Myanmar Investment Commission (MIC) granted permission to eight enterprises including four garment enterprises, according to an announcement released by MIC.
These permitted enterprises include manufacturing of garments under Cut-Make-Pack (CMP) system, manufacturing and marketing the corns, prawns and assorted snacks, sterilized, sweetened and condensed Milk, corrugated carton box and beautification corrugated carton box and cement, it is learnt from Myanmar Investment Commission Meeting (18/2016).
Out of eight, four are completely foreign owned and they are manufacturing garments on CMP basics: Timber (Myanmar) Apparel Co., Ltd in Shwe Lin Pan industrial city, Hlaingthaya Township, Prettex Myanmar Co., Ltd in Thardukan industrial zone, Shwe Pyitha Township, Myanmode Co., Ltd and Oumi Fashion (Myanmar) Co., Ltd in Hlaingthaya Township, Yangon Region respectively.
Another three are joint venture investments_ SKP Interfood Co., Ltd which will manufacture corns, prawns and assorted snacks in South Dagon industrial zon; Myanmar Hachiya Paper Box Co., Ltd in Hlaingthaya industrial zone-2 for corrugated carton box and beautification corrugated carton box; and Myanmar Than Taw Myat Co., Ltd in Kyaukse, Mandalay for manufacturing cement.
Pacific Food Industries Ltd is wholly Myanmar citizen investment to manufacture dairy products in Hlaingthaya industrial zone 3 in Yangon Region.
These permitted enterprises will create 4,654 job opportunities, according to MIC’s announcement. —Mon Mon
To learn more about how the new Myanmar Investment Law and Myanmar Investment Rule make it easier for foreign investor to invest in Myanmar go to https://consult-myanmar.com/myanmar-investment-commission-mic-application-proposal-permit-endorsement/
Source: The Global New Light of Myanmar
