MIC Approves Three Foreign Investments

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The Myanmar Investment Commission (MIC) granted permission to three foreign investments, including a garment business.

The MIC met on December 1 to decide about the proposed foreign investment projects.

The projects included a clothes producer, a soft drink container producer and distribution industry and power system installation and maintenance of telecommunication equipment services.

Kingsrich Fashion Limited will run a clothing factory in Yangon Region’s Shwepyithar Industrial Zone as a 100-per-cent foreign investment.

Crown Beverage Cans Myanmar Limited will make soft drink containers and a distribution  network at Mingaladon Industrial Zone in Yangon as a joint venture.

The power system installation and maintenance of telecommunication equipment services will be operated by Linfra Limited in Hlaingthayar Township as a foreign investment.

The commission says 2,217 jobs will be created by the new businesses.

 

Source: Eleven Myanmar

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