The Myanmar Investment Commission (MIC) on July 31 approved 7 new projects in the industry, real estate, hotel and tourism and manufacturing sector and 7 existing projects which amounted to USD (462.693) million and Kyat (73,206.5) million. The projects are expected to provide (3,662) job opportunities.

Among the new approved projects, MIC also approved Hlegu Industrial Park project which worth USD (230.60) million. The project is partnered by Sembcorp CSSD Myanmar Co., Ltd. and local partner City Mart Holding Co., Ltd. (CMHL) and Myanmar Agribusiness Public Corp (MAPCO). Sembcorp is expected to hold a 67pc stake in the project, while City Mart Holding and MAPCO will hold 18pc and 15pc respectively.

The AEON large scale Shopping mall project which worth USD (180) million also include in the new approved projects and it will create over 2,300 jobs.

Source: globalnewlightofmyanmar