Myanmar Investment Commission (MIC) approved 14 new investment proposals which will create 4,371 job opportunities

Myanmar Investment Commission on its 1/2021 meeting approved 14 new investment proposals worth $295.279 million, estimated to create 4,371 jobs for local people. The investments including four investment expansions from existing ones are made in the solar power sector, livestock breeding sector, housing development sector, and service sector.

The approved investments include four 40-megawatt solar power production and distribution projects in Mandalay Region, Sagaing Region, and Magway Region. The other investments in the livestock sector include fish feed production and distribution projects by Scoular Myanmar Co., Ltd and one other swine breeding project.

Myanmar Investment Commission said that it has increased its efforts to promote investments in line with the COVID-19 Economic Relief and Reform Plan. Moreover, the solar power projects, the commission said, will support the country’s nationwide electrification goal by 2030 and in line with the direction to focus on renewable energy included in the State Counsellor’s address at Climate Ambition Summit.

As of December 2020, the electricity sector among the other 12 sectors where 51 countries and territories have invested is the largest receiving 26.13 percent of foreign investments followed by the oil and gas sector with 25.98 percent and the manufacturing sector with 14.67 percent.

(Myanmar Business Today: https://mmbiztoday.com/mic-approves-14-new-investments/ )

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