2 April

THE Myotha industrial zone, which is being implemented under the supervision of the Mandalay regional government, has attracted local and foreign direct investments worth over K330 billion, said U Tun Tun Aung, Managing Director, Mandalay Myotha Industrial Development (MMID).

“Currently, about K338 billion has flowed into the zone from local and foreign investors. As of now, eight factories are operating in the Mandalay Myotha industrial zone,” he added.

According to MMID, about K298 billion was invested by local investors, while US$508 million was parked in the zone by foreign investors.

The foreign direct investments were approved by the Myanmar Investment Commission. Most of the investments were made by investors from China, Thailand, Hong Kong, Indonesia, the Netherlands, Japan, and the US.

Currently, eight plants are operational at the industrial zone, while six others are under construction.

The Myotha industrial zone project has created over 2,500 jobs for locals, said U Tun Tun Aung.

Currently, Mandalay Myotha Industrial Development has over 1,600 shareholders, with an investment amounting to over K130.6 million. The company has already returned 55 per cent of the invested capital to its shareholders within five years, he added.—GNLM

(Translated by Hay Mar)