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Yangon Region Receives $22 Billion FDI in Six Years
AUTHOR: TIN MG OO
The Yangon Region has received $22 billion in Foreign Direct Investment (FDI) over the last six years, according to U Phyo Min Thein at the Yangon Investment Forum held on May 10.
The Chief Minister of Yangon, U Phyo Min Thein, said: “Yangon is a strategic location for investment in Myanmar. When you look at the investment trends into the country, you will see that around 50 percent of investment in the country goes in Yangon Region.
Over the last six years, the Yangon Region has received over K8.5 trillion in investment by local businessmen. As of April 2019, $2.6 billion of foreign investment went into the Thilawa Special Economic Zone.
Yangon Regional Investment Committee was formed in July 2017 with authority to approve foreign investments up to a maximum of $5 million. The committee has approved 161 foreign investments with the total investment amount of $194 million in various sectors such as industry, hotels and tourism, agriculture, aquaculture, and other service areas.
It also approved the total of 221 local investments for a total amount of K60.5 billion.
Myanmar’s Border Trade Reaches Nearly 5 bln USD in Mid FY 2018-19
AUTHOR: XINHUA Myanmar's trade with foreign countries through border gates reached over 4.83 billion U.S. dollars as of March 29 in fiscal year 2018-19, according to the figures from the Commerce Ministry Friday.
Nearly 2 bln USD Foreign Investments Enter Myanmar in First Half of FY 2018-19
AUTHOR: XINHUA Over 1.87 billion U.S. dollars of foreign investments entered Myanmar's sectors in first half of present fiscal year 2018-2019, according to the figures from the Directorate of Investment and Company Administration (DICA).
Myanmar, Thailand Border Trade Hit 1.4 Bln USD in 1st Half of FY 2018-19
AUTHOR: XINHUA Border trade between Myanmar and Thailand totaled about 1.4 billion U.S. dollars in the first half of fiscal year (FY) 2018-2019 which started in October last year, according to the figures from Myanmar's Ministry of Commerce Saturday.
Myanmar Estimates K7.2 Trillion Budget Deficit
AUTHOR: SWE LEI MON Myanmar is suffering from severe budget deficits every single year, and estimates indicate that the budget deficit in Fiscal Year 2019 will be around K7.2 trillion according to the Ministry of Planning and Finance. During the six-month transitional fiscal year from April 2018 to October 2018, Myanmar recorded a budget deficit of K4.2 trillion, said U Maung Maung Win, the Deputy Minister of the Ministry of Planning and Finance, at the Union Parliament.
Myanmar, Vietnam Trade Reaches Nearly 200 mln USD in First Quarter Of FY 2018-19
AUTHOR: XINHUA Bilateral trade between Myanmar and Vietnam reached 196 million U.S. dollars as of December in the present fiscal year 2018-2019 which started in October last year, according to the figures from the Commerce Ministry on Saturday. During the first quarter of this FY 2018-2019, Myanmar's export to Vietnam hit 48.5 million U.S. dollars while its import shared 147.7 million U.S. dollars.