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Myanmar's industrial park project attracts 500 mln USD investment

Copyfrom:Xinhua News AgencyPost Time:2018-01-31 17:14:29

The Mandalay Myotha Industrial Park project in Myanmar's central Mandalay region has attracted 500 million U.S. dollars of local and foreign investment as of mid this month, the official Global New Light of Myanmar reported Tuesday.

The project is jointly implemented by the Mandalay government and Mandalay Myotha Industrial Development (MMID) Public Company, aiming to construct more than 100 plants on a 1000-plus-acre compound within three years.

At present, five factories including animal feed plants, a saw mill, a concrete plant and a snow cookie plant with investments from Indonesia, Denmark, Thailand, China and China's Hong Kong are operational.

The authorities are exerting efforts to construct more plants in May and August respectively.

So far, about 3.2 billion U.S. dollars worth of investment from 56 foreign enterprises and 3.75 trillion kyats (2.8 billion U.S. dollars) worth of local investment were permitted by the Myanmar Investment Commission in Mandalay region as of December last year.

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