Bago Region Investment Committee grants endorsement for six investment proposals

Source : The Global New Light of Myanmar
View Count : 571
May 09, 2018

SINCE January 2017, the Bago Region Investment Committee has issued endorsements for six investment proposals, with a capital of some US$16.35 million.
        The investments are primarily in the manufacturing business, creating more than 7,100 job opportunities.
        Some 78 foreign businesses are being executed in the Bago Region, with an estimated capital of some $1.58 billion. The region saw investments worth some Ks944.7 billion by Myanmar citizens through 37 domestic businesses. According to the guidance of the Directorate of Investment and Company Administration (DICA), an information event on “Myanmar Investment Law, Rules and Myanmar Companies Law” was held on 8 May 2018 at the City Hall of Bago in Bago Region with the support of GIZ Myanmar. At the event, U Win Thein, Chief Minister of Bago Region, delivered the opening speech.
        The meeting was held in two sessions. During session 1, DICA directors Dr. Lwin Thuzar Shwe, U Myo Min and U Ko Ko Latt made a presentation on the Myanmar Investment Law, Rules and the Myanmar Companies Law.
        During session 2, panelists from DICA and U San Lwin, chairman of Bago Region Hotel Association, held a panel discussion on the Myanmar Investment Law, Rules and the Myanmar Companies Law. The Bago Region DICA (branch) office was opened in January 2017.
        According to the new Myanmar Investment Law, region and state DICA offices are authorised to grant approval to investment proposals with capital not exceeding $5 million (Ks6,000 million), with the aim of facilitating the verification process of investment projects.

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