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- ASEAN Economic Community Workshop held in Myanmar
- Vietnam-Myanmar economic seminar in Yangon
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Citizen investment amounts to 2 trillion kyats
Published on Wednesday, 28 November 2012 21:05
Ahlone shipyard which has been leased to a private company under a build, operate and transfer (BOT) system (Photo - Marn Thu Shein/EMG)
As Myanmar businesspersons have increased their investment of 565 billion kyats (US$662.76 million), the total amount of their capital has amounted to 2 trillion kyats in 2012, according to the statistic of Directorate of Investment and Companies Administration.
Most of the local investments have flowed into construction, transportation, real estate and manufacturing sectors. Between the first week of October and the third week of November, 3.6 billion kyats of the local investment were invested in the manufacturing sector, 58 billion kyats in the transportation sector and 32 billion kyats in the real estate sector.
The largest local investors in November were the KMA Shipping Co., Ltd. with 58 billion kyats investment in transportation sector, and the Royal Hi-Tech Group with 32 billion kyats in real estate business
Investment volume of the locals was just over 1.4 trillion kyats by October 2011, which increased from 949 billion kyats in November 2010. The current investment volume is 12 times the amount of 2009.
According to the new Myanmar Citizens Investment Bill, the local investors can enjoy tax exemptions for five executive years on imported goods, machinery and vehicles to be used in their own industries.