The MIC in November 2019 approved the application of a joint venture between China National Technical Import and Export Corporation and Hong Kong-listed VPower Group for a 400MW  LNG plant in Yangon Region, involving US$360 million, and a 150MW LNG plant in Rakhine State worth $140 million.

In the first three months of the 2019-20 fiscal year, starting from last October, the MIC has approved four energy investment proposals, according to U Thant Sin Lwin, director general of the Directorate of Investment and Company Administration (DICA) and secretary of the Myanmar Investment Commission (MIC). The four projects will account for more than US$700 million of FDI.