FDI inflows exceed $22 bln over four years under incumbent government

LOCAL NEWS

Myanmar has attracted over US$22 billion over the four years under the incumbent government, according to the Directorate of Investment and Company Administration (DICA).
The Myanmar Investment Commission (MIC) and the respective investment committees granted permits and endorsements to 905 foreign enterprises between 2016-2017 financial year and as of May-end in the 2019-2020FY, with estimated capitals of $22.39 billion.
The FDIs flow into the 12 sectors — oil and gas, power, transportation and communication, real estate, hotels and tourism, mining, livestock and fisheries, industrial estate, agriculture, construction, manufacturing and other service sectors.
Power sector tops the investment line-up, followed by oil and natural gas in the second place and manufacturing in the third place.
Of 51 foreign countries, Singapore put the largest investments, followed by China and Thailand.
MIC is prioritizing the labour-intensive businesses.
In the incumbent government period, domestic and foreign projects employ over 500,000 locals, according to the DICA.
Those enterprises have created over 19,000 jobs in 2016-2017FY, 110,000 jobs in 2017-2018FY, over 53,000 jobs in the 2018 mini-budget period, over 180,000 jobs in 2018-2019FY and 160,000 (Oct-May) in 2019-2020FY respectively. (Translated by Ei Myat Mon)

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