MIC allows 19 new investments including five solar projects
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Su/Phoo Pyae (NP News) – July 14
Myanmar Investment Commission has allowed to run 19 new businesses including five renewable solar energy plants during the MIC meeting No. 3/2022 held on July 11.
With amounted to USD 807.155m and MMK 321948.752m in total, the newly granted businesses include industrial, service, agricultural and livestock, and electricity and energy sectors additional to 11 investment projects with expansion of capital investment. More than 3100 locals are expected to offer jobs by them.
As of 2022-23 FY’s third week of July, the country has received USD 829m from 20 FDIs and MMK 22b from 21 local investments. More than 13000 employment opportunities were created from those investments.
Figures says that foreign investments up to end of June 2022 was USD 25b in energy; 22b in oil and gas; and 13b in production having a total of USD 93b of FDI.
The MIC is processing scrutiny on business applications amounted to USD 5m (or) MMK 6000m investments. States/regions MIC offices grant the permit to run businesses after scrutiny is passed.
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