Dec 3, 2012

Myanmar permits 15 foreign investments within 2 months

The Myanmar Investment Commission (MIC) has approved investments from 15 foreign companies within the last two months.

MIC announced that 10 companies were approved on October 29 while the rest on November 5.

Twelve of them are to run their businesses on CMP (cutting, making and packing) basis and they are garment factories, and gloves and clock and watch case makers.

The remaining three are in brick blocks manufacturing, pipe and accessories manufacturing and plumbing, and animal food production and distribution.

Along with the new investments, total foreign investment in the manufacturing sector has grown to US$1.8 million now.

MIC has permitted a total of 44 businesses since November 2011. Among them, 29 foreign investments permitted before July end were mainly concerned with oil and gas and hydropower.

Source: Eleven Media Group