Myanmar has imported capital goods worth about US$720 million over a month of this fiscal year, exceeding over US$90 million compared to the same period of last fiscal year, according to the Ministry of Commerce.
From October 1 to November 8 in the current 2019-2020 fiscal year, import value of capital goods reached US$718.796 million while last year’s value amounted to US$628.171 million. So, this year’s amount exceeded US$90.625 million.
From 1988 to July 2019, a total of 50 countries made 1,779 rounds of investment worth overUS$81.249billion in 12 economic sectors.
The largest investor is Singapore, followed by China and Thailand. Most investments went to the oil and gas sector accounting for 27.59 percent. The electricity sector accounted for 26.07 percent and production sector 13.94 percent.
Myanmar is trying to receive a total foreign investment of over US$220 billion in 20 years and see responsible investment.
The Myanmar investment promotion project is being implemented in short- and long-term periods—short-term period from 2016-2017 FY to 2020-2021 FY, short-term period from 2021-2022 FY to 2025-2026 FY and long-term period from 2026-2027 FY to 2035-2036 FY.
