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Myanmar grants four foreign investment proposals

Xinhua, June 29, 2016 Adjust font size:

The new Myanmar Investment Commission (MIC) has granted four foreign investment proposals and four locals' since its reformation, according to Directorate of Investment and Company Administration (DICA) Wednesday.

The foreign investment proposals deal with manufacturing of footware and electric wire, publishing of news paper in foreign language, providing service of supply chain equipment.

The new 11-member Investment Commission, formed on June 8 with Minister for Planning and Finance U Kyaw Win as chairman.

The country drew 9.5 billion U.S. dollars foreign investment in the last fiscal year 2015-2016.

According to official statistics, foreign investment in Myanmar totaled 63.718 billion U.S. dollars as of the end of March 2016 since late 1988.

China topped the foreign investors' line-up with 18.072 billion U.S. dollars , accounting for 28.36 percent of the total, followed by Singapore with 13.066 billion U.S. dollars and Thailand with 10.5 billion U.S. dollars. Enditem