MIC accepts investments from 77 companies in first quarter of 2015

Myanmar has invited 77 local and foreign companies to make investment in all sectors of the economy, including oil and gas exploration, commodity goods production and hospitality, in first quarter of 2015, according to the Myanmar Investment Commission (MIC).

The MIC met five times between January and March, 2015.

The permissions were granted at the request of regional governments, Union ministries and other organisations. The investments are expected to boost local employment opportunities.

Foreign investment in Myanmar has increased over the last four years as foreign investors were permitted to lease state-owned land in addition to private property, to transfer ownership of businesses to foreigners under the guidance of the MIC and to transfer money with fewer restrictions.