Myanmar's Yangon region investment committee (YRIC) has permitted a total of 86 enterprises from home and abroad, creating over 40,000 job opportunities, so far in Yangon region, the official Global New Light of Myanmar reported Saturday.
Since August last year, the 124.7 million U.S. dollars' investment from the enterprises entered the region's manufacturing sectors such as garment production on Cutting, Making and Packing (CMP) basis, manufacturing pharmaceuticals, vehicles and container boxes.
The permitted enterprises are those from 11 foreign countries and regions including China, Singapore, Japan, China's Hong Kong, South Korea, Vietnam, Malaysia and India. The country's Yangon region attracts 60 percent of both local and foreign investments, followed by Mandalay with 30 percent and the rest flows into other regions and states.
The new Myanmar Companies Law which started to enforce on Aug. 1 this year allows foreign investors to take up 35 percent in local companies and investment with capital not exceeding 5 million U.S. dollars to be permitted by regional states authorities of the Directorate of DICA.
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