MYANMAR INVESTMENT COMMISSION APPROVES INVESTMENT PROPOSALS WHICH WILL CREATE OVER 1,500 JOB OPPORTUNITIES INCLUDING 350 MEGAWATTS ELECTRICITY PROJECT

The Myanmar Investment Commission (MIC) meeting (2 / 2020) was convened at the meeting room of the MIC on 24th January, 2020 in Yangon. U Thaung Tun, Chairman of the MIC and (7) members attended the meeting.

              The meeting approved eight projects in the power sector, Livestock & Fisheries sector, Real Estate Sector, manufacturing sector and other sector including generation of  350 Electricity form LNG Turbine Power Plant at  Thanlyin Township, Yangon Region. The amount of USD 394.095 million and Kyat 15220 million have been approved for those projects which will create 1587 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.