MT News
Myanmar Investment Commission (MIC) approved eight new businesses including renewable energy-generating electricity, it is reported.
MIC held its meeting 1/2023 in Nay Pyi Taw on 13 February and approved 8 new investment projects from electric power, transportation, oil and natural gas, industry, hotels and tourism and service sectors including increasing capital of ongoing investment businesses.
The overall investments amounted to US$-143.634 million and Ks-98078.094 million and they can create 1,374 job opportunities in local.
According to the data till the end of January 2023, out of 52 countries that make investments in Myanmar, the most investors are Singapore, China and Thailand. Among the 12 business sectors, the most invested sectors are the electric power sector, petroleum oil and natural gas sector and industrial sector.
The electric power sector is 28.30 percent of the total investment while 24.63 percent in the oil and natural gas sector and 14.34 percent in the industrial sector, according to the data of MIC.
Myanmar Investment Commission is providing assistance on granting investment proposals submitted by local and foreing investors, investment services for the current investors in line with Myanmar Investment Law.
