According to Mandalay Province, a few days ago, the Mandalay Investment Committee approved for the first time this year whether it is a wholly foreign-owned project in the industrial field and a joint venture project in the field of electric energy. A person in charge of the Ministry of Investment and Foreign Trade said that the investment in two foreign investment projects approved by Mandalay Province amounted to 4.308 million US dollars, which is expected to bring 709 local jobs.
In May this year, the Mandalay Investment Committee decided at the meeting to approve the extension of the construction period of investment projects in Mandalay Province. In July, the Investment Committee approved three fully domestic enterprise investment projects with a total investment of 6.719 billion Kyats.
World investment data shows that in 2020, the total number of global investment projects fell by 42%. Industry experts expect that global investment will continue to decline by about 5% to 10% this year. A few days ago, the Mandalay Investment Committee issued a statement inviting foreign investors to enter Myanmar and set up business investment enterprises in accordance with relevant domestic regulations and regulations.
In recent months, due to the epidemic, a number of foreign-funded enterprises have suspended projects in Myanmar. Among them, some investors said that they would re-evaluate the business environment in Myanmar and resume stability before continuing to carry out projects in Myanmar. In addition, some investment companies have made it clear that they will not withdraw from Myanmar and have sufficient confidence in the future situation in Myanmar.
All along, Myanmar's main approved investment projects are mainly divided into 12 fields, namely agriculture, animal husbandry, mineral development, manufacturing, energy, oil and gas open exploration, construction, transportation and communications, hotels and tourism, real estate, industrial zone development and service industry related industries.