YANGON, June 14 (Xinhua) -- Myanmar's Yangon Region Investment Committee (YRIC) recently permitted 10 more foreign investment businesses for the region, according to the Directorate of Investment and Company Administration (DICA) on Friday.
A total of 18.986 million U.S. dollars of investments from China, South Korea, Vietnam and the British Virgin Islands entered the region's manufacturing sector, creating about 4,597 local employment opportunities.
Regionally, 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.
According to the DICA's figures, Myanmar attracted over 2.41 billion U.S. dollars' foreign investments as of April 30, the first seven months of the present fiscal year 2018-2019.
The new Myanmar Companies Law which started to enforce on Aug. 1 last year allows foreign investors to take up 35 percent in local companies.
Under the new companies law, investment with capital not exceeding 5 million U.S. dollars can be permitted by regional and states authorities of the DICA.
