THE 6/2024 meeting of the Myanmar Investment Commission (MIC) was held yesterday afternoon in Nay Pyi Taw. State Administration Council Member Deputy Prime Minister and Myanmar Investment Commission Chairperson General Mya Tun Oo and members of the commission attended the meeting.
The commission approved three new local investment projects in the industrial, electricity, and mining sectors, including the capital increase of ongoing foreign investment activities. The investment amount of these businesses is US$89.146 million and K27.5 billion, which can create 206 local employment opportunities. Among 53 countries and territories that invested in Myanmar until the end of May 2024, the most investments were from Singapore, China and Thailand. Among the 12 economic sectors, the sectors most invested in are the energy sector, with 28.47 per cent of the total investment, the oil and natural gas sector, with 24.43 per cent, and the manufacturing sector, with 14.48 per cent.
MIC is responsible for verifying and approving investment proposals submitted by domestic and foreign investors. It is also currently providing investment services for investors under the Myanmar Investment Law.
MNA/TS
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