14 new investment projects approved in Myanmar

Myanmar Shin Kong Daily” reported on January 28 that the Myanmar Investment Commission held the first meeting of 2021 by video on January 27. The meeting approved 14 new projects including additional investment, including solar power generation, animal husbandry, real estate and other service fields. The investment in the above-mentioned project is US$ 295.279 million and kyat 153.686 billion, which can create 4371 jobs for domestic people. The projects approved by the meeting were the four 40-megawatt solar projects in Mandalay, Sagaing and Magway provinces and the 100% foreign investment in fish feed processing, production, sales and pig breeding in Yangon Province. According to the report, the Myanmar Investment Commission is accelerating the investment industry in accordance with the plan to alleviate the impact of the epidemic on the economy. The power investment projects approved at this meeting will help promote the realization of nationwide power supply in 2030. As of December 2020, among the 51 countries and regions that have invested in Myanmar, Singapore, China and Thailand have invested the most. Among the 12 investment areas, the power sector has the most investment, accounting for 26.13% of the total investment; oil and natural gas second, accounting for 25.98% of the total investment; the manufacturing sector third, accounting for 14.57% of the total investment.

 

Source: China – ASEAN Business Council