MIC gives nod to nine investments worth over $ 394 m

MIC gives nod to nine investments worth over $ 394 m
Published 26 January 2020

 

Myanmar Investment Commission (MIC) allowed nine investments worth over 394 million US dollars at its meeting on 24 January.

The MIC’s Chair U Thaung Tun attended the meeting 2/2020 at the MIC office in Yangon on 24 January.

The nine businesses cover the 350-MW LNG-fired power plant, livestock and fishery, housing development, industry and other sectors.

The total investments are: 394.095 million US dollars and Ks15,220 million. It can create 1,587 jobs for locals.

Till December of 2019-2020 fiscal year,  16 countries invested over 1.164 billion US dollars in Myanmar.

Hong Kong topped the list of FDI with over 824 million US dollars, followed by Singapore with 166.818 million US dollars.

During the same period of this fiscal year, the FDI by China reached 63.222 million US dollars, 14.483 million by Thailand, 12.639 million by Brunei, 81.4 million by France, 1.54 million by Germany, 2.921 million by India, 6.073 million by Japan and 2.785 million by Malaysia, according to Directorate of Investment and Company Administration (DICA).