Myanmar logs over US$1.24 bln of FDI from 10 foreign countries in H1

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The picture shows cargoes from foreign investments.

Myanmar attracted over US$1.24 billion of foreign direct investments from ten countries in the first half (April-September) of the current financial year 2022-2023, according to the Directorate of Investment and Company Administration (DICA). Among them, Singapore topped the FDI line-up.
Between April and September of the current FY, the country received a capital of $1.24 billion this FY from ten countries, including expansion of capital by the existing enterprises.
Singapore is the top source of FDI this FY, with 13 Singapore-listed enterprises pumping FDI of $1.095 billion into Myanmar. Hong Kong SAR stands as the second largest investor this FY with an estimated capital of over $70.239 million drawn from seven projects and existing enterprises. China is ranked third in the investment line-up with more than $60 million from 16 projects and existing enterprises.
One enterprise each from Belize ($1.5 million), Japan ($3.1 million) and Chinese Taipei ($3 million), the Republic of Korea ($2.8 million), India ($1.545 million), Thailand ($3 million), Seychelles ($0.338 million) also invested in the country in the H1, including the increased investments from the existing enterprises.
On 21 October, Myanmar Investment Commission gave the go-ahead to the 13 enterprises in the power, manufacturing, agriculture, hotel and tourism, service and real estate sectors, with an estimated capital of $198.017 million and K167.366 billion. Those enterprises are to create 5,685 jobs for residents.
As of end-September 2022, Singapore, China and Thailand are placed in the first three ranks among the 52 foreign countries investing in Myanmar. Of the 12 investment sectors, the power sector constitutes 28.21 per cent of overall investments, while the petroleum and gas sector accounts for 24.67 per cent and manufacturing, 14.32 per cent. — TWA/GNLM

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