Ministry of Investment and Foreign Economic Relations (MIFER),The Republic of the Union of Myanmar
MYANMAR INVESTMENT COMMISSION APPROVES OVER US $ 300 MILLION FOR CAPITAL RISING AND 12 NEW INVESTMENT PROJECTS
The Myanmar Investment Commission (MIC) meeting (3 / 2020) was convened at the meeting room of the MIC on 13th February, 2020 in Yangon. Dr. Than Myint, Vice Chairman of the MIC and (10) members attended the meeting.
The meeting approved 12 new projects in the manufacturing sector, other services sector and hotel sector including capital rising of 19 existing projects. The amount of USD 501.913 million and Kyat 73,435.332 million have been approved for those projects which will create 6,618 job opportunities for Myanmar citizens.
By the end of December 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 27.00%, followed by the Power sector, accounted for 26.15% and manufacturing sector, accounted for 14.07% of the total permitted amount of foreign investment.
