Mandalay Region: Region and Mandalay

mandalay region: Investors are invited to invest in the region's culture-based tourism sector as it is a home for over 300 intangible cultural heritage assets including the gold embroidery business and traditional arts and crafts, Mandalay Region Chief Minister U Zaw Myint Maung was quoted as saying, according to Global Times China. The Mandalay region investment committee was formed in July 2017, entrusted with the power to approve foreign direct investments with an amount not exceeding 5 million US dollars under the new Myanmar Investment Law introduced on Aug. 1 last year. The investments flew into the manufacturing, tourism, power sectors and other services in Mandalay region. The Yangon region attracted 60 percent of investments from both home and abroad, followed by Mandalay with 30 percent and the rest flowed into other regions and states. Under the MIPP, Myanmar targets to attract more than 200 billion US dollars in the next 20 years from the fiscal year 2016-2017 to 2035-2036. Meanwhile, the Myanmar Investment Promotion Plan MIPP was introduced by the Myanmar Investment Commission MIC on Oct. 8 last year, to promote investments for better development in economy, institutions, infrastructure, industries and human resources in the country. (news.financializer.com). As reported in the news.