The Myanmar Investment Commission (MIC) permitted and endorsed 40 foreign and 10 domestic investment projects during a meeting held on 11 January, state media reported.
The MIC and the investment committees of Yangon, Bago, Mandalay, Tanninthayi, and Ayeyawady regions approved foreign businesses to bring in a capital of US$309.6 million to the regions. The enterprises will be engaged in the manufacturing, electricity, livestock and fishery, real estate development, and other sectors, creating 31,695 jobs for local people.
The majority of the investments will flow to the manufacturing sector. The MIC and the investment committees of Yangon, Mandalay, Ayeyawady, and Bago regions, and Rakhine and Kayah states also approved 10 domestic enterprises with estimated capitals of K21.5 billion including $2.86 million to execute projects in manufacturing, hotels and tourism, and other sectors. They will help create 863 jobs.