MIC greenlights 7 new foreign, domestic investment businesses

The meeting 5/2024 of the Myanmar Investment Commission was held yesterday afternoon at Office No 18 in Nay Pyi Taw. Member of the State Administration Council Deputy Prime Minister and Myanmar Investment Commission Chairman General Mya Tun Oo and members of the commission attended it.
The meeting discussed increasing the capital of the ongoing investment activities, including the industrial sector, the service sector and the housing development sector and approved seven new foreign and domestic investment projects. The investment amount of these businesses reached US$9.281 million and over K282.7 billion, which will create 1,423 local employment opportunities.
Among 53 countries and regions that have invested in Myanmar as of the end of April 2024, the most investments came from Singapore, China and Thailand. Among the 12 economic sectors, the most invested sector is the energy sector, with 28.47 per cent of the total investment, 24.43 per cent of the total investment in the oil and natural gas sector and 14.47 per cent of the total investment invested in the manufacturing sector.
The Myanmar Investment Commission is verifying and approving investment proposals submitted by domestic and foreign investors and providing investment services for existing investors under the Myanmar Investment Law. — MNA/TS