MYANMAR INVESTMENT COMMISSION APPROVES INVESTMENT PROPOSALS WHICH WILL INVEST OVER (50) MILLIONS US DOLLAR INCLUDING POWER SECTOR

The Myanmar Investment Commission (MIC) meeting (20 / 2019) was convened at the meeting room of the MIC on the morning of 14th December, 2019 in Yangon. U Thaung Tun, Chairman of the MIC and (9) members attended the meeting.

              The meeting approved three projects in the power sector and real estate sector. The amount of USD 58.035 million and Kyat 1,922.804 million have been approved for those projects which will create 94 job opportunities for Myanmar citizens. By the end of October 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 27.29%, followed by the Power sector, accounted for 25.77% and manufacturing sector, accounted for 14.04% of the total permitted amount of foreign investment.