Myanmar saw the largest investment in its communications sector last year and this year will also see encouraging investment in telecommunications and communication services, said Aung Naing Oo, secretary of Myanmar Investment Commission (MIC).
“The telecommunications sector is improving continuously. It is value added, of course. More telecommunications services will come this year.”
He however pointed out some unexpected disadvantages during the year.
“Things do not come as we expected. The incidents in Maungdaw, Rakhine State harmed the image our country. We had almost finished negotiations with the European Union to sign an investment protection agreement.
“But the EU suspended the signing. What we expected first is that this agreement would be signed in 2017, then we would try to promote the investment in our country in 2018 and 2019. We took three years to do that,” Aung Naing Oo commented.
He said Myanmar could not expect much investment from Western countries in 2018.
MIC vice chairman Dr Than Myint said the international community, especially Asean countries, Japan and China, had increased their interest in investing in Myanmar.
According to a press release issued by MIC, total foreign investment of over US$5 billion entered the country up to the third week of December last year in the current fiscal year.