Myanmar Investment Commission (MIC) gave approval to some new foreign businesses to carry out hundred-percent foreign investments in power production and garment manufacturing.
Singapore-based power companies, UPP
Holdings Ltd and UPP Greentech Pte Ltd, were given approval for
producing and selling electricity as wholly-owned businesses at Ywama
power station in Yangon Region.
Two garment factories, one from Hong
Kong and another from the UK, were also approved as hundred-percent
foreign investments to engage in cutting, making and packing (CMP)
clothes.
Thailand-based North Star Manufacturing
Co Ltd was allowed to form a joint-venture with a local partner and to
set up a garment factory with CMP system at Hlaing Tharyar Industrial
Zone (5) in Yangon Region.
The total amount of foreign investment
in Myanmar reached over 43 billion at the end of August, with China
being the largest investor in the country followed by Thailand and Hong
Kong.
Major portions of the foreign investments are in oil and gas, energy and mining sectors.
source: Eleven Myanmar
No comments:
Post a Comment