The Myanmar Investment Commission (MIC) granted permission to three foreign investments, including a garment business.
The MIC met on December 1 to decide about the proposed foreign investment projects.
The projects included a clothes producer, a soft drink container producer and distribution industry and power system installation and maintenance of telecommunication equipment services.
Kingsrich Fashion Limited will run a clothing factory in Yangon Region’s Shwepyithar Industrial Zone as a 100-per-cent foreign investment.
Crown Beverage Cans Myanmar Limited will make soft drink containers and a distribution network at Mingaladon Industrial Zone in Yangon as a joint venture.
The power system installation and maintenance of telecommunication equipment services will be operated by Linfra Limited in Hlaingthayar Township as a foreign investment.
The commission says 2,217 jobs will be created by the new businesses.
Source: Eleven Myanmar
