Myanmar Investment Commission (MIC) approved USD $ 115 million project in Tanintharyi Region to create over a thousand jobs for local people

Myanmar Investment Commission has approved a $115 million worth investment proposal in Tanintharyi Region. The project, which will include shrimp farming, cold storage facility, and export, is expected to create over a thousand jobs for local people.

Along with the project, the investment body also approved eight new investments as well as investment expansion proposals from nine existing investments, totaling $135.144 million and K54.115 billion. MIC estimates that the investment will create 2,008 jobs. 

According to data from the Directorate of Investment and Company Administration as of the end of June, Singapore stands as the biggest investor in Myanmar followed by China and Thailand. 

Foreign Direct Investments from 51 countries and territories go into 12 sectors of which power sector shares 26.52 percent, oil and gas 26.44 percent, and manufacturing 14.28 percent.  

The investment commission has approved a total of 28 investment in the Tanintharyi Region since the 2015-16 Fiscal Year. 

(Myanmar Business Today: https://mmbiztoday.com/mic-approves-115-mln-project-in-tanintharyi-region/ )

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