Myanmar permits $300 mln foreign investment for infrastructure project

29 April 2019
Myanmar permits $300 mln foreign investment for infrastructure project

Myanmar Investment Commission (MIC) recently permitted over 290.1 million US dollars' foreign investment project in the infrastructure sector, the Directorate of Investment and Company Administration (DICA) said. 

The investment from Singapore was permitted by the commission for port and container yard on the build-operate-transfer (BOT) basis and was expected to create 1,176 employment opportunities for local people. 

In first half of the present fiscal year 2018-2019, over 1.87 billion US dollars of foreign investments from 139 projects entered the country while the transport and communication sector topped the list with over 680 million US dollars of investment. 

During the period, Singapore was listed as the largest investor with over 1.1 billion US dollars' investments, DICA's figures showed.

Courtesy of Global Times