Actual FDI hits $ 2.8 bln this FY

Min Thiha Zaw

From April to September of this year, the inflow of actual foreign investments into the country reached US$ 2.8 billion though Myanmar Investment Commission granted foreign investments worth US$ 4137.013 million.

The MIC allowed foreign investments in agricultural, livestock and fishery, manufacturing, electricity, transportation and communication, hotels and tourism, real estate, industrial zone construction and other service sectors.

During this fiscal year, the country sees the influx of investments from Bangladesh, Brunei, China, France, Germany, Hong Kong, India, Indonesia, Japan, Macau, Malaysia, South Korea, Singapore, Sir Lanka, Thailand, the Netherlands, UK, US, Vietnam, Luxembourg, Samoa, Qatar, South Africa, Taiwan and New Zealand.

From 1988-1989 until September of this FY, China topped the list of foreign investors with an investment of more than US$ 74 billion, followed by Singapore. Take a look at the investment sector, oil and gas sector stands first and energy sector, second.

Under the second five-year National Comprehensive Development Plan (2016-2017 to 2020-2021), the government has prioritized export promotion by encouraging foreign investments, private sector promotion, the transformation of regional development projects into commercial cooperation and coordination with private investments for the benefits of people.