YANGON, March 16 (Xinhua) -- The Myanmar Investment Commission (MIC) has approved 35 new investment projects, which are expected to create over 5,000 jobs, the state-owned daily Myanma Alinn reported on Monday.
At its meeting on Sunday in Nay Pyi Taw, the MIC approved four new foreign investments and 31 local investment projects, the report said.
The total investment is valued at 41.003 million U.S. dollars for the foreign investments and over 1955.526 billion kyats (about 0.931 billion U.S. dollars) for the local projects, it said.
The approved projects include sectors such as EV motorcycle and automobile assembly, hotel and tourism services, construction, garment manufacturing, and solar energy production and distribution, among others, it added.
The MIC oversees and approves investment project proposals from local and foreign investors, and provides services to existing investors under the Myanmar Investment Law, it said. ■
