ISLAMABAD, Jan 27 (APP): The Myanmar Investment Commission (MIC) has approved 20 new investment projects, the state-owned The Mirror daily reported on Tuesday.
At its meeting on Monday in Nay Pyi Taw, the MIC approved four new foreign investments and 16 local investment projects, the report said.
Total investment is valued at 62.911 million U.S. dollars and over 2,120.43 billion kyats (about 1.009 billion U.S. dollars), and the projects are expected to create 3,382 jobs, it said.
The approved projects include EV motorcycle and automobile assembly, hotel and tourism services, construction, oil and natural gas, energy and electricity production, livestock breeding, education services, food processing, and garment manufacturing, it added.
The MIC oversees and approves investment project proposals from local and foreign investors, and provides services to existing investors under the Myanmar Investment Law, it said.