YANGON, Aug. 15 (Xinhua) -- The Myanmar Investment Commission (MIC) has approved 14 new investment projects, the state-owned daily The Global New Light of Myanmar reported on Saturday.
At a meeting on Friday in Nay Pyi Taw, the MIC approved two new foreign investment projects from the capital increase of ongoing investments and 12 new local investment projects in the industrial, service, electricity and housing sectors, the report said.
Total investment is valued at 140.474 million U.S. dollars for foreign investments and over 1.1787 trillion kyats (about 561.3 million U.S. dollars) for local projects, and the projects are expected to create 3,336 jobs, it said.
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 added. ■