11 new projects to create over 3,200 job opportunities amidst COVID-19 outbreak

Union Minister U Thaung Tun attends the Myanmar Investment Commission meeting in Yangon yesterday.  Photo : MNA
Union Minister U Thaung Tun attends the Myanmar Investment Commission meeting in Yangon yesterday.  Photo : MNA

The Myanmar Investment Commission-MIC approved 11 new projects yesterday in the manufacturing, construction and other services sector with investments of over US$555 million and over K 51 billion.
The investment includes expansion of capital by 13 existing projects.
The projects will create over 3,200 job opportunities for Myanmar citizens.
The MIC granted its approval at its meeting 5/2020 held in Yangon.
The meeting was attended by MIC Chairman U Thaung Tun and 10 commission members.
Myanmar Investment Commission has systematically approved the labor intensive projects to create job opportunities to minimize the impact of workers on the effects of Coronavirus (COVID-19).
By the end of March 2020, the countries with the largest investment in Myanmar were Singapore, the People’s Republic of China and Thailand. The top sector is oil & gas sector, accounted for 26.94%, followed by the power sector, accounted for 26.26% and manufacturing sector, accounted for 14.18% of the total permitted amount of foreign investment.—MNA

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