Saturday 31 August 2013

Citizen investment reaches over K 3069 billion

Local investment has reached over 3069 billion Kyat after the Myanmar Investment Commission gave permits to another nine citizen-owned businesses, according officials.

Myanmar nationals have opened 11 enterprises in the country this year according to the report of the Directorate of Investment and Companies Administration (DICA).


Businessmen from Yangon, Mandalay and Magway Regions will be investing in various enterprises including a 50-MW natural gas-fired power plant, motorway tolls, garment manufacturing, and the construction of hotels and shopping centres.

Shwetaung Company is planning to lease the State’s Defence University under a build, operate and transfer agreement for the construction of hotel, service apartment and shopping complex.

Myanmar businessmen mostly invested in the construction industry in the past, but now are moving into other sectors such as foodstuff enterprises. The manufacturing sector stands first in the chart of citizen investment with an investment volume of K 801 billion.
 
source: Eleven Myanmar

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