"Myanmar's Yangon Region Investment Committee (YRIC) recently approved 16 foreign investment businesses for the region, according to the Directorate of Investment and Company Administration (DICA) on Sunday (Feb 23). A total of US$28.507mil of foreign investments from China, Seychelles and Estonia as well as 3 billion Kyats (US2mil) from one local enterprise engaged the region's manufacturing sector and other services, creating over 8,900 job opportunities for local citizens. Yangon region absorbs 60% of country's investment from both home and abroad, followed by Mandalay region with % and the rest flows into other regions and states. Myanmar attracted over US$20.8bil foreign investments as of Jan 31, the first four months of the current fiscal year 2019-2020, according to the DICA's figures. The new Myanmar Companies Law which started to enforce on Aug. 1, 2018 allows foreign investors to take up 35 percent in local companies..."