Investment & Job Creation: YRIC Endorses 1 Foreign CMP Project, Creating 800 Jobs

The Yangon Region Investment Committee (YRIC) endorsed one foreign enterprise in the manufacturing sector, with an estimated capital of US$3.235 million at a meeting held on Wednesday at the YRIC office in Yankin Township.

That project will execute the manufacturing of various hats on a Cutting, Making, and Packing (CMP) basis. First, Yangon Region Chief Minister U Soe Thein in his capacity as the YRIC Chair remarked that 3,370 jobs were created for residents in April.

Investments in labour-intensive manufacturing businesses, agriculture and livestock-based production businesses, solar power projects, manufacturing of raw materials for the construction sector and green business which is environmentally sustainable are cordially invited.

Concerted efforts are required to effectuate the development in other sectors as well.

He also instructed the officials concerned to screen the projects and give the green light under the Myanmar Investment Law, rules and regulations. Later, director U Myo Khaing Oo of the Directorate of Investment and Company Administration, in his capacity as the YRIC secretary, elaborated on regional investment matters. Then, 12 companies also submitted general reports and YRIC’s chairman and the committee members coordinated the matters.