Yangon—In around eight months of current fiscal year, the imports of capital goods exceeded five billion US dollars, up over 1.4 billion US dollars compared with the same period last year, according to the Commerce Ministry.

Till 22 May of 2019-20 FY, Myanmar imported capital goods worth 5.040 billion US dollars, up 1.423 billion US dollars compared with last year’s figures of 3.616 billion US dollars.

From 1988-89 FY to April, 2020, the total foreign direct investments by 51 countries in nearly 2,000 businesses hit 85.167 billion US dollars.

During that period, Myanmar allowed the FDI for 12 business sectors.

Oil and gas sector toppped the list of FDI with over 26 per cent, followed by electricity sector with 26 per cent, industry sector with over 14 per cent, transport and communications with over 13 per cent, real estate sector with over seven per cent, the mineral sector with over three per cent, hotel and tourism sector with over three per cent, livestock and fishery with nearly one per cent, agricultural sector with 0.5 per cent, industrial zone sector with 0.38 per cent, construction sector with 0.04 per cent. Other services sector saw over three per cent.

With the aim of enabling Myanmar to become a middle-income country by 2030, Myanmar is implementing the 20-year Myanmar Investment Promotion Plan.