Myanmar seeks new investments in energy and industrial sectors in Magwe
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Hsu / Phoo Pyae (NP News) - Jan 23
Magwe Region Chief Minister Tint Lwin, who is also the chairman of the Magwe Region Investment Committee, invited new #investments to conduct in Magwe Region especially in electricity, petrol, gas and oil, and industrial sectors in the region as it has abundance in natural resources and workforce.
The Magwe Region Chief Minister addressed it during the meeting of Magwe Region Investment Committee (1/2023).
The local investors shall also make investments in accordance with the Myanmar Investment Law.
At present, Magwe has two investments worth 55.994 million USD and another two local investments worth 3.3 billion USD as of 2022.
The Chief Minister of Magwe Region urged the departmental personnel to follow rules, orders, and regulations when conducting the departmental procedures.
The Directorate of Investment and Company Administration has organized State and Region Level Investment Committees in each State and Region in order to invite more FDIs and smoother operation in the country. And the relevant committees are scrutinizing new investments with an authorized capital up to 5 million USD or 6000 million Kyat.