MIC greenlights 13 projects including renewable energy projects

The Myanmar Investment Commission (MIC) held its meeting 4/2022 at No 18 Union Government Office in Nay Pyi Taw yesterday.
State Administration Council Member Myanmar Investment Commission Chairman Lt-Gen Moe Myint Tun and MIC members attended the event.
During the meeting, MIC allowed the expansion of the initial outlay of 11 investment projects and the implementation of 13 new projects in the industrial, agriculture, hotels and tourism, services and housing sectors. The overall investments amounted to US$198.017 million and K167,366.399 million, thus creating over 5,685 job opportunities. Among the permitted projects, it included renewable energy projects.
Out of 52 countries that make investments in Myanmar until the end of September, Singapore, China and Thailand are the biggest investors in the country. Among 12 business sectors, they invest in electricity with 28.21 per cent of total investment while 24.67 per cent in oil and natural gas and 14.32 per cent in the manufacturing sector.—MNA