MIC greenlights five new investment projects, including EV assembly and production

The 7/2024 meeting of the Myanmar Investment Commission (MIC) was held yesterday in Nay Pyi Taw, attended by Deputy Prime Minister and MIC Chairman General Mya Tun Oo and members.
Five new investments in the industrial sector, the service sector and the construction sector, including the capital increase of ongoing investment activities and the manufacturing and sale of various electric vehicles, were approved, totalling US$44.4 million and K57,351.976 million, which will bring out 2,002 job opportunities.
Among 53 countries and territories that have invested in Myanmar until the end of June 2024, Singapore, China and Thailand are the leading investors in 12 economic sectors, with 28.45 per cent of the total investment in the energy sector, with 24.41 per cent in the oil and natural gas sector and 14.45 per cent in the manufacturing sector.
The Myanmar Investment Commission is responsible for verifying and approving investment proposals submitted by domestic and foreign investors. Investment services for current investors are being provided under the Myanmar Investment Law. — MNA/TS