MIC greenlights 4 new investment projects

The meeting 1/2024 of the Myanmar Investment Commission was held yesterday afternoon at the Union Government Office in Nay Pyi Taw. State Administration Council Member, Deputy Prime Minister, and Myanmar Investment Commission Chairman General Mya Tun Oo, and members of the commission attended the meeting.
In the meeting, the capital increase of the ongoing investment, including the industrial sector, the housing construction and development sector, and the service sector of four new investment projects were approved. The investment amount of these enterprises is K48,864.955 million, which will create 392 local employment opportunities.
Until the end of November 2023, among the 52 countries/regions that invested in Myanmar, the most investments were from Singapore, China, and Thailand. Among the 12 economic sectors, the most invested sectors are the energy sector with 28.50 per cent of the total investment, 24.45 per cent of the total investment in the oil and natural gas sector, and 14.41 per cent of the total investment in the industrial sector.
The Myanmar Investment Commission is responsible for verifying and approving investment proposals submitted by domestic and foreign investors and currently providing investment services for investors under the Myanmar Investment Law. — MNA/TS