MIC nods 14 enterprises to invest in Mandalay Region in 2023

Myanmar Investment Commission (MIC) gave the green light to 13 wholly domestic enterprises invested by Myanmar citizens and one foreign project in 2023, creating over 600 jobs for residents, Dr Min Zaw Oo, director of the Directorate of Investment and Company Administration (Mandalay Region), said.
“Those 14 enterprises will bring in K170 billion and US$0.858 million. They employ over 650 Myanmar workers and 11 expatriate employees,” he shared employment figures. Similarly, the Mandalay Region Investment Committee (MRIC) endorsed nine domestic businesses and one foreign enterprise last year.
Those approved and endorsed projects are set to pump investments into industrial manufacturing, garment manufacturing, electric power distribution and hotel services. Furthermore, the regional investment committee will attract investors to spur investments in garment manufacturing, industrial business and hotel services in the 2023-2024 financial year beginning 1 April. — ASH/EM