Myanmar Investment Commission Meeting: MIC approves seven new projects worth over $18 million

Myanmar Investment Commission granted 7 new projects during its meeting in Nay Pyi Taw on Wednesday.

The meeting was attended by member of the State Administration Council Deputy Prime Minister and Commission Chairman General Mya Tun Oo and Commission members. The newly granted projects included industrial, service and electric power sectors along with the additional investments of the existing projects.

The total amount of investments for those projects is over 18 million US dollars and over 99.6 billion kyats, promising employment opportunities for over 1,300 individuals. As of February 2024, 53 countries and regions have been making investments in Myanmar, with top contributions coming from Singapore, China, and Thailand.

In terms of economic sectors, the energy sector leads with 28.48%, followed by oil and natural gas with 24.45%, and production sector with 14.40%. The commission continues its role in scrutinizing new investment proposals for approval while providing assistance to existing investments, aligning with the Myanmar Investment Commission Law.