Friday, April 28, 2017 - 9:31:14

Myanmar announces restriction of some investment activities

VNA Print

A container port of Myanmar. (Photo: AFP/VNA)
 
Hanoi (VNA) - The Investment Commission of Myanmar has announced restriction of some investment activities, with several sectors being only invested by the State.

According to Myanmar’s Global New Light newspaper on April 14, sectors with state investment include security and defence, arms and ammunition for national defence, national stamps, post, aviation, afforestation and natural forest management (except businesses relating to reduction of carbon emission), radioactive metals such as uranium and electricity.

Meanwhile, 12 sectors are open for foreign investment, including fresh water fisheries and relevant services, publishing and distribution of periodicals in ethnic languages.

As many as 135 foreign investors poured over 6.8 billion USD into Myanmar in the last fiscal year which ended in March, bringing the total foreign investment in the Southeast Asian nation since late 1988 to 70.35 billion USD.

Myanmar targets over 6 billion USD in foreign investment during the 2017 fiscal year as its new investment law, endorsed by the parliament in October 2016, began to take effect in April.-VNA

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