October 12, 2016

Breaking News

Myanmar Investment Commission allows 14 foreign firms to invest US$ 278 million in Myanmar


THE Myanmar Investment Commission decided to permit 14 foreign companies to invest US$ 278.958 million during its meetings on 23 September.
The firms include 13 manufacturing firms and one transportation company. Their ventures will create 8,895 job opportunities, according to the Directorate of Investment and Companies Registration.
In addition, the commission permitted the investment of a local manufacturing company worth US$ 3.825 million and about 6 billion MMK. Their venture will create 85 job opportunities.
“The MIC considers economic benefits, job creation, environmental impacts and accountability in permitting investment in Myanmar,” Director-General U Aung Naing Oo said at a press conference held at the directorate on Monday.
The commission has permitted 52 foreign firms to invest US$ 662.835 million in Myanmar up until mid-October. The commission also gave the green light to 22 local companies to invest about US$ 100 million and MMK 175 billion, according to the directorate.—Ko Moe


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