THE Yangon Region Investment Committee (YRIC) has endorsed ten foreign enterprises and two joint ventures in the manufacturing sector, with an estimated capital of US$25.955 million, between October 2021 and February 2022 of the current six-month mini-budget period, according to the statistics released by the Directorate of Investment and Company Administration (DICA).

Additionally, two domestic enterprises are also given the go-ahead, with a capital of K3.629 billion.

Those enterprises are to create a total of 6,657 jobs. They will execute manufacturing of bags, footwear, underwear and garments on a Cutting, Making, and Packing (CMP) basis, manufacturing of construction materials, production and sales of aluminium ingot, grinding and manufacturing of pulses and beans, footwear and production and distribution of fish sauce, YRIC stated

The manufacturing sector has attracted the most foreign investments in Yangon Region, with enterprises engaging in the production of pharmaceuticals, vehicles, container boxes, and garments on a Cutting, Making, and Packing (CMP) basis.

To date, foreign investments from China, Singapore, Japan, Hong Kong, the Republic of Korea, Viet Nam, India, China (Taipei), Malaysia, the British Virgin Islands and Seychelles are arriving in the region.

To simplify the verification of investment projects, the Myanmar Investment Law allows the region and state Investment Committees to grant permissions for local and foreign proposals, where the initial investment does not exceed K6 billion, or $5 million.

Htet Myat

GNLM

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