Myanmar Investment Commission has permitted seven new local and foreign investments which worth more than U.S $ 85 million and Ks.43.327 billion including producing electricity by constructing 20 Megawatt solar power plant.
MIC held a 2/2022 meeting on March 30 and during that meeting, the MIC has permitted the investments in hotel and tourism sector, industrial sector, services sector, electricity and power sector. It can create new job opportunities of about 3553, it said.
MIC has welcomed proposals to business people in following investments for the development of the country and nation’s building tasks. They are producing fertilizer, cement, steel, agricultural and livestock husbandry and related businesses, value added food production, manufacturing electric cars, pharmaceutical and production of health related accessories and public transport sectors.
If proposals were submitted to MIC, respective ministries in state/region will provide necessary assistances, it said.
In 2021-2022 Mini Budget year, nearly U.S $ 507 million investments have made and Singapore made the most investment with U.S $ 275.701 million, China with U.S $ 109.604 million, Taipei with U.S $ 3.208 million, French with U.S $ 0.497 million, Hong Kong with U.S $ 55.088 million, India with U.S $ 0.550 million, Japan with U.S $ 0.312 million, R.O.K with U.S $ 44.710 million, Samoa with U.S $ 2 million and Seychelles with U.S $ 1.343 million, Thai with U.S $ 7 million, Netherland with U.S $ 4 million and Nepal with U.S $ 1.5 million. Totaling U.S $ 506.823 million, it said.
