Myanmar's Yangon attracts 60 pct of nation's total investment in FY 2017-18

YANGON, April 20 (Xinhua) -- Myanmar's Yangon region has attracted about 60 percent of total investments from both home and abroad in the fiscal year 2017-2018, the official Global New Light of Myanmar reported Friday.

During the period, the region attracted 54 million U.S. dollars' foreign investment and 23 billion kyats' local investment.

Mandalay region stood the second, attracting 30 percent of total investment, including 10 million U.S. dollars' foreign investment.

In accordance with the figures from the Directorate of Investment and Company Administration (DICA), a total of 5.718 billion U.S. dollars' foreign direct investment entered the country during FY 2017-2018.

Meanwhile, the country's new investment law has been introduced which contains tax exemption and relief for investors depending on the development of the regions and states allowing investors in far-flung areas enjoy tax breaks up to seven years.

Meanwhile, organized by the DICA, the "Yangon Investment Forum 2018" will be held on May 9, aimed at boosting foreign investments in the country.

Information about customs regulations, tax relief or exemption as well as suggesting new industrial zones and information on the labor market situation will be provided at the forum. Enditem