Myanmar permits 300 mln foreign investment for infrastructure project

Source: Xinhua| 2019-04-27 13:14:01|Editor: Xiaoxia
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YANGON, April 27 (Xinhua) -- Myanmar Investment Commission (MIC) recently permitted over 290.1 million U.S. dollars' foreign investment project in the infrastructure sector, the Directorate of Investment and Company Administration (DICA) said on Saturday.

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 U.S. dollars of foreign investments from 139 projects entered the country while the transport and communication sector topped the list with over 680 million U.S. dollars of investment.

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