Myanmar has signed agreements on the promotion and protection of investment with 10 countries aimed at enhancing trust among investors and promoting business operation, the official Global New Light of Myanmar reported Friday.

The 10 countries are the Philippines, Vietnam, China, Japan, Laos, Thailand, India, Kuwait, Israel and South Korea respectively.

Meanwhile, the bilateral investment promotion and protection agreement between Myanmar and South Korea started to take effect on Oct. 31 this year.

Moreover, the authorities are making negotiations with more countries and regions for signing the similar bilateral agreements such as China's Hong Kong , Bangladesh, Mongolia, Russia and Serbia.

According to the figures from the Directorate of Investment and Company Administration (DICA), Myanmar has attracted a total of 5.718 billion U.S. dollars foreign direct investment in last FY 2017-2018.