MIC Meeting: MIC approves 10 new investment projects

Myanmar Investment Commission held its 2/2023 meeting at the Union Government office in Nay Pyi Taw on Monday with the attendance of SAC member the Commission Chairman Lt-Gen Moe Myint Tun and commission members.

The meeting approved 10 new investment projects in electricity, industry, hotels and tourism and livestock and fishery sectors including enhancing capital investment of (10) projects. The investment volume of said projects is 446.158 million USD and over 254.951 billion kyats, and it will create 7,640 job opportunities.

Renewable energy productions were also included in the permitted projects. Out of 52 countries/regions invested in Myanmar, Singapore, China and Thailand are largest investors until June 2023.

The most investment sector is electric power with 28.25%, followed by oil and natural gas with 24.59% and industry sector with 14.39 %. Myanmar Investment Commission conducts scrutinizing and permitting the investment proposals submitted by local and foreign investors and investment service for the investors in line with the law.