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July 09, 2020

12 new investment projects to create over 6,600 jobs

Union Minister Dr Than Myint attends the (3/2020) meeting of Myanmar Investment Commission (MIC) in Yangon yesterday. Photo: MNA
Union Minister Dr Than Myint attends the (3/2020) meeting of Myanmar Investment Commission (MIC) in Yangon yesterday. Photo: MNA

The Myanmar Investment Commission (MIC) approved 12 new projects yesterday in the manufacturing, other services, and hotels sectors with investments of US$501.913 million and K73.435 billion.
The investments include expansion of capital by 19 existing projects.
The projects will create more than 6,600 jobs for Myanmar citizens.
The MIC granted its approval at a meeting held in Yangon. The meeting was attended by MIC vice chairman Dr. ThanMyint and 10 commission members.
At the end of December, 2019, the countries with the largest investments in Myanmar were Singapore, the People’s Republic of China, and Thailand. The top sector was oil and gas sector, which accounted for 27 per cent of the total permitted foreign investment, followed by the power sector (26.15 per cent), and the manufacturing sector (14.07 per cent). —MNA

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