Mon State has attracted both international and domestic investments into electricity, factory, mining, and other business service sectors in 2018-19, according to the State Ministry of Planning and Finance.
“They [investors] come to invest as they find [this place] profitable. The majority of people in Mon State plant rubber trees, so it is not strange that these factories have flowed to Mon State. Rock quarry companies come in as rock for road construction is available here,” said U Wunna Kyaw, State Minister for Planning and Finance.
Of the 18 investments, three are foreign direct investments worth over $6 million USD and ten domestic investments are worth over 35 million MMK (Kyat), according to the State Investment Committee.
According to the Myanmar Investment Commission (MIC), there are three foreign investments with more than $164 million USD and two domestic investments, worth MMK 87, 697, 362 million.
Foreign investment reached $475 USD million during the 2017-18 fiscal year, which included Myanmar Korean Cement Group Co. Ltd with $200 million and Myanmar Offshore Supply Base Ltd (MOSB) worth $118.538 million. Seven other companies also invested in Mon State that year, according to the State Directorate of Investment and Company (DICA).
Investment proposals for amounts above $5 million are required to file a submission of proposal with the Myanmar Investment Commission (MIC), and investments that are valued at less than $5 million need to submit to a State or regional investment committee.
The six main sectors for the Mon State economy include agriculture, manufacturing, tourism, trade, logistics, and infrastructure.
