FDI inflow drops over $800 mln in two months of this FY

The Foreign Direct Investment (FDI) reached about US$200 million in two months of this financial year (FY) — a decline of over $800 million compared to the same period of last FY, according to the report of the Directorate of Investment and Company Administration.
From 1 October to 25 November of this FY2020-2021, Myanmar Investment Commission (MIC) allowed 14 foreign direct investments worth $199.756 million.
“During the same period of last FY, MIC greenlighted 39 foreign investment projects valued at over $1,027.013 million. Among them, the number of permitted or endorsed enterprises this year was 25 less than in the same period of last year, and the investment volume has reached only one-fifth,” DICA Director-General U Thant Sin Lwin said.
“FDI reached over K1 billion at this time last year. This year, FDI hit only K200 million, which is one-fifth of that last year,” said U Thant Sin Lwin.
MIC has set an FDI target of $5.8 billion in the current FY. (Translated by Hay Mar)

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