MIC meeting (5/2024): 7 new local and international investments permitted

Myanmar Investment Commission held its meeting (5/2024) at office No (18) in Nay Pyi Taw in the afternoon on 6th of May and was attended by SAC member Deputy Prime Minister Chairman of MIC General Mya Tun Oo and commission members.

At the meeting, 7 new local and international investments from industrial, service and housing development sectors including increase of capital by the current investment industries were permitted. The amount of those investments is 9.281 USD and over 282 billion Kyats and those will create 1423 local job opportunities.

As of the end of April 2024, among the 53 foreign countries, Singapore, China, and Thailand are the leading countries with the largest foreign investments in the country. Of 12 sectors, the power sector accounts for 28.47 per cent by drawing the most significant investments, followed by the oil and natural gas sector (24.43 per cent) and the manufacturing sector (14.47 per cent).

The Myanmar Investment Commission oversees and approves investment project proposals from locals and overseas, as well as serving existing investors in accordance with the Myanmar Investment Law.