On 22nd December 2017, the Myanmar Investment Commission (“MIC”) issued its Announcement in order to invite foreign companies to invest in import substitute commodities in the following investment areas:-
(1) manufacturing of different types of vehicles and vehicle related fixtures and parts of machines;
(2) manufacturing of tractors and trailers;
(3) manufacturing of telephone and telecommunication equipment;
(4) production of machine and machinery equipment;
(5) manufacturing of electricity distribution and control apparatus;
(6) production of iron and steel;
(7) production of fertilizer;
(8) manufacturing of plastic raw materials;
(9) manufacturing of paper;
(10) production of emulated fibre;
(11) production of edible oil;
(12) production of medicine; and
(13) manufacturing of cosmetics products.
Investment proposals for the investment areas listed above must be submitted with the MIC in accordance with the Myanmar Investment Law 2016.
The MIC will provide necessary assistance to investors to get land and electricity required for the business and scrutinize business proposals promptly for investment in these investment areas.
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