Myanmar Investment Commission (MIC) Approves Seven Investment Projects and Capital Expansion of Current Businesses

A Meeting of  Myanmar Investment Commission (MIC) (3/2024) was held in Nay Pyi Taw on 6 march, attended by Deputy Prime Minister General Mya Tun Oo, who is in his capacity as the Chair of the Myanmar Investment Commission, and commission members.

The Myanmar Investment Commission (MIC) has given greenlight to seven new projects to invest in manufacturing, electricity, and service sectors and allowed the capital expansion of certain existing businesses. Those projects are to pump in US$18.222 million and K99.683 billion into the country and create nearly 1,369 jobs for locals.

As of the end of February 2024, among the 53 foreign countries, Singapore, China, and Thailand are the leading countries with the largest foreign investments in the country. Of 12 sectors, the power sector accounts for 28.49 per cent by drawing the most significant investments, followed by the oil and natural gas sector (24.45 per cent) and the manufacturing sector (14.40 per cent).

The Myanmar Investment Commission oversees and approves investment project proposals from locals and overseas, as well as serving existing investors in accordance with the Myanmar Investment Law, it is reported.

           Source: The Global New Light of Myanmar (7-3-2024)

 

  • The Myanmar Investment Commission (MIC) has given greenlight seven new projects to invest in manufacturing, electricity, and service sectors and allowed the capital expansion of certain existing businesses.
  • Those projects are to pump in US$18.222 million and K99.683 billion into the country and create nearly 1,369 jobs for locals.
  • As of the end of February 2024, among the 53 foreign countries, Singapore, China, and Thailand are the leading countries with the largest foreign investments in the country.
  • Among the 12 sectors, the most significant investments are the power sector, the oil and natural gas sector and the manufacturing sector.
engdate: 
Thursday, March 7, 2024 - 16:45
month: 
March, 2024