MIC allows over 100 foreign investment businesses this year

Myanmar Investment Commission (MIC) has granted permission for more than 100 foreign investment businesses in this year, including beer and cigarette makers.

For the period of January to December 19, MIC said it granted permission for 118 foreign investment businesses and joint ventures to operate in the country.

Some of them included international big names such as British American Tobacco for cigarette manufacturing and distribution, Myanmar Carlsberg for beer manufacturing and distribution, APB Alliance Brewery Company and Beer Chang International Limited for beverage manufacturing and distribution.

Other businesses are auto manufacturing, home appliances making, bamboo fiber production, auto servicing, consumer foods production, IT services, medicines making and decorated roof manufacturing.

After the finance minister Win Shein held office as the MIC’s chairman, several manufacturing businesses have been allowed to operate.

The foreign investment in Myanmar exceeded US$ 44 billion by the end of this November, and China, Thailand and Hong Kong topped the list of largest investors in the country, according to official data from MIC.

Source: ELEVEN Myanmar

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