Myanmar Investment Commission (MIC) allowed 16 domestic and foreign investments in a meeting held on July 11, 2017

The Myanmar Investment Commission (MIC) has allowed 16 domestic and foreign investments, including a company to provide services for an offshore oil producer, during a meeting held on July 11.

They are eight joint-ventured investments, six domestic schemes and two foreign investments.

A company from Myanmar, Fortune International Limited, is due to invest in the building of apartments, apartment villas, offices and shopping complexes in Mayangone Township in Yangon Region and rent them out.

Sakura Construction Group is due to invest in a hotel in Chanayethazan Township in Mandalay Region.

China Union Operation Co Ltd was approved to provide a telecommunications service across the country with foreign investment.

MOSB Limited, a joint-venture, planned to build a port to provide diesel and machinery to offshore oil production in Mudon Township, Mon State.

The MIC allowed the investments based on recommendations from regional and state governments and ministries in Nay Pyi Taw. The commission said the investments would create 1,240 jobs.

An earlier meeting approved 18 domestic and foreign investments, which have reportedly created 6,455 jobs.

(Eleven Media Group: http://www.elevenmyanmar.com/business/10526 )

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