MIC meeting 8/2024: MIC approved eight new investment projects

The8/2024 meeting of the Myanmar Investment Commission (MIC) was held on September30thin Nay Pyi Taw, attended by Deputy Prime Minister and MIC Chairman General Mya Tun Oo and members.

Eight new investments in the industrial sector, the service sector, Petroleum and Natural Gas sector, transportation and the communications sector, including the capital increase of ongoing investment activities and the manufacturing and sale of various electric vehicles, were approved, totaling 9.255 million USD and 46005.226 million Kyats, which will bring out 1,972 job opportunities.

Among 53 countries and territories that have invested in Myanmar until the end of August 2024, Singapore, China and Thailand are the leading investors in 12 economic sectors, with 28.43 per cent of the total investment in the energy sector, with 24.39 per cent in the oil and natural gas sector and 14.46 per cent in the manufacturing sector.

The Myanmar Investment Commission is responsible for verifying and approving investment proposals submitted by domestic and foreign investors. Investment services for current investors are being provided under the Myanmar Investment Law.