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MIC commits to responsible business, achievement of investment targeted amount, says Union Minister U Thaung Tun

Union Minister U Thaung Tun chairs regular meeting of MIC on 14 August. Photo: MNA
Union Minister U Thaung Tun chairs regular meeting of MIC on 14 August. Photo: MNA

The Myanmar Investment Commission held a regular meeting yesterday morning. The meeting was chaired by Union Minister U Thaung Tun, Chairman of the MIC, Union Minister Dr Than Myint, Vice-Chairman of the MIC and (10) members of the Commission attended in the meeting.
Chairman of MIC, U Thaung Tun stated that MIC strives for achievement of the investment targeted amount of USD 5.8 billion in the near future and further stressed MIC’s commitment to responsible investment.
The meeting approved (3) new projects in the manufacturing sector, hotel sector and other services sector as well as additional investments in (3) existing projects. The approved projects amounted to USD (20.057) million, Kyat (158,059) million and (750) job opportunities are expected to be created.
By the end of July 2020, the countries/regions with the largest investments in Myanmar are Singapore, People’s Republic of China and Thailand. The power sector accounted for 26.33%. This was followed by the oil and gas sector, accounting for 26.24% and the manufacturing sector, accounting for 14.27 % of the total permitted amount of foreign investment.—MNA

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