The Mon State has received US$475 million in foreign investment in the previous 2017-2018 fiscal year, according to statistics from the Mon State Directorate of Investment and Company Administration (DICA).
Seven foreign companies have invested US$475 million in the Mon State including US$200 million from Myanmar Korea Cement Group Co., Ltd for cement production and US$118.538 million from MOSB Ltd for construction of an offshore supply base.
“Our committee has opened the path by relaxing [the rules] as much as we can,” said U Min Thein Oo, deputy director of the Mon State DICA.
He pointed out that some investors have gone back due to lack of land, delay in submission of permit for leasing the land, and objections from the local residents.
Mawlamyine, Thaton, Mudon, and Thaton townships have attracted the majority of the foreign investment while no foreign investment has been made in Chaungzon, Ye, and Thanbyuzayat townships.
According to statistics from the Mon State DICA, thirty foreign companies have invested over US$5.551 billion in the Mon State from 1994 to March 2018 with permission from the Myanmar Investment Commission (MIC).
However, no investment has been made in 2016-2017 fiscal year under the National League for Democracy (NLD) administration.
