The Yangon Region Investment Committee (YRIC) has approved three new investment projects in the industrial, hotel and tourism sectors in Yangon Region. The three new projects were approved at the Yangon Region Investment Committee meeting held on May 28. They including one 100% foreign investment project in the industrial sector and two Myanmar citizen investment projects in the hotel and tourism sector.

The projects are garment manufacturing under the CMP system and hotel and motel services under the Ministry of Hotels and Tourism. The capital amount of these projects is over Ks.6,600 million kyats and US$.0.866 million, which will create job opportunities for 1,220 local residents. The Yangon Region Investment Committee meeting also discussed and decided on the general presentations of 14 companies, including one company that will hire 2,500 additional local employees. A total of 12 domestic and foreign investment projects, including the three new projects approved, have been invested in the Yangon Region this year.