MIC okays eight projects with over 1,500 jobs, including 350 MW power plant

Union Minister U Thaung Tun and seven MIC members holds the Myanmar Investment Commission (MIC) meeting (2/2020) on 24 January, 2020 in Yangon. Photo: MNA
Union Minister U Thaung Tun and seven MIC members holds the Myanmar Investment Commission (MIC) meeting (2/2020) on 24 January, 2020 in Yangon. Photo: MNA

The Myanmar Investment Commission approved eight projects yesterday in the electricity, livestock and fisheries, real estate, manufacturing sectors, incljuding generation of 350 MW LNG Turbine Power Plant at Thanlyin Township, Yangon Region.
The total investments are amounted to US$394.095 million and over K15 billion.
The projects will create 1587 jobs for Myanmar citizens. The MIC granted its approval at a meeting (2/2020) held in Yangon. U Thaung Tun, the chairman of the MIC, and seven members attended the meeting. By the end of December 2019, 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 27.00%, followed by the Power sector, accounted for 26.15% and the manufacturing sector, accounted for 14.07% of the total permitted amount of foreign investment.—MNA

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