The Myanmar Investment Commission (MIC) approved 14 new investment projects, including the assembly and production of electric vehicles, at a meeting of the Myanmar Investment Commission held at the Office No. 18 in Nay Pyi Taw on January 30 afternoon.
The new projects approved include one new foreign investment project in the service sector, and 13 new domestic investment projects in the industrial, hotel and tourism and service sectors including the increase in the capital of existing investment projects. The investment amount of these projects is over 345 billion kyats and US$3.684 million, which will create more than 1,500 local job opportunities.
The new projects approved include assembly and production of various electric vehicles, which is being encouraged by the State, as well as the agricultural equipment manufacturing, hotel services and international-level health services.
Among 53 countries and regions that have invested in Myanmar, Singapore, China, and Thailand are the largest investors with foreign investment of nearly US$634 million until the end of December 2024. Myanmar citizens’ domestic investment has been nearly 27 trillion kyats, according to the data from the Directorate of Investment and Company Administration.
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