Myanmar permitted more than US$ 81 billion worth of foreign investment businesses and K 19.049 trillion worth of citizen investment businesses, said Vice-President Myint Swe.

“There has been an enormous increase in the investment sector. The figures collected indicated that US$ 81.249 billion worth of 1779 foreign investment businesses and K 19.049 trillion (US$ 10.353 billion) worth of Myanmar citizen investment businesses were permitted by Myanmar Investment Commission (MIC) till the end of July in 2019,” said Vice-President Myint Swe.

The MIC permitted US$ 81.936 billion worth of 1836 foreign investment businesses within 30 years from 1988-1989 FY to the end of May in 2019, according to the figure of the Directorate of Investment and Company Administration (DICA).

Out of the foreign investment businesses entered during that period, only 1489 ones are operating the businesses and the investment volume is worth about US$ 67.223 billion.

The businesses that withdrew their operation within 30 years are 338 in number and that investment volume amounted to US$ 14.712 billion.   

The oil and gas sector topped the list with over $ 22 billion US dollars’ investment by 27.94 %, followed by energy sector with over 21 billion US dollars’ investment by 26.40 %, manufacturing sector with about 11 billion US dollars’ investment by more than 13 %, transport and communications with over 10 billion by more than 13 %, real estate sector by over 6 %, hotel and tourism by 4 %, mining sector by over 3 % and other sectors by over 3 % respectively.

In the current fiscal year, Myanmar approved of US$ 2.094 billion worth of 207 foreign investment businesses from October 1 of 2018-2019 FY to July 10.  During that period, the increased investment volume is worth of over US$ 1.171 billion.

Similarly, during that period the investment volume with the increased one reached US$ 208.300 million according to Thilawa Special Economic Zone Law.

 Translated and edited by Win Htut