THE Myanmar Investment Commission yesterday approved two projects, worth US$1.265 million and K18 million, which are expected to create nearly 270 jobs for locals.

The decision was reached at the Meeting 13/2019 of the MIC held at its office in Yangon. U Thaung Tun, the Chairman of the MIC, Dr Than Myint, the Vice Chairman, and 10 members attended the meeting.

According to an announcement by the MIC, the commission has approved the two projects in the industry sector.

From 1998 to the end of June this year, the commission has approved proposals of 1,752 foreign enterprises from 49 countries in 12 sectors, with the total pledged amount pegged at $80.9 billion.

Of the 49 countries, Singapore, the People’s Republic of China, and Thailand have emerged as the leading investors.

The sector with the largest share of investment has been oil and gas, accounting for 27.72 per cent of the total permitted foreign investment, following by the power sector (26.18 per cent), and the manufacturing sector (13.82 per cent).

MNA