MIC MEETING APPROVES SEVEN NEW PROJECTS INCLUDING POWER PLANT CONSTRUCTION PROJECT

(30th March 2022, Nay Pyi Taw)

The Myanmar Investment Commission held the meeting (2/2022) yesterday afternoon in Nay Pyi Taw. The meeting was attended by State Administration Council Member Myanmar Investment Commission Chairman Lt-Gen Moe Myint Tun and the commission members.

The meeting approved seven new projects from the hotels and tourism sector, industry and services sectors and electricity and energy sector, including a capital increase of 12 ongoing investment projects. These projects are worth US$85.759 million and K43,327.455 million and will create job opportunities for local workers.

The projects approved by yesterday’s meeting included the construction of a 20-megawatt solar power plant during the six-month construction period.

As of March 2022 from October 2021, 48 foreign-invested companies were approved with US$684.686 million investment in Myanmar. As for Myanmar citizen investment, 38 businesses were approved with a total of K468,393.528 million and 42,880 jobs were created.