Over 50 new investments initiated in Yangon within 2022
517
Hsu / Phoo Pyae (NP News) - Dec 19
41 new foreign #investments and 12 domestic investments entered into Yangon Region’s economy from January to December 2022, according to the statistics released from the Myanmar Investment Commission.
A total of those new 53 businesses invested 19.396 billion kyats and 74.462 million USD.
Altogether 35792 jobs were created from these businesses for local people and the investments are made in industrial, service and trading sectors.
Types of the businesses and industries were production of rice bags; garment and textiles; plastic bags, plastic sheets; bran products with value-added features; bags and shoes; ready-made foods; dried vermicelli; fiber; fish and shrimp export; and distribution involved. Most productions are operated under CMP system.
Workforces were increased; new job opportunities were created; and investment volumes were also increased as new investments are incoming.
It is reported that those who would like to make investment in Yangon Region can submit application forms to the Directorate of Investments and Companies (Yangon Office) with the capital investment of 5 million USD or 6,000 million kyats. The investment which exceeded that amount can apply to Myanmar Investment Commission.