Seven foreign and local enterprises permitted to invest US$1,435.808 million

Seven foreign and local enterprises have received permission to invest US$1,435.808million, creating 5,533 job opportunities, according to the Myanmar Investment Commission meeting held on 21st January.

There were foreign investments of US$1,416.080million and Myanmar Citizen investments of US$19.728million. The foreign investments were from China, Singapore, South Korea, Viet Nam and Samoa, it is learnt.

The seven enterprises are: G & U (Myanmar) Fashion Company Limited for manufacturing of garments using the Cutting-Making and Processing (CMP) process; Jia Long Plastic Products (Myanmar) Company Limited for the manufacturing and marketing of polybags and related products such as elastic bands; Shyang Peng Cheng Company Limited for the manufacturing of a variety of shoes using the CMP process; Dongwon M House Company Limited, for the CMP manufacturing of the upper parts of shoes; CMI Engineering Company Limited for the manufacturing and sale of switchboards, electrical control boxes, sheet metal parts and steel receivers; Myanmar National Tele & Communications Ltd for nationwide telecommunications networks and services and Ga Mone Pwint Co., Ltd for leasing of shopping mall office towers and hotels on the BOP system, according to the Directorate of Investment and Company Administration.

Source: Global New Light of Myanmar

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