Myanmar allows 15 more firms to operate

Xinhua, YANGON: Myanmar’s Investment Commission has allowed 15 more domestic and foreign firms to operate so far this month, an official report said yeterdayday.
In the form of locally owned, wholly-foreign
owned or joint venture, the approved businesses involve manufacturing, construction, real estate, services and hospitality.
The businesses cover establishment of a hotel
on Thuhtay Island in Kawthoung, Tanintharyi region, commercial building leasing in Yangon, establishment of clothing manufacturing plants, production of beverage, fishing hooks, foodstuff and cement as
well as packaging in industrial zones in Yangon, Ayeyawaddy and Bago regions and Shan state.
Other service businesses include mechanical fabrication and rental services of heavy cranes.
Last month, the commission allowed seven foreign and local enterprises to engage in manufacturing and construction businesses.
According to the commission, annual contracted foreign investment nearly doubled from 4.1 billion US dollars in 2013-14 to 8.01 billion US dollars in 2014-15, expecting to receive six- billion-US dollar investment in the current fiscal year
of 2015-16.

 

Myanmar allows 15 more firms to operate

Xinhua, YANGON: Myanmars Investment Commission has allowed 15 more domestic and foreign firms to operate so far this month, an official report said yeterdayday. In the form of locally owned, wholly-foreign owned or joint venture, the approved businesses involve manufacturing, construction, real estate, services and hospitality. The businesses cover establishment of a hotel on Thuhtay Island in Kawthoung, Tanintharyi region, commercial building leasing in Yangon, establishment of clothing manufacturing plants, production of beverage, fishing hooks, foodstuff and cement as well as packaging in industrial zones in Yangon, Ayeyawaddy and Bago regions and Shan state. Other service businesses include mechanical fabrication and rental services of heavy cranes. Last month, the commission allowed seven foreign and local enterprises to engage in manufacturing and construction businesses. According to the commission, annual contracted foreign investment nearly doubled from 4.1 billion US dollars in 2013-14 to 8.01 billion US dollars in 2014-15, expecting to receive six- billion-US dollar investment in the current fiscal year of 2015-16.