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Myanmar approves more new firms in December

Xinhua, December 17, 2015 Adjust font size:

Myanmar Investment Commission has approved five new local and foreign firms in the country so far in December alone, expecting approximately 1,642 new jobs, sources with Myanmar Investment Commission (MIC) said Thursday.

The newly-approved firms will be involved in agricultural and marine food production and the processing, manufacturing and marketing of fertilizer and industrial displays, the commission said.

Myanmar Agri Food Co, Ltd ,one of the five companies, focuses on frozen food processing, production and marketing and it will operate as a joint venture.

Texchem Marine Labutta Ltd which will be also operated as joint venture, will be engaged in the processing and marketing of marine products.

Other newly permitted firms will build facilities to manufacture and distribute industrial displays and fertilizer in Bago and Mandalay regions.

The industrial display manufacturers and fertilizer producers will be running their businesses either as wholly foreign-owned or locally-owned companies.

In November, 12 local and foreign businesses were approved by MIC. Endit