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Garment sector sees more investment

Six foreign invested and three local invested firms were given the green light to invest at the first meeting of newly-reorganised Myanmar Investment Commission on May 31.

The meeting was held at Yangon Region branch with 43 items on the agenda, including investment proposals.

The companies receiving approval included garment makers, surgical-equipment producers and a petroleum distributor. They were from Hong Kong, Thailand, Indonesia, Korea and China.

Local firms that received approval include a frozen fish exporter, veterinarian medicine producer, and a producer of construction equipment.

The MIC was reorganised on May 28. The new chairperson is Zayar Aung, Union Minister, Ministry of Energy. Htay Aung, Union Minister of Hotels and Tourism, became vice-chairperson, a newly created position.

Source: ELEVEN Myanmar

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