Myanmar approves 15 new investment projects

Xinhua, May 10, 2021

The Myanmar Investment Commission approved 15 new projects including a program with large investment capital in power generation, the state-run media reported on Friday.

New investment projects were given greenlight for electricity generation, livestock, manufacturing and other services sectors and proposals of increasing in capital of two existing projects were approved at the commission's meeting, with investment capital of over 2.7 billion U.S. dollars and 15.3 billion kyats (9.8 million U.S. dollars) and 2,473 employment opportunities, the report said.

The approved projects include a project to generate electric power from LNG with investment capital of about 2.5 billion U.S. dollars, and the electricity generated by the project will be sold domestically and is expected to support the goal of 100-percent nationwide electricity from the national grid by 2030.

According to the state-run media, Singapore, China and Thailand are three largest investors out of 51 countries and regions as of April 30 this year.

Power sector topped the list with 26.57 percent of total investment, followed by oil and gas sector with 25.72 percent and manufacturing sector with 14.61 percent, the report said.