Investors shun oil and gas: DICA

Writer: 
Min Thiha Zaw

There was no foreign investment in agriculture, mining, oil and gas and construction in the previous fiscal year, according to the Directorate of Investment and Company Administration

The 2016-17 financial year saw an inflow of foreign direct investment (FDI) into livestock and fisheries, manufacturing, energy, transport, communicationshotels and tourism, real estate and other service sectors totalling US$6.6 billion. US$97 million was invested in livestock and fisheries, US$1.1 billion in manufacturing, US$910 million in energy, US$3 billion in transport and communicationsUS$404 million in the hotels and tourism sector, US$748 million in real estate and US$231 million in other services. 

Under the second five-year National Development Plan, until 2021, the government will promote exports by attracting foreign investment, promote the private sectorturn regional projects into commercial cooperation and ensure that private sector investment can benefit the people. 

In addition, the government will work to review provisions that may hamper the in-flow of FDI, reduce skyrocketing land prices, provide market researcdata, release the accurate statistics about the government, draft industrial policies for the development of advanced industries and ensure easy access to electricity and infrastructure development of the transport sector. 

The government is preparing to develop the fiscal sector, ensure better monetary policies and create investment opportunities

 

Translated by Myo Than