Actual FDI inflows hit over $ 26 billion

A factory in Yangon. (Photo-Min Thiha Zaw)

 

From 1988 to 2017, the actual inflows of foreign investments reached over US$ 26 billion even though the government allowed US$ 76 billion foreign investments, according to International Investment Position.

An official of the Directorate of Investments and Company Administration said: “The existing FDI is over US$ 60 billion. For instance, FDI in the energy sector has stopped at the experimental stage. Some foreign companies returned their permits while others have not turned in their permits. The regular FDI inflows in 2015, 2016 and 2017 reached over US$ 3.5 billion.”

The FDI inflow is crucial for a country. In 2017, the DICA conducted a pilot survey for the actual FDI inflows, in cooperation with the IMF and EU-ASEAN Compass Program. Then, the DICA released the figures in accord with international standards.

The actual FDI inflows into the oil and gas sector is US$ 10,374.88 million (40 per cent of the total FDI), the telecom sector, US$ 4,430.23 million (16.81 per cent), the manufacturing sector, US$ 2,812.07 million (10.67 per cent), the power generation sector, US$ 1,718.60 million (6.52 per cent), the hotel sector, US$ 958.79 million (3.64 per cent), service excl banking sector, US$ 946.84 million (3.59 per cent), the real estate sector, US$ 53.55 million (2.04 per cent), the fishery sector, US$ 235.32 million (0.89 per cent), the financial services excl bank, US$ 193.93 million (0.74 per cent), the airport and airport service sector, US$ 50.83 million (0.19 per cent), the construction sector, US$ 47.20 million (0.18 per cent), the industrial construction sector, US$ 43.61 million (0.17 per cent) and the farming sector, over US$ six million.