MIC green-lights 19 projects including five solar power plants

THE Myanmar Investment Commission-MIC held its meeting (3/2022) at No 18 Union Government Office yesterday morning in Nay Pyi Taw.

Lt-Gen Moe Myint Tun, a member of the State Administration Council and Chairman of the Myanmar Investment Commission and the MIC members attended the meeting.

During the meeting, MIC allowed the expansion of initial outlay of 11 investment projects and the implementation of 19 new projects in the industrial, services, agriculture and livestock and electric and energy sectors. The overall investments amounted to US$807.155 million and K321,948.752 million, thus creating over 3,100 job opportunities.

Five projects out of 19 projects that were allowed at the meeting are to produce electricity by constructing solar power plants.

For the 2022-2023 financial year, Myanmar received foreign direct investments, with a total of US$829.146 million from 20 enterprises and K350,947.347 million of investments from 21 local enterprises, to date. Those enterprises will create over 13,000 job opportunities for residents.

Source: GNLM

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