Myanmar may achieve its investment target for 2019-2020 fiscal year thanks to infrastructure projects, Aung Naing Oo, Permanent Secretary of Ministry of Investment and Foreign Economic Relations told the Weekly Eleven.

“Myanmar has planned to hold the general election in 2020. International companies usually monitor the election results not only in Myanmar but also in other countries. They usually make investments after monitoring the condition of new governments. Largely, it is the nature of international companies,” he added.

Myanmar has released the project bank in the time of current government. That project bank covers the mega projects and the projects to be developed by the ministries. 

“Myanmar will invite investment companies for infrastructure projects in the year to come. We will extend some investments. The new projects cover telecom services. Thanks to it, the country may see the inflows of million dollar investments. Due to next year’s election, we cannot expect some investments from international companies. Thanks to the inflows of investments into the infrastructure, oil and gas and telecom sectors, Myanmar may meet its investment target,” he continued. 

According to the Myanmar Investment Commission, in 2018-2019 FY, the total foreign investments including that in Thilawa Special Economic Zone project, amounted to over 4.52 billion US dollars and the citizen investment, over Ks 1,690 billion. 

Thant Zin Lwin, Secretary of Myanmar Investment Commission said: “Myanmar did not meet its investment target in 2018-19 FY though the FDI were higher than that in the same period last year.”

The total FDI inflow is expected to hit 5.8 billion US dollars in 2019-20 FY.