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Myanmar Investment Commission (MIC) holds its regular meeting (2/2021)

NATIONAL NEWS

The Myanmar Investment Commission was reorganized on 4 March 2021 with nine members in accordance with Notification No. 30/2021 of the State Administration Council.
The Commission held its first meeting (2/2021) yesterday morning at Office No. 18, Office of the State Administration Council. Chairman of Myanmar Investment Commission Lieutenant-General Moe Myint Tun and members of the Myanmar Investment Commission participated in the meeting.
The meeting approved ten new projects in the communication service, manufacturing, hotel business, and electricity generation. The approved projects amounted to USD579.019 million, kyats 36.781 billion and 945 job opportunities are expected to be created.
At this meeting, the Region and State Investment Committees were reorganized in accordance with the Myanmar Investment Law to allow investment projects in the regions and states.
By the end of February 2021, the countries with the largest investment out of 51 countries/regions investing in Myanmar are Singapore, the People’s Republic of China, and Thailand. The electric power sector leads the list of most invested sectors out of 12 business sectors with 26.16% of total investment. This was followed by the Oil and Gas sector, accounting for 25.89% and the Manufacturing sector, accounting for 14.69%.—MNA

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