The Myanmar Investment Commission (MIC) has approved five foreign businesses which will include a luxury island hotel, river cruises and a new wood factory.
Mokan International Co Ltd, a
joint-venture of Scandinavian-based Gecko Holdings Ltd and Kyaw Win Phyo
Mauk Co Ltd (Myanmar), were given approval to develop a luxury hotel
project on two islands in Kawthaung Township in Taninthayi Region of
Lower Myanmar.
India-based Greenply Industries
(Myanmar) Private Ltd was approved to set up a finished-wood factory in
Dagon Industrial Zone in suburban Yangon.
UK-based Leisure Holdings Asia Ltd was
given a green light to launch a cruise liner on the rivers in major
cities of Myanmar including Yangon, Mandalay and Bagan.
Thailand-based Thai Parfun Co Ltd and
China-based Nantong Mengsheng Shoes Co Ltd will set up a garment factory
and a shoe factory respectively.
Foreign investments in Myanmar hit
US$42.5 billion on May 31 this year, according to official figures. Over
US$19 billion has been invested in power sector and $14.37 billion in
oil and gas.
source: Eleven Myanmar
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