MIC okays five projects in oil and gas, real estate, services sectors

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Union Minister U Thaung Tun and members of the Myanmar Investment Commission attend the video conference with officials from respective offices in Nay Pyi Taw and Yangon yesterday.  Photo: MNA

Myanmar Investment Commission (MIC) approved five projects yesterday in the services sector, oil and gas sector and real estate sector, with investments amounting to USUS$ 64.594 million and Kyat 10,840.134 million.
The meeting also allowed additional investments in three existing projects.
The decision were made at the regular meeting 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 from their respective offices in Nay Pyi Taw and Yangon.
By the end of March 2020, the countries with the largest investments in Myanmar are Singapore, the People’s Republic of China and Thailand.
The oil & gas sector accounted for 26.94%. This was followed by the power sector,
accounting for 26.26% and the manufacturing sector, accounting for 14.18% of the total permitted amount of foreign investment. — MNA

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