Myanmar is garnering growing international interest especially from Japan, China and ASEAN countries to make investments in the country, said Dr Than Myint, Minister for Commerce.
Branch offices of the Directorate of Investment and Company Administration (DICA) and the Myanmar Investment Commission (MIC) have already opened in Regions and States throughout the country to facilitate and speed up domestic and foreign investments in addition to their respective Yangon headquarters, Dr Than Myint said. Investment committees in Regions and States are now undertaking the permits for investment value of up to $5 million, according to the minister.
The Ministry of Planning and Finance have established a total of 15 DICA regional branches across the country, aiming to make administrative processes concerned with investment and company registration and permission locally available without coming to Yangon headquarters.
The foreign direct investment (FDI) inflow into Myanmar up to the final week of December last year reached more than $5 billion for the 2017-2018 budget year with Singapore being the biggest investor, according to the press release No. 14/ 2017 of the MIC. Those FDI comes from a wide range of countries including China, India, Indonesia, Japan, Macao, Malaysia, South Korea, Singapore, Thailand, the Netherlands, the United Kingdom, the United States of America, Vietnam, Luxembourg, Taiwan and New Zealand.
