MYANMAR INVESTMENT COMMISSION APPROVES INVESTMENT PROPOSALS WHICH WILL CREATE OVER 33,000 JOB OPPORTUNITIES

The Myanmar Investment Commission (MIC) meeting (17 / 2019) was convened at the meeting room of the MIC on the morning of 21th October, 2019 in Yangon. U Thaung Tun, Chairman of the MIC and (10) members attended the meeting.

              The meeting approved eight projects in the real estate sector, education service, agriculture sector and manufacturing sector. The amount of USD 279.88 million and Kyat 156,930.01 million have been approved for those projects which will create 33,279 job opportunities for Myanmar citizens.

          A total of 1,837 foreign enterprises in 12 sectors from 50 countries were permitted, with the total pledge amount of US$ 81,874.265 million from 1988 to the end of September 2019. Among them, Singapore, People’s Republic of China and Thailand are the leading countries.

          The top sector is Oil & Gas sector, accounted for 27.38%, followed by the Power sector, accounted for 25.87% and manufacturing sector, accounted for 14.08% of the total permitted amount of foreign investment.