Most of the firms are small businesses, but the reason has yet to be disclosed and since DICA has yet to receive and verify the details, he said.
“Some have gone out of business, but we haven’t filed many bankruptcies,” he said.
Reasons for dissolution include business interruptions, disagreements between management and investors, mergers and acquisitions, and the discontinuation of an existing company in order to start a new one.
In the meantime, a total of 1693 new companies have registered online with DICA during the same period.
According to DICA data, there were 67,914 registered companies, 16,319 suspended companies, 361 in liquidation and 154 liquidated companies by September.
Myanmar also approved more than $ 200 million in FDI in the first two months of the current fiscal year. That’s about 20 percent of the level of FDI for the same period last year, said U Thant Zin Lwin.
FDI from 14 new investors was only $ 68.7 million, while the remaining $ 209 million in investment was made by existing firms looking to expand in Myanmar.
Meanwhile, more than 20 investment proposals worth $ 3.5 billion are still in the pipeline for approval.
This includes investments in the infrastructure and electricity-related sectors. – Translated