YANGON, July 20 (Xinhua) -- The Myanmar Investment Commission (MIC) Wednesday called for submission of performance reports of permitted investments for the first quarter of fiscal year 2016-2017 within 10 days starting July 17.
Under the current Foreign Investment Law and Myanmar Citizens' Investment Law, all permitted investment businesses in Myanmar are required to forward their performance reports to MIC every three months.
According to MIC statistics, new foreign investment in the first three months after the new government took office hit 3.136 million U.S. dollars, while total foreign investment in the country reached up to 63.721 billion U.S. dollars as of the end of June since late 1988.
Meanwhile, the new Myanmar Investment bill is expected to be submitted to the parliament later this month, according to U Aung Naing Oo, MIC secretary and director general of the Directorate of Investment and Company Administration.
