Investment Activities: Magway Region Investment Committee holds meeting

Magway Region Investment Committee held its meeting (1/2023) at the Regional Government office on Monday afternoon. At the meeting, Chairman of Magway Region Investment Committee Magway Region Chief Minister U Tint Lwin said that in 2022, the Region Investment Committee held 11 meetings and the Region Investment Supervisory Team made supervision and coordination of investment activities by making field trips to 16 businesses.

As the inflow of investment in Magway region, Myanmar Investment Commission issued permit to 2 foreign investments having the amount of 55.994 million USD and 1 investment for Myanmar nationals with the value of 1,500 million kyats. Magway Region Investment Committee approved 1 business for Myanmar citizens with the amount of over 1,804 million kyats.

He also added that Magway region has advantages and opportunities to enter FDI in industrial, electricity, oil and natural gas sectors due to geographical condition and abundance of labour force. He also stressed on adopting plans for the investment flows, adhereing laws, bylaws, rules and regulations, fulfilling the requirements on business skills, market implementation and product quality, knowledge sharing on IT and statistics, providing management skills in the respective business fields, capital investment and providing assistance to get achievement of MSME businesses within a short period.Later, members of Magway Region Investment Supervisory Team reported providing services on the field survey.