Myanmar Investment Commission (MIC) approved USD $ 87 million a new commercial Center project in Yangon

Myanmar Investment Commission has approved a new Commercial Center project, which will include a shopping mall, residential apartments and offices.

The $87 million project will be developed by a Hong Kong-Myanmar joint-venture LESSO HOME Development (Yangon) Company. The project will be implemented on 80 acres of land at the corner of Yadanar Road and the Bago River in Dagon Seikkan Township.

“The project will include parking space for over 1,200 cars. Moreover, people can visit and relax at the Shopping Mall,” said U Thant Sin Lwin, Acting Director General of Directorate of Investment and Company Administration.

“Before approving a big investment proposal, we first looked at its potential impact on the environment,” he added.

Myanmar Investment Commission at their recent meeting approved a total of three investment proposals, meanwhile the Yangon Region Investment Committee approved five other investments. Ayeyarwady Region Investment Committee and Bago Region Investment Committee approved one investment each.

Among the approved investments, eight are in the industrial sector, one in construction and the last one is in an unspecified sector, the investments are estimated to create over 3,000 jobs for local people, according to Myanmar Investment Commission.

(Myanmar Business Today: https://www.mmbiztoday.com/articles/mic-approves-87-million-commercial-center-project )

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