Investment Permission: MIC meeting grants nine new investments

Myanmar Investment Commission held its meeting in Nay Pyi Taw on Friday, with the attendance of member of the State Administration Council, Deputy Prime Minister General Mya Tun Oo, in his capacity as the Commission Chairman.

A total of three foreign investments and six local investment were granted, which were amounted to over 35 million US dollar and more than 30 billion kyat, creating over 970 job opportunities. These new investments cover the areas of solar system and related accessories, power distribution and related industries, ready made foodstuff, CMP garment industry, iron and steel industries.

As of April this year, 53 countries and regions have invested in Myanmar with Singapore, China and Thailand ranked top. Among the 12 business sectors, the energy sector saw the most investment with over 28%, followed by oil and natural gas with over 24% and production sector with over 14%.