August 21, 2016

MIC grants permission for nine investments

Myanmar Investment Commission (MIC) granted permission on 19th August for nine local and foreign investments, including a five-star hotel.
Pun Hlaing Lodge Hotel Management Co., Ltd has been given permission to operater a five-star hotel on 2.196 acres of land at Pan Hlaing Golf Estate, Hlaingthaya Township, Yangon, it is learnt from a meeting of the MIC.
The investment proposals to MIC will be approved by MIC on the basis of the scrutiny and the opinions of the state and regional government concerned and the ministries concerned, said an official from the Directorate of Investment and Company Administration (DICA).
MIC granted permission on Diamond Palace Hotels Co., Ltd as Myanmar citizen investment to run Myeikhtila Hotel which is located on the Yangon-Mandalay road in Myeikhtila Township in Mandalay Region.  As a 100 per cent foreign investment, Myanmar Gigi Leather Goods Manufactory Company has been approved to operate the a business manufacturing handbags, wallets and associated products under the Cutting, Manufacturing and Packing (CMP) system. The Runningtex Company was granted permission to be engaged in a textile enterprise under the CMP system.
Maxxcare Co., Ltd was granted a permit to make foreign investment from No 324 to 327 plots of land at the Yangon Industrial zone in Mingaladon Township, Yangon.  Specialized Warehousing, a logistics, distribution and material handling service, has been granted permission to work at No. 458 B2/A, Damazayti Road, Bahan Township, Yangon.
As a Myanmar citizen investment, Nyi Naung Oo Company Limited was approved to ensure the electric supply for the Myawadyl Economic Zone and the villages in this zone in Myawady Township, Kayin State. MIC gave a green light to Myanmar Ease Net Co., Ltd to operate an Online eVisa service at three international airports as well as Myawady, Kawthaung, Htee Khe and Tachilek border towns, it is learnt.
Also, MSL Industries Company was granted permission to undertake a fish and prawn processing business under that Contract Processing system and Normal system as well as logistic and commodity distribution services on 4.2 acres of land belonging to the Fishery Department in Insein Township, it is learnt. —GNLM


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