MIC permits five firms

The Myanmar Investment Commission has permitted five businesses, including a hotel project which will be built on the land owned by the army’s Quartermaster-General’s Office, reports say.

Three of them were passed with “citizenship investment”, one was a joint venture and the other with foreign investment.

The Europe-Asia Beverage Company will produce milk, soymilk and bottled water. Vent D’est and the Manufacturer GFT Enterprise will manufacture garments on a piecework system in Thadukan and Yangon industrial zones.

Eden Hotels will build a hotel on 75 acres in Dekkhinathiri, Nay Pyi Taw.

The Fortune International Ltd will build a hotel on 5.7 acres owned by the Quartermaster-General Office on Ngapali beach, Rakhine State, on a build-operate-transfer basis.

Source: ELEVEN


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