MIC approved Investments: About 1,374 local jobs created for locals

According to the official from Directorate of investment and Company Administration, Myanmar Investment Commission meeting (1/2023) approved new investment projects in the electrical, industrial, hotels and tourism, transportation, telecommunication, oil and natural gas sectors. The invested amount of these projects has been about 143.634 million USD and 1,374 local jobs have been created, it’s learnt.

Director General, Directorate of investment and Company Administration, Thant Sin Lwin said "In the 2022-2023 fiscal year, approvals have been made on a total of 11 investment projects worth over 820 million USD in the electrical sector, 3 investment projects worth above 500 million USD in the telecommunication, 53 investment projects worth more than 256 million in the industrial sector, 1 investment project worth more than 29 million in the housing project, more than 7 million in the mineral sector, more than 3.5 million in the agricultural sector, more than 1.84 million in the fishery sector, 1 investment project worth more than 0.8 million USD in the hotels and tourism sector. "

In 2022-2023 fiscal year, according to the statistics, 72 investment projects worth more than 1.627 billion USD have been approved after the MIC meeting, exceeding the targeted income. 

Director General, Directorate of investment and Company Administration, Thant Sin Lwin said "Till 14th February, a total of 72 investment projects such as 15 investment projects worth 1.15 billion USD from Singapore, 12 investment projects worth 166 million USD from Hong Kong, 36 investment projects worth of 112 million from PRC, 1 investment projects worth 93 million from Thailand, 3 investment projects worth 51 million from Korea including Japan’s investment project worth 21 million USD have been approved."

According to respective states and regions, the permission has been given to a total of 50 businesses with the invested amount of 755 million USD in Yangon, 2 businesses worth 380 million in Ayeyarwaddy, 5 businesses worth 184 million in Mandalay, 5 businesses worth 90 million in Bago, 2 businesses worth 88 million in Tanintharyi and 2 business worth 55 million USD in Magwe. In 2022-2023 fiscal year, 58 local businesses worth more than 679 billion MMK were approved.