Myanmar attracts over $428 mln of FDI from Singapore this FY

IMG sskm
An industrial zone is seen with factories under operations.

Thirteen Singapore-listed enterprises brought in US$428 million into Myanmar between October 2020 and June 2021, according to the data released by the Directorate of Investment and Company Administration (DICA).
The UK-listed enterprise brought in large investments of $2.5 million in May 2021 and became the top source of FDI in Myanmar. Singapore is placed as the second largest investor in Myanmar.
Singapore companies mainly put investments into urban development, real estate, power and manufacturing sectors.
Those enterprises listed from Brunei, China, Thailand, India, Malaysia, Republic of Korea, Viet Nam, Marshall Island, Samoa, Hong Kong (SAR) and China (Taipei) also made investments this year.
Myanmar has drawn foreign direct investment of more than US$3.76 billion during Oct-Jun period, including expansion of capital by existing enterprises and investments in the Thilawa Special Economic Zone, DICA’s statistics indicated.
Of 44 foreign enterprises permitted and endorsed by MIC and the respective investment committees between 1 October and 30 June of the current FY, 23 enterprises pumped FDI into the manufacturing sector.
Power sector received six large project and livestock and fisheries sector attracted six projects. Other service sector drew five projects while agriculture sector pulled two projects and one foreign enterprise each entered industrial estate and the hotel and tourism sectors.
MIC intends to reach FDI target of $5.8 billion for the current FY 2020-2021.
Singapore has stood as the largest foreign investor in Myanmar since 2012, pulling in the FDI of $1.85 billion in the FY 2019-2020, $2.4 billion in the FY 2018-2019, $724.4 million in the mini-budget period (April-September, 2018), $2.16 billion in the 2017-2018 FY, $3.8 billion in the 2016-2017 FY, $4.25 billion in the 2015-2016 FY, $4.29 billion in the 2014-2015 FY, $2.3 billion in the 2013-2014 FY and $418 million in the 2012-2013 FY respectively.
Additionally, Singapore emerged as the second largest foreign investor in the Thilawa Special Economic Zone, after top investor Japan.–KH/GNLM

Share this post
Hot News
Hot News
Kyel Gyi to face Min Htet Aung in final of Shwe Aung Lan Traditional Boxing Tourney
Ease too much reliance on refrigeration facilities
Exports of aquaculture products top $113.5 mln as of 17 June
Dried chilli pepper price rallies to K7,500 per viss
Opinion seeks on new $ 8.9 billion Muse-Mandalay railway project
Meeting on expansion of using Baht/Kyat and Yuan/Kyat in border trade held
Seized narcotics worth over $ 642 million incinerated in major cities on int’l day against drug abuse and illicit trafficking
SAC Chairman Prime Minister inspects progress in building Maravijaya Buddha Image
An emphasis must be placed on shaping Nay Pyi Taw as Green and Clean City in a long run plan as well as green and clean cities in other regions and states with great farsightedness: Senior General
27-6-2022