MIC okays 6 investment proposals; projects to create 2,850 jobs

Union Minister U Thaung Tun addresses the coordination meeting of Myanmar Investment Commission in Yangon yesterday. Photo:MNA
Union Minister U Thaung Tun addresses the coordination meeting of Myanmar Investment Commission in Yangon yesterday. Photo:MNA

The Myanmar Investment Commission (MIC) yesterday approved six new projects worth US$131.125 million and over K113 billion, including increasing of capital by nine existing enterprises.
The approved projects include a proposal for making value added agricultural products, which is expected to create 2,600 jobs.
The projects will be executed in the manufacturing, agriculture, livestock, and other services sectors and are expected to create a total of 2,850 jobs.
The projects were approved at a meeting (4/ 2020) convened yesterday at the MIC in Yangon. MIC chairman U Thaung Tun, MIC vice chairman Dr Than Myint, and nine commission members attended the meeting.
By the end of January, the countries with the largest investments in Myanmar were Singapore, the People’s Republic of China, and Thailand. The top investment sector was oil and gas, which accounted for 26.70 per cent of the permitted foreign investment, followed by the power sector (26.45 per cent), and the manufacturing sector (14.03 per cent). — MNA

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