Foreign investment volume reached over US$710 million within a two-month time in seven sectors, according to the Myanmar Investment Commission (MIC).

The amounts of foreign investments in sectors are as per the following: US$64 million in transport and communications sector, US$254.728 million in the industrial sector, US$537 million in housing development sector, US$3.2 million in hotel and tourism sector, US$240.870 million in other services sector, US$23.834 million in livestock and fishery sector and US$5.079 million in farming sector respectively.

A total of 50 countries made investments in 1,779 businesses worth US$81.249 billion in 12 business fields from 1988 to at the end of July 2019 with Singapore topping the foreign investors’ list followed by China and Thailand.

Most investments are in oil and natural gas sector followed by electric generating sector and production sector. Myanmar is aiming to become a country with medium wage income by 2030 and implementing a 20-year investment promotion plan.

The 20-year investment promotion plan is being drawn to be developed with a five-year short-term plan from 2016-17 FY to 2020-21 FY, a five-year mid-term plan from 2021-22 FY to 2025-26 FY and a 10-year long-term plan from 2026-27 FY to 2035-36 FY.