Energy sector tops the FDI list with over $538 m

Energy sector tops the FDI list with over $538 m
Published 22 January 2020

 

Till December of 2019-2020 fiscal year, the total foreign investments in 12 business sectors reached 1.164 billion US dollars with the inflow of over 538 million US dollars in the energy sector topping the list, according to the Directorate of Investments and Company Administration (DICA). 

The FDI in the energy sector reached 538.575 million US dollars, 440.098 million US dollars in the real estate sector, 158.890 million US dollars in the production sector, 6.583 million US dollars in livestock and fishery sector, 40 million US dollars in the transportation sector, 81.4 million US dollars in hotels and tourism sector and 18.873 million US dollars in other sectors. 

Till January 10 of this fiscal year, Myanmar Investment Commission (MIC) allowed the FDI worth over 1.546 billion US dollars including Thilawa Special Economic Zone, said U Thant Zin Lwin, Secretary of the MIC at a press conference.

“Till January 10 of this FY, the total FDI including investment promotion reached 76.140 million US dollars according to the Special Economic Zone Law,” he added. 

During this period, the MIC allowed 21 investments (17 in industry sector and one each in electricity sector, housing sector, other services sector and hotels and tourism sector) worth 310.451 million US dollars. These FDI will create jobs opportunities for 10102 locals. 

From October 1 to January 10 of 2019-20 FY, the total FDI amounted to 1546.94 million US dollars.