The Myanmar Investment Commission (MIC) meeting (5 / 2020) was convened at the meeting room of the MIC on 3rd April, 2020 in Yangon. U Thaung Tun, Chairman of the MIC and (10) members attended the meeting.
The meeting approved (11) new projects in the manufacturing sector, construction sector and other services sector including capital rising of (13) existing projects. The amount of USD (555.233) million and Kyat (51,040.26) million have been approved for those projects which will create (3,234) job opportunities for Myanmar citizens. Myanmar Investment Commission has systematically approved the labor intensive projects to create job opportunities to minimize the impact of workers on the effects of Coronavirus (COVID-19).
By the end of March 2020, the countries with the largest investment in Myanmar were Singapore, People’s Republic of China and Thailand. The top sector is oil & gas sector, accounted for 26.94%, followed by the power sector, accounted for 26.26% and manufacturing sector, accounted for 14.18% of the total permitted amount of foreign investment.
