ei Myat Mon)

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