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May 26, 2020

Myanmar Investment Commission approves nine new projects, additional investments

The MIC  approves nine new projects  and additional investments in two existing projects.  Photo: MNA
The MIC approves nine new projects and additional investments in two existing projects. Photo: MNA

Myanmar Investment Commission (MIC) held its regular meeting via video conferencing system, yesterday morning. Chairman of the MIC, Union Minister U Thaung Tun, Vice-Chairman, Union Minister Dr Than Myint and members of the Commission participated in the meeting from their respective offices in Nay Pyi Taw and Yangon.
The meeting approved nine new projects in the manufacturing sector, hotel sector, power sector and services sector as well as additional investments in two existing projects. The approved projects amounted to USD (684.2) million, Kyat (96,034.451) million and (4,180) job opportunities are expected to be created.
By the end of April 2020, the countries with the largest investments in Myanmar are Singapore, the People’s Republic of China and Thailand. The oil & gas sector accounted for 26.74%. This was followed by the power sector, accounting for 26.07% and the manufacturing sector, accounting for 14.16% of the total permitted amount of foreign investment.—MNA

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