Industrial Investments: Myanmar Earned Over 124 Million USD From June To July

The investments for industrial sector will be prioritized in order to provide more job opportunities to local people, according to the Myanmar Investment Commission. Although the plan is going to be undertaken, the lack of human resources; skilled workers still remains as a major challenge to attract the local and foreign investors for this sector. In order to fulfill the need, the MIC also called for expanding industrial zones as well as establishing the Technical and Vocational Training Centre. However it’s still unclear that when it will start and Secretary of the MIC, U Aung Naing Oo said they have to collaborate with regional government and related ministries for about that. According to the Myanmar Investment Commission, Myanmar earned over 124 million USD from Foreign Investment and more than 34 million USD from local investment during 2-month period, June to July of this year. The Commission also created over 11,000 job opportunities, where industrial sector plays a major role in both foreign and local investment. Other sectors like transportation, housing, hotel and tourism were also allowed. The Myanmar Investment Commission has been re-formed in June 7th of this year after the new government took office.