Chinese investors slower to discuss investments in Myanmar amid COVID-19

LOCAL NEWS

By Nyein Nyein

The number of Chinese investors coming to Myanmar to discuss investment opportunities has declined amidst the coronavirus outbreak (COVID-19), said U Thant Sin Lwin, Director-General of the Directorate of Investment and Company Administration (DICA).
“The country expected to attract more investments from China post the Chinese New Year. But, COVID-19 has affected investment,” he said.
“Fewer Chinese investors have discussed investments in Myanmar. Moreover, the arrival of tourists has also dropped,” said U Thant Sin Lwin.
“The coronavirus outbreak has disrupted the Chinese economy. Furthermore, it can negatively affect China’s neighbours, including Myanmar,” he added.
In addition, the Yangon Region Investment Forum 2020, which was earlier scheduled to be held in February-end for investment promotion in the region, has been postponed, according to the DICA.
China is the second largest investor in Myanmar, with 430 projects bringing in capital of US$20.9 billion since 1988. (Translated by Ei Myat Mon)

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