Myanmar to attract more than $200 billion investments over the next 20 years

Myanmar to attract more than $200 billion investments over the next 20 years
Published 29 January 2019

Myanmar recently launched the Myanmar Investment Promotion Plan (MIPP) which aims to attract more than US$200 billion through responsible and quality business over the next 20 years, facilitating Myanmar’s transition to a middle-income country, said Myanmar State Counsellor Daw Aung San Suu Kyi at Invest Myanmar Summit  2019 on January 28.

The MIPP covers the five-year short-term plan (2016-2017-2020-2021), the five-year mid-term plan (2021-2022 to 2025-2026) and the long-term plan (2026-2027 to 2035-2036).

With the aim of promoting the inflow of foreign direct investments into Myanmar, Myanmar Investment Commission (MIC) drafted Long-term Foreign Direct Investment Promotion Plan in Cooperation with Japan International Cooperation Agency (JICA) in 2013. This plan kicked off in 2014.

The MIC updated this plan into the MIPP. According to the objective of the MIPP, the FDI is to generate 5.8 billion USD annually from 2016-2017 to 2020-2021, 8.5 billion USD annually from 2021-2022 to 2025-2026, 12.3 billion USD annually from 2026-2027 to 2030-2031 and 17.6 billion USD from 2030-2031 to 2035-2036.

Wai Phyo, President of Invest Myanmar Summit  2019 said: “We will introduce two important information at Invest Myanmar Summit  2019. The first one is the MSDP and the second is the National Project Bank (NPB).”

Invest Myanmar Summit  2019 is jointly organized by Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI), the MIC and Directorate of Investment and Company Administration (DICA).