Myanmar Investment Commission Approves Six New Projects, Creating Over 2,600 Local Jobs

YANGON, Oct. 3 (Xinhua) – The Myanmar Investment Commission has recently given the green light to six new investment projects, paving the way for the creation of over 2,600 job opportunities, according to a report from Myanmar News Agency.

These projects, spanning across the energy, manufacturing, hotel, and tourism sectors, are set to bring in an investment sum of US$72.98 million (about 2.7 billion baht) and over 314 billion kyats (about 5.51 billion baht). Notably, renewable energy initiatives have also been included within the approved projects.

The substantial investments from Singapore, China, and Thailand have positioned these three countries as the leading investors in Myanmar, among a total of 52 countries and regions. As of the end of August, Myanmar’s energy sector has attracted the largest share of investment, accounting for 28.45% of the total, followed closely by the oil and gas sector (24.46%) and manufacturing sector (14.38%).

With these newly approved projects, Myanmar is poised to further enhance its economic growth and create a favorable investment climate. The country’s commitment to diversifying its industries and attracting foreign investment bodes well for its long-term development goals.

(Xinhua file photo: Bamboo products are displayed at a Myanmar booth at the 7th China-South Asia Expo in Kunming, southwest China’s Yunnan province, on August 18, 2023)

YANGON, Oct. 3 (Xinhua) — The Myanmar News Agency said on Tuesday that the Myanmar Investment Commission has approved six new investment projects, which can create investment opportunities with more than 2,600 local jobs available.

The report said the newly approved investment projects are from the energy, manufacturing, hotel and tourism sectors. He said renewable energy projects were also included in the approved projects.

These projects will attract an investment of US$ 72.98 million (about 2.7 billion baht) and more than 314 billion kyats (about 5.51 billion baht), with eight existing businesses allowed to increase their investments.

Singapore, China and Thailand are the three biggest investors in Myanmar out of 52 countries and regions. Counting down to the end of last August

Myanmar’s energy sector attracts the most investment. with a share of 28.45 per cent of the total investment This was followed by the oil and gas sector (24.46 per cent) and the manufacturing sector (14.38 per cent).

#Myanmar #approves #investment #projects #XinhuaThai