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August 05, 2020

Local, foreign business firms create over 500,000 jobs

By Nyein Nyein

The local and foreign enterprises which had been permitted and endorsed by the Myanmar Investment Commission (MIC) and regional and state investment committees created over 500,000 jobs opportunities in over four years of the current government period, according to the Directorate of Investment and Company Administration (DICA).
The permitted domestic and foreign businesses employed more than 160,000 domestic workers in 2019-2020 fiscal year (from October to May), more than 180,000 workers in 2018-2019FY, more than 53,000 workers in 2018 mini-budget periods (from April to September), more than 110,000 workers in 2017-2018FY and over 19,000 workers in 2016-2017FY. Additionally, the permitted domestic and foreign enterprises created job opportunities for over 17,000 domestic workers in the current government period, according to the DICA. The MIC is giving priority to labour-intensive enterprises over other investment proposals submitted. More than 100,000 domestic workers are employed annually in domestic and foreign enterprises in the current government period. (Translated by Hay Mar)

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