MIC approves seven projects with 5,000 jobs

Union Minister U Thaung Tun joins MIC regular meeting (13/2020) online. Photo : MNA

Myanmar Investment Commission (MIC) held its regular meeting (13/2020) via video conferencing system, yesterday morning. Chairman of the MIC, Union Minister U Thaung Tun, Vice-Chairman, Union Minister Dr Than Myint and members of the Commission participated in the meeting.
The meeting approved seven new projects in the manufacturing, real estate, hotels and tourism, and other services sectors as well as additional investments in four existing projects. The approved projects amounted to USD (347.85) million, Kyat (23,411.255) million and (4,915) job opportunities are expected to be created.
By the end of August 2020, the countries with the largest investments in Myanmar are Singapore, People’s Republic of China and Thailand. The power sector accounted for 26.32%. This was followed by the oil and gas sector, accounting for 26.23% and the manufacturing sector, accounting for 14.31 % of the total permitted amount of foreign investment.—MNA

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