Myanmar Investment Commission (MIC) held its regular meeting via videoconferencing 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.
The meeting approved nine new projects in the manufacturing sector and other sector as well as additional investments in six existing projects. The approved projects amounted to USD (193.389) million, Kyat (64,341.827) million and (2,507) job opportunities are expected to be created.
By the end of May 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 26.51%. This was followed by the power sector, accounting for 26.60% and the manufacturing sector, accounting for 14.11% of the total permitted amount of foreign investment.—MNA