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Yangon Region attracts FDIs worth US$370 million in past three months


Published July 22, 2018
By May Thet Hnin@The Global New Light of Myanmar

Foreign direct investments, including investments in special economic zones, worth over US$370 million were brought into Yangon Region between April and June 2018, said U Myo Khaing Oo, secretary of Yangon Investment Committee.

During the past three months, 16 foreign enterprises made investments of $222 million, while three foreign investments invested some $149 million at the Thilawa Special Economic Zone.

The manufacturing sector absorbed the most number of foreign investments in Yangon Region. The enterprises are engaged in the manufacturing of pharmaceuticals, vehicles, container boxes and garments on Cutting, Making and Packing (CMP) basis, U Myo Khaing Oo said.

“Around seven more garment enterprises on CMP basis made investments in Yangon Region, mostly the extended businesses. The bonded warehouse business and producing metal and hangers for use in garment enterprises on CMP basis were also seen,” he maintained.

The main investors in Yangon Region are China, Singapore, Japan, Hong Kong, South Korea and Viet Nam.

Some 26 foreign enterprises were approved by the Myanmar Investment Commission in the past three months, with capital of some $395 million. Yangon Region received the largest investments of $370 million.

MIC gave the green light to a total of 46 domestic enterprises with estimated capital of Ks704 billion. Yangon Region attracted 14 of them, receiving Ks525 billion.

Original Source: http://www.globalnewlightofmyanmar.com/yangon-region-attracts-fdis-worth-us370-million-in-past-three-months/

Aerial view of Thilawa Special Economic Zone.  Photo: Myanmar International Terminals Thilawa
Created at 2018-08-06 23:49:40