MIC approves investment proposals with over 3,100 jobs

Union Minister U Thaung Tun addresses the Myanmar Investment Commission meeting (15/2019) in Yangon yesterday. Photo: MNA
Union Minister U Thaung Tun addresses the Myanmar Investment Commission meeting (15/2019) in Yangon yesterday. Photo: MNA

The Myanmar Investment Commission-MIC approved eight projects yesterday in the Livestock & fisheries, manufacturing, hotel, real estate, oil and gas and transport & telecommunication sector, with investment amounting to US$ 36.745 million and K 163302.753 million.
The projects will create3159 job opportunities for Myanmar citizens.
The MIC granted the proposals at the meeting (15 / 2019) at the office of the MIC yesterday in Yangon.
U Thaung Tun, Chairman of the MIC, Dr Than Myint, Vice Chairman and (10) members attended the meeting.
A total of 1806 foreign enterprises in 12 sectors from 50 countries were permitted, with the total pledge amount of US$ 81597.743 million from 1988 to the end of August2019.
Among the them, Singapore, People’s Republic of China and Thailand are the leading countries.
The top sector is Oil & Gas sector,accounted for 27.48%, followed by the Power sector, accounted for 25.95% and manufacturingsector, accounted for 14.01% of the total permitted amount of foreign investment. — MNA

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