Since the National League for Democracy-led government took office over 5 months ago, the government has not permitted any new business investment projects in Mon State, according to Mon State Government.
Thus far, during the new government’s term, over 100 companies, including social development groups, financial loan companies and foreign investors, have met with the Mon State Government.
“There are companies that want to invest in our state and come meet with us. Lots of business representatives come to meet us and propose their investments. However, we have only started reviewing their proposals at the moment, and therefore, we have not permitted any of them yet,” said U Htun Htay, Mon State’s Minister of Agriculture, Livestock and Transportation.Regarding the big business investments, the State government cannot make decisions and such companies must submit their proposals to the Union Government. That said, the state government has the right to approve the investment or forbid it.
“In terms of the investment size, the Union Government has entitled the state government to make decisions on investment that is more or less 5 million USD. How considerably the state government can make these decisions is uncertain,” said Minister U Htun Htay.
Foreign companies that have investment interests in Mon State included those in the U.S., Germany and the U.K as well as Thailand, China, Hong Kong and Taiwan.
The June Cement Industry Ltd is the last company that received approval from the Thein Sein Government on March 25, 2016, one week before it left office. A project proposal that was also in Mon State.
Meanwhile, the locals in Pyar Taung area, Kyaikmayaw Township and Inndin area, Ye Township, are still opposing the planned coal fired plant to run MCL’s factory in the Pyar Taung area as well as the proposed coal-fired plant in Inndin area that would produce electricity.
It was reported that after the new government took office, the country received US$900 million and has provided more than 50,000 job opportunities, according to U Aung Naing Oo, secretary of Myanmar Investment Commission.