Myanmar has potential investments from Hong Kong and ASEAN countries such as Singapore and Thailand in 2019-20 FY, according to the Ministry of Investment and Foreign Economic Relations.
Among ASEAN countries, Singapore, Vietnam, Thailand, Malaysia, Indonesia, Philippines, Brunei, Cambodia and Laos made investments in Myanmar.
A total of 50 countries invested in 1,876 businesses in 12 sectors from 1988 to November 2019 and the total investment is about US$83 billion.
In that period, the investment amount of nine ASEAN countries is over US$38 billion and it is over 46 per cent of total foreign investment.
The investment amount of ASEAN countries are as per following: over US$22 billion from Singapore, over 11 billion from Thailand, over 2 billion from Vietnam, about 2 billion from Malaysia, over US$270 million from Indonesia, about US$150 million from Philippines, over US$120 million from Brunei, over US$24 million from Cambodia and about one million from Laos.
Hong Kong invested over US$9 billion in over 230 businesses.
Myanmar cannot expect investments from the United States and European countries in 2019-20 FY due to political situations.
However investments from Japan, China and South Korea will be increased, said Permanent Secretary Aung Naing Oo from the ministry.
He said the foreign investment will be increased in electricity production, oil and natural gas and logistics sectors in this fiscal year.
