FDI inflows expected to hit over $ 5.8 billion

Writer: 
Zeyar Tun

 

From October 1, 2018 to September 30 of 2018-2019 fiscal year, the inflows of foreign direct investments are expected to hit over US$ 5.8 billion, said Aung Naing Oo, Director-General of Directorate of Investment and Company Administration, at Myanmar Global Investment Forum at the MICC-2 in Nay Pyi Taw.

“I think the FDI inflows will be higher than that in the current fiscal year. The reason is that companies have become fully active. Some foreign investors are preparing to invest in Myanmar. Some projects are huge,” he added.

The total FDI in 2017-2018 FY dropped by about US$ 900 million compared with 2016-2017 FY. But the FDI during the six-month mini budget period, the FDI increased by around US$ 400 million. The FDI is expected to become reactive in the next fiscal year thanks to heavy projects, he said.

Myanmar Global Investment Forum will continue until September 12.