Over 1.8-bln-USD foreign investment flows into Myanmar's southern region
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E-mail Xinhua, December 15, 2018
YANGON, Dec. 15 (Xinhua) -- Over 1.8 billion U.S. dollars' investment from 85 foreign enterprises have entered Myanmar's Bago region so far, the official Global New Light of Myanmar reported Saturday.
Manufacturing sector topped the list with 1.4 billion U.S. dollars' foreign investments, followed by onshore petroleum enterprise and agriculture sector in the region.
Investors in the region come mostly from China, Japan, Singapore and Thailand, and the investment also flowed into the region's power, oil and natural gas, transport, hotels and tourism, livestock and fisheries, industrial estate, real estate development and construction sectors.
Meanwhile, the region attracted 946 billion kyats (610.3 million U.S. dollars) so far.
The new Myanmar Investment Law which started to enforce on Aug. 1 this year allows foreign investors to take up 35 percent in local companies.
Under the new investment law, investment with capital not exceeding 5 million U.S. dollars can be permitted by regional and states authorities of the Directorate of Investment and Company Administration (DICA). Enditem
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