Myanmar approves six new investment proposals


The power sector topped the list with 28.45 per cent of total investment.

YANGON (Xinhua): The Myanmar Investment Commission approved six new investment projects which can create over 2,600 local job opportunities, the state-run Myanmar News Agency reported on Tuesday (Oct 3).

The newly approved investment projects are from the sectors of power, manufacturing, hotels and tourism, the media reported, saying that a renewable energy project was also included in the approved projects.

Those projects will pump in US$72.98 million and over 314.73 billion kyats into the country, it said, adding that eight existing businesses were also allowed to expand capital.

According to the state-run media, Singapore, China, and Thailand are the three largest investors in Myanmar out of 52 countries and regions as of August this year.

The power sector topped the list with 28.45 per cent of total investment, followed by the oil and gas sector with 24.46 per cent and the manufacturing sector with 14.38 per cent, the report said.

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