Myanmar Investment Commission approves investment proposals including supply and sales of electricity in Rakhine State which will create over 1,300 job opportunities

Union Ministers U Thaung Tun and Dr Than Myint attend the Myanmar Investment Commission (MIC) meeting (1 / 2020) in Yangon on 10 January, 2020. Photo: MNA
Union Ministers U Thaung Tun and Dr Than Myint attend the Myanmar Investment Commission (MIC) meeting (1 / 2020) in Yangon on 10 January, 2020. Photo: MNA

The Myanmar Investment Commission (MIC) meeting (1 / 2020) was convened at the meeting room of the MIC on 10th January, 2020 in Yangon. U Thaung Tun, Chairman of the MIC, Dr Than Myint, Vice Chairman of the MIC and (11) members attended the meeting.
The meeting approved six projects in the power sector, other sector, manufacturing sector and hotel sector including generation of 135 Electricity form Combined Cycle Gas Turbine Power Plant, Supply and Sales of Electricity on IPP (BOT) at Gone Chuain Village Tract, Kyaukphu Township, Kyaukpyu District, Rakhine State. The amount of USD 257.82 million and K 60,228.30 million have been approved for those projects which will create 1,317 job opportunities for Myanmar citizens.
By the end of November 2019, the countries with the largest investment in Myanmar were Singapore, People’s Republic of China and Thailand. The top sector is Oil & Gas sector, accounted for 27.04%, followed by the Power sector, accounted for 26.15% and manufacturing sector, accounted for 14.01% of the total permitted amount of foreign investment.—MNA

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