No FDI in three sectors this fiscal year

Min Thiha Zaw

As of September of this fiscal year, oil and gas, mining and construction sectors had not yet seen an inflow of foreign investments, according to the Directorate of Investment and Company Administration.

The total foreign investments in energy, agriculture, livestock and fishery, manufacturing, transport and communication, hotel and tourism, real estate, industrial development and other services sectors has reached more than US$4 billion (5.4 trillion kyat). Oil and gas sector has seen the biggest foreign investments while the construction sector sees the lowest foreign investments.

According to the second five-year National Development Plan (2016-2017 to 2020-2021), the government plans for increased export volume by inviting foreign investment, promoting the private sector, transforming regional development projects into the commercial ones and ensuring private investments that benefit the people.

Under the plan, the government would review restrictions that hamper the inflow of foreign investments, reduce costs and land prices, ensure access to electricity and develop transport infrastructure.

In addition, the government would encourage the massive influx of foreign investments by developing local financial systems and monetary policies, creating investment opportunities, giving the nod for JV, BCC, BOT and investments in regional development projects.

From 1988-1989 to 2004-2005 fiscal year, the total FDI reached nearly US$7751.4 million, $6065.7 million in 2005-2006 FY, $719.7 million in 2006-2007 FY, $205.7 million in 2007-2008 FY, $984.8 million in 2008-2009 FY, $329.6 million in 2009-2010 FY, $19999 million in 2010-2011 FY, $4644.5 million in 2011-2012 FY, $1419.5 million in 2012-2013 FY, $4107.1 million in 2013-2014 FY, $8010.5 million in 2014-2015 FY, $9481.3 million in 2015-2016 FY, $6649.8 million in 2016-2017 FY, $4137 million in 2017-2018 FY.

From 1988-1989 until September of 2017-2018 FY, the total FDI amounted to over $74487.3 million.